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RLP and ALTA Title Insurance Policy Comparison Chart

from the March 18, 2002 Edition of The Legal Description

* Assumes a mortgage pool amount of $10 million, comprised of 80 individual mortgages at an average amount of $125,000.  Since Radian’s pool policy liability is limited to ½ of 1% of pool value (see www.radiangroupinc.com); total liability would be $50,000.  If $275.00 (per 12/91/01 K. Harney column) were charged for each mortgage, the total cost for Radian’s Lien Protection for the 80 mortgages in the pool would be $22,000. That equates to $440 per $1,000 of insurance liability ($22,000 divided by 50). Title insurance would provide the full coverage described above for the full value of all the mortgages in the pool at an average refinance/reissue rate of $2.43 per thousand (based on an average refinance/reissue rates available in CA, FL, and NY, nearly 25% of US housing sales).  The transaction cost above for title insurance assumes the average $125,000 mortgages used in this example.  Above based on market information as of 2/28/02. 

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