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News & Press: Industry News

CLTA Files ALTA Short Form Commitment for an ALTA Short Form Residential Policy

Tuesday, March 20, 2018  
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The ALTA Short Form Commitment for an ALTA Residential Loan Policy (12-01-17) will replace the current version of the ALTA Short Form Commitment (10-16-08). The current version is scheduled to be decertified by the ALTA effective 08-01-2018. The ALTA Short Form Commitment (12-01-17) is a companion form to the 2016 ALTA Commitment for Title Insurance (08-01-16).

The Short Form Commitment for a Residential Loan Policy incorporates by reference the substantive conditions of the offer of lender’s title insurance on a residential loan transaction. It is commonly used between centralized title and closing operations and loan originators’ centralized refinance operations to streamline the transfer of the data necessary for a Short Form Residential Loan Policy to be issued. The “Notice” provision is included as [bracketed] text and may be set out in the form or, as the other provisions of the long form version, incorporated by reference.

California Land Title Association

1215 K Street #1816 Sacramento, CA 95814-3905
Email:  |  Phone: 916-444-2647  |   Fax: 916-444-2851