FAQ
Q: Thomas Title & Escrow is an agent for multiple underwriters. How is an insurance agent different from an insurance underwriter?
A: As an independent agent, we issue title insurance policies underwritten by a title insurance company and the ultimate risk of loss is borne by the title insurance company, not the issuing agent. In some jurisdictions, insurance underwriters issue their own title insurance policies in direct competition with their authorized agents. Our relationship with multiple national underwriters gives us the ability to provide clients with greater underwriting flexibility than any single title insurance underwriter could by itself. Generally, title insurance premiums are the same whether you purchase through an independent agent or purchase directly from an underwriter.
Q: What is the difference between homeowner’s coverage, standard coverage and extended coverage?
A: Homeowner’s coverage is only available for residential transactions. Standard coverage provides coverage, among other things, for title defects that would be found in a search of the public records. Extended coverage provides standard coverage protections plus coverage for matters that would not be found in search of the public records. For example, defects discovered by inspection, problems uncovered by a survey and rights of certain parties that may be in possession of the subject property would be covered by an extended policy but not by a standard policy. Extended coverage is generally required by a lender for any transaction that involves lender financing.
Q: How can I obtain a quote for title and/or escrow fees?
A: Send an email to info@thomastitle.com with the following information:
- Type of transaction (purchase or refinance; commercial or residential)
- Purchase price and/or loan amount
- Type of coverage (extended vs. standard)
- Type of policy (owners policy or lenders policy) and
- Your contact information.
Q: How can I place an order for title and escrow services?
A: Send an email to info@thomastitle.com with the following information:
- The legal description(s) or parcel number(s) of the property to be researched/insured
- For a purchase, include the name of the parties buying and selling the property and the purchase price
- For a refinance, include the name of the borrower, the lending institution and the loan amount and
- Your contact information.
Q: How can I login to Thomas Title & Escrow’s online transaction management portal?
A: Our firm boasts a state-of-the-art online transaction management portal. Through our password-protected online “deal portal”, clients can obtain file status, view transaction details and access documents 24/7. User names and passwords are issued to clients upon the opening of their first order with our firm by one of our team member. Once you have become an authorized user of our portal, visit www.thomastitle.com and enter your credentials into the top right corner of our homepage.
Q: What geographic area does Thomas Title & Escrow cover?
A: We offer real estate title and escrow services to our clients in all 50 states and Mexico. We offer our corporate escrow services domestically and internationally.
Q: What underwriters work with Thomas Title & Escrow?
A: We are an authorized agent for First American Title Insurance Company and the Fidelity National Title Group family of underwriters. We often collaborate with other large underwriters (including Stewart Title and Old Republic Title).
Q: What types of title research products are available?
A:In addition to providing title insurance policies, our title department also prepares customized research reports including Limited Title Reports, Condition of Title Reports and Chain of Title Reports.
- A Limited Title Report provides current ownership, consensual and non-consensual liens and current tax parcel I.D. number.
- A Condition of Title Report provides the same information as the limited title report, plus all recorded matters such as easements, restrictions, etc. affecting the land.
- A Chain of Title Report lists conveyances or other historical information pertaining to the subject property and can be tailored to reflect certain types of matters.