"SB 133 enhances consumer protection while maintaining the healthy,competitive title insurance marketplace in California," stated CLTA ExecutiveVice President Craig Page. "The legislation is just the latest example of theindustry's effort to promote consumer choice in the title insurance market.The competitive market in California has led to title insurance rates that arebelow the national average according to Bankrate.com," added Page.

SB 133 passed through the Legislature with overwhelming, bi-partisansupport and is supported by the California Department of Insurance. Earlierin 2008, the CLTA joined with Insurance Commissioner Poizner in launching theTitleWizard, a web site where consumers can view title rates and real estateinformation.

The California Land Title Association (CLTA) is a non-profit corporationfounded in 1907 and proudly celebrated its 100th anniversary last year. TheAssociation's membership is comprised of title insurance companies andunderwritten title companies conducting business throughout the state ofCalifornia. The goals of the CLTA include expediting the transfer andinsurance of title to real property throughout California, increasing thepublic's awareness of the value and purpose of title insurance, and protectingprivate property rights.

Title insurance is used by homebuyers and lenders for protection againstback taxes, undisclosed liens, legal judgments, forgeries, fraud and a host ofother potential legal/financial problems that can arise when purchasing orrefinancing property. Most of the title insurance premium goes towardsidentifying and eliminating these potential problems before the close ofescrow. Consumers pay only once for title insurance -- there are no monthlypremiums -- for coverage that lasts as long as they own the property.

Website: http://www.clta.org Contact: Craig Page (916) 444-2647SOURCE California Land Title Association