February 17, 2009
Title industry members met by conference call earlier this month to discuss the Mortgage Bankers Association's Uniform Closing Instructions Working Group. The title company representatives discussed a newly revised draft of the closing instructions, as well as changes to the fraud and indemnification provisions of the draft. The MBA prepared a first draft in 2005 and had discussions with the ALTA in late 2006. The project has become a joint effort of the MBA, ALTA and American Escrow Association.