Despite efficiencies, the average closing time is 59 days for a purchase transaction, and 47 days for a refi, according to leading mortgage software company Ellie Mae.

This not only frustrates buyers and homeowners, but it also costs lenders time and money – which has not escaped the notice of more forward-thinking title insurance companies seeking to streamline their part of the process.

Read the Instant Title guide to learn:

• What is instant title (and what it isn't)
  
• The benefits - and drawbacks - of expediting the search and clear-to-close process
  
• The impact of using risk-based decisions vs. rules-based decisions
  
• How to avoid sliding back into the old pre-COVID-19 way of handling transactions