Key Takeaways
- Five title risk categories: title defect, wire fraud, escrow, closing error, and regulatory.
- Wire fraud causes $1.8B in annual losses—never trust wire instructions from email without phone verification.
- Title insurance claims require written notification and full documentation—resolution takes 6-18 months.
- Prevention is dramatically cheaper than recovery for all title risks.
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Test Your Knowledge
1.What is operational risk?
2.What is a risk register?
3.What is the Recovery Time Objective (RTO)?