OAR 813-020-0047
Title Insurance


A loan under the Single-Family Mortgage Program must be covered by a title insurance policy issued in American Land Title Association (ALTA) form by a title insurance company authorized to transact insurance in Oregon by the Department of Consumer and Business Services. All of the following requirements apply to a title insurance policy under this rule:

(1)

The amount of coverage of the policy must be at least equal to the outstanding principal balance of the program loan.

(2)

The benefits of the policy must run to the Department, as either named insured or assignee.

(3)

The policy may not be subject to any exceptions or conditions other than those previously approved by:

(a)

The Department;

(b)

The federal Department insuring or guaranteeing the loan, if any; or

(c)

A private mortgage insurer, if any.
Last Updated

Jun. 8, 2021

Rule 813-020-0047’s source at or​.us