Make a Claim

Mortgage brokers & title insurance – what’s the connection?

In earlier posts to the FCT Blog, we outlined the important protection and benefits that title insurance brings to home-owners and lenders. But why should a mortgage broker care about title insurance?

As most successful, career brokers might tell you, their business is based on service. They get the best for their clients and nurture their all-important lender relationships. So, what is in the best interest of borrowers and lenders should be in the best interest of the broker, right? Absolutely!

Over the last 20 years, title insurance has become nearly ubiquitous from a protection perspective. Lawyers buy it for their clients and lenders insist on it for themselves because there is no other way to create the same level of security around ownership and property title. It just makes sense that mortgage brokers should be champions of title insurance on that basis alone. But, there are even more compelling reasons for brokers to embrace and recommend title insured transactions – reasons that benefit brokers directly.

What really matters to someone who gets paid only at the end of a successful transaction? – having a successful transaction, of course. That means getting mortgage deals closed. Title insurance can help with that. Often, minor defects related to title, zoning, permits, etc. can be ‘insured over’ by a title insurer and make it possible for a deal to close weeks before it would otherwise.

Surveys are often required by lenders, which can add both delay and cost to the closing of a mortgage transaction. However, most lenders recognize and accept title insurance as an alternative because the policy will cover the lender for defects that would have been discovered in an up-to-date survey. This doesn’t just save time and money for clients – it enhances certainty around the transaction itself. Unmet mortgage requirements are an undesirable ‘loose end’, especially if they are unnecessary.

Lenders who have title insurance-driven closing models are also beneficial partners for the broker because their process is often less costly, more streamlined and faster to fund. FCT’s Platinum refinance program, for example, offers unique advantages for the broker, lender and borrower, including:

  • Managed, seamless process
  • Convenient in-home signing in most provinces (ideal for virtual broker operations)
  • Enhanced communication through email, milestone notifications and a Broker Hotline
  • Competitive fixed pricing with no surprises
  • Title insurance for the lender – also available for uninsured borrowers

Protection and security for your clients, enhanced service and speed, improved certainty around your transactions – all good things. If you are a broker and would like to understand more about the benefits of title insurance in your world, why not ask us or give us your comments. We would love to hear from you.


Insurance by FCT Insurance Company Ltd, with the exception of commercial policies. Subject to certain exceptions, commercial title insurance policies equal or below $10M CAD are provided by FCT Insurance Company Ltd. Commercial title insurance policies above $10M CAD are provided by First American Title Insurance Company. Services by First Canadian Title Company Limited. The services company does not provide insurance products. This material is intended to provide general information only. For specific coverage and exclusions, refer to the applicable policy. Copies are available upon request. Some products/services may vary by province. Prices and products/services offered are subject to change without notice.


®Registered Trademark of First American Financial Corporation.

Subscribe to the FCT Blog

Access a world of knowledge, inspiration, and expertise delivered straight to your inbox. Stay informed, stay inspired – sign up today!