June 27, 2025

ITG Minimum Abstract Standards require all abstract products used in the issuance of ITG products to certify to the following information:

1. The property searched (full legal description required).

2. The parties searched.

3. The time period searched, including “from” and “to” dates and times, with no time gaps between certifications.

When completing a short form abstracting product provided by the requester (e.g. pre-closing search certification or post-closing search certification), verify it includes this accurate information or add it to the form as required.

An examining attorney rendering a written preliminary title opinion for use in the issuance of ITG coverage, must include an acceptable method(s) of resolution for each objection or exception that impairs either (1) the titleholder’s interest or (2) the priority of the mortgage(s) to be guaranteed.

Field issuers are only authorized to issue commitments, certificates, and endorsements for residential properties defined as a single-family dwelling or multi-family dwelling consisting of four units or less. Field issuers must obtain ITG’s prior written authorization to issue coverage on a property that does not fall within this definition. ITG does not permit field issuance of commercial commitments or certificates. All commercial commitments and certificates must be issued in-house by the ITG Commercial Team.

A certificate preparer must always review the Schedule B, Part I tax exception to determine if the pre-populated tax installments phrase is accurate as is or if it requires updating. An important step in determining the accurate tax installments phrase is to review the fiscal year dates within the tax exception.

Reminder: If the mortgage or deed filing date is on or after July 1, 2025, the fiscal year dates in the Schedule B, Part I tax exception will auto-populate to July 1, 2024 - June 30, 2025, so you must amend the tax installments phrase accordingly.

ITG Participants acknowledge American Land Title Association (“ALTA”) Best Practices as minimum standards for title and settlement service providers. Participants agree to adopt and adhere to the ALTA Best Practices or equivalent practices regarding any services performed under the ITG Participation Agreement. ALTA Best Practices Framework: Title Insurance and Settlement Company Best Practices Version 4.1 was Published 09-17-2024.

Kim Praska; kim.praska@iowafinance.com; 515.452.0491

Kim provides production and closing assistance for ITG’s commercial department and she also assists with ITG’s residential Mortgage Certificate Release Program.

PLEASE NOTE: If you 'opt out' below, you will stop receiving ALL messages from IEDA|IFA. If you would like to change the email messages you receive, select 'manage' below. If you forward this email, others may unsubscribe you. Instead, copy the link to the 'online' version listed below and share that link.