But if the economy weakens it can only add to credit-related problems.It will take some more time to gauge whether the problems of sub prime mortgages have seeped into Alt-A mortgages and the broader mortgage market, and understand its true impact on mortgage rates.

It didn't matter to me though.I wouldn't buy a property from my mother without an ALTA Title policy so fortunately, and to the relief of my agent, I was covered and my sale went through on time with only this little hiccup.

Under ALTA regs, and with regard to TILA if it applies, you can not go to escrow or closing without a valid contract, that is the source document to establish any closing, even in the Great Republic of Cali.

You can easily get sideways with ALTA and federal laws if fees don't end up in the closing statement.

It costs about $75.The endorsement provides the assignee of a mortgage or deed of trust insured under a CLTA Standard Coverage Policy or an ALTA Loan Policy with assurances concerning (a) the validity of the assignment to evidence the transfer of the entire beneficial interest of the named assignee; and (b) that no full or partial reconveyance, and no modification or subordination of the insured mortgage or deed of trust appears of record.

Alt-A is another part of the equation that is all but going away.

My vacation rental cabin is in Alta Sierra, near the start of JO.

These folks have Alt-A and even Prime loans.

.- Make sure you are getting a good Lender Title Insurance to secure your lien.  125% ALTA policies with no Western Regional Exceptions (also known as 2006 Extended Policy Coverage) are great for private bennies in California, and that may also be true of New York. 

When we purchased the properties, we also purchased an ALTA Homeowners policy of title insurance.