Escrow & Title
In Arizona, the ALTA (American Land Title Association) lender's policy is required by:
AState law for all mortgage loans
BMost institutional mortgage lenders as a condition of the loan to protect their security interest✓ Correct
COnly for commercial loans above $1 million
DThe ADRE as part of all real estate transactions
Explanation
Most institutional mortgage lenders require an ALTA lender's (mortgagee's) title insurance policy as a condition of any mortgage loan to protect their security interest in the property from title defects.
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