A title company formed in a state other than Colorado is an example of:

A title company formed in a state other than Colorado is an example of:

• A. Domestic title insurer
• B. Foreign title insurance company
• C. Local title company
• D. National mortgage lender

Answer: (B)

In title insurance, whether an insurer is called domestic or foreign depends on where it is chartered. A company formed in another state and doing business in Colorado is a foreign title insurer in Colorado. It’s not domestic because it wasn’t organized in Colorado, and it isn’t a local designation used here. A national mortgage lender isn’t a title insurer at all, so that option doesn’t fit the role described.

In title insurance, whether an insurer is called domestic or foreign depends on where it is chartered. A company formed in another state and doing business in Colorado is a foreign title insurer in Colorado. It’s not domestic because it wasn’t organized in Colorado, and it isn’t a local designation used here. A national mortgage lender isn’t a title insurer at all, so that option doesn’t fit the role described.