The purpose of commitment clearing is to ensure compliance with what?

Commitment clearing is a crucial process in the title insurance industry designed to address and resolve any issues or objections raised during the underwriting phase of a title transaction. This process ensures that all concerns identified by underwriters are adequately cleared before the issuance of a title policy.

In this context, underwriting objections could refer to various issues that might affect the insurability of a title, such as liens, claims, or defects that need to be resolved to provide a clear title. By clearing these objections, title companies can ensure that the final title policy will be free of defects and provide the necessary protection to the insured party.

The other options like title commitment, title report, and title policy are related to the title insurance process but do not specifically pertain to the act of resolving underwriting objections. A title commitment is a preliminary report that outlines the conditions that must be met before a title policy can be issued, while a title report summarizes the status of the title. A title policy, on the other hand, is the final product that provides insurance coverage. However, without addressing underwriting objections through commitment clearing, a title policy cannot be issued with confidence that it will protect against potential claims.