You work for a bank as a new mortgage officer, and because of the cost associated with title insurance, your customers are frustrated about this loan closing requirement. So that you feel more well$-$versed on how title insurance works, you decided to do some outside research to gain a full understanding of the topic. Your senior mortgage loan officer believes this would be a great personal development and training opportunity, and asked you to write your findings in a memo format, answering the following prompt$/$questions: