The title insurance industry, and the attorneys who often act as its agents, are facing several challenges in 2015, and the industry must do more to prepare itself to face them, said Michelle Korsmo of the American Land Title Association (ALTA) speaking on Monday at the Real Estate Bar Association’s Spring Conference in Norwood.

The most obvious immediate hurdle facing the industry is the implementation of the new Truth In Lending Act Disclosure rules, which will fundamentally alter closing procedures when it comes into effect in August. A breakout session on the new rule and lenders’ expectations for the attorneys they work with produced several rounds of audible groans from the audience as the assembled attorneys began to understand their impact.

But the industry must do more to improve consumers’ understanding of the benefits it offers, particularly as some in Washington have expressed skepticism of its value. Korsmo pointed to recent studies undertaken by ALTA to help agents reach out to consumers more effectively as a possible guide.

“The sooner you educate buyers about title insurance, the better they feel about it, the more they understand the protections involved, [and] the more likely they are to say yes,” she said.

But she warned attendees that they need to reframe how they educate consumers about the benefits of title, staying away from jargon and sticking to real life examples.

Getting consumers onside is even more important given that the Consumer Financial Protection Bureau  – and perhaps more importantly, its founding mother, Sen. Elizabeth Warren – have both expressed skepticism about the value of title insurance to consumers.

“I may joke about it, but it is important to us that we have a strong and productive relationship with Sen. Warren and her office,” Korsmo said.

While the effects of the 2016 race on the regulatory environment are still murky – if Warren throws her hat into the ring, a move she has continuously rejected, she may be too busy to turn her attention to title – most presidential contenders are taking steps to position themselves as champions of the little guy, and the banking industry as a whole and title in particular makes a convenient punching bag.

“I will tell you, each of you in this room as professionals, when the finger pointing happens, the finger will be pointed at you,” Korsmo warned.