I received an e-mail from LSI this morning, but with an attachment, so if the attachment was not read (or if it wasn''t able to be opened), LSI is joining 1st American with their "fee reduction". At least, LSI asks for a return e-mail or fax on the attachment.
"Good Evening,<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
LSI has been reviewing order processes and search requirements, and upon review LSI searches will soon no longer require tax on all searches. Attached is a form, we ask each of our title providers to review and send back at your earliest convenience.
If you have already returned this form we thank you for your immediate attention and please disregard.
Please send the completed form into (949) 271-0749.
Thank you,
National Client and Vendor Management
Group (800) 647-1320
Fax (949) 271-0749"
The attachment:
"URGENT - Immediate Response Required
First, I want to thank you for your continued service to LSI.
As you know, the market conditions continue to cause grave concerns within our industry. Due to these challenges which have resulted in reduction of lender order volume, LSI must review all aspects of our processes and find ways to reduce our expenses as our market dictates.
In our effort to streamline our processes, you will begin to receive product open order sheets that do not require any tax information. Due to this change in the order request, the fee for the search must be reduced $8.00 for the elimination of this segment of information. Agreement to these terms is indicated by your signature below. Please email NCVMfax@lsi-fnis.com or fax directly to 949-271-0749.
This request requires your immediate attention. We must be able to adjust to the economic issues that have impacted our industry. Non-compliance to this notification may affect order provided to you.
Linda Silverman
Vice President
National Vendor Relations, Manager
LSI, A Fidelity National Information Services Company
I, ______________________________ as authorized representative of (company)___________________________ approve $8.00 fee reduction for all products that previously requested tax information.
Date:_____________________"
At least LSI is asking for a response. Here is mine -
"Good morning Anya! I just received your e-mail, which seems pretty innoccuous. However, then I read the attachment demanding our fees be reduced, similar to e-mails sent out by 1st American.
Let me first advise you that the information we provide regarding real estate taxes has ALWAYS been provided as a courtesy, not an additional fee. Secondly, EVERYONE has been hit by the current market conditions, not just YOUR company. Thirdly, your orders have been coming in requesting a two owner search, but have a single owner search fee printed on the search form (another unilateral reduction of fees). Lastly, LSI is in arrears in payment to their vendors, at least to our company (over 45 days - which should be impossible since it is an auto pay system).
We do not consent to your unilateral reduction of our fees, which LSI agreed to several years ago.
Also, PLEASE BRING YOUR ACCOUNT PAYABLE TO THIS FIRM UP TO DATE!!!
Anita JW Backlund
APL Warranty Title LLC"
I agree that we ALL should stick together on this attack on our profession!!!
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