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Requiring Full E&R for Last Owner Searches - Bruce Lutz/PA
10/4/2021 1:57:10 PM (3323 views)
Re: Requiring Full E&R for Last Owner Searches - Smitty Strickland/SC
10/4/2021 3:01:40 PM (4241 views)
Re: Requiring Full E&R for Last Owner Searches - Robert Franco/OH
10/4/2021 4:58:59 PM (4415 views)
Re: Requiring Full E&R for Last Owner Searches - Kurt deVries/FL
10/5/2021 11:45:19 AM (4212 views)
Re: Requiring Full E&R for Last Owner Searches - Smitty Strickland/SC
10/8/2021 10:54:18 AM (4109 views)
Re: Requiring Full E&R for Last Owner Searches - Bruce Lutz/PA
10/11/2021 9:47:30 AM (4033 views)
Re: Requiring Full E&R for Last Owner Searches - Leigh Attridge/MA
10/10/2021 9:14:44 AM (3971 views)
Re: Requiring Full E&R for Last Owner Searches - Alix Ott/MI
10/11/2021 8:32:16 AM (4055 views)
Re: Requiring Full E&R for Last Owner Searches - Robert Franco/OH
10/11/2021 10:29:29 AM (4173 views)
Re: Requiring Full E&R for Last Owner Searches - Alix Ott/MI
10/11/2021 11:17:30 AM (3879 views)
Re: Requiring Full E&R for Last Owner Searches - Robert Franco/OH
10/11/2021 11:49:04 AM (4001 views)
Re: Requiring Full E&R for Last Owner Searches - Garret  Fitzgerald/VA
10/11/2021 8:47:25 AM (3857 views)
Re: Requiring Full E&R for Last Owner Searches - Rene Blevins/VA
11/9/2021 8:56:21 AM (3860 views)
Re: Requiring Full E&R for Last Owner Searches - WAYNE QUICK/NC
10/11/2021 9:07:19 AM (3964 views)
Re: Requiring Full E&R for Last Owner Searches - Shannon Budziak/VT
10/11/2021 10:06:02 AM (3861 views)
Re: Requiring Full E&R for Last Owner Searches - Smitty Strickland/SC
10/17/2021 12:15:52 PM (3813 views)
Re: Requiring Full E&R for Last Owner Searches - SUZANNE WALLACE/CA
11/8/2021 11:18:42 PM (3429 views)
Re: Requiring Full E&R for Last Owner Searches - Jeanine Johnson/MN
10/11/2021 10:44:54 AM (3766 views)
Re: Requiring Full E&R for Last Owner Searches - Philip Apter/CT
10/11/2021 7:11:59 PM (3862 views)
Re: Requiring Full E&R for Last Owner Searches - SUZANNE WALLACE/CA
11/8/2021 11:20:10 PM (3319 views)
Re: Requiring Full E&R for Last Owner Searches - Paula Reynolds/FL
10/18/2021 11:46:34 AM (3769 views)
Re: Requiring Full E&R for Last Owner Searches - Larry Crooks/OH
10/19/2021 8:41:55 AM (3869 views)

Here is what is happening in the search/underwriting world (and has been for 20 years or more depending on what state you are in).

 

Data shows that an underwriter can require the follow scope of search on an Owner Policy:

1. Search from all liens and encumbrances from the last owner forward (WDD/PMM)

Extra cautious underwriters might say last TWO Owners forward.

During this search period the underwriter is looking for all items that need to be paid and released and closing (mortgages, liens, etc).

When an underwriter has evidence of an insured transaction the risk of claims for a missed lien or mortgage goes WAY down. So the time spend searching the owners before that does not bear fruit. It's simply a waste of the abstractors time.

In addition to the liens and mortgages, underwriters want to show easements, restrictions, HOA, Decs, etc on the title commitment. This is where you may have some disagreement on how far back these B2 items need to be searched for. 

One school of thought says, if the plat was recorded longer ago than the statutory search period (or customary) in that state then the abstractor does not need to conduct a further search because basically everything that affects the property in the last 42 years (Ohio Example) has been found in the last owner or last two owner search.

Others might say, we really want these B2's no matter how old they are, but as we all know that would take us back to 1900 in many places looking for things like joint driveway easements in OLD allotments, etc.  

As we all now, once you search a subdivision one time, you can save the B2s in your files and pull them out when that subdivision comes up again and slap them on the file for the customer. This is typically termed pull the plat card or pulling the subdivision base file. 

 If you do it right you will charge the customer for the 1 or 2 owner search (whichever they require) and then charge them something for the B2's. By saving and repeating the B2's you will be able to turn orders faster and charge many times for the work you did one time.

There will be LOTS of times (if the underwriter doesn't require any B2's behind the statutory/customer period where you are simply doing a 1 or 2 owner search (for a purchase) just like you would for a loan policy (refinance). And if that's the case, that's all the customer should be charged for IMO. 

 Clearly it's unreasonable for a client to think you are going to get B2's for the same price as a 1 or 2 owner search. I think most of your clients will understand that if you explain it to them.  

 While I'm employed by an underwriter, I am not speaking on behalf of the company here.

 

 

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Re: Requiring Full E&R for Last Owner Searches - SUZANNE WALLACE/CA
11/8/2021 11:22:20 PM (3571 views)
Re: Requiring Full E&R for Last Owner Searches - Larry Crooks/OH
11/9/2021 8:56:05 AM (3663 views)
Re: Requiring Full E&R for Last Owner Searches - SUZANNE WALLACE/CA
11/8/2021 11:17:34 PM (3395 views)
Re: Requiring Full E&R for Last Owner Searches - Serena Stout/VA
11/15/2021 8:40:20 AM (3403 views)
Full search = full search price - Victoria Moate/NJ
11/16/2021 10:13:56 PM (3678 views)
Re: Full search = full search price - Larry Crooks/OH
11/22/2021 9:28:26 AM (3672 views)
Re: Full search = full search price - Victoria Moate/NJ
11/22/2021 1:15:33 PM (3576 views)
Re: Full search = full search price - Larry Crooks/OH
11/22/2021 1:28:28 PM (3521 views)
Re: Full search = full search price - Victoria Moate/NJ
11/22/2021 4:07:42 PM (3504 views)
Re: Full search = full search price - Larry Crooks/OH
11/22/2021 4:56:25 PM (4620 views)
Re: Full search = full search price - Victoria Moate/NJ
11/22/2021 5:25:11 PM (3574 views)
Re: Full search = full search price - Larry Crooks/OH
11/23/2021 10:24:45 AM (3590 views)
Re: Full search = full search price - Victoria Moate/NJ
11/23/2021 10:53:54 AM (3370 views)
Re: Full search = full search price - Larry Crooks/OH
11/23/2021 12:21:17 PM (3400 views)
Re: Full search = full search price - Victoria Moate/NJ
11/23/2021 3:47:04 PM (3522 views)
Re: Full search = full search price - Larry Crooks/OH
11/23/2021 4:06:42 PM (3404 views)
Re: Full search = full search price - Victoria Moate/NJ
11/23/2021 4:11:22 PM (3450 views)
Re: Full search = full search price - Larry Crooks/OH
11/23/2021 4:20:36 PM (3458 views)

Priority Title & Escrow, LLC - Smitty Strickland/SC
10/2/2021 5:26:51 PM (2668 views)

Free Metes and Bounds online sofware - Heidi Gemeling/FL
9/29/2021 7:54:29 PM (2972 views)
Re: Free Metes and Bounds online sofware - Robert Franco/OH
9/30/2021 10:26:51 AM (4171 views)
Re: Free Metes and Bounds online sofware - Heidi Gemeling/FL
9/30/2021 10:51:13 AM (4266 views)
Re: Free Metes and Bounds online sofware - Anita Backlund/MN
10/3/2021 10:20:46 AM (4154 views)
Re: Free Metes and Bounds online sofware - Heidi Gemeling/FL
10/3/2021 6:16:55 PM (4080 views)
Re: Free Metes and Bounds online sofware - Anita Backlund/MN
10/4/2021 8:45:40 AM (4048 views)
Re: Free Metes and Bounds online sofware - Heidi Gemeling/FL
10/4/2021 8:55:22 AM (4237 views)
Re: Free Metes and Bounds online sofware - REBECCA RIZZONELLI/PA
10/4/2021 9:20:20 AM (3983 views)
Re: Free Metes and Bounds online sofware - Anita Backlund/MN
10/4/2021 3:40:33 PM (4173 views)
Re: Free Metes and Bounds online sofware - Lou Ann Steele/TN
10/8/2021 12:23:36 PM (4016 views)
Re: Free Metes and Bounds online sofware - Jeanine Johnson/MN
10/4/2021 9:39:41 AM (4056 views)
Re: Free Metes and Bounds online sofware - Lou Ann Steele/TN
10/8/2021 3:19:16 PM (3974 views)
Re: Free Metes and Bounds online sofware - Victoria  Wertz/GA
10/11/2021 10:09:21 AM (3877 views)
Are you trying to be a surveyor? - Victoria Moate/NJ
11/16/2021 10:04:43 PM (3621 views)
Are you trying to be a surveyor? - Victoria Moate/NJ
11/16/2021 10:05:28 PM (3633 views)

Los Angeles County - October 1st - Dan Zook/NY
9/28/2021 7:52:23 PM (2512 views)

Low Volume - Jason Roy/DE
9/27/2021 11:46:50 AM (3105 views)
Re: Low Volume - William Duncan/SC
9/27/2021 12:39:18 PM (4643 views)
Re: Low Volume - Jason Roy/DE
9/27/2021 2:42:12 PM (4365 views)
Re: Low Volume - Heidi Gemeling/FL
9/28/2021 6:27:30 AM (4494 views)
Re: Low Volume - Ana Rosen/PA
10/4/2021 9:58:24 AM (4223 views)
Re: Low Volume - Kristie Rich/AZ
10/12/2021 12:03:04 PM (3922 views)
Re: Low Volume - Rita Killary/NY
10/12/2021 2:19:43 PM (4044 views)
Re: Low Volume - Kristie Rich/AZ
10/12/2021 2:24:44 PM (4082 views)
Re: Low Volume - Rita Killary/NY
10/12/2021 2:29:45 PM (4091 views)




Union, NC - Ana Rosen/PA
9/16/2021 2:55:31 PM (2671 views)
Re: Union, NC - Richard  Gibbons/SC
9/20/2021 9:09:01 AM (3897 views)
Re: Union, NC - Ana Rosen/PA
9/20/2021 9:25:49 AM (3978 views)
Re: Union, NC - Richard  Gibbons/SC
9/20/2021 3:40:38 PM (3768 views)

ALTERNATIVE FAX NUMBER - Heidi Gemeling/FL
9/13/2021 5:07:42 PM (2396 views)
Re: ALTERNATIVE FAX NUMBER - Brandon ONeal/TN
9/13/2021 6:24:24 PM (4165 views)
Re: ALTERNATIVE FAX NUMBER - Craig Honeker/AZ
9/16/2021 5:31:32 PM (3896 views)
Re: ALTERNATIVE FAX NUMBER - Marilyn Knobel/NY
9/20/2021 9:02:36 AM (3808 views)
Re: ALTERNATIVE FAX NUMBER - Alix Ott/MI
9/28/2021 9:27:55 AM (3692 views)

NobleServe,LLC - Smitty Strickland/SC
9/13/2021 5:00:51 PM (3030 views)
Re: NobleServe,LLC - Randi Erickson/MN
9/15/2021 3:23:17 PM (4379 views)
Re: NobleServe,LLC - Marilyn Knobel/NY
9/20/2021 9:03:24 AM (3971 views)

ACH, Bill.com, Venmo, Paypal etc. - Dan Zook/NY
9/9/2021 12:48:14 PM (2828 views)
Re: ACH, Bill.com, Venmo, Paypal etc. - William Duncan/SC
9/10/2021 11:40:16 AM (4179 views)
Re: ACH, Bill.com, Venmo, Paypal etc. - Dan Zook/NY
9/10/2021 5:41:55 PM (4038 views)
Re: ACH, Bill.com, Venmo, Paypal etc. - Jolene Crofoot/MN
9/13/2021 12:16:25 PM (3896 views)
Re: ACH, Bill.com, Venmo, Paypal etc. - Erich Wiedel/MD
9/20/2021 9:01:49 AM (3841 views)
Re: ACH, Bill.com, Venmo, Paypal etc. - Alix Ott/MI
9/28/2021 9:24:07 AM (3792 views)
Re: ACH, Bill.com, Venmo, Paypal etc. - Dan Zook/NY
9/28/2021 6:58:28 PM (9203 views)

CRYPTOCURRENCY AND ESCROW ACCOUNTS - Heidi Gemeling/FL
9/8/2021 8:01:04 AM (2524 views)
Re: CRYPTOCURRENCY AND ESCROW ACCOUNTS - James Powell/MI
9/9/2021 12:04:26 PM (4163 views)
Re: CRYPTOCURRENCY AND ESCROW ACCOUNTS - Ed Frederick/IN
9/9/2021 2:36:13 PM (4144 views)
Re: CRYPTOCURRENCY AND ESCROW ACCOUNTS - Jeanine Johnson/MN
9/13/2021 9:50:23 AM (4100 views)
Re: CRYPTOCURRENCY AND ESCROW ACCOUNTS - Jeanine Johnson/MN
9/13/2021 9:06:03 AM (3897 views)
Re: CRYPTOCURRENCY AND ESCROW ACCOUNTS - Heidi Gemeling/FL
9/13/2021 10:19:05 AM (4179 views)
Re: CRYPTOCURRENCY AND ESCROW ACCOUNTS - Robert Franco/OH
9/14/2021 11:50:34 AM (3924 views)
Re: CRYPTOCURRENCY AND ESCROW ACCOUNTS - Garret  Fitzgerald/VA
10/11/2021 8:49:34 AM (3397 views)
Re: CRYPTOCURRENCY AND ESCROW ACCOUNTS - george Hubka/MI
10/25/2021 11:15:37 PM (3664 views)
Re: CRYPTOCURRENCY AND ESCROW ACCOUNTS - Garret  Fitzgerald/VA
10/26/2021 5:40:01 AM (3472 views)
Re: CRYPTOCURRENCY AND ESCROW ACCOUNTS - george Hubka/MI
12/19/2021 9:29:11 PM (3635 views)

Vermont appointments and fees - Ana Rosen/PA
9/7/2021 5:35:19 PM (2659 views)
Re: Vermont appointments and fees - Rita Killary/NY
9/7/2021 7:05:50 PM (3840 views)
Re: Vermont appointments and fees - Ana Rosen/PA
9/8/2021 8:37:42 AM (3901 views)
Re: Vermont appointments and fees - Christopher Wigg/CA
9/10/2021 2:13:12 PM (3902 views)

JMT Doucment Services - Carlyle Millard/WV
9/1/2021 9:36:18 PM (2248 views)

Turning Houses into Corporations - Robert Franco/OH
8/26/2021 8:35:17 AM (3027 views)
Re: Turning Houses into Corporations - Jay Duncan/MO
8/26/2021 9:15:55 AM (3952 views)
Re: Turning Houses into Corporations - Melinda Barcum, J.D./AL
9/10/2021 8:54:22 AM (3820 views)
Re: Turning Houses into Corporations - Alix Ott/MI
9/13/2021 9:59:53 AM (3785 views)
Re: Turning Houses into Corporations - Alix Ott/MI
9/13/2021 10:21:55 AM (3753 views)
Re: Turning Houses into Corporations - Robert Franco/OH
9/13/2021 11:36:07 AM (3622 views)
You can't "turn a house" into an LLC - Victoria Moate/NJ
11/1/2021 5:57:39 PM (3427 views)
You can't "turn a house" into an LLC - Victoria Moate/NJ
11/1/2021 6:04:38 PM (3582 views)

Sanrit Technologies Non-Payer - Ron Beavers/FL
8/17/2021 2:04:25 PM (2714 views)
Re: Sanrit Technologies Non-Payer - James Powell/MI
8/17/2021 2:29:59 PM (4509 views)
Re: Sanrit Technologies Non-Payer - William Duncan/SC
8/19/2021 1:45:30 PM (3923 views)
Re: Sanrit Technologies Non-Payer - george Hubka/MI
8/23/2021 10:12:25 PM (3863 views)
Re: Sanrit Technologies Non-Payer - Joni Bargel/MN
8/23/2021 12:25:11 PM (4037 views)

Nationwide Abstrax - R Braun/VA
8/12/2021 10:15:39 AM (3351 views)
Re: Nationwide Abstrax - Jay Duncan/MO
8/16/2021 1:12:41 PM (4102 views)
Re: Nationwide Abstrax - Lisa Vazquez/VA
8/16/2021 1:23:05 PM (4041 views)


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