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[+] UNFRIENDLY E-MAILS - Angelica Schneider/IN (8 replies)
1/18/2006 10:51:09 PM (2157 views)

[+] New positions at NALTEA - Robert Franco/OH (1 reply)
1/18/2006 12:31:13 PM (2009 views)

[+] You Don't Get No Respect - Kevin Ahern/CT (2 replies)
1/18/2006 9:20:20 AM (2029 views)

[+] So...what did you think? - Jay Duncan/MO (5 replies)
1/16/2006 11:26:11 PM (2048 views)

[+] Please go to www.besstitle.com for a very important message in upper right side of website! - Jason Sheppard/PA (8 replies)
1/16/2006 3:31:49 PM (2556 views)


Real Title Services


[+] Thank you US Title Search - Lisa Ramsey/TX (2 replies)
1/15/2006 11:04:54 AM (2291 views)

2006 NALTEA Winter Conference - January 14, 2006 - Jarrod Clabaugh/OH
1/14/2006 3:00:36 PM (1549 views)

Naltea Winter Conference - First Night - Hospitality Suite - NALTEA/MO
1/13/2006 11:51:29 PM (1488 views)

[+] Drawing software from NALTEA Conf. - Spencer Kinsey/AR (3 replies)
1/13/2006 12:29:50 PM (1889 views)

[+] Parking - Nikky/FL (2 replies)
1/13/2006 9:15:05 AM (1903 views)

[+] Courthouse Connection - christine/MA (7 replies)
1/12/2006 1:44:34 PM (2055 views)

[+] Has anyone ever heard of DocuQuest or Big Sky Title?? - Patrick Furman/NY (4 replies)
1/12/2006 11:55:25 AM (2145 views)

[+] Anybody know about ZEN title? - Jim Riggs/IN (3 replies)
1/11/2006 9:48:14 PM (1943 views)

[-] You guys/gals are gonna love this ... - Ellen Malloy/MO (10 replies)
1/11/2006 3:44:27 PM (3252 views)
Re: You guys/gals are gonna love this ... - Robert Breakell/CT
1/11/2006 4:58:16 PM (2178 views)
Re: You guys/gals are gonna love this ... - Scott Perry/PA
1/11/2006 5:29:17 PM (2076 views)
Re: You guys/gals are gonna love this ... - Robert Breakell/CT
1/11/2006 5:43:07 PM (2225 views)
Re: You guys/gals are gonna love this ... - Sandra Morton/KS
1/11/2006 5:47:02 PM (2211 views)
Re: You guys/gals are gonna love this ... - Scott Perry/PA
1/11/2006 7:20:06 PM (2130 views)
Re: You guys/gals are gonna love this ... - Lisa Ramsey/TX
1/11/2006 7:59:36 PM (2140 views)
Re: You guys/gals are gonna love this ... - Robert Breakell/CT
1/11/2006 8:07:50 PM (2154 views)
Re: You guys/gals are gonna love this ... - Robert Franco/OH
1/12/2006 11:22:47 AM (3889 views)

Actually, it is a very good article and it makes some wonderful points.  Of course, Birny Birnbaum is a moron - there is much more involved in a title search that "tapping a few keys and printing a report."  However, the traditional title industry is working toward that and if they have their way it will become a reality.  It is already a reality for a large portion of the equity market and growing.

What the article does do is explain that their are alternatives to the traditional title insurance system that provides the same coverage - and does it much cheaper.  The best part is, the abstractor is more highly regarded AND compensated.

We reported on the Iowa Title Guarantee Fund in an article on August 8, 2005,
Iowa's Unique Position on Title Insurance.  Iowa sets much higher standards for their title searches, and it appears from the article on CNNMoney.com that the abstractors are better compensated - they indicate the abstractor's fee to be about $150 for the search.  This approach seems to be working very well; Iowa has a much lower claim rate than the rest of the industry and their premiums are much lower.

This is the problem we are all facing.  As the traditional title industry continues to lower their standards, the claims are rising and abstractors fees are getting lower.  We need more regulation, we need higher standards, and we need to be compensated to complete more thorough title searches. 

The traditional title industry should take a cue from Iowa and raise their standards for the title searches.  They need to place a higher regard on the title search and the qualified abstractors should be able to charge accordingly.

Just my take on it...

Best,
Robert A. Franco
SOURCE OF TITLE

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Re: You guys/gals are gonna love this ... - Ellen Malloy/MO
1/12/2006 12:12:32 PM (1978 views)
Re: You guys/gals are gonna love this ... - Danielle Nelson/WI
1/12/2006 2:54:25 PM (1989 views)

[+] Tolerance Please - Kevin Ahern/CT (2 replies)
1/11/2006 12:28:03 PM (2069 views)


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