So they "raise" their standards to what they should have always been? Yippee! But I'll bet you that they're still more interested in the "big 3" questions when looking for a title searcher: How much, how fast and do you have E&O? Nothing in the memo about finding qualified title searchers? Big surprise.
I remember when refi's and a foreclosures were full searches unless they had the owner's policy and they would only accept a policy from an agent that was known to do his or her work properly. I still have one client that does full 60 year searches for refi's.
And of course we are now in a situation where you have no idea if you can trust a policy. Was the search done by an experienced title searcher? What kind of search was done?
An "uptick" in claims? I wonder what the real numbers are? If it was really just an uptick they would not be changing their standards.
But, all in all, I guess this is good news. Might be much too late. I know many talented title people who have gone off to find real jobs. And many more who would if they could. And I doubt there are many title searchers who would recommend our profession to their friends or children.
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