With all the problems getting paid and I am sure at one time so did the appraisers, how hard would it be to get the Title Search to be POC (paid outside of closing)?
The appraisers don't turn over their report or even won't start it until payment is received. The borrowers pay for it up front out of their pockets. As long as the appraisers is not on a lender's black list it is accepted.
Why can't we as abstractors be treated the same. This would solve several problems. The first being paid. Second we could charge exactly what the search is worth. Third, unless the searcher has been black listed a title company would be able to accept it, thus saving the time and money.
Those more familiar with RESPA and accepted closing proceedures please chime in and let us know your thoughts.
Thanks,
Jay
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