Please accept my apology. I didn't realize that you had been to every county in the country and found them all to be operating without any problems or inefficiencies. I'm sure if you call Marcy Kaptur and tell her that they all, already "got it right." She will be happy to drop the study from the bill. [As a side note: you may have missed a few counties in Ohio on your journey.]
For someone who is so critical of our elected officials, I'd expect you to support one who wants to actually conduct of study of what is done now, before enacting new laws. I do believe that the study will find a federal land title system is a bad idea, but that is only a small part of the study and I am glad that Kaptur is willing to consider a study before blindly trying to institute change.
I also believe that good information may be uncovered in such a study. It would surely include the opinions of the title industry, the mortgage industry, Realtors, appraisers, surveyors, maybe even abstractors. I would welcome the opportunity for these groups to educate the legislators about how the land records are used.
And you are really missing the point - as ALTA would like us all to do - the substantive provision of this bill requires mortgage assignments so that people will actually know who holds the notes on all the mortgages in this country. No more MERS, no more "robo-signers," no more fraudulent foreclosure affidavits from the thousands of MERS Assistant Secretaries and Vice Presidents.
It is a good bill. Don't let a study fool you into thinking it's not.
Best,
Robert A. Franco
SOURCE OF TITLE
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