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[-] Excellent article on our workload downturn - Alix Ott/MI (12 replies)
4/12/2018 6:26:35 AM (4010 views)
Good read .. - Bobbi Shorthouse, Notary Public/CT
4/12/2018 7:55:35 AM (2675 views)
Re: Good read .. - Alix Ott/MI
4/12/2018 8:12:06 AM (2610 views)
Re: Good read .. - F P/VA
4/12/2018 10:29:50 AM (2571 views)
Re: Good read .. - William Duncan/NC
4/12/2018 1:17:13 PM (2580 views)
Re: Good read .. - F P/VA
4/12/2018 2:07:20 PM (2544 views)
Re: Good read .. - William Duncan/NC
4/12/2018 2:30:10 PM (2706 views)
Re: Good read .. - F P/VA
4/12/2018 3:03:40 PM (2694 views)
Re: Good read .. - William Duncan/NC
4/12/2018 4:33:57 PM (2697 views)
Re: Good read .. - William Duncan/NC
4/12/2018 1:47:42 PM (2548 views)


In re India...(again, I am not against working with off shore companies as long as they A) are transparent B) pay up C) Are legit D) operate with American interests in mind..)

I do not think it is India at fault per say. In 2015 back on LinkedIn, I went into a group where are the big players hang out: Title Insurance Executives, Mortgage Officers for Fortune 500 Lenders, big time real estate attorneys, etc.

I asked a question in a discussion thread "What are your thoughts on outsourcing Title Search to off-shore companies?"

It was viewed by over 10,000 by the end of the day and by the end of the week it was HUGE! It gave me some insight(and advertised my business that got me a new client in the form of a Litigation Firm). 

General Consensus?  No way. Sure, cheap, but at the top tier you start messing with a lot of Financial Risk/Compliance stuff. The sort of thing that can get a company fined millions or billions, like these guys: https://www.globalcustodian.com/nasd-fines-four-fidelity-brokers-for-record-keeping-violations/. Imagine if that was your Equity Loan....

That is courtesy of the National Association of Securities Dealers. Then there are this...and this is OCWEN: https://www.housingwire.com/articles/37873-washington-hits-ocwen-with-fine-for-using-unlicensed-offshore-companies

I spoke with one of the managing partners at one of the largest REO law firms in North Carolina who, in a meeting, told me about how wake of the Housing Bubble a lot of emphasis was put on risk and compliance via the Consumer Financial Protection Act.

I am waiting on my friend to send me the article while I write this in-between Vendor Management, but one of the large "top 10" Title Insurance Companies is starting to get MILLIONS in Title Insurance Claims because they serviced Mortgage Loans to an "off shore" company, so I think slowly-but-surely there is an uptick in companies swinging back for on-site Abstractors, although technology is still a front line competitor.

I will say this in closing: there are many great Abstractors out there, and there are great Title Business Owner-Operators out there. But I am finding that those who are both (like me and Jay Duncan...no relation) are rare. There are many Abstractors out there who ROCK TITLE SEARCH...but SUCK in terms of being business operators. I have said this in previous posts: be innovative, be competitive, be driven, be smart. See an increased demand? Put a price on it. Have a chance to offer a new product or service? Put a price on it. Got screwed over by "no payers", create a PayPal, offer to take Credit Card, and CHARGE UP FRONT. YES: PUT A PRICE ON IT.

I fight for everyone but I cannot do it unless you help yourself first. 

Hugs to all!

-Will 

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Re: Good read .. - F P/VA
4/12/2018 9:57:50 AM (2514 views)
Re: Good read .. - William Duncan/NC
4/12/2018 1:05:10 PM (2559 views)
Re: Good read .. - Alix Ott/MI
4/12/2018 1:08:44 PM (2474 views)

Paid - Sara Tressler/PA
4/9/2018 11:57:45 AM (1971 views)

[+] Select Business Services - Smitty Strickland/SC (3 replies)
4/3/2018 6:04:38 PM (3660 views)

[+] ALWAYS GET $ UPFRONT - sam r/FL (4 replies)
4/3/2018 4:30:04 PM (2409 views)

[+] Interesting - F P/VA (2 replies)
4/3/2018 11:32:37 AM (3865 views)




[+] About T-00 Copy in TX for Title Searches - Abhinav Kumar G/TX (3 replies)
3/29/2018 12:32:58 PM (2269 views)

[+] Your Home as see by . . . - David Bloys/TX (2 replies)
3/28/2018 12:39:19 PM (3548 views)

[+] Searchtec - Smitty Strickland/SC (7 replies)
3/28/2018 11:13:41 AM (2547 views)

[+] FNF ACQUIRING STEWART - Heidi Gemeling/FL (2 replies)
3/27/2018 2:21:41 PM (2546 views)

[+] Abacus Tech Services LLC - Brian Gibson - David Bloys/TX (4 replies)
3/26/2018 6:12:10 PM (2157 views)

[+] Block chain - F P/VA (12 replies)
3/25/2018 9:57:09 PM (2571 views)

[+] Equity National Title - Smitty Strickland/SC (4 replies)
3/25/2018 2:59:32 PM (2430 views)

[+] Advanced Digital Sys - William Duncan/NC (3 replies)
3/22/2018 2:33:08 PM (1936 views)

[+] Comment on "Errors & Omissions Insurance: An Expensive Necessity or an Unnecessary Luxury?" - Source of Title/OH (11 replies)
3/14/2018 12:26:10 PM (2645 views)

[+] What Is Your Most Isolated County? - David Bloys/TX (22 replies)
3/13/2018 2:21:39 PM (3856 views)


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