As unlikely as this sounds, we may be seeing cracks forming in the current practice of eliminating local experts.
As real estate markets are still tight, lenders and realtors are demanding fast, efficient, accurate services from title companies.
However, the ability of these large firms to compete in this area is limited due to years of moving operations to places like the Philippines and India in order to gobble profits in a short-lived cash grab.
Make no mistake: I have no problem with foreign competition when a fair playing field is evident. Indeed, so long as the corporate officers are serving the interests of the shareholders and not themselves, I would find such actions proper. The impropriety exists because these things are not true. Customers are officially waiting three days (the grapevine suggests longer) for preliminary reports. These reports often arrive with major flaws: missed title matters, misposted data, typing and transcription errors, and more. Staff stretched to the minimum is unavailable to execute corrections, leaving escrow officers apologizing for unwarranted delays and realtors threatening to take their clients elsewhere.
Now, a few small title companies are making moves against the big players. Hiring long time employees away from the big firms, a few old title folk have been promised the leeway they need and the support they deserve in producing a quality product. They are busy setting up shop as I write this. Interesting times.