I support this but there is a problem. How do you sue someone in India for breaking a state law in VA. How do you even prove who did the search when access is available online and they can do anywhere. The VLTA tried to get this passed and we could not get a VA congress person to support the bill also, they side stepped this when Fidelity the largest underwriter in the state said that if you did not get licensed with the VLTA as a certified title examiner that they would not use you. I am a certified VA licensed abstractor and I get 1 call a year where someone is looking for proof. All my employees who perform title searches are licensed which costs me thousands a year in lost revenue as I have to pay them by law to attend the classes to keep the license, to study, the cost of the classes, hotel costs, mileage and the loss if income while they are not producing which I gladly pay. The real problem is the small title company who struggles to stay in business with the cost on every front to stay in business continuing to rise on all fronts looking to you or me with a 40 or 45 cost of a current owner vs 24 hour turn time, typed reports for 5 or ten dollars in India. The truth is we can not compete with this. As regulators continue to cap profits for banks and mortgage lenders and increase lawsuits and their regulatiory costs there only way to off set it was to decrease the payout to vendors while our costs in America rise, India's prices have decreased. I have been offered Current owner searches for $5. How can you and I continue to exist in this world? Service, service, service. We must provide quicker turn times, better quality work as this is all we have. How do we do it? Technology. Soon you will do searches at your home with full access to all the info at the courthouse as every court continues to back scan older data.
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