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[-] Errors on title reports from India - Lisa Ramsey/TX (6 replies)
5/6/2016 3:20:09 PM (3254 views)
Re: Errors on title reports from India - Will Duncan/NC
5/6/2016 3:57:28 PM (3005 views)


From what I understand new changes in the Consumer Finance Protection act changed that trend, adding substantially more  liability on the lender thus they were shying away from off-shore online title search vendors. I have witnessed this, as throughout end of 2015 through to current I frequently get messages asking if I would be willing to start an on-shore company or office on their behalf (it happens at LEAST once a week). It is speculated this is because while they provide a price suppressed service at very low price, the liability outweighs the money saved.

Also think about it: suppose an off-shore company (for example, one from China or India) conducts a title search on behalf of a lender. They miss some critical instrument(a pending foreclosure, etc). The bank is liable, but the bank is going to, in a normal case, sue you, correct? Well now that company is all the way in ANOTHER COUNTRY subject to different laws. Even when it comes to International Law, getting counsel to sue them will cost you an ENORMOUS amount of money and you may not even see a dime. Even if you do, it will be LONG before you see it and the legal costs would be just too high for it to even matter.

Thus, I don't think anyone, if they have encountered this scenario, would be willing to speak, but I too encourage them to create a fake-login and discuss it, as I too would be interested in hearing their story.

 

 

 

 

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Re: Errors on title reports from India - Lisa Ramsey/TX
5/6/2016 5:51:20 PM (2844 views)
Re: Errors on title reports from India - Will Duncan/NC
5/6/2016 6:00:07 PM (2797 views)
Re: Errors on title reports from India - Lisa Ramsey/TX
5/6/2016 6:11:04 PM (2868 views)
Re: Errors on title reports from India - Dinesh Valecha/PA
5/23/2016 11:23:17 AM (2448 views)
Re: Errors on title reports from India - Allen Bruce/OH
5/30/2016 12:30:13 PM (2497 views)


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