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to post a message: login - or - register | search messages | show all replies



[+] Capstone...Again.... - Rita Killary/NY (4 replies)
5/18/2016 8:40:53 AM (2844 views)

Any updates on Real Metrix? - Terry  Cox/PA
5/17/2016 10:08:09 PM (2177 views)

[+] Select Business Services - read the fine print - Alix Ott/MI (22 replies)
5/15/2016 7:19:08 PM (3629 views)

[+] Global Data Source / Title Prep - NO PAY - Dan Zook/NY (38 replies)
5/11/2016 12:39:35 PM (4409 views)

[+] Email correspondence between me and a title researcher... - Don Li/NC (19 replies)
5/7/2016 9:00:23 PM (3932 views)




[-] Errors on title reports from India - Lisa Ramsey/TX (6 replies)
5/6/2016 3:20:09 PM (3292 views)
Re: Errors on title reports from India - Will Duncan/NC
5/6/2016 3:57:28 PM (3157 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 (2987 views)
Re: Errors on title reports from India - Will Duncan/NC
5/6/2016 6:00:07 PM (2944 views)
Re: Errors on title reports from India - Lisa Ramsey/TX
5/6/2016 6:11:04 PM (3025 views)
Re: Errors on title reports from India - Dinesh Valecha/PA
5/23/2016 11:23:17 AM (2595 views)
Re: Errors on title reports from India - Allen Bruce/OH
5/30/2016 12:30:13 PM (2636 views)

[+] COMMFORCE PAYMENT? - jess barker/IL (7 replies)
5/5/2016 2:25:31 PM (2658 views)

[+] ABSTRAX LLC - Christine Johnson/NC (12 replies)
5/3/2016 10:34:22 AM (4244 views)

[+] Accurate Group Auto Pay?? - William Bertram/SC (5 replies)
5/2/2016 9:19:37 AM (3020 views)

[+] prosersolutions abstractor - SALLY BURSETH/WI (5 replies)
4/30/2016 10:26:32 AM (3145 views)

[+] Rockedges a non payer - Randi Erickson/MN (12 replies)
4/30/2016 7:31:56 AM (2721 views)

Scott Palen - Don Li/NC
4/26/2016 11:44:22 AM (2164 views)

[+] BEWARE of GRTechno Soft LLC - Scott Sieja/MI (5 replies)
4/26/2016 9:38:21 AM (3091 views)

[+] Any reviews on V7hillinc...? - Teresa Berbes/MA (8 replies)
4/25/2016 6:24:27 PM (2865 views)

[+] Certification and/or Registry - Deborah Mitchell/PA (1 reply)
4/19/2016 10:58:23 AM (2675 views)


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