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Banks Say No? Hedge Funds Fill a Void In Lending - Leigh Attridge/MA
6/9/2011 8:54:49 AM (3108 views)

"Selling" SOT at NS3 - CHARLENE  PERRY/MD
6/8/2011 8:10:35 PM (3028 views)
Re: "Selling" SOT at NS3 - Slade Smith/OH
6/8/2011 9:07:39 PM (3470 views)
Re: "Selling" SOT at NS3 - Robert Franco
6/9/2011 3:02:30 PM (3229 views)

Why won't they talk to me? - Paula Reynolds/FL
6/8/2011 3:29:46 PM (2515 views)

If you owe money ... - Dan Zook/NY
6/8/2011 10:42:51 AM (3013 views)
Re: If you owe money ... - Robert Franco/OH
6/8/2011 11:19:02 AM (3576 views)
Re: If you owe money ... - Jessica Talley/FL
6/8/2011 5:34:03 PM (3497 views)
Re: If you owe money ... - Kym
6/9/2011 3:12:52 PM (3292 views)

Essex South ROD Robo Rejection Letter - Leigh Attridge/MA
6/7/2011 1:24:07 PM (3795 views)
Re: Essex South ROD Robo Rejection Letter - Jessica Talley/FL
6/7/2011 2:19:35 PM (3311 views)
Re: Essex South ROD Robo Rejection Letter - CHARLENE  PERRY/MD
6/7/2011 5:04:16 PM (3477 views)
Re: Essex South ROD Robo Rejection Letter - Edward Huguenin/SC
6/8/2011 8:02:53 AM (3513 views)
Re: Essex South ROD Robo Rejection Letter - Jessica Talley/FL
6/8/2011 5:36:07 PM (3495 views)
Re: Essex South ROD Robo Rejection Letter - CHARLENE  PERRY/MD
6/8/2011 8:01:50 PM (3355 views)
Re: Essex South ROD Robo Rejection Letter - Jeffrey Land/NJ
6/13/2011 10:29:36 AM (3183 views)
Re: Essex South ROD Robo Rejection Letter - Leigh Attridge/MA
6/13/2011 2:17:53 PM (3207 views)
Re: Essex South ROD Robo Rejection Letter - Robert Franco/OH
6/14/2011 10:00:46 AM (2992 views)


Real Title Services


Urban Settlement - Catherine Jackson/NC
6/7/2011 7:29:16 AM (2917 views)
Re: Urban Settlement - Carl Krueger/RI
6/8/2011 3:36:57 PM (3266 views)
Re: Urban Settlement - Kym/NJ
6/9/2011 4:22:20 PM (3378 views)
Re: Urban Settlement - TLA/PA
7/18/2011 7:36:35 PM (3104 views)

Bank of America Gets Pad Locked After Homeowner Forecloses On It - Edward Huguenin/SC
6/5/2011 2:22:12 AM (3921 views)
Re: Bank of America Gets Pad Locked After Homeowner Forecloses On It - Jessica Talley/FL
6/5/2011 7:50:14 PM (3433 views)
Re: Bank of America Gets Pad Locked After Homeowner Forecloses On It - Abstractor/GA
6/5/2011 9:05:18 PM (3401 views)
Re: Bank of America Gets Pad Locked After Homeowner Forecloses On It - Jessica Talley/FL
6/6/2011 7:20:53 AM (3289 views)
Re: Bank of America Gets Pad Locked After Homeowner Forecloses On It - Ron McPherson/IA
6/6/2011 5:37:19 PM (3237 views)
Re: Bank of America Gets Pad Locked After Homeowner Forecloses On It - Jessica Talley/FL
6/7/2011 5:50:22 AM (3213 views)

FOX & SPADER A/K/A FS ENTERPRISES A/K/A RISK MANAGEMENT SOLUTIONS - Paul /FL
6/4/2011 8:15:00 PM (3137 views)
Re: FOX & SPADER A/K/A FS ENTERPRISES A/K/A RISK MANAGEMENT SOLUTIONS - Rita Killary/NY
6/6/2011 9:28:58 AM (3417 views)
Re: FOX & SPADER A/K/A FS ENTERPRISES A/K/A RISK MANAGEMENT SOLUTIONS - Sandra Smith/FL
6/6/2011 9:45:52 AM (3394 views)

7 years ??? - monica froese/ME
6/3/2011 7:18:48 PM (3075 views)
Re: 7 years ??? - Ron McPherson/IA
6/3/2011 9:22:37 PM (3424 views)
Re: 7 years ??? - Robert Franco/OH
6/4/2011 12:10:50 PM (3521 views)

Thanks Rob at Watchdog - Nils Nelson/ME
6/2/2011 4:46:51 PM (2493 views)

I don't get it - Nils Nelson/ME
6/2/2011 4:16:10 PM (3084 views)
Re: I don't get it - William Pattison /CA
6/6/2011 11:20:31 PM (3099 views)

These "vendor firms" are a study in how a domestic market pushes back against off-shoring competition, as well as an interesting experiment in modern digital communcation.

I've encountered many problems with them:

1.  Contradictory terms in their service contracts that nobody seems able to fix (the send them out through low level managers who have no authority to modify or negotiate the contract).

2.  Their fixed pricing is too high to compete with $6 in India, but too low to pay a reasonable rate for what they expect of the abstractor, often not paying for county copy costs and asking for 50-year searches for pennies on the dollar.

3.  Many do not understand the distinction between an independent contractor, an employee and ordering a set report product from another business, including the copyright issues that can come with each of those different classifications.

4.  Some of them have taken the same vendor contract and reused it with the company name changed.   The original had spelling and grammar errors, not to mention poorly written terms that are either unenforcable, outside the bounds of good standards and practices for our industry, or simply unintelligible as to their intent.  Some of the provisions put a burden on the abstractor that is harsh;   no payment without a pile of checks with no counter-checks in place for the abstractor's peace of mind.

5.  These contracts create a lowest common denominator for service.  Added bonus materials that I'll put into any report for a client at no added cost in time or money would be omitted from such vendor packages due to the liability in confusion that we've often run into with their sometimes poorly educated staff.  Too much hassle and headache to deal with this sort of drama.

 

I recommend rejecting these vendor proposals, raising  your rates, pounding the pavement harder and over a wider range of geographic territoriy and product offerings and referring people to other abstractors from SOT when a request falls outside your ability.  It's what we do and we are not bound by weird non-compete, non-disclose terms or nonpaying vendor firms. 

Capitalism is marked by competion, not cooperation.

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Comment on "It Sometimes Pays to Check a Map" - Source of Title/OH
6/2/2011 1:07:35 PM (2825 views)
Importance of correct filings - Jeanine Johnson/MN
6/2/2011 1:07:35 PM (3114 views)
Re: Importance of correct filings - William Pattison /CA
6/6/2011 11:23:17 PM (3148 views)

Accurate Group - Sandra Harold/KS
6/2/2011 9:28:47 AM (4124 views)
Re: Accurate Group - Angela Miller/WI
6/2/2011 9:39:47 AM (4304 views)
Re: Accurate Group - Chris/AK
6/2/2011 2:27:49 PM (3986 views)
Re: Accurate Group - Ron McPherson/IA
6/2/2011 9:51:50 PM (3851 views)
Re: Accurate Group - Dan Zook/NY
6/3/2011 10:45:27 AM (3886 views)
Re: Accurate Group - Garret  Fitzgerald/VA
6/6/2011 4:07:23 PM (3343 views)
Re: Accurate Group - Ron McPherson/IA
6/6/2011 5:32:26 PM (3403 views)
Re: Accurate Group - T/PA
7/18/2011 7:48:24 PM (3487 views)
Re: Accurate Group - Chris Byron/NC
8/3/2011 11:55:21 AM (3513 views)
Re: Accurate Group - K C/NJ
4/15/2013 12:26:12 PM (2305 views)

National Settlement Services & Compliance Summit - CHARLENE  PERRY/MD
6/1/2011 2:54:31 PM (2478 views)

"Renter Nation? - Give Me a Break" - Leigh Attridge/MA
6/1/2011 1:59:41 PM (2982 views)


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