Alix: I seem to remember something posted on this site about Bank of America suing First American, maybe &/or Fiserv because FA would no longer pay claims on Fiserv's "Quick Close" program. That was the program that closed equity lines without bothering to do a title search at all. I just had one of those properties handed to me a few months ago as a foreclosure rundown and guess what - the person signing the mortgage didn't own the property in question, or even any other properties (at least under that name) in any of the counties I cover - so go figure. Wonder how that foreclosure will shake out. I do remember though getting a phone call from a local attorney telling me that he & I would no longer be doing equity lines for a large local bank. The bank had been solicited by a vendor who would do the work without title certification for about half of what we were charging. I think my fee at the time for an equity was $25 (it was a very very long time ago); & I couldn't for the life of me figure out who they could get to do the work for $12. When I mentioned that to the attorney he laughed & said that claims filed were just numbers to the bean counters. How many claims do you need to file before a company goes out of business????
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