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[+] Spanish Woman Claims She Now Owns Sun - Edouard LeLocle/SC (8 replies)
11/27/2010 8:15:17 PM (3557 views)

[+] So much to say, so little time - CHARLENE  PERRY/MD (5 replies)
11/24/2010 12:22:55 PM (3314 views)

[+] Lumar Document Retrieval - Deborah Manion/VA (1 reply)
11/23/2010 2:21:52 PM (3925 views)

[+] How far to go in explaining an order - Alix Ott/MI (10 replies)
11/22/2010 3:07:28 PM (3588 views)

[+] Abstractors A Go Go - Deborah Manion/VA (38 replies)
11/22/2010 2:29:54 PM (4688 views)




[+] Questions on copies - Dan Zook/NY (9 replies)
11/19/2010 4:34:55 PM (3546 views)

New FNMA Guidelines - Leigh Attridge/MA
11/19/2010 8:36:53 AM (4423 views)

Fiber optic outage... - Robert Franco/OH
11/18/2010 9:49:10 AM (3042 views)

[-] Non-Judicial Foreclosure Misposts - William Pattison /CA (6 replies)
11/16/2010 1:07:25 AM (3419 views)
Re: Non-Judicial Foreclosure Misposts - Slade Smith/OH
11/16/2010 1:33:26 PM (3635 views)
Re: Non-Judicial Foreclosure Misposts - William Pattison /CA
11/16/2010 3:38:55 PM (3629 views)
Re: Non-Judicial Foreclosure Misposts - Slade Smith/OH
11/16/2010 4:57:03 PM (3741 views)
Re: Non-Judicial Foreclosure Misposts - William Pattison /CA
11/17/2010 10:02:42 AM (3607 views)
Re: Non-Judicial Foreclosure Misposts - Slade Smith/OH
11/17/2010 11:46:35 AM (3693 views)
Re: Non-Judicial Foreclosure Misposts - William Pattison /CA
11/17/2010 2:37:01 PM (3706 views)

Your comparison is a bit of apples to oranges, but going with that analogy, research firms have miscellaneous professional liability insurance and claims are indeed made against them when missed records occur.  Sometimes it is not the lack of due diligence on the part of the abstractor, but a failure in the public records themselves.  Sometimes there is a reasonable expectation that a record should have been  located and it falls to their insurance to make matters right.

This then begs the question as to whether the foreclosure companies are insured to the same levels and being held to account on the same basis.  I'll admit that I'm unaware of such claims.  Furthermore, the scale of loss between an abstractor missing a mechanics lien versus a foreclosure mill kicking a family out of their home, is massively different in every dimension. 

I know that it is not unheard of that a title search claim can be very high, or that such failures can materially contribute to property loss, but this seems far less  frequent or likely than a foreclosure mill specializing in taking property.

I would also  note the important (qualitative) difference between researching public records as an abstractor in order to produce a report and recording matters of public notice on those records.  Clearly the onus is on the party submitting papers for recording to state things accurately and correctly and not to do so in a manner that creates a liability or encumbrance on wrong parties, wrong properties, or in erroneous ways.

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[+] NREIS - Richard Primmer/RI (1 reply)
11/15/2010 6:26:25 PM (3608 views)

[+] Taking Care of our Abstractors... - Jaime  Kosofsky/NC (1 reply)
11/13/2010 9:27:24 PM (3539 views)

Foreclosure fun in the Bay State - Deborah Manion/VA
11/12/2010 10:35:30 AM (4459 views)

[+] fee - iveta todora/VA (4 replies)
11/12/2010 10:26:58 AM (3507 views)

[+] Lenders Allies - Cherie Smurthwaite/CA (2 replies)
11/11/2010 7:53:46 PM (6079 views)

[+] DataChek - Kurt deVries/FL (5 replies)
11/10/2010 2:00:00 PM (3645 views)


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