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[+] Abstractors A Go Go - Deborah Manion/VA (38 replies)
11/22/2010 2:29:54 PM (4738 views)

[+] Questions on copies - Dan Zook/NY (9 replies)
11/19/2010 4:34:55 PM (3601 views)

New FNMA Guidelines - Leigh Attridge/MA
11/19/2010 8:36:53 AM (4478 views)

Fiber optic outage... - Robert Franco/OH
11/18/2010 9:49:10 AM (3088 views)

[-] Non-Judicial Foreclosure Misposts - William Pattison /CA (6 replies)
11/16/2010 1:07:25 AM (3465 views)
Re: Non-Judicial Foreclosure Misposts - Slade Smith/OH
11/16/2010 1:33:26 PM (3865 views)
Re: Non-Judicial Foreclosure Misposts - William Pattison /CA
11/16/2010 3:38:55 PM (3825 views)
Re: Non-Judicial Foreclosure Misposts - Slade Smith/OH
11/16/2010 4:57:03 PM (3946 views)
Re: Non-Judicial Foreclosure Misposts - William Pattison /CA
11/17/2010 10:02:42 AM (3832 views)
Re: Non-Judicial Foreclosure Misposts - Slade Smith/OH
11/17/2010 11:46:35 AM (3908 views)
Re: Non-Judicial Foreclosure Misposts - William Pattison /CA
11/17/2010 2:37:01 PM (3933 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 (3657 views)

[+] Taking Care of our Abstractors... - Jaime  Kosofsky/NC (1 reply)
11/13/2010 9:27:24 PM (3596 views)

Foreclosure fun in the Bay State - Deborah Manion/VA
11/12/2010 10:35:30 AM (4514 views)

[+] fee - iveta todora/VA (4 replies)
11/12/2010 10:26:58 AM (3556 views)

[+] Lenders Allies - Cherie Smurthwaite/CA (2 replies)
11/11/2010 7:53:46 PM (6130 views)

[+] DataChek - Kurt deVries/FL (5 replies)
11/10/2010 2:00:00 PM (3706 views)

[+] New HUD-1 title fees accounting - STEVE MEINECKE/TN (11 replies)
11/10/2010 11:39:26 AM (3530 views)

[+] A change is coming... - Robert Franco/OH (9 replies)
11/10/2010 11:26:20 AM (3873 views)

[+] alvey - melissa smith/VA (7 replies)
11/10/2010 8:38:13 AM (3728 views)

[+] Foreclosure Action Dismissed - FJ Vacated AFTER CT Issued - PAULA DEEM  REYNOLDS/FL (9 replies)
11/9/2010 2:20:36 PM (4116 views)


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