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[+] RealDetailed - heard of them? - Pat Strasburg/MI (5 replies)
12/2/2010 12:16:21 PM (3627 views)

[+] It all comes back to understanding - George Booth/OH (3 replies)
12/2/2010 9:40:31 AM (3278 views)

[+] How strong is the chain? - michael rafferty/VA (1 reply)
12/1/2010 8:39:11 PM (3545 views)

[+] Coefficiency, LLC - Ron McPherson/IA (2 replies)
11/30/2010 3:51:25 PM (4097 views)

[+] WARNING: 21st CENTURY NATIONAL ABSTRACTION CO./DEANA MOORE IS A NON-PAYER - Eric Woelfel/MN (3 replies)
11/30/2010 1:48:44 PM (5101 views)




BEWARE OF M&M NATIONAL ABSTRACTING & DEBI MILLER - Eric Woelfel/MN
11/30/2010 9:39:18 AM (4482 views)

[+] Spanish Woman Claims She Now Owns Sun - Edouard LeLocle/SC (8 replies)
11/27/2010 8:15:17 PM (3587 views)

[+] So much to say, so little time - CHARLENE  PERRY/MD (5 replies)
11/24/2010 12:22:55 PM (3339 views)

[+] Lumar Document Retrieval - Deborah Manion/VA (1 reply)
11/23/2010 2:21:52 PM (3968 views)

[+] How far to go in explaining an order - Alix Ott/MI (10 replies)
11/22/2010 3:07:28 PM (3612 views)

[+] Abstractors A Go Go - Deborah Manion/VA (38 replies)
11/22/2010 2:29:54 PM (4715 views)

[+] Questions on copies - Dan Zook/NY (9 replies)
11/19/2010 4:34:55 PM (3573 views)

New FNMA Guidelines - Leigh Attridge/MA
11/19/2010 8:36:53 AM (4449 views)

Fiber optic outage... - Robert Franco/OH
11/18/2010 9:49:10 AM (3062 views)

[-] Non-Judicial Foreclosure Misposts - William Pattison /CA (6 replies)
11/16/2010 1:07:25 AM (3441 views)
Re: Non-Judicial Foreclosure Misposts - Slade Smith/OH
11/16/2010 1:33:26 PM (3721 views)
Re: Non-Judicial Foreclosure Misposts - William Pattison /CA
11/16/2010 3:38:55 PM (3705 views)
Re: Non-Judicial Foreclosure Misposts - Slade Smith/OH
11/16/2010 4:57:03 PM (3822 views)
Re: Non-Judicial Foreclosure Misposts - William Pattison /CA
11/17/2010 10:02:42 AM (3691 views)
Re: Non-Judicial Foreclosure Misposts - Slade Smith/OH
11/17/2010 11:46:35 AM (3782 views)
Re: Non-Judicial Foreclosure Misposts - William Pattison /CA
11/17/2010 2:37:01 PM (3805 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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