The funds in question or rather the "unpaid" invoices in question are on searches for loans that will never close. The abstractor and notary are listed on the HUD at closing and paid directly by the title company or the attorney upon funding. If a loan doesn't close then there isn't a HUD to pay the abstractor from.

Again, the invoices in question are on titles that were ordered by brokers and lenders that ordered title work so they could close the loan, then these brokers/lenders closed their doors with no warning. The title company is then the one who is left with the abstract bill and nobody to go back on. This happens to a lot of title companies and can be disastrous to a small company.

We are doing our best to get everyone paid on these, but since these aren't closing we won't collect anything from broker/lender and have to pay the abstractors from operating account. As stated to previous questions on payment, we are doing our best to get abstractors paid for work completed and will continue to do so. It is a slower process with the industry being as slow as it is right now.