Our firm de-emphasized abstracting last year , and re-focused on closings. It was the best decision we could have made. Profits are up significantly since cutting the slow pay/no pay abstracting clients loose. The sub prime implosion has undoubtedly impacted on the real estate industry as a whole, but I think the larger threat to abstractors comes from outsourcing and ignorant VM's seeking searches on a cheap basis.

The signing agents although feeling the impact of the sub prime problem do not seem to be in the same boat as the abstractors. The sub prime credit crises appears to be a temporary problem that will be cured with time. Not so with outsourcing for abstractors.

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