Actually Robert ,I am very interested in this topic and for the most part understand it pretty well.   But as my CPA son says, "I am his hardest, most frustrating conversation when it comes to investing or the nations debt or the problems with the mortgage industry".  I'm a pain in his you know what.  He at 26 & me at 44 just have a different way of looking at many things.  Really it pisses him off, that I won't "drink his koolaid" or go with the norm.   I have my own way of thinking.  I don't believe I'm too far off reality.   Course he was raised by me, so I think he is conflicting on alot of things too that he was taught at college or now at his job.  I am not college educated, but I feel my common sense approach has gotten me where I am today.  And it's not a bad place to be.

In some way (selfish I know), I really don't care about the particulars of why we are where we are, as far as the financial aspects of the consumer or this nation.  I know that if people would live on less than they make, this whole mortgage problem would not have happened quite as bad.  But I know it was too easy for most consumers to pass up using that "equity".  Wanting more than they could afford is human, I suppose.  Then I must not be human.  I don't like risk.   Brokers, Appraisers & the Lenders doing creative financing and the greed really enable the consumer to hurt themselves.

I also know that because alot of consumers over spent, I made a great deal of money.  Horrible that I benefit either way. 

Iowa is a wierd duck I guess, because we don't have title insurance.  So maybe my views or opinions aren't important.

I hate to admit but abstracting is not brain surgery.  But it takes time to learn just like understanding the mortgage industry or investing or for that matter any profession.   You should have seen my college son (now CPA) try to do a title search for me.  He thought it was easy.... he was so pissed that I didn't tell him everything he needed to know in the 15 min. tutorial that he thought he only needed to do the title search.  

As far as value, I believe that Abstractors are very valuable... but depending on the competition (just like any other industry) some abstractors will work for less & it does depend on their volume, overhead & of course their value of themselves.
I have many title companies that continue to pay me top dollar for my searches.  Here in Iowa with mostly only 1 abstract company per county & hardly any independents (like me).  I carry E & O Insurance & some can't/don't.   Believe me, with this "mortgage crisis" & me working mostly with title companies that work with subprime lenders, it scares me & I wonder when I will have to get another JOB.

Sorry, I got off topic.
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