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Requiring Full E&R for Last Owner Searches - Bruce Lutz/PA
10/4/2021 1:57:10 PM (2808 views)
Re: Requiring Full E&R for Last Owner Searches - Smitty Strickland/SC
10/4/2021 3:01:40 PM (3374 views)
Re: Requiring Full E&R for Last Owner Searches - Robert Franco/OH
10/4/2021 4:58:59 PM (3559 views)
Re: Requiring Full E&R for Last Owner Searches - Kurt deVries/FL
10/5/2021 11:45:19 AM (3343 views)
Re: Requiring Full E&R for Last Owner Searches - Smitty Strickland/SC
10/8/2021 10:54:18 AM (3232 views)
Re: Requiring Full E&R for Last Owner Searches - Bruce Lutz/PA
10/11/2021 9:47:30 AM (3142 views)
Re: Requiring Full E&R for Last Owner Searches - Leigh Attridge/MA
10/10/2021 9:14:44 AM (3153 views)
Re: Requiring Full E&R for Last Owner Searches - Alix Ott/MI
10/11/2021 8:32:16 AM (3113 views)
Re: Requiring Full E&R for Last Owner Searches - Robert Franco/OH
10/11/2021 10:29:29 AM (3285 views)
Re: Requiring Full E&R for Last Owner Searches - Alix Ott/MI
10/11/2021 11:17:30 AM (2970 views)
Re: Requiring Full E&R for Last Owner Searches - Robert Franco/OH
10/11/2021 11:49:04 AM (3061 views)
Re: Requiring Full E&R for Last Owner Searches - Garret  Fitzgerald/VA
10/11/2021 8:47:25 AM (2969 views)
Re: Requiring Full E&R for Last Owner Searches - Rene Blevins/VA
11/9/2021 8:56:21 AM (2952 views)
Re: Requiring Full E&R for Last Owner Searches - WAYNE QUICK/NC
10/11/2021 9:07:19 AM (3065 views)
Re: Requiring Full E&R for Last Owner Searches - Shannon Budziak/VT
10/11/2021 10:06:02 AM (2970 views)
Re: Requiring Full E&R for Last Owner Searches - Smitty Strickland/SC
10/17/2021 12:15:52 PM (2934 views)
Re: Requiring Full E&R for Last Owner Searches - SUZANNE WALLACE/CA
11/8/2021 11:18:42 PM (2578 views)
Re: Requiring Full E&R for Last Owner Searches - Jeanine Johnson/MN
10/11/2021 10:44:54 AM (2911 views)
Re: Requiring Full E&R for Last Owner Searches - Philip Apter/CT
10/11/2021 7:11:59 PM (2987 views)
Re: Requiring Full E&R for Last Owner Searches - SUZANNE WALLACE/CA
11/8/2021 11:20:10 PM (2501 views)
Re: Requiring Full E&R for Last Owner Searches - Paula Reynolds/FL
10/18/2021 11:46:34 AM (2899 views)
Re: Requiring Full E&R for Last Owner Searches - Larry Crooks/OH
10/19/2021 8:41:55 AM (2993 views)

Here is what is happening in the search/underwriting world (and has been for 20 years or more depending on what state you are in).

 

Data shows that an underwriter can require the follow scope of search on an Owner Policy:

1. Search from all liens and encumbrances from the last owner forward (WDD/PMM)

Extra cautious underwriters might say last TWO Owners forward.

During this search period the underwriter is looking for all items that need to be paid and released and closing (mortgages, liens, etc).

When an underwriter has evidence of an insured transaction the risk of claims for a missed lien or mortgage goes WAY down. So the time spend searching the owners before that does not bear fruit. It's simply a waste of the abstractors time.

In addition to the liens and mortgages, underwriters want to show easements, restrictions, HOA, Decs, etc on the title commitment. This is where you may have some disagreement on how far back these B2 items need to be searched for. 

One school of thought says, if the plat was recorded longer ago than the statutory search period (or customary) in that state then the abstractor does not need to conduct a further search because basically everything that affects the property in the last 42 years (Ohio Example) has been found in the last owner or last two owner search.

Others might say, we really want these B2's no matter how old they are, but as we all know that would take us back to 1900 in many places looking for things like joint driveway easements in OLD allotments, etc.  

As we all now, once you search a subdivision one time, you can save the B2s in your files and pull them out when that subdivision comes up again and slap them on the file for the customer. This is typically termed pull the plat card or pulling the subdivision base file. 

 If you do it right you will charge the customer for the 1 or 2 owner search (whichever they require) and then charge them something for the B2's. By saving and repeating the B2's you will be able to turn orders faster and charge many times for the work you did one time.

There will be LOTS of times (if the underwriter doesn't require any B2's behind the statutory/customer period where you are simply doing a 1 or 2 owner search (for a purchase) just like you would for a loan policy (refinance). And if that's the case, that's all the customer should be charged for IMO. 

 Clearly it's unreasonable for a client to think you are going to get B2's for the same price as a 1 or 2 owner search. I think most of your clients will understand that if you explain it to them.  

 While I'm employed by an underwriter, I am not speaking on behalf of the company here.

 

 

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Re: Requiring Full E&R for Last Owner Searches - SUZANNE WALLACE/CA
11/8/2021 11:22:20 PM (2672 views)
Re: Requiring Full E&R for Last Owner Searches - Larry Crooks/OH
11/9/2021 8:56:05 AM (2810 views)
Re: Requiring Full E&R for Last Owner Searches - SUZANNE WALLACE/CA
11/8/2021 11:17:34 PM (2544 views)
Re: Requiring Full E&R for Last Owner Searches - Serena Stout/VA
11/15/2021 8:40:20 AM (2584 views)
Full search = full search price - Victoria Moate/NJ
11/16/2021 10:13:56 PM (2819 views)
Re: Full search = full search price - Larry Crooks/OH
11/22/2021 9:28:26 AM (2732 views)
Re: Full search = full search price - Victoria Moate/NJ
11/22/2021 1:15:33 PM (2722 views)
Re: Full search = full search price - Larry Crooks/OH
11/22/2021 1:28:28 PM (2677 views)
Re: Full search = full search price - Victoria Moate/NJ
11/22/2021 4:07:42 PM (2702 views)
Re: Full search = full search price - Larry Crooks/OH
11/22/2021 4:56:25 PM (3707 views)
Re: Full search = full search price - Victoria Moate/NJ
11/22/2021 5:25:11 PM (2723 views)
Re: Full search = full search price - Larry Crooks/OH
11/23/2021 10:24:45 AM (2729 views)
Re: Full search = full search price - Victoria Moate/NJ
11/23/2021 10:53:54 AM (2573 views)
Re: Full search = full search price - Larry Crooks/OH
11/23/2021 12:21:17 PM (2580 views)
Re: Full search = full search price - Victoria Moate/NJ
11/23/2021 3:47:04 PM (2644 views)
Re: Full search = full search price - Larry Crooks/OH
11/23/2021 4:06:42 PM (2580 views)
Re: Full search = full search price - Victoria Moate/NJ
11/23/2021 4:11:22 PM (2618 views)
Re: Full search = full search price - Larry Crooks/OH
11/23/2021 4:20:36 PM (2640 views)

Priority Title & Escrow, LLC - Smitty Strickland/SC
10/2/2021 5:26:51 PM (2154 views)

Free Metes and Bounds online sofware - Heidi Gemeling/FL
9/29/2021 7:54:29 PM (2436 views)
Re: Free Metes and Bounds online sofware - Robert Franco/OH
9/30/2021 10:26:51 AM (3277 views)
Re: Free Metes and Bounds online sofware - Heidi Gemeling/FL
9/30/2021 10:51:13 AM (3244 views)
Re: Free Metes and Bounds online sofware - Anita Backlund/MN
10/3/2021 10:20:46 AM (3242 views)
Re: Free Metes and Bounds online sofware - Heidi Gemeling/FL
10/3/2021 6:16:55 PM (3184 views)
Re: Free Metes and Bounds online sofware - Anita Backlund/MN
10/4/2021 8:45:40 AM (3186 views)
Re: Free Metes and Bounds online sofware - Heidi Gemeling/FL
10/4/2021 8:55:22 AM (3304 views)
Re: Free Metes and Bounds online sofware - REBECCA RIZZONELLI/PA
10/4/2021 9:20:20 AM (3098 views)
Re: Free Metes and Bounds online sofware - Anita Backlund/MN
10/4/2021 3:40:33 PM (3181 views)
Re: Free Metes and Bounds online sofware - Lou Ann Steele/TN
10/8/2021 12:23:36 PM (3135 views)
Re: Free Metes and Bounds online sofware - Jeanine Johnson/MN
10/4/2021 9:39:41 AM (3114 views)
Re: Free Metes and Bounds online sofware - Lou Ann Steele/TN
10/8/2021 3:19:16 PM (3016 views)
Re: Free Metes and Bounds online sofware - Victoria  Wertz/GA
10/11/2021 10:09:21 AM (2942 views)
Are you trying to be a surveyor? - Victoria Moate/NJ
11/16/2021 10:04:43 PM (2789 views)
Are you trying to be a surveyor? - Victoria Moate/NJ
11/16/2021 10:05:28 PM (2772 views)

Los Angeles County - October 1st - Dan Zook/NY
9/28/2021 7:52:23 PM (1954 views)

Low Volume - Jason Roy/DE
9/27/2021 11:46:50 AM (2576 views)
Re: Low Volume - William Duncan/SC
9/27/2021 12:39:18 PM (3654 views)
Re: Low Volume - Jason Roy/DE
9/27/2021 2:42:12 PM (3301 views)
Re: Low Volume - Heidi Gemeling/FL
9/28/2021 6:27:30 AM (3515 views)
Re: Low Volume - Ana Rosen/PA
10/4/2021 9:58:24 AM (3290 views)
Re: Low Volume - Kristie Rich/AZ
10/12/2021 12:03:04 PM (3009 views)
Re: Low Volume - Rita Killary/NY
10/12/2021 2:19:43 PM (3139 views)
Re: Low Volume - Kristie Rich/AZ
10/12/2021 2:24:44 PM (3061 views)
Re: Low Volume - Rita Killary/NY
10/12/2021 2:29:45 PM (3118 views)


Real Title Services


Union, NC - Ana Rosen/PA
9/16/2021 2:55:31 PM (2047 views)
Re: Union, NC - Richard  Gibbons/SC
9/20/2021 9:09:01 AM (3028 views)
Re: Union, NC - Ana Rosen/PA
9/20/2021 9:25:49 AM (3063 views)
Re: Union, NC - Richard  Gibbons/SC
9/20/2021 3:40:38 PM (2958 views)

ALTERNATIVE FAX NUMBER - Heidi Gemeling/FL
9/13/2021 5:07:42 PM (1890 views)
Re: ALTERNATIVE FAX NUMBER - Brandon ONeal/TN
9/13/2021 6:24:24 PM (3044 views)
Re: ALTERNATIVE FAX NUMBER - Craig Honeker/AZ
9/16/2021 5:31:32 PM (3052 views)
Re: ALTERNATIVE FAX NUMBER - Marilyn Knobel/NY
9/20/2021 9:02:36 AM (2917 views)
Re: ALTERNATIVE FAX NUMBER - Alix Ott/MI
9/28/2021 9:27:55 AM (2831 views)

NobleServe,LLC - Smitty Strickland/SC
9/13/2021 5:00:51 PM (2618 views)
Re: NobleServe,LLC - Randi Erickson/MN
9/15/2021 3:23:17 PM (3484 views)
Re: NobleServe,LLC - Marilyn Knobel/NY
9/20/2021 9:03:24 AM (3127 views)

ACH, Bill.com, Venmo, Paypal etc. - Dan Zook/NY
9/9/2021 12:48:14 PM (2331 views)
Re: ACH, Bill.com, Venmo, Paypal etc. - William Duncan/SC
9/10/2021 11:40:16 AM (3234 views)
Re: ACH, Bill.com, Venmo, Paypal etc. - Dan Zook/NY
9/10/2021 5:41:55 PM (3085 views)
Re: ACH, Bill.com, Venmo, Paypal etc. - Jolene Crofoot/MN
9/13/2021 12:16:25 PM (2959 views)
Re: ACH, Bill.com, Venmo, Paypal etc. - Erich Wiedel/MD
9/20/2021 9:01:49 AM (2938 views)
Re: ACH, Bill.com, Venmo, Paypal etc. - Alix Ott/MI
9/28/2021 9:24:07 AM (2857 views)
Re: ACH, Bill.com, Venmo, Paypal etc. - Dan Zook/NY
9/28/2021 6:58:28 PM (8290 views)

CRYPTOCURRENCY AND ESCROW ACCOUNTS - Heidi Gemeling/FL
9/8/2021 8:01:04 AM (2078 views)
Re: CRYPTOCURRENCY AND ESCROW ACCOUNTS - James Powell/MI
9/9/2021 12:04:26 PM (3221 views)
Re: CRYPTOCURRENCY AND ESCROW ACCOUNTS - Ed Frederick/IN
9/9/2021 2:36:13 PM (3218 views)
Re: CRYPTOCURRENCY AND ESCROW ACCOUNTS - Jeanine Johnson/MN
9/13/2021 9:50:23 AM (3058 views)
Re: CRYPTOCURRENCY AND ESCROW ACCOUNTS - Jeanine Johnson/MN
9/13/2021 9:06:03 AM (2902 views)
Re: CRYPTOCURRENCY AND ESCROW ACCOUNTS - Heidi Gemeling/FL
9/13/2021 10:19:05 AM (3094 views)
Re: CRYPTOCURRENCY AND ESCROW ACCOUNTS - Robert Franco/OH
9/14/2021 11:50:34 AM (3024 views)
Re: CRYPTOCURRENCY AND ESCROW ACCOUNTS - Garret  Fitzgerald/VA
10/11/2021 8:49:34 AM (2502 views)
Re: CRYPTOCURRENCY AND ESCROW ACCOUNTS - george Hubka/MI
10/25/2021 11:15:37 PM (2686 views)
Re: CRYPTOCURRENCY AND ESCROW ACCOUNTS - Garret  Fitzgerald/VA
10/26/2021 5:40:01 AM (2532 views)
Re: CRYPTOCURRENCY AND ESCROW ACCOUNTS - george Hubka/MI
12/19/2021 9:29:11 PM (2664 views)

Vermont appointments and fees - Ana Rosen/PA
9/7/2021 5:35:19 PM (1885 views)
Re: Vermont appointments and fees - Rita Killary/NY
9/7/2021 7:05:50 PM (2926 views)
Re: Vermont appointments and fees - Ana Rosen/PA
9/8/2021 8:37:42 AM (2990 views)
Re: Vermont appointments and fees - Christopher Wigg/CA
9/10/2021 2:13:12 PM (2975 views)

JMT Doucment Services - Carlyle Millard/WV
9/1/2021 9:36:18 PM (1729 views)

Turning Houses into Corporations - Robert Franco/OH
8/26/2021 8:35:17 AM (2454 views)
Re: Turning Houses into Corporations - Jay Duncan/MO
8/26/2021 9:15:55 AM (3067 views)
Re: Turning Houses into Corporations - Melinda Barcum, J.D./AL
9/10/2021 8:54:22 AM (2916 views)
Re: Turning Houses into Corporations - Alix Ott/MI
9/13/2021 9:59:53 AM (2857 views)
Re: Turning Houses into Corporations - Alix Ott/MI
9/13/2021 10:21:55 AM (2889 views)
Re: Turning Houses into Corporations - Robert Franco/OH
9/13/2021 11:36:07 AM (2789 views)
You can't "turn a house" into an LLC - Victoria Moate/NJ
11/1/2021 5:57:39 PM (2489 views)
You can't "turn a house" into an LLC - Victoria Moate/NJ
11/1/2021 6:04:38 PM (2586 views)

Sanrit Technologies Non-Payer - Ron Beavers/FL
8/17/2021 2:04:25 PM (2176 views)
Re: Sanrit Technologies Non-Payer - James Powell/MI
8/17/2021 2:29:59 PM (3581 views)
Re: Sanrit Technologies Non-Payer - William Duncan/SC
8/19/2021 1:45:30 PM (3037 views)
Re: Sanrit Technologies Non-Payer - george Hubka/MI
8/23/2021 10:12:25 PM (3012 views)
Re: Sanrit Technologies Non-Payer - Joni Bargel/MN
8/23/2021 12:25:11 PM (3067 views)

Nationwide Abstrax - R Braun/VA
8/12/2021 10:15:39 AM (2772 views)
Re: Nationwide Abstrax - Jay Duncan/MO
8/16/2021 1:12:41 PM (3189 views)
Re: Nationwide Abstrax - Lisa Vazquez/VA
8/16/2021 1:23:05 PM (3169 views)


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