Actually ValuAmerica is not an off shoot of ATM. Although they operate similarly. ValuAmerica was started by some of the ORIGINAL people from the ORIGINAL Lenders Service Inc. Unless you have been in the business 20 years or more , you would not remember them. When Bob Murphy sold Lenders Service to Prudential, some of the people that worked there left and started ATM.
Chesapeake (now Finiti), Home Connects, Seco Link, Timberlink, etc. are products of joint ventures between the various Lending institutions City Corp, GMAC, Key Bank etc AND ATM. ATM set up the VM portion so that they could have their own title company. ATM set up the system to have searchers type in their reports. They trained the personel, gave them abstractor lists, etc.
In my opinion, this is why abstractors seem to deal with the same types of problems with different VM companies. They were all trained under the same ideology. "Get it done Cheap & Fast & Sell it for much More" "If the abstractor or office person doesn't want to cooperate --find someone else---there is always someone who will do it OUR WAY. They need the money!!!"
Guess What ?? They were and are Correct. Will abstractors EVER come together, realize their importance, and stop allowing clients to treat them like them as they do. Two years ago, I thought that we were on our way to doing just that, with NALTEA. Now, I am not so sure. At this point I think that "Abstractor Apathy" is the enemy, not the Clients!! I know that there are abstractors out there that don't seem to be having any problems. They are making a good living and don't see any reason to band together with their "competition".
I have been in this business for 36 years & I remember a time when I thought that if you knew how to abstract, you would always have a job & could make a good living. Those days are over---maybe not in your area, yet. But it is coming. We all need to wake up & realize it can & will happen to all of us, if we sit back & watch it happen.
Sorry, I started out just trying to clarify a couple things. & I ended up on my Soap Box. I have loved this business & I can be very passionate about it at times. Thanks for listening.
Wanda Steudel
AccuSearch Co
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