I talked to a guy at Fiserv a few weeks back. Supposedly that is where all the Greenlink/Wachovia work went (got that info from a friend who works at GL). When I called him, he said most of their work is done "in house" with a "streamlined program" (Geez, some of the same wording on the goodbye letter from GL!). Anyway, from what I could gather from him, they are NOT ordering current owner searches in any kind of large volume, even if the county is not "online".
Sounded more like they are doing "vesting searches" for the clients. They verify you own the property (whether by online assessment access or other means, and have the deed info in their database from purchasing information directly from the counties---and I know for a fact that the county I work has sold their images to private firms!) No searching of mortgages and judgments, verify the owner, credit search, and give thema loan. Close the loan ASAP because the bank has them on the hook--like a used car salesman. Do not ask me how this is smart lending, can work in the long run, etc...
I just know that is what some companies are doing at this point.
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