I am not defending Nationwide's recent actions in any way, but I want to try and clarify some points. The decision to cut vendor fees 3% came from the very top level of the company. The employees of the company were actually told that if they did not get the vendors to agree to this that there would be more lay offs. Whether this is due to the lose of a big client or the deep pockets of the ones that control the bank accounts, I don't know. The attitude that is now being shown toward the abstractors that refuse to comply is ridiculous. It is unprofessional and those people should find another line of work. I have stated my position on this in other threads. If I don't have the abstractors to provide the COMPLETE and THOROUGH search that I need, and I can't protect them, I don't have a job. If I wanted a $15 search, I would get a $15 search, then I had better update my resume because when all of the missed documents are found and the claims start coming in, I won't have a company to work for.
Unfortunately, Wanda was correct in the way that most people are trained at the VMC's. That is the way that I was trained. Then I actually learned the art of abstracting and it completely changed the way that I talked and interacted with the abstractors on a daily basis.
Unfortunately, the frenzied pace that the VMC's now find themselves working in, is usually the direct result of the sales and marketing that is done. The people that are hired to bring in the clients, are not Title people....they are sales people. "How much $ can I make in one month" is all they think about. None of the process is EVER considered. The people at the VMC's that you all deal with everyday are probably the ones that are fighting people within their own company because they know what needs to be done and they are not in the position to make it happen.
Again, I want to make it clear that I DO NOT condone what NASCO has begun doing. If you really want to let them know how you feel, the next time you get an email from someone there, at the bottom of the email there is a link for a "customer service survey" for client and vendors. Maybe if enough people tell them exactly what is being said on the phone and in the emails, and how unhappy you are, something may get done. probably not....but still worth a shot.
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