Hi all, very good points from everyone. I certainly too, believe American jobs should stay American filled. Unfortunately, the Federal Government does not sanction the local and county governments who utilize these foreign companies; to select only American based companies to house their data. Whatever is cheapest and is somewhat scalable is best in their mind. We being in the industry, know that searches are best only when performed by a highly qualified individual who actually physically search public records indexes. There is no other way. I never would compromise my business by using a foreign company such as these. Not only does it put me at risk, but issuing an owner's policy with shady information could cause the borrowers defects in their title causing it to be unmarketable.
My suggestion is when receiving a call from these companies, grill them on the generalities of the industry and title insurance as a whole. What is it all about? How do losses occur? What states need an attorney opinion, etc. My guess is they will not be able to provide indepth answers to any questions you ask but rather will shy away from those questions and answer only what they can and can't do for your company. They personally did to me.
Thanks for reading!
Jason
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