Kim...
...fortunately, this was not our company - I am not endorsed by a large company and spoon fed to banks to use as an independent. This company services over 200 counties in Missouri and Illinois; and I still am not sure if they are what I would truly call an Independent Abstractor or in truth, a Vendor Manager. Nevertheless, I am VERY familiar with the County the errors occurred in - and the simple fact is, you have to know the County to know how to run a title there. Obviously, the abstractor was unfamiliar with all the idiosyncrasies of that particular county. No corrections were made - nothing outstanding performed by the abstractor. Other than the fact that the abstractor was trained by us - and that is how I became aware of the situation. That, and the fact that this abstractor has been searching for about 5+ years. My abstractor is now the Production Manager of this particular institution. But the bridge is burned. No more independents. And that is what annoys and frightens me. If a Lending facility has a Vendor Management Team - they are direct contacts with the Independents. When and if one starts to perform less than expected - they can turn to another independent with more experience. If a Vendor Management Service is going to operate - then they damn well better know their abstractors and know their abstractors experience and talents. Otherwise, they will screw the rest of us out of future opportunities.
IMHO...
Ellen
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