Very well stated Robert. We ask that our abstracters have E&O for that very reason. Being in the industry as long as both Wanda & I have been, you are quick to learn that IF a missed document results in a loss for the client, the first call they make is to us. The first call we make is the our abstracter. Hopefully, everyone is lucky enough not to ever have a loss, however like Jay and others have stated, it only take the one...If "Murphy's Law" comes into play, it will be a $300,000 mortgage sitting out there open of record..............You never know. Traditionally, the next business to become extremely profitable following a Refi boom is.............you guessed it.........Foreclosures..Just a thought.
Mary
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