Over the last ten years, the Real Estate, Lending, and Title Industries have seen many changing practices thanks in large part to fraudulent activities, changes in the economy, and other varying issues. Many of the changes that have been put in place are purportedly aimed at protecting the consumer. You may have noticed large changes in lending qualifications and regulations which have made it more difficult for borrowers to obtain loans or changes in the appraisal practices causing many borrowers and loan officers alike much grief as properties don’t appraise where they “should.” Now, there is the issue looming of “third party vetters” which will “conduct due diligence investigation” into individual settlement companies. These third party “vetting” companies will charge a fee to settlement companies, like Continental Title Company, to investigate their practices, rate them, and then report their findings to lenders.
Click HERE to check out an interesting and informative article written by Harvey S Jacobs on www.washingtonpost.com about one of the changes title companies could soon be facing! We would love to know what you think! E-mail your thoughts to info@ctitle.com!