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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] I'm not much of a link-meister... Posted by Rick, the Probate Guy on June 27, 2009 at 7:45 AM In Reply to: Show me a link where any Title company has been fined for giving access to data? posted by JK (the other JK) on June 25, 2009 at 3:58 PM Larry, my ORTC title rep stopped by yesterday and I brought up this topic again. He gave me the blow-by-blow about how the two title companies that are the primary fee-based data providers lobbied State legislators to eliminate the propensity of free services that title insurance companies were offering (or compelled to provide to) their clients. I have not read the legislation, so I'm basing on hearsay, however my rep believes that there's much gray area as to the services that can be provided. One interpretation would be that title company customer service does not provide any copies of conveyance of security deeds (GD's, QCD's, TD's) which sounds ridiculous. But if true, those companies would direct their customers to fee-based data services that their subsidiary companies offer (First AM, Fidelity, et al). About an hour later, I had lunch with another buddy who owns one of the largest foreclosure companies as well interests in other related industry vendors, and he said the same thing about the title company practices. I'd conclude the the industry is trying to force users into paying for the very services that they once provided for free, and at a much higher premium. Only time will tell what the real limits to the free services can be as companies are cited and case law developed. In the meantime, I would expect that freebee services will continue to be reduced or eliminated by many, if not all, of the title companies which will essentially create a higher barrier to entry for the little guy or gal who wants to dabble in real estate investments. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Larry, my ORTC title rep stopped by yesterday and I brought up this topic again. He gave me the blow-by-blow about how the two title companies that are the primary fee-based data providers lobbied State legislators to eliminate the propensity of free services that title insurance companies were offering (or compelled to provide to) their clients. : I have not read the legislation, so I'm basing on hearsay, however my rep believes that there's much gray area as to the services that can be provided. One interpretation would be that title company customer service does not provide any copies of conveyance of security deeds (GD's, QCD's, TD's) which sounds ridiculous. But if true, those companies would direct their customers to fee-based data services that their subsidiary companies offer (First AM, Fidelity, et al). : About an hour later, I had lunch with another buddy who owns one of the largest foreclosure companies as well interests in other related industry vendors, and he said the same thing about the title company practices. : I'd conclude the the industry is trying to force users into paying for the very services that they once provided for free, and at a much higher premium. : Only time will tell what the real limits to the free services can be as companies are cited and case law developed. In the meantime, I would expect that freebee services will continue to be reduced or eliminated by many, if not all, of the title companies which will essentially create a higher barrier to entry for the little guy or gal who wants to dabble in real estate investments. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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