Comments on: Title Insurance: Can we redirect its future?

By: Francine D'Elia Wirsching

Francine D'Elia Wirsching — Tue, 22 Sep 2009 02:32:03 +0000

Ms. Kinney, I appreciate your thoughts and am hopeful that the dialogue will continue. We are surrounded by many professional title agents who are very diligent in their goal of eliminating the risk of the hazard of litigation for the insured. I do believe the number of claims that the industry is experiencing may force the underwriters to clean house which will in turn (you would think) put those with flexible standards and ethics out of business.

By: Francine D'Elia Wirsching

Francine D'Elia Wirsching — Tue, 22 Sep 2009 02:18:22 +0000

Mr. Fortune, thank you for your input. I agree that real estate professionals are key in the point of sale but I also believe that just like a consumer chooses a real estate agent based on expertise and professionalism so one day might the consumer. In Pennsylvania, pricing among competitors should be the same except for the junk fees that some agents charge. But as long as the ABA’s and CBAs are allowed to operate, compliant or not, AND as long as real estate brokers pay their managers for the amount of business their agents refer to the affiliated title agency, the consumer will be misguided and the independent agent (those who DO NOT enter into any financial arrangement with another party) will not be operating on a fair playing field.

By: Dawn Kinney

Dawn Kinney — Fri, 18 Sep 2009 21:22:37 +0000

Great article and so true. I have been in this business for 31 years. Not a day goes by that myself and my colleagues don’t discuss the the “shoddy” title work that is now being done by the major title companies. I work for an underwritten company which is locally owned and operated. We are in an area that has been plagued by foreclosures. When we receive an order that has been previously insured by another company, nine times out of ten the title report will reflect prior liens and encumbrances that were not properly released, but insured over by the previous company. No one seems to care anymore. We spend endless hours cleaning up other companies’ sloppy work because; 1) we take pride in our work and 2) we care about the consumer. We have lost our professionalism. Ms Wirsching, you are absolutely right……………………just close the deal – who cares what the title looks like? This attitude of: the last deed was “full value” and previously insured, therefore it’s okay to ignore anything prior, its absolutely abhoring!!!!
Do you think we will ever go back to doing things the professional way?

By: John Fortune

John Fortune — Thu, 17 Sep 2009 14:10:50 +0000

Very good article and I agree on the concept however I have worked in the industry for over 15 years and when consumers make the choice for title and closing services it’s usually based strictly on price. How could a consumer compare good title work to bad (sloppy)? Very hard to do… real estate professionals must still be the point of sales but we need strong laws against aba’s and cba’s.

By: Francine D'Elia Wirsching

Francine D'Elia Wirsching — Tue, 15 Sep 2009 01:15:23 +0000

Thank you for your comment. In my opinion, ABA’s and CBA’s are vehicles for legalized kick backs, doesn’t make it right or ethical but all the same, the Federal Government and most underwriters have no problem with it. Greed runs rampant in the entire real estate industry. Figure out how we conquer greed and then maybe the pick pocketing will stop.

By: Daniel J. Finello Sr.

Daniel J. Finello Sr. — Mon, 14 Sep 2009 17:35:46 +0000

After 40 years in the business, what I have just read, is music to my ears. However you failed to mention the words “kick backs”