Title Plant Outsourcing – Outsourcing Locates Research

A modern title plant is a computerized index to the documents recorded in the county recorder’s office, as well as the scanned images of the documents themselves.  Title searchers and examiners query the title plant for documents related to specific property by legal description, or by an individual’s name (there may be other search methods used also, but these two …

Title Insurance Outsourcing – Make It Easy For Your Underwriter (Part 2)

This is Part 2 of a two-part blog series about how title insurance outsourcing affects the relationship between title agents and their underwriters. For Part 1, click here. In our experience, a quality and accuracy driven approach and methodical set up process reduces the possibility of issues between title agents and their underwriters.  The standards and requirements that were established …

Title Insurance Outsourcing – Make It Easy For Your Underwriter (Part 1)

Many title agents still remain skeptical about title insurance outsourcing solutions.   Part of the skepticism comes from uncertainty about how an outsourcing solution may affect a title agent’s relationship with its underwriter.  This blog explains how HDEP makes title insurance outsourcing easy for both the title agent and its underwriter. We have heard complaints about ‘cookie cutter’ title outsourcing companies.  …

The Impact of the Dodd-Frank Act on the Title Insurance Industry

The Consumer Finance Protection Bureau’s mission is to regulate financial firms so their actions don’t harm consumers.  With its very first enforcement action, the CFPB telegraphed that financial institutions would be held liable for the actions of their service providers and suppliers – as though those actions were undertaken by the financial institution itself. The first enforcement action by the …

Critical Error Definition For Title Plants

A critical error in a title plant is one that prevents a ‘prudent searcher’ from knowing that a document is related to their search. The term prudent searcher is important, because it assumes that the searcher is: using the title plant only to find documents that apply to their search, not as a substitute for looking at/examining the documents themselves …

Title Plants Speed the Search Process – Part 2

We have discussed the nature of conducting a property search using the county grantor/grantee books – a time-consuming task because the search has to be done by the property owners name before documents with the needed property can be identified. This was the impetus for building indices that could be searched by property rather than by name. The difference between …

HDEP’s Competitive Advantage for Title Insurance Outsourcing

We understand that as business environments change, our clients are looking for different types of business solutions and approaches. The different approaches depend on what goals you need to achieve for both short term and long term success for your company. I’d like to spend the rest of this presentation discussing how we view these different opportunities for our customers. …

Title Insurance Outsourcing and Liability

Quality is central. For HDEP, this means we have multiple quality control checkpoints in place to ensure a high level of quality on a consistent basis. To further ensure accuracy, we have our customers perform a level of quality control as well. Local/State Requirements. Each state is somewhat different and successful outsourcing therefore requires knowledge of geographic variances. At HDEP, …

Title Insurance vs. Casualty Insurance

In the title industry, there has recently been a lot of talk surrounding the issue of title insurance versus casualty insurance. Much of the talk has been about the slow and gradual shift in terms of both work and risk from the title insurance industry to more of a casualty type of insurance industry. What is the difference between Title …

Title Plants Speed the Search Process – Part 1

“Constructive notice is a legal term meaning that persons are assumed to have knowledge of something by virtue of the fact that it is in the public record.  This principle means that someone cannot deny knowledge of a fact because they have a duty to inquire. For example, if you purchase property, you are presumed to know the legal status …