Title Insurers Facing Private Transfer Fee Challenges
Are Private Transfer Fees truly a threat to the free transfer of property? Some would agree. Regardless, they sure are causing a problem for title companies.
Four Decades Later
I entered the title industry fresh out of college in September 1970. I remember my first day at work, dressed in a green shirt, tie and cuff links. I started out with Chicago Title in Los Angeles as a printer. It wasn’t long until I got promoted to customer service, then searching and ultimately a production title officer.
In those days we typed up the prelim on IBM Selectric typewriters with about 5 carbons. Typos were a mess to clean up and all the title work was done in-house. Our online title plant only had a depth of 7 years. We wouldn’t even search the GI for a full 10 years unless it was a high liability order (over $100,000 at that time). Any out of county orders that crossed our path were sent to another company in that county. I remember the amazement we felt when we got our first set of microfiche.
It was ‘state of the art.’
Title Industry Trends
On the surface it would appear as if good times are here again.
For the third consecutive week our search and exam clients have registered increases in open orders. This upward tick is following a particularly strong October in comparison to recent years. The geographical trend is interesting however. Our customers in the Midwest are experiencing a subtle but steady decline in open orders, probably attributable to colder weather. Our customers out west are experiencing significant increases in open orders. Interest rates? Making Home Affordable program? It’s anyone’s guess.
July 12, 2010 by Jeffrey Bates
Four Decades Later
January 15, 2010 by Doug Bello
Title Industry Trends
November 19, 2009 by Jeffrey Bates
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