As a Mortgage Broker in South Florida (Palm Beach Gardens) part of what I do when a client is either purchasing or refinancing a property is get in touch with the Title Company.  It is illegal for a Lender or a Mortgage company to restrict what title company the client would like to use. (Unless a purchase please speak to your Full-Time Realtor to find the answers in your area) However, in the case of Hard Money type loans it is allowed because in many cases these loans fall out of guidelines because they are private investors.

Getting back to the purpose of this post, it always amazes me when I am with a client and when I ask them if they have a title company they would prefer to use or would they like to go with one that I would suggest and have done business with in the past they tell me they have a friend or know someone who will take care of them or even give them huge discounts. In my opinion a Title company should always be a independent 3rd party.  I usually ask are your friends actually the people that will work on your file? If not how do you really know you are getting the best quality service.  The truth is when I go to the FAMB (Florida Association of Mortgage Brokers) trade shows you see the most amazing beautiful woman dressed in extremely short skirts and low cut blouses working for some title companies.  They promise me they will always take care of my clients. ( I will let your minds guess in what way) All these woman's jobs are to go out and get new files for the company they work for. Now the title companies might be good but who really knows?  The proof is in the pudding

Awhile back I was refinancing a client when he asked if he can choose his attorny's title company.  In my experience I have found that the attorny's just do this for extra cash and outsource the service then at the closing table to prove why they are charging what they are charging will try and re-negotiate the lenders fee's for the client.  (But I am not bitter) Well in this case I was forced to eat my words.  This Law firm is a very prestigious law Firm in West Palm Beach and has a fleet of in house attorney's along with what I feel is one of the best Title companies I have ever worked with.  Even though their was no sexy woman in a short skirt or low cut blouse telling me how they are going to make my clients happy or huge discounts (but the prices where very fair).  I was so impressed with this company I have used them in many cases even though they do not advertise to the public and this service was really meant for their own clients. 

Last week brought this title company to the next level for me.  We had an early morning closing on Monday scheduled which is what the client was insistent on and since it was a refinance of a primary residence we did not have to wait on any wires to come in.( 3 day right of recision was in place)  This title company stayed in their office on a Friday night until 7 PM to make sure all docs where in and in addition at 6:30 was on the phone with the Lenders closing department going back and forth. (the lender as well was on east coast time) We had to close on that Monday because of Rate lock and programs had changed so if we did not close it at that time the client would not have been able to refinance their loan with the new guidelines.

When the pressure was on they delivered!

Will Your Title Company Deliver like that?

So in closing, do you really know who your title company is or where you just looking to save a few bucks?  Maybe your friend had one of these woman visit their office and promise that they would make you happy if you choose them as a title company.  Price and Empty Promises is now what you need when you are making in most cases the biggest financial decision of your lives. A Title Company is their to protect you.

*Note* I am not an attorney and because of strict solicitation laws for attorneys I have not posted the name of the company on my post. If you would like to know please either call me or e-mail and I would be happy to pass on this information to you.

For Mortgage Advice: Mortgage Advice in South Florida

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