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title: Well, I lost another one.......OR DID I???
- 06/02/08 06:09 AM
This morning I told you all how I lost another deal to the strong-arming of a realtor with a JV title company.
I replied to an email I received from the buyer stating that I understood and that I would still be willing to help in whatever way that I can. I told him to be careful and watch for a high settlement fee or notary fee as I have recently seen some crazy fees on HUDs.
I immediately get an email back from him stating that now all of a sudden they are going to charge him a really high settlement … (1 comments)
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title: Well, I lost another one.......
- 06/02/08 01:57 AM
I got a call on Tuesday last week from a friend of mine that we closed a deal for a few months back. One of his friends from work was buying a house and he mentioned my company. Early Thursday morning, I get a call from the buyer. We discuss some details and he said that he would like to use me for title.
Later that day, I called his realtor to introduce myself and ask for a commission statement. She began to question when I would have the title ready. I told her I would have everything ready by tomorrow … (0 comments)
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title: Do you mind if I vent a little......
- 04/18/08 08:45 AM
We are closing a Fannie Mae cash deal tonight. These people are buying a 3 bedroom house for $12,000.00 They have declined obtaining an Owner's policy for title insurance, so basically all my firm is making is the "Settlement Fee". Do you know, the buyer is fighting tooth and nail about our minimal settlement fee.
YOU ARE GETTING A HOUSE FOR $12,000! You can't even get a motorized scooter for $12,000 these days. What could you possibly have to complain about. If I was charging you $1,000 or something I would understand, but I am talking about $250. UGH!!!
Sorry, just had to let that out. … (5 comments)
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title: The Benefits of a Small Title Company
- 04/03/08 03:58 AM
My partner and I used to work for a large national title company who has recently announced that they are closing their doors. I live in Pittsburgh and there are no less than 5 or 6 large title companies who have ceased operations here.
When I started at that national title company, their entire business was small mortgage broker shops. We were closing 500 - 600 loans a month. Then new ownership came in and all they wanted was to land the big fish client. They started to lose their customer base, their foundation. At that point, my partner and I realized … (17 comments)
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title: Southwestern PA Title Company Woes
- 03/13/08 06:22 AM
As many of you probably know, Pittsburgh is the mecca of title companies. LSI was the first one about 50 years ago and from LSI spawned ATM, ServiceLink and National Real Estate just to name a few. In the past six months however, a large number of Pittsburgh title companies have closed their doors. Express Financial was one of the first ones to close up shop. They left about 100 people out of work. There are several other medium to large title companies closing in the next few months (I won't mention names because it is not my place to do so). … (11 comments)
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