NLIC.org

Carol Said:

Title Insurance Problem. We bought a house in December of 2006 from the Secretary of Housing (Fannie Mae).?

We Answered:

This is why the Title Company can not find this ocwen lien, it may not have ever existed. This type of thing is the reason Title Policies exist. Contact your mortgage service and advise them, as well as the Title Company, that at the time of close of escrow, the Title of this home should have been clear of all previous liens. (Mortgage, Mechanics..) It is the Title Companies job to ensure this. If there was an error, the title company is responsible to resolve it.

Irene Said:

Do title/mortgage companies realize how annoying it is when they ask insurance agents for a binder on a home?

We Answered:

You just got a sale on a homeowners policy. Your job, IS to "pull it out of your a**", as you so eloquently put it.

It is an extra sheet of paper that you can toss their way. You should be able to get this paper pushed out, and onto the fax machine, in under five minutes, after the client is entered into your system - which should take another five minutes.

I've had real estate agents, who specifically called ME, when it was an hour before closing and there was no binder in place. I've made TONS of sales that way - because they knew I could place it, period. If the client can truck over to the office with cash in hand, I can look up basic information on the local property tax website (and get photos) while they're on their way over, and do it all while they're sitting there.

The agent that does that, gets the sale - and lots more repeat business from the real estate agent. The agent that wants 2,3, 7 days advance notice - doesn't get the business.