Looking through the employment section when I noticed something I don't think I had seen before;
First American National Default Title Services
There are quite a few title companies in existence, I don't think I've noticed one using Default in the company name.
What does the Default mean? anything? Has this been around for awhile and I'm just now figuring that out?
They specialize in repo related real estate.
Thanks AH, i didn't know if i could google that. I still wonder what default title is. I remember companies scrampling to secure mortgage servicing rights after the '08 crash and some pretty sad stories of collecting unearned fees. But default title ??
R.J. Schneider, post: 388014, member: 409 wrote: Thanks AH, i didn't know if i could google that. I still wonder what default title is. I remember companies scrampling to secure mortgage servicing rights after the '08 crash and some pretty sad stories of collecting unearned fees. But default title ??
Default - as in defaulting on a loan, failure to pay, foreclosure, repossession by the mortgage company. They specialize in foreclosures. Banks/Mortgage companies will handoff loans that are in default to companies like these to recoup whatever they can from the property. With such a large number of foreclosures after the 08 crash, banks were overwhelmed. Then up pops businesses like this one that can take the pressure off of a bank to get through the foreclosure process. America.
"We're building a new road. Right through here." Says the PLS while pointing at the house of the man who has 100 questions.
I suppose I was reading that in a surveying sense, that default had something to do with boundary determination, or a maybe claims on a title policy (deeper pockets theory), but, yes, title, by definition, isn't limited to boundary. I would guess they're better positioned to sort through the whole loan-note-title-assignee-nominee quagmire.