Posted by Ndwa on 11/18/06 1:28am
Msg #160940

Can't figure this one out

Did my first signing for a new TC today. They had the wierdest title docs I've ever seen, and within those title/escrow docs were privacy policy disclosures from 4 other (different name) TCs.

Can someone shed some light into this?

Reply by BarbaraL_CA on 11/18/06 1:53am
Msg #160941

Guessing here... could the title companies have a business relationship with each other, or dba 4 different names?

Reply by sue_pa on 11/18/06 6:40am
Msg #160946

I'm guessing they are for the various insurance underwriters they use - even though only one of them is being used for each transaction - I don't know know privacy laws but I'd guess it's the overkill we see in other areas - close out letters when there is no HELOC to close out - check disbursement sheet when funds are due, etc.

Reply by David Kral on 11/18/06 12:10pm
Msg #160986

Likely a rollup

Mortgage Bankers starts a CBA Title CO, that rolls up to a local title company, that may rollup to a regional, that may roll up the the national. I do not think I have seen a four level rollup, but I have seen three levels with privacy policies for each.