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Posted by Bear900/CA on 10/13/21 2:39pm
What a waste of time and for what value?
Let's go for a ride down loan origination road....
During the underwriting process, the underwriter will always ask for a Certificate of Liability Insurance from title...or, they won't deal with them. The lender holds title responsible in large part for errors and omissions during closing.
See a pattern?
In this case however, title certifies they are covered for $5,000,000 in E&O and $10,000,000 in bond.
They do NOT certify that a notary will cover them with their little $25k and $100K policies.
I can imagine they've had their share of woes paying on the cheap to certain notaries.
Think John Hancock trying to pass the buck on the Copley Plaza lawsuit. Title is still on the hook! |
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