Good, Fast, Cheap: Pick any Two

As a title agent marketing my services to loan officers and realtors, I often hear that so-and-so title company turns their title work around in a day, or even within a day. My response has always been something like "So what? Are the loan docs going to be ready tomorrow?" Of course not. It takes anywhere from a week to a month to get a loan approved. So what's the big rush for the title work?

Now with off-shoring of abstracting, we have reached the epitome of fast and cheap. But good? You can't have all three.

Thankfully, some quality assurance is coming down the pike. Thanks to the education committee of The National Association of Land Title Examiners and Abstractors (NALTEA), we now have a certification test for abstractors. Check out Robert Franco's review from Source of Title Blog:

Perhaps these results will make the industry realize that abstractor
selection should take into account more than just price and turn-around
time.

Exactly. I urge everyone in this industry to ask if their abstractors carry NCA or NMA designations. I'll take good over fast any day of the week.

Cass