I was reminded last week to always have “a bunch of friends in the business” — aka — use more than one appraiser, more than one title company, more than one home inspector, etc.
On Thursday last week, I received an email indicating that the following title companies had ceased operations and we had quite a few deals with one of these companies…
American Heritage Title Agency, Inc.
Arizona Title Agency, Inc.
Financial Title Company
First American Heritage Title Company
Guardian Mortgage Documents, Inc.
Investors Title Company
Lender’s First Choice Agency, Inc. (dba Lenders Choice Title
Company in California)
Mercury Exchange, Inc
Mercury Settlement Services, Inc.
Mercury Settlement Services of Utah
Mercury Transaction Services, Inc.
Title America, Inc.
Title Guaranty Agency of Arizona, Inc.
Title Guaranty Agency of Colorado, Inc.
United Title Company, Inc.
United Title of Texas
USA Digital Solutions, Inc.
When I got the email, my first thought was “THAT MANY title companies shut down in the SAME WEEK?” and my second thought was “I’m glad that we use more than one title company so we can easily switch from one to another!”
It is now more important than ever to remember that if you put all of your eggs in one basket, you may end up sorry.