Hi, I am working to learn more about title abstracting and wanted to know a little more information with dealing with these types of documents. I have some limited experience. I have seen the initiation documents of the Mortgages via the Deed or Trust(Texas). However I am having trouble tracing them either to assignment to another Lender or them being released. I am doing most of my research online. I can find the servicer via Mers, but can’t access the release or determine the current holder. Any help will be greatly appreciated.
You capitalized “Title Abstracting Services”. Does that mean it is the name of a company you are working with? If so, can you give a link to their web site?
You know that in some states one must either be a lawyer or have a license to do title abstracting for others, right? And that if you make a mistake, you have serious legal liability.
Nope, fixed the wording. I’m just learning the ropes. Looking forward to any advice.
You may want to take a look at this site…
IMO you can’t adequately self-teach title abstracting; it is not as “simple” as going through a stack of papers and getting signatures; your liability alone is incredible - one mistake can cost folks the ownership of their home and beaucoup dollars in damages - all of which you’d be responsible for. Further, title companies will be relying on the results of your reports to issue title insurance policies. IMO adequate formal training is a must for this type of industry.
I wish you luck and strongly suggest you check out the link I provided - which is the Texas Land Title Association.
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Thanks LindaH. I whole-hardheartedly agree. I am doing it for informational purposes just to get an idea of all the encumbrances and other issues that go into a Title search. However if I was to make a decision, I’ll will rely on a professional’s opinion.