Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: ridingycurve who wrote (71196)	10/6/2006 3:09:57 PM
From: Ramsey Su	Read Replies (1) \| Respond to of 110194

I do not know the exact details of their offer but it sounded like a package of information that a servicer would need, when faced with a defaulting borrower. From First American's perspective, I am guessing that they are turning something that is totally unprofitable to a revenue generator. I assume it will include a Trustee's sales guarantee (TSG). This basically a prelim title report. For "outsourcing", I assume it would be a BPO (broker's price opinion) network to give you a quick opinion of value. It could also include a driveby to see if the place is still standing. Title companies do not get paid for TSGs unless there is a full foreclosure. By providing this package, may be they get a fee for it while retaining the customer for future business.