Posted By: Inspector
Shopping list - web address - 11/28/19 12:20 AM
Curious to hear thoughts on the idea of listing the phone number and website for a provider on the shopping list but not providing a physical address. The commentary just says "such as a phone number and address" but specifically describes giving enough information that a customer can find the service provider. Would the web address for a national company be enough?
Bit of a side rant here, I have seen a lot of threads about using national title companies on the shopping list and discussion of whether this is appropriate. From what I have been seeing, most large lenders just use one national company and its creating bizarre situations when the national company doesn't have an office local. For example, National Title might write policies everywhere but can't conduct closing so they would contract out to a local company. But the customer doesn't know that and if they go to local title company who is using a national company policy the customer "shopped" when they are actually using a nearly identical set of companies for closing and lenders title. I have even seen a couple large lenders who are using title companies that have no physical offices anywhere in the country. Everything is contracted out locally and therefore the customer is "shopping" 99% of the time. Has the shopping list lost all meaning when it comes to title?
Bit of a side rant here, I have seen a lot of threads about using national title companies on the shopping list and discussion of whether this is appropriate. From what I have been seeing, most large lenders just use one national company and its creating bizarre situations when the national company doesn't have an office local. For example, National Title might write policies everywhere but can't conduct closing so they would contract out to a local company. But the customer doesn't know that and if they go to local title company who is using a national company policy the customer "shopped" when they are actually using a nearly identical set of companies for closing and lenders title. I have even seen a couple large lenders who are using title companies that have no physical offices anywhere in the country. Everything is contracted out locally and therefore the customer is "shopping" 99% of the time. Has the shopping list lost all meaning when it comes to title?