Let’s get going!
Provider list. It’s nothing new. It must contain at least one provider for each service and multiple providers are permitted. Still nothing new.
The list must be on a separate sheet of paper, and it must express that the list is NOT an endorsement of providers. However, consumers are not expected to know, so be sure your name is toward the top of the list. Maybe you can entice your lender to put your name in Bold or ALL CAPS, or BOTH. Not! Just kidding!
Lenders will be requiring providers to meet certain standards that need to be worked on now. Accounting policies, privacy, and training of employees will be a portion of their vetting. Vetting, where did that term come from. There’s a good reason to vet politicians and appointees, and now vetting companies and employees will be a part of our lives.
Some companies have been established, and many more will come, to assist you with this process. Thus adding to the price of IT, printing, training, and staying in business.
‘If we build it, they will come’, has entered the title insurance world. It’s built and we will adhere.