The FSH Working Group, LLC A team of independent title insurance executives reports on its work |
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FeeSimpleHosting |
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| This website is about title insurance. . . | February, 2010 |
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in brief |
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▪ Every title policy, nationwide |
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What's happening now . . -- December, 2009. Support is growing among the major insurers. Informal acceptance by the required "quorum" is expected soon. — "How a Fateful 2002 Decision by Fidelity National Threatened the Title Industry's Best Chance for Modernization in Half a Century" A series now running in the Condell Private Letter. |
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| It describes an important initiative that will dramatically lower its cost | |||||||||||
| An online pool of previously issued policies will be built, national in scope and open to title companies everywhere | |||||||||||
| It will revolutionize and transform the way title insurance is written | |||||||||||
| It's called Fee Simple Hosting and it's ready now to be put in place | |||||||||||
| Isn't universal file sharing simply a logical and obvious idea? Yes, but in a thousand years the nation's title companies, left to themselves, would never come up with it, never agree to it, and never figure out how to get it done . . . | |||||||||||
| Originally put forward in 2002, it is more necessary now than ever before, and less expensive to do. | |||||||||||
| Had it been put in place in 2002 there would now be 66 million policies in its online pool | . . and that’s why the Working Group spent two years doing what it did. It resolved every operational and structural detail, every rule of governance, technology, and finance. All the title industry has to do is say yes. |
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What should an underwriter do If it thinks it would like to participate? |
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About the FSH Working Group . . |
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| Why some title insurance people can sometimes be skeptical . . . until they sit down and study it. . . | |||||||||||
Fee Simple Hosting's Defining Documents |
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Discussions . . . "Universal File Sharing: When Will It Come?"
"A Few of the Problems Some Title Companies Seem to Have With It" |
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• Introducing FeeSimpleHosting • FeeSimpleHosting in Detail |
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How will it actually work? |
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Don't title companies utilize previous searches now? Don't they share them? |
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| How you can help move this important initiative forward . | |||||||||||
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| Who will manage Fee Simple Hosting? |
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A professional management team will be recruited immediately upon approval by the required quorum of title insurers. Management will report to an independent board of directors. Members of the FSH Working group will assist and advise during the company's early development stages and serve as board members, but will not have permanent management roles. . |
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Who will benefit? |
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Who will own and control it? |
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Title Examiners: imagine having the immediate prior policy in front of you on every job. |
Why in the world haven't all the major title insurers quickly said yes to this? You will have to ask them. It would cost them virtually nothing and would bring them significant wealth. |
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| That’s the magic of Fee Simple Hosting. It dramatically changes the job of certifying and insuring title | |||||||||||
Have any title insurance underwriters indicated they'd like to participate? |
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| But Fidelity National, First American, and Stewart have not. Fee Simple Hosting cannot begin without them. | |||||||||||
Copyright 2001-2009 FeeSimpleHosting, Inc |
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