FSH Working Group

The FSH Working Group, LLC A team of independent title insurance executives reports on its work
				FeeSimpleHosting
	This website is about title insurance. . .	September, 2011		FeeSimpleHosting
		September, 2011		in brief
				in brief
						▪ Every title policy, nationwide ▪ Posted to an electronic pool ▪ Accessible via the internet ▪ By any title company needing it ▪ Go-forward posting mandatory ▪ Back policy posting is optional ▪ Retrieval is optional ▪ No charge to post ▪ A fee to retrieve ▪ Fees divided so everyone wins ▪ Underwriters enforce posting ▪ Must be industry-wide ▪ Technology provider: IBM
	It describes an important initiative that will dramatically lower its cost		What's happening . . -- ONE OF THESE DAYS, not too long from now, Dodd-Frank and its Consumer Financial Protection bureaucracy will reach into the title and settlement industry and begin messing with it. Everything will change. Everything will become more expensive and more cumbersome. Everything will move more slowly. Profitability will become more difficult. If there were ever a time when title industry modernization were critical, it is now. Modernization must begin with a determination by title and settlement people everywhere to step up, come together, and take the obvious first steps. FeeSimpleHosting would be an excellent beginning. In one easy step it would transform the industry. -- UNFORTUNATELY, THE FUTURE OF FEESIMPLEHOSTING IS IN DOUBT. The major title insurance companies have yet to perceive the value and wisdom of this opportunity. It is therefore on indefinite hold. If it had become a reality in 2002 when first offered virtually free to the major underwriters it would now have more than eighty million prior policies in its online pool. Every title company in the nation, big and small, underwriter and agent, would be enjoying its benefits. — REGRETTABLY, IN MAY OF 2010 the final major underwriter needed to achieve the required 'quorum' of title insurers refused, once again, to participate. — HERE IS ONE TO READ: "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. — FEESIMPLEHOSTING IS DECLARED an integral and critical part of the FIVE POINT FUTURE for the modernization of the land title industry.
	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.
	It's called Fee Simple Hosting and it's ready now.				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 more than 80 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.*
	About the FSH Working Group . . Seldom in business has there been a story quite like this. A group of title insurance executives get the idea and see the possibilities. They take it upon themselves to make it happen. They continue today in 2011 to do all they can to bring about this highly meaningful change to the business of title insurance.

					Why some title insurance people can sometimes be skeptical . . . until they sit down and study it. . .
					Discussions . . . "Universal File Sharing: When Will It Come?" "Frequently Asked Questions" "A Few of the Problems Some Title Companies Seem to Have With It"
	Don't title companies utilize previous searches now? Don't they share them? To some extent, yes, but much less than you’d think. Title companies like to believe they are and they will tell you they are, but in the main they aren't.
					• HOW YOU CAN HELP move this important initiative forward .
			What should an underwriter do If it thinks it would like to participate? Simply email President@FeeSimpleHosting.com
					Who will manage Fee Simple Hosting?
					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. .
			Fee Simple Hosting's Defining Documents
	Who will benefit? Everyone will win, no one will lose. That's the way it's designed.		Fee Simple Hosting's Defining Documents
			• Introducing FeeSimpleHosting The 26-page summary handed to senior managements of the major underwriters • FeeSimpleHosting in Detail 52 core documents in PDF format. Address requests to: President@FeeSimpleHosting.com
	Title Examiners: imagine having the immediate prior policy in front of you on every job.

	That’s the magic of Fee Simple Hosting. It dramatically changes the job of certifying and insuring title
			How will it actually work?
			Finding a prior policy is easy. Click here to find out how.

			Posting new policies is easy Click here to find out how
			There are some important rules. Click here to see them
			Who will own and control it? FeeSimpleHosting, Inc. is a new corporation that will be owned by the title industry.
			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.
			Have any title insurance underwriters indicated they'd like to participate?
			Yes, but several key ones have not. Fee Simple Hosting cannot begin without them.

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