Last October, New Orleans experienced a dramatic computer meltdown that literally stopped real estate in the area in its tracks. When three servers failed at once in the New Orleans Parish Civil District Court, the losses included computerized indexes of titles and records for real estate in the entire parish. Due to a failure on a contracting company’s end, there were no backups. However, today, the office is (partially) back up and running.
The Clerk of Court Dale Atkins and her employees have been pulling all-nighters since the original crash in an effort to restore and verify the data on properties throughout the parish. Why is this so important?
Because without the ability to verify that a title is clear, it is pretty nearly impossible to perform any real estate transaction that requires any type of loan on the property. Underwriters simply cannot and will not accept the risk that the title that they are insuring might not be clear.
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