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Automation Risk Analysis

Will “Settlement Processor” be Automated?

Historical Context: Oxford Study (2013)

Ranked #701 of 702. Estimated risk: 99.0%

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AI Exposure Risk

60%

“Settlement Processor” will maybe be replaced by AI.

Based on the cognitive demands, communication requirements, and logical reasoning intrinsic to this occupation according to O*NET data, we project a 60% probability of disruption by generative AI and Large Language Models.

Automation & Robot Risk

35%

“Settlement Processor” will probably not be replaced by robots.

Evaluating the physical dexterity, repetitive motion tasks, and manual labor associated with this role, our analysis indicates a 35% likelihood of substitution by advanced robotics systems.

Personal & Financial Insights

Every occupation has a unique profile. For Title Examiners, Abstractors, and Searchers, the Bureau of Labor Statistics and O*NET classify the day-to-day work broadly as: Search real estate records, examine titles, or summarize pertinent legal or insurance documents or details for a variety of purposes. May compile lists of mortgages, contracts, and other instruments pertaining to titles by searching public and private records for law firms, real estate agencies, or title insurance companies.

Avg. Annual Salary $59,600
Avg. Hourly Wage $28.65
Available Jobs (US) 48,170
Job Title & Hierarchy Code (SOC) Title Examiners, Abstractors, and Searchers #23-2093
Wage vs. National Median
ℹ️

Data is based on the reference occupation: “Title Examiners, Abstractors, and Searchers”

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Core Skills & Abilities

  • Assess fees related to registration of property-related documents.

  • Verify accuracy and completeness of land-related documents accepted for registration, preparing rejection notices when documents are not acceptable.

  • Obtain maps or drawings delineating properties from company title plants, county surveyors, or assessors' offices.

  • Direct activities of workers who search records and examine titles, assigning, scheduling, and evaluating work, and providing technical guidance as necessary.

  • Summarize pertinent legal or insurance details, or sections of statutes or case law from reference books for use in examinations or as proofs or ready reference.

  • Determine whether land-related documents can be registered under the relevant legislation, such as the Land Titles Act.

  • Read search requests to ascertain types of title evidence required and to obtain descriptions of properties and names of involved parties.

  • Prepare reports describing any title encumbrances encountered during searching activities and outlining actions needed to clear titles.

  • Prepare and issue title commitments and title insurance policies, based on information compiled from title searches.

  • Confer with realtors, lending institution personnel, buyers, sellers, contractors, surveyors, and courthouse personnel to exchange title-related information or to resolve problems.

  • Examine individual titles to determine if restrictions, such as delinquent taxes, will affect titles and limit property use.

  • Retrieve and examine real estate closing files for accuracy and to ensure that information included is recorded and executed according to regulations.

  • Examine documentation such as mortgages, liens, judgments, easements, plat books, maps, contracts, and agreements to verify factors such as properties' legal descriptions, ownership, or restrictions.

  • Prepare lists of all legal instruments applying to a specific piece of land and the buildings on it.

  • Enter into record-keeping systems appropriate data needed to create new title records or to update existing ones.

  • Copy or summarize recorded documents, such as mortgages, trust deeds, and contracts, that affect property titles.

Technologies & Software

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  • Data Trace Title IQ
  • Customer relationship management CRM software
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