What are the risks in accepting a check made out to the wrong bank? For example a title company cuts a check to pay us off and makes it out to ABC Bank NA when we are just ABC Bank. Normally we would send it back and have it corrected but one was accepted and it was discovered a few months later.

Little to no risk. They would have to prove that you were not entitled to the money,

Is there so little that we should stop having them correct it when it is noticed upfront?

I am sure your proper remittance information is an integral part of your closing instructions. It really is not your issue that they cannot following instructions. If the only variance is a slight misspelling or adding an N.A., I would not sweat it, but if you are ABC Bank and they write the check to XYZ Bank, then I think you need to correct that. The other thing is to just tell them if they can't get their remittances correct to you, you wonder about all the other closing remittances they are responsible for and that you might want to tell them to get their act together or you will take them off of your approved closing agent list.