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Title Notes E-News               West Virginia Bankers Title, LLC                  July 2016

Support West Virginia Flood Relief Efforts
A message from Bruce Whitehurst, President & CEO, Virginia Bankers Association

More than 450 VBA members and guests enjoyed a wonderful three days at The Greenbrier last week for the 123rd VBA Annual Convention. Just 24 hours after we arrived back in our respective home towns, West Virginia was hit with a storm that caused the worst flooding the state has seen in 100 years.  The damage and loss of property and life in White Sulphur Springs, the town in which The Greenbrier is located, is devastating. The Greenbrier has played host to numerous VBA Conventions and events for decades and we want to help give back to the community and the resort that has provided so many positive memories for us and our members for so many years. 
 
We reached out to Joe Ellison, President & CEO of the West Virginia Bankers Association, and a resident of neighboring town Lewisburg, to ask how we can help.  He has advised us that contributions can be made to his church and they will funnel the funds to the locations most in need of our support. 
 
West Virginia Bankers Title and its sister VBA-Managed and Virginia agencies have collectively made donations to assist in the WV flood relief efforts. We encourage you to considering making the same commitment.

If you are interested in making a contribution to the flood relief efforts, please send a check, with Flood Relief on the memo line, to St. James Episcopal Church in Lewisburg, WV.  The address is 468 Church St, Lewisburg, WV 24901.  Thank you for your support.
Digital Detox: How to Unplug And Why You Should
by Meghan M. Biro

Remember when we all had hopes that technology was going to reduce our "busy time?" Well, guess what? If anything, the exact opposite has happened-to a degree that I bet no one could have ever predicted 20 or 30 years ago. Now, I am a huge fan of technology and of the positive aspects it offers for work and play. However, I also understand the benefits of a "digital detox," and unplugging from technology from time to time. Click HERE to learn more about the benefits of getting off the hamster wheel of non-stop connectivity. 
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Work-Life Balance is a Myth
by Rich Jones

Life is made up of many experiences, events, people and places. It is not something that can be parsed out in equal amounts because these demands present themselves to us often and in ways we didn't expect. It is these experiences, events, people and places that make our lives exciting and challenging. Once we understand that our work, relationships, and activities are affected both good and bad by life, we can be more successful in putting our attention, thought and effort to those events based upon their priority. Click HERE to learn steps to attaining an integrated life. 
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Get time ON your side: 10 tips to improve time management and productivity
by Paul Robert

The naive optimist in you sees being busy as job security; the realistic pessimist sees it as putting your job at risk because production isn't being realized. Which is it? Maybe a little of both but, at the end of the day, the lack of production is the greater issue and the one that should be improved. Your long-term career success and personal gratification depend on it.

Following are some tips for managing your time throughout the week so you can get more done. You don't have to do each of these to their fullest extent; however, you should attempt to do each of them to some extent. A 10% improvement in each of the ten areas will result in a huge savings over a week's time. Read on .... 
Industry Hot Topic: (TRID) TILA/RESPA Integrated Disclosures - PART XVI

A few recent articles for your reference:
These Common Title Problems Can Snag Your Home Closing
by  Sandy Gadow

In almost all real estate transactions, there are title issues that must be cleared up in order to transfer ownership of the home from the seller to the buyer.
Does the seller have the legal right to sell the property? Is the home's title free of "clouds" or "defects" - such as judgments, liens or bankruptcies - that would prevent the seller from transferring "clear" or "marketable" title to the buyer? How can you be sure?

Title companies report that in more than one-third of all real estate transactions they must undertake "extraordinary work" to address title issues ... A title insurance policy will be your best protection against any title problems that may become known after you close on your transaction. Click HERE to learn more about potential defects in title that can impact a real estate closing.
Giving the Financial Industry Permission to Fail Faster
by Rob Mills, Banking.com

Most organizations in the financial services industry have the knowledge and the vision to deliver what will delight customers and keep their organizations relevant.  Somewhere though, the majority end up allowing fear to slow them down or even stop them from executing. 

So how do we solve this?  We need to give ourselves permission to fail faster - not in the Silicon Valley buzzword kind of way, but in a way that removes the fear and the roadblocks, a way that allows us to quit making the statement of "That's the way we've always done it" and allows us to do something better than "which of our peers has already done this?"  Click HERE to read more and you will be amazed at where getting past the fear and encouraging your teams to fail faster in smaller chunks will take you.
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Here are additional articles related to Bank Leadership you may enjoy: 
Loan officers, should you be making a six-figure salary?
'The job isn't easy'
by Brena Swanson
 
The salary of a loan officer is not a clean number. This might sounds daunting at first, but when you think about the six-figure salary potential, it hopefully drums up more excitement and potential than fear. 
 
"If you have to ask that question, then the answer is probably 'no'. However, if you're not asking that question, and instead are asking, 'what can I do to be making 6 figures,' then the answer is much more likely to be 'yes'." Click HERE to read more.
 
 
Five Ways to Improve Your Bank's Commercial Lending Department
by Chris Rentner

When running a business, one of the most important things an owner needs is access to capital. Unfortunately, getting their hands on that much needed capital is never easy, quick or painless. In fact, it's quite the opposite. But the experience doesn't have to be all bad. If you are a lender, consider these five steps to stand out from your competitors:
  1. Be Convenient
  2. Be Fast
  3. Be Easy to Work With
  4. Be Aware of the Big Picture
  5. Be Prepared
With every bank knocking at the doors of the same businesses, competition for quality customers has never been more intense. Follow these five simple steps to set the customer experience your bank delivers above all the rest. Click HERE to read the details.
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News for Community Bankers:

A few recent articles for your reference:




Economist Says Summer May Be the Hottest Season to Buy and Sell

Buyers are urged to get prequalified for a mortgage before they start shopping and are discouraged from making the purchase contingent on the sale of their own home or asking to take possession of the home before closing. That's a prescription for disaster. 
 
Sellers should make themselves and their home available to be shown by real estate agents and make sure it's as pristine as possible. Make necessary improvements such as new paint, fixtures and flooring. But don't go too far. Click HERE to read the entire article. 
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Here are additional articles related to Realtors® and Real Estate Trends you may enjoy:

SPECIAL REQUEST FROM YOUR WVBT STAFF:
Use of Title Request Form
Improves Your Client Experience

In a continuous effort to provide the best service to you and your customers, I'd like to stress the importance of theTitle Request Form and why it is imperative that we receive it. The most obvious reason is so that we may order the title search from the attorney, but the Request contains vital information we need in order to issue an accurate Policy in a timely manner:
  • Contact person - Without knowing who is working on the file we cannot ensure that you will receive a copy of the documents you are waiting for. We also do not know to whom to direct any questions should we have any.
  • Loan amount - Determines the premium.
  • Construction/mobile homes - There are specific requirements that must be met with construction loans or property containing mobile homes. If we are unaware of this information, your Policy may not contain the appropriate coverage.
  • Vesting - For both refinances and purchases we need to know who the vested owner of the property is intended to be so that we can make the correct deed requirements and confirm that the right people are signing your Deed of Trust.
  • Closing agent - This will determine if a Closing Protection Letter is needed, which will also effect the premium.
  • Special instructions - Do you require a chain of title on your Commitment? Will your lien be in second position? Do you need particular Endorsements? This is the space to inform us of any specific items that need to be included with your Commitment/Policy.
Please do not assume that the attorney will give us this information. They often do not know how your loan is being structured and therefore cannot provide the information we need to issue your Commitment and Policy.
 
Your cooperation in this matter is very much appreciated and, as always, feel free to contact us with any questions or concerns you may have. Click HERE to access the WVBT Title Request Form.

 

**Remember to offer your borrowers Owner's Coverage on their most valuable investment. It's a one time premium with a lifetime of security. In addition, they will receive a reduced premium rate when they obtain it simultaneously with your Lender's Coverage.**

WANTED: YOUR FEEDBACK
What Topics Are On Your Mind?

West Virginia Bankers Title wants to provide you with pertinent information in future E-Blasts and Webinars. What questions are on your mind regarding the real estate and mortgage lending industry? What Topics would you like addressed in future E-blasts? Send Jade Audia your thoughts.
Bob Drummond
Give us a call and let us know how we can better serve you and your team!
Vice President & Agency Manager
West Virginia Bankers Title, LLC
1547 Tulip Lane
Fairmont, WV 26554
304.333.5162
1.877.439.4910

 
Integrity. Security. Excellence.

At West Virginia Bankers Title, our goal is to provide security for your most valued investments, while offering exceptional customer service and delivering quality title insurance products in an accurate and timely manner.
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