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July 2015
Title Notes E-News

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10 Habits of Ultra-Likeable Leaders
by Dr. Travis Bardberry

What qualities describe the best and worst bosses that you've ever worked for? 
  

If you want to be a leader whom people follow with absolute conviction, you have to be a likeable leader. Tyrants and curmudgeons with brilliant vision can command a reluctant following for a time, but it never lasts. They burn people out before they ever get to see what anyone is truly capable of.

 

Here are 10 key behaviors that emotionally intelligent leaders engage in that make them so likeable:

1. They Form Personal Connections
 6. They're Generous
2. They're Approachable
 7. They Demonstrate Integrity
3. They're Humble
 8. They Read People Like a Book
4. They're Positive
 9. They Appreciate Potential
5. They're Even-Keeled
10. They Have Substance

Likeability isn't a birthright; it results from acquirable skills that are crucial to your professional success. And just like any other professional skills, you can study the people who have them, copy what works, and adapt them to your own style. Try these ten strategies and watch your likeability soar. 


 Click HERE to read Dr. Bradberry's article in its entirety.

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 Here are additional articles related to the workplace you may enjoy: 
 

Industry Hot Topic:

TILA/RESPA Integrated Disclosures (TRID) PART VI

 

It's Official ....The Bureau is finalizing Saturday, October 3 as the effective date. The Bureau believes that moving the effective date may benefit both industry and consumers with a smoother transition to the new rule. The Bureau further believes that scheduling the effective date on a Saturday may facilitate implementation by giving industry time over the weekend to launch new systems configurations and to test systems.  A Saturday launch is also consistent with industry plans tied to the original effective date of Saturday, August 1.

  

The Top 5 Things to Know About TRID Now

from Mortgage Compliance Magazine

 

Now, still only weeks away from TRID's (TILA-RESPA Integrated Disclosure Rule or Rule) effective date, lenders, REALTORs�, and settlement agents need to be taking stock of their preparedness and communicating among themselves and with consumers about what to expect come October 2015. 

 

We asked three individuals from organizations recognized as industry leaders who have been dedicated to implementing TRID on time and in compliance to name their "Top 5" for TRID compliance. These thoughts are intended to help you ensure you're prepared and to provide insights on issues you need to consider prior to the effective date. Hopefully, their advice is helpful to your organization as it nears the deadline for implementation. 

 

Click HERE to hear advice from:

  • The Lender's Perspective
  • The REALTOR's� Perspective
  • The Settlement Agent's Perspective


Check out this "TRID Tips for Real Estate Agents" Flyer to help avoid delays on your closings after October 3, 2015.

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As you move through the learning curve with these new rules and forms, Virginia Title Center is here to assist you. Please do not hesitate to reach out to our Agency Manager, Bobby Fothergill (1.800.468.5811 or bfothergill@virginiatitlecenter.com).

 

Please reference TRID materials available on the Virginia Title Center website: TRID Training, Reference and Forms Manuals are available for download HERE.

 

Together We're Prepared!


Here are additional articles related to Compliance and the Regulatory Environment you may enjoy:

Linking Accountability to Strategy
by Jeff Marsico


When building accountability within their organizations, banks need to link their metrics to strategy in order to incent the appropriate behaviors.


Accountability need not be a dirty word, but it has become one. To many people, accountability means unrealistic goals, recriminations from the boss and invitations to the exit. Few organizations, including those in the financial services industry, would want that culture. To avoid it, we hold no one accountable.


But creating an accountability culture need not involve a negative environment that points fingers at those who put forth the effort yet fell short and praises the non-participants for flying below the radar. Banking organizations are naturally structured to align accountability and performance.

Click HERE to read on...

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Here are additional articles related to Challenges in Bank Culture you may enjoy: 
Lykken on Leadership:
Seven Ways to Motivate Your Team When Times Are Tough

by David Lykken, a 40 year mortgage industry veteran

 

Our industry has fallen on some hard times in recent years, and the recovery has been much slower than most of us have hoped. As leaders in the industry, few of us haven't felt the pinch. We've risked losing our businesses and cutting back on staff. But if these times are challenging for those of us who are leaders in the industry, how much more frustrating do you think it is for our people?

 

Much of what is going to lead to recovery in the mortgage industry is out of our control. In order to restore the industry to its previous levels of success, we do need all of the stars to align in the regulatory world and the economy. But, we will also need the people who are working in the industry to believe in what they are doing and to work hard to accomplish their goals. We need to keep our people motivated to push on through tough times. So, how do we do that? Here are seven recommendations ...

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 Here are additional articles related to the Mortgage Industry you may enjoy: 
How Great Customer Service is Really Delivered
by Victor Liu and Robert Schiff for American Banker

As an industry, banking does a poor job of connecting with customers. According to a recent Temkin Group report, consumers are more likely to recommend their fast food restaurants and airlines to a friend or colleague than their bank. Not good.


Banks can do any number of things in an effort to deliver for their customers - from offering the best interest rates to lowering fees. But before implementing these specific policies, they should take a step back to understand exactly what delivering for their customers means. In the end, perception is informed by the sum of a customer's experiences. Service counts, of course, but it's also about how a bank approaches its products, processes and customer interactions.


"Great customer experience means that customers accomplish all of their needs with minimal effort, with trust, and with a high degree of delight."

From our own studies, customers who had the best experiences were expected to stay with their providers six times longer than those who had the worst experiences. Click HERE to read on...
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Here's another article on customer service in banking you might enjoy: 
Romance Isn't Dead Between Community Banks and Customers ... Yet
Posted by Mark Arnold, On the Mark Strategies

 

Let's face it - for most consumers, your community bank is about as sexy as a faded powder blue muumuu with holes and an unraveling hem. The spark is gone, the romance dead. What was once red roses and chocolates is now prickly weeds and hard candy.

 

That "new relationship" phase is terrific. Both parties are a little nervous, apprehensive and excited to figure out exactly what the other can offer. Then, after a while, normal sets in and it's time to figure out if the two of you can make a go over the long-haul... think about it this way-the same is true of your community bank and its new customers.

 

So, the question becomes - how can you get customers to love your bank and keep the spark alive for decades? Following are a few ideas. Click HERE to read the entire article.

  1. Find your most passionate customers and listen to what they say.
  2. Tell your stories.
  3. Make building relationships more important than making sales.

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Here are additional articles related to Community Banking you may enjoy:
Buy...Rent...Buy...Rent...BUY:
The Millennial Struggle For
The American Dream
by Neale Godfrey, contributor to FORBES

 

Baby Boomers, it's time to help our Millennials fulfill the American Dream of homeownership! The last few years indicate that Millennials don't care, but that may not be the case.

 

...Let's face it; the American Dream of owning a home may have become the American nightmare for this younger generation. Fortune cited, "...that a mixture of student debt, declining credit scores, and lower salaries for youngish Americans means it will be a long time, if ever, before Millennials will be able to afford to buy a house." 

 

In 2014, numbers showed a move away from homeownership for Millennials... Wait a minute! We are now seeing a changing trend that is hot off the press! In March 2015, Bloomberg reported that the rising rental prices might be causing Millennials to experience a "nudge toward homeownership... First-time buyers made up 29 percent of existing-home sales in February, up from 28 percent in January and the first increase since November... click HERE to read Neale Godfrey's full article. 

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Here are additional articles related to Real Estate Trends you may enjoy:

 

**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?

Virginia Title Center 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 Patti your thoughts.
Past issues of the Virginia Title Center E-News are archived on our website HERE
Patti L. Dickerson                                      

Give us a call and let us know how we can better serve you and your team!

Director of Marketing & Communications
Virginia Title Center, LLC
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