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Our offices will be closed on December 24 and 25, and January 1 so that our employees can enjoy the Holiday Season
with their family and friends.

December 2015
Title Notes E-News

Stay connected with us:  
Ways to Awaken the Potential in Your Workforce
by Pete Wheelan, CEO of Inside Track

Conventional wisdom says taking care of your employees is the right thing to do. Besides, no one enjoys having a reputation as a "bad boss."

The great thing about investing in human potential is it's both morally and fiscally responsible. When you help people become their best possible selves, your company benefits as much as they do. The effects can also spread beyond the company's walls, unlocking potential within families, communities, and society at large.

Here are six ways to awaken the potential lying dormant in your office:

1.  Give people purpose-filled work.4.  Create vibrant workplaces.
2.  Improve total compensation.5.  Offer opportunities for personal growth.
3.  Help employees find balance6.  Recognize superior performance.

To invest in human potential to improve your bottom line, remember this: Your employees are your company. Focus on nurturing both; one can't grow without the other. Click HERE to read more details about how you can awaken the potential in your office.
Industry Hot Topic: (TRID) 
TILA/RESPA Integrated Disclosures - PART X

TRID Hasn't Caused Any Major Lending Delays...So Far
Still in the early stages of implementation
by Brenda Swanson for Housingwire

Unlike some predictions, the mortgage industry did not implode once the Consumer Financial Protection Bureau's Know Before You Owe mortgage disclosure rule, also called the TILA-RESPA Integrated Disclosures rule, went into effect on Oct. 3.

In reality, according to results from the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey, there was no clear trend of an impact across loan types, though many of the sales weren't necessarily subject to the new TRID requirements. Click HERE to read the entire article.

NAR: TRID Delays Minimal in Closing Process
by National Mortgage Professional

"Realtors worked hard to get themselves educated about and ready for Know Before You Owe, and that work seems to be paying off," said NAR President Chris Polychron, executive broker with 1st Choice Realty in Hot Springs, Arkansas. "We are pleased that closing delays and other harmful effects resulting from the new rules have been reportedly few in number so far. Nonetheless, as the new rules continue to take hold, we anticipate there could be bumps in the road." Click HERE to read the entire article.  
7 Common Money Traps Even Smart People Fall Into
by Nancy Anderson, Contributor to Forbes

Managing cash flow is vital to financial success, since most of us don't win the lottery and have a lifetime stream of income coming in automatically every January. We work hard our money and want to make the most of it.

Here are seven spending mistakes to avoid to help your cash stretch farther:

1. Buying things on sale.5. Not maximizing points and rewards.
2. Buying stupid things.6. Not setting up automatic savings outside of
    your 401(k).
3. Throwing money at problems you can't solve
    with money.
7. Not spending enough.
4. Not spending when you have an opportunity.Click HERE to read the story behind these spending mistakes.

Here are a few additional articles you may enjoy:
Six Logical Things Mr. Spock Might Say About Long-Term Client Relationships
by Kristy Moore, SWBC
Ask any Trekkie fan if they are familiar with Mr. Spock, and you will most certainly hear a variety of answers. More than likely, they can quickly characterize his trademark look, rational approach, and recite some of their favorite Spock lines.

As a financial institution, you can take the Vulcan greeting to heart, since you definitely have a vested interested in running a successful and prosperous company for the long haul. Keeping a rational approach in mind, Mr. Spock might advise the following six logical things to know concerning long-term customer relationships:

Logic #1: Keep a laser focusLogic #4: Stay fascinating
Logic #2: Seek opportunitiesLogic #5: Encourage feedback
Logic #3: Accountability alwaysLogic #6: Remain thankful in an 'old school' way
There's a lot of time, work, and effort associated with this endeavor, as well much to gain. Also, you are quite aware it is illogical to think customers will continue conducting business with you just because they have been around since you opened shop. Stay in it to win it. In the immortal words of Mr. Spock, "Live long and prosper." Click HERE to read this article in its entirety.

Here are additional articles related to the Customer Experience  you may enjoy: 
Mortgage Company Sues Owners of 400 Georgetown Homes Over Titles
by Claire Osborn, American-Statesman Staff

The owners of 400 homes in a Williamson County neighborhood got a shock recently after receiving a federal lawsuit that said the land they had bought as far back as the 1990s really wasn't theirs.

JB Mortgage Co. started suing all the homeowners in the Crystal Knoll Terrace neighborhood near Georgetown in late October, claiming there was a lien against their titles. The Georgetown school district had illegally foreclosed on the neighborhood land in 1990 before it was developed, the lawsuit says.

At the time, the federal government owned the property and never consented to the foreclosure, which made it illegal according to federal statute, the suit says. The district later sold the land to developers, who started building the neighborhood about 1991.

But all the deeds, the lawsuit says, are null and void.

"This is a pretty good textbook case as to why people should buy title insurance," said Armbrust, the real estate lawyer. Title insurance, in most cases, covers up to the price an owner paid for the property. It doesn't cover appreciations in property value. Click HERE to read more about this case.

Here is an additional article related to Title Insurance you may enjoy: 
Here's the Truth Behind 6 Millennial Stereotypes In Lending
Along with 6 solutions to help your business
by Kristin Messerli for Housingwire

Millennials often get a bad name, but we are nonetheless the future of our economy. According to Accenture, Millennial purchasing power is at an all-time high of $600 billion per year, with an expected growth to $1.4 trillion annually by 2020. So why are companies paying little attention to such a huge market? Millennials have a branding issue.

While our generation is often called lazy or entitled, dwelling on Millennial stereotypes does not increase market share.

If you want to get my business, you must face the reality of today's shift in market dynamics.

Here are six Millennial stereotypes that explain how changes in consumer behavior impact the survival of your business and changes you should make to capture the opportunity.

1. Millennials are entitled.4. Millennials don't respect authority.
2. Millennials are lazy5. Millennials just want to have fun.
3. Millennials are always on their phones.6. Millennials think they know better.

Click HERE to learn more about the solutions recommended by Kristin. By following the solutions to appealing to Millennial homebuyers, you will increase the likelihood of referrals, positive customer reviews and loyal customers. 

Here are additional articles related to the Mortgage Industry you may enjoy: 
7 Coaching Steps: Avoid These Pitfalls at Your Community Bank
by Paul Robert, CCO for FI Strategies, LLC

A great lesson I've learned over the years is that coaches and leaders need to deploy grassroots, day-to-day strategies to be successful.

Following are six tactical issues ("pitfalls", if you will) that prevent coaches from being optimally successful. These issues require particular attention with each employee and may require you to dedicate extra effort, especially in the near term. However, long term, addressing each issue will position you the greater, sustained coaching success so many desire.
  1. Your employees don't know what you want them to accomplish.
  2. Once you've clarified what the goal is, now a good coach needs to show each employee how they should go about accomplishing their goal.
  3. Many times, a coach fails to properly motivate employees to be successful.
  4. An inhibitor to success for many employees is the physical environment in which they work.
  5. Once you've done the first four items, it becomes the coach's responsibility to observe performance and provide feedback.
  6. By far, the most challenging pitfall is the realization that you have employees in the wrong positions; you're expecting certain employees to do something they will never be able to accomplish.

In a nutshell, a coach's job is to get each staff member to be more than they have been in the past. To see what they need to do and how they need to do it to take their performance to much higher levels. Avoiding the pitfalls above will help you take your staff to where you and your bank need them to be. Click HERE to gain more insights into how to overcome these coaching pitfalls.
Abundance of Resources Available to You On Our Website

Have you visited the Virginia Title Center website lately? There is an abundance of information available to you -- links to a host of industry related websites, the new ALTA Settlement Statements, Rate Calculators, Forms, past issues of our e-news, webinars and more!

Take a tour! Visit the Useful Links page, Meet the Team, view past Webinars ....
5 Things You Didn't Learn
in Real Estate Class

The courses you took to get your license probably didn't cover these common pitfalls. Here, we'll teach you how to be better prepared.
by Mary Beth Klatt

Once you've obtained your real estate license and you're actually in the field, you'll probably have many moments when you say to yourself, "Why didn't I learn that in class before I started?"

We asked a few real estate professionals what they wish they learned when getting their license and how they handled the situations. Here are the top 5:

1. Guiding Lowball Offers
2. Don't Automatically Accept 'As Is'
3. Ask for a Better Mentor
4. Don't Get Burnt Out
5. Exclusions in the Sales Contract

Click HERE to read more about each of these problems and suggested solutions.

Here are additional articles related to Realtors� and 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.**

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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