For better viewing, please download images embedded in newsletter.
January 2016
Title Notes E-News

Stay connected with us:  
6 Strategies for Building Teams that Go the Distance
by Amy Franko, Founder & CEO,
Impact Instruction Group

If your organization is like most, you've developed some big goals for 2016. You want to go farther, accomplish more objectives faster and increase your revenues. The list goes on. But how will you get there?
 
Together, and by strategically building teams that go the distance.
 
True, long-term success comes from teamwork, not from individuals alone. This African proverb sums it up well:
 

1.  Define and document what teamwork
     looks like.
4.  Encourage team members to take the initiative
     in collaborating with one another.
2.  Determine individual roles and      
     responsibilities.
5.  Recognize and reinforce performance behaviors
     you want to see, and compassionately confront
     those you don't.
3.  Create and regularly use a professional
     development plan.
6.  Reward individual AND team performance.
 
Click HERE to read more details about how you can build a team that will go the distance.
__________________________________________________________________________
Industry Hot Topic: (TRID) 
TILA/RESPA Integrated Disclosures - PART XI

Why TRID is Far Worse Than Anyone Thought
by Ben Lane
 
To get an understanding for just how far apart the CFPB's opinion of TRID is from the industry itself, especially away from Wall Street, HousingWire conducted a series of interviews with community lenders about how TRID is impacting their business. And the news isn't good.

"People are all having the same issues," Welch said. "We're all just in a big boat trying to get to the end result, which is closing the loan, and it is very difficult right now."

Welch, who is an executive vice president at Equity Resources, told HousingWire that the impact of TRID is far worse than anyone thought - and far worse than anything that has happened to the mortgage business in her more than two decades in the industry. Click HERE to read the entire article.
_______________________________________________________________________
 
10 Best Money Tips From Dave Ramsey
of All Time
by Elyssa Kirkham, Go Banking Rates
  
Dave Ramsey has gone from riches to rags and back again, and through it all he's developed a method of using common sense to manage money responsibly. His top money tip for 2016 is:
"Tell your money what to do instead of wondering where it went. People know what they need to do with their money, but they just don't do it. Be proactive with your money - do a budget, get rid of debt and save."
These highlights of Ramsey's best money tips are a great way to get you motivated to improve your personal finances this month and through 2016.

1. Make a Money Plan6.  Frugal Today, Wealthy Tomorrow
2. Find the Courage to Change7.  Work Hard to Get Free of Debt
3. Manage Your Money8.  Don't Borrow or Charge
4. Give Every Dollar a Name9.  Save for the Unexpected
5. Act Your Wage10. Invest in the Future

Click HERE to read the details of each of these tips.
_________________________________________________________________________

Here are a couple of additional articles you may enjoy:
 



Virginians May Sign Up for Emergency Contact Program at DMV
Customers list two people to be Contacted in an emergency

The Virginia Department of Motor Vehicles (DMV) is now registering customers for the commonwealth's Emergency Contact Program.
The Emergency Contact Program, which was authorized by the General Assembly in 2015, gives law enforcement a way to notify a participant's family or friends in the event of a serious crash or other emergency that leaves him or her unable to communicate.
The program is free and available to residents with a valid Virginia driver's license, identification card, learner's permit, commercial driver's license, or temporary driver's license. Participation is voluntary. Parents and guardians who would like to enroll a child under age 15 must first obtain a child ID card for their child.
Customers may list up to two emergency contacts. DMV will securely store the information and it will only be available for use by law enforcement in an emergency.
"Although we hope our customers never have to use it, we are pleased to be able to offer this service in the event that it may one day be helpful in an emergency situation," said DMV Commissioner Richard D. Holcomb, the Governor's Highway Safety Representative. "Before you are involved in a serious crash or other emergency, make sure law enforcement officers have the information they need to get a loved one by your side. Sign up today for Virginia's Emergency Contact Program."
DMV offers three ways to sign up or make changes to your emergency contact information:
  • Online: Visit dmvNOW.com
  • In person: Visit any DMV customer service center or DMV 2 Go mobile office
  • By mail: Send the completed form to Data Integrity Work Center, Virginia DMV, P.O. Box 27412, Richmond, VA 23269
What Keeps Bankers Awake
at Night
by Jonathan Rowe
 
It's no surprise that banking professionals are concerned about their future. From security scandals to regulatory and compliance concerns to heated debates about cloud technology, there are a variety of hot topics being analyzed, disputed and deliberated among bank executives and outside experts. So, what issues are significant enough to keep them up at night?
 
Based on recent conversions with industry professionals, bankers are worried about burdensome regulations, a dearth of young talent and the prospect of cloud­based regulatory audits.

Click HERE to read more about Jonathan's insights.
________________________________________________________________________

Here are additional articles related to Bank Leadership you may enjoy: 
Avoiding Potential Pitfalls With Title Insurance
by Melody Juge
 
The main reason for placing real property in a trust is for the benefit of passing the property directly to your designated beneficiaries without going through the time and expense of probate. Transferring and holding property in a trust is a common estate-planning technique however, this action may jeopardize the original purchase of your title insurance.

If you have deeded your home or other real property to a revocable trust, check to see if you can find the title insurance policy that was issued at the time of the original purchase, and check to see if that company is still in business.

Recently a client of mine was notified of some complication regarding the inheritance of a family residence upon the death of his father. What went wrong? The property was held in a revocable trust, and it turned out that there was a problem regarding the clearing of the title that the trustees were unaware of. Much to their surprise, the title insurance company had denied coverage of the property to the trust.
 
Title insurance is important, its purpose is to compensate for losses that may result from errors the title company made when it researched your title originally, such as undiscovered liens, boundary disputes or easements. Click HERE to read more about how to avoid pitfalls with title insurance and trusts.
______________________________________________________________________
 
Here is an additional article related to Title Insurance you may enjoy: 
Community Banks Will Own the
Next Decade, If...
by Jay Kassing, MARQUIS

There are only 3 things Community Banks must do to own the next decade in financial services. Everyone knows what they are, but it seems that few have the stomach to execute them... sigh.

Community Banks will own the decade ahead if they have:
  1. An obvious, meaningful and unique brand value.
  2. Product and service delivery from anywhere, anytime.
  3. A shared Passion for Excellence among leadership and staff.
These are the obvious, chunky, hairy community bank difference-making ideas. Of course, there are many smaller and extremely important components that I am sure you can shout out. But without these 3 key elements, nothing will change.

I would argue that the first idea is the most important. At the very least, your decisions for the future should be viewed through the lens of these 3 ideas. Manage to these goals and your bank will own the next decade! Click HERE to learn more about the concepts recommended by Jay.
________________________________________________________________________

Here are additional articles related to Community Banks you may enjoy: 
Community Lenders Are Essential to the Future of Mortgage Banking
by Wes Miller

It goes without saying that data is important in determining a borrower's ability to repay. W-2's, paycheck stubs, application information, etc., are all essential pieces of information when putting together a mortgage loan.

Yet these pieces of paper are just individual, incomplete snapshots of the applicant's overall character. While they are hard facts, they can be misleading when gathered without sufficient background information on the person.

A community lender has access to more than just data on the loan applicant-they have a strong foundation of information built on years of knowing that person. Done appropriately, a judgment-based loan takes into consideration the borrower's complete profile. Such judgment-based loans are a crucial service to local communities.

We've relied, as a nation, on local lenders making loans that help people achieve the American dream of homeownership. That type of loan is now in jeopardy. There should be judgment in lending, and community lenders have serviced that role very well since the beginning of banking.
It would be a shame if community lenders were pushed out of the mortgage sphere. Click HERE to read the entire article.
_____________________________________________________________________________
7 Non-Negotiables For Your
Real Estate Marketing Plan
Your potential is dependent on your level of preparation
by Jordan Scheltgen

Not planning is planning to fail. It's that simple.

So for 2016, it's crucial that real estate agents and brokerages have a marketing plan. In this article, I'll go over seven must-haves when it comes to promoting your business. Although there are many other things out there, these items are based on my personal experience working with both agents and large brokerages in developing marketing plans.

1. Set a budget5. Get a little boost from a paid social
2. Define your ideal customer6. Set goals
3. Adopt a mobile strategy7. Define how you will measure success
4. Develop a cross-platform social media planClick HERE to get the details of Jordan's marketing plan.
__________________________________________________________________________

Here are additional articles related to Realtors® and Real Estate Trends you may enjoy:
Abundance of Resources Available to You On Our Website

Have you visited the Bankers Title 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, view past Webinars ....

 

**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?

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 Hot Topics would you like to receive greater insights and clarity? Send Robyn your thoughts.
Robyn Parker
Vice President
Bankers Title, LLC
9011 Arboretum Parkway, Suite 110
Richmond, VA 23236
Phone  (800) 830-1414
Fax  (804)-560-7202
www.bankerstitle.com
Bankers Title, LLC
4804 Courthouse Street, Suite 2B
Williamsburg, VA 23188
Phone (757) 645-9327
Fax (757) 476-7415 

Integrity. Security. Excellence.

Since 1994, we have provided market-leading title insurance and settlement solutions with uncompromising commitment to integrity, financial stability, and excellence in all that we do.