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June 2016
Title Notes E-News

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Finding Your Formula For Leading Others
by Jeff Smith, Founder and CEO, Voltage Leadership Consulting

Congratulations:  you are a leader who sets the course for your organization.  Wow, that's fantastic, but do you feel that you are the only one who cares about the organization?  Why do others look like they are just doing a job?  Fear not!  We have ideas on how to provide a SPARK! for others to become more motivated and engaged in your organization.
 
S - See It and Say It
You must know where you are going for others to buy into your dream.  Joel Barker says, "Vision with action is a dream.  Action without vision is simply passing the time.  Action with Vision is making a positive difference."
 
Click HERE to enjoy Jeff's ideas to SPARK some new ways of thinking for you and help you provide a jolt of energy into your organization.
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Six Leadership Obstacles to Team Success
by Lee Ellis, Freedom Star Media

The plane had drifted off course by 200 miles, but the pilot didn't know how it got there! He started out with the proper heading and course, and began the journey confident that he was ready to fly. Now he's thinking, "If only I had a co-pilot or voice guidance system alerting me along the way, I would've saved a lot of time and fuel (money)."
 
For many leaders, this scenario makes perfect sense, yet the need for an accountability culture at work is not always accepted. We want the positive elements of success-achievement, notoriety, money, and excellence for clients and customers. But we're unwilling to do the right things to get there.
 
Click HERE to read Lee's insights into the 6 Obstacles to Courageous Accountability -- then reflect on these 6 obstacles, and see if you can identify your weak spots.
 
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Industry Hot Topic: (TRID) TILA/RESPA Integrated Disclosures - PART XV

A few recent articles for your reference:
Operations Corner

Exceeding your service expectations is one of our primary goals at Bankers Title. In an effort to ensure a smooth transaction, we recommend that you include the following items when placing your order:
  1. Borrower's full name
  2. Name of property owner if different from borrower
  3. Customer's preferred contact information
  4. Full property description
  5. Anticipated closing date
  6. Copy of loan statements to be paid off with proceeds (if BT is handling settlement)
  7. Copy of HOI declaration page or agent name (if BT handling settlement)
  8. Lender instructions and/or customer commitment letter
  9. Copy of the sales contract, if the transaction is a purchase
  10. Previous title policy on the property, all companies are accepted for reissue
Education and Training

Bankers Title offered a free "Title Basics" seminar on Thursday, May 19th, 2016, to a packed house! We would like to thank the VBA for providing the location and beautiful facilities. We were excited to be able to reach such a broad audience and footprint. Attendees traveled from Elizabeth City, South Hill, Windsor, Amelia and locally from the Tri-Cities. Keep watching the newsletter for more training opportunities.
 
Just a few testimonials from attendees...

Hi Robyn -- Such a great class this morning! Thanks for having us!!
~ Village Bank
 
Hi Robyn -- I really enjoyed your presentation today on Title Insurance. You were funny,
very entertaining and educational. Normally I would be the one who would be nodding, but
you kept it very interesting. Thank you.
~ Union Bank & Trust
 
Hey Robyn --Just wanted to tell you that I really enjoyed the seminar yesterday! You did a
great job and I hope to attend more in the future!
~ Citizens Community Bank
 
I wanted to do a quick follow up to let you know that the staff got a great deal out of the
presentation.  Thanks again for hosting!
~ Essex Bank
Staffing News

Bankers Title is delighted to welcome a new member to the Bankers Title Team.

Vicky Carter joined our team this month as a Settlement Processor, she is looking forward to working with our clients to ensure smooth worry free settlement transactions. Vicky lives in Chesterfield County with her husband of 31 years. She previously lived in Yorktown, Virginia where she was a successful real estate agent for 13 years.

Vicky comes to us with many years of experience in the real estate industry and has a strong background in providing excellent customer service. She enjoys traveling, gardening and spending time with her family. Vicky's husband and daughter are both retired US Airforce.

We hope you will reach out and welcome Vicky to our organization. You can reach Vicky by e-mail at vcarter@bankerstitle.com or by phone at 804-560-7655.
Community Corner

On May 4, 2016 Bankers Title was pleased to be one of the sponsors of the Gloucester County Floodplain Workshop which was conducted at the Virginia Institute of Marine Science at Gloucester Point in Gloucester County. The workshop, a Gloucester County Floodplain Management Planning Committee's Program for Public Information (PPI) team effort, was an informative session geared towards Real Estate professionals and included topics such as changes in the National Flood Insurance Program, Sea Level Rise, New Flood Elevation Certificates, Flood Hazard Mitigation and Grant Funding.

Gloucester County adopted a Floodplain Management plan on September 1, 2009, as a way to analyze the causes of flooding in Gloucester County and identify areas vulnerable to flooding within the community. Gloucester participates in the FEMA Community Rating System (CRS) and the Floodplain Management Committee is made up of members of the community and county staff members. The committee meets quarterly to discuss adoption of best management practices and explore feasible solutions to strengthen the county's flood management system and to educate residents in the floodplain on ways to lessen damage caused by flooding. Participation in the Community Rating System has given the residents of Gloucester a 15% reduction in their flood insurance premiums and the committee is continuing to revise the Floodplain Management Plan and make recommendations to secure additional reductions for citizens living in the floodplain.

The link to the FEMA Flood Map Service Center is a useful tool for all Real Estate Professionals.

Flooding can happen anytime, anywhere, and as we approach hurricane season we encourage everyone to take some time to prepare for emergencies. HERE is a link to another resource for disaster preparedness.

Many thanks to Paul Koll, Gloucester County Building Official, Celeste DeSimone, CFM and Ken Evans of Ken Evans Allstate for putting together the informative session and dynamic speakers. The session was well attended and informative. Please feel free to visit the Gloucester County Emergency Management web page for additional resources and visit your local Emergency Management sites for information specific to your jurisdictions. 
Investors Title Recognized as Top 25 Best-Run NC Public Companies
 
Investors Title is ranked as one of the top 25 best-run public companies in North Carolina by the Triangle Business Journal. To determine the list, a team of Triangle Business Journal researchers and the Kenan Institute of Private Enterprise at UNC Chapel Hill evaluated several factors including stock return, employee growth, operational efficiency, and revenue growth. In stock return, for example, the Company ranked 10th overall and 3rd in the Triangle area with a 37.89% increase in stock price from Jan. 1 to Dec. 31, 2015. Compared to Triangle area performers, Investors Title ranked 11th overall and placed 3rd and 6th in return on assets and return on equity, respectively.

Bankers Title is proud to underwrite exclusively through Investors Title. 
What Do Community Banks and a Renaissance Politician Have in Common?
by Damien Hayes, Saylent Technologies

Niccolo Machiavelli once wrote, "Never waste the opportunity offered by a good crisis." He was, of course, talking about early 1500's politics and not community banks. That said, perhaps there is some applicable wisdom that we can glean from those words.

As you may have heard, the financial markets have absolutely no idea when rates will rise. Back in February the Federal Reserve didn't raise rates and announced they wanted their annual stress tests to include negative rates on the 3-month bill for a prolonged amount of time. This lead a lot of folks to speculate that it may be a long stretch before rates rise. However, now there is speculation of a hike in June. Who knows?

And if that's not enough to make you grab a second cup of coffee, the CFPB has spent the last few months wagging their finger at banks and credit unions regarding overdrafts. The message: Start offering lower-risk deposit products to help consumers avoid overdrafts or... or... Or else!

Click HERE to learn about The Good News, The Bad News and The Opportunity.
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Here are additional articles related to Community Banking you may enjoy: 
Next Major Issue Lenders Need to Tackle: Cybersecurity
Mortgage lending presents a ripe target for cyber attackers
by Brena Swanson
 
First-time parents trying to finally find a place to call their own, young Millennials looking to make their first big investment or grandparents wanting to finally relax after working hard for years - all these people are entrusting you with their personal data.
Don't take this responsibility lightly.

If you're looking at your information security team right now and thinking, "That's okay, I've got my bases covered," you don't.

Click HERE to read more.
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Here are additional articles related to Mortgage Lending you may enjoy: 
Small Business Lending: 
Partnering Your Way To The Top
by Brian Graham

Small business (SB) lending is a large and yet still underserved market in which community banks are generally well positioned to compete ...... the lending market is undergoing a transformation driven by technology and new competition that is rapidly increasing the investment and scale necessary to compete.......since many community banks lack the resources to build or buy a technology platform on their own, the emergence of fintech lenders who can partner with community banks provides a new and attractive option for community banks to serve these important SB customers and to gain market share...... community banks should assess the extent to which a collaborative approach may offer benefits of collective scale, expertise and efficiency in a controlled and compliant manner. They may just find that the benefits readily outweigh the risks, and that fintech offers a powerful opportunity for community banks to regain share in a number of product lines that have come to be dominated by the largest banks Click HERE read the entire article.
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Here are additional articles related to Commercial Lending you may enjoy: 
How to beat out other homebuyers when there is no inventory
Here's how to stand out

It's an extremely tough market out there for potential homebuyers right now. The hand dealt to you contains very little inventory, outrageous home prices and tight access to credit.

Given these circumstances, every little thing that you can do to push your name to the top of the seller's list is pivotal.

Lisa Ford, Secretary of the Orlando Regional Realtor Association, provided a very thorough list for how buyers can beat the competition, especially when there is barely any inventory.

She breaks the tips into three categories: Preparation, making the offer and standing out. Click HERE to read the details.
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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.**

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
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.