Free Webinar on upcoming challenges and how to Adapt

Tuesday, December 17, 2013
2:00 p.m. EST – 3:00 p.m. EST (11:00 a.m. PST — 12:00 p.m. PST)
No cost to register.
Join us for a webinar presentation which frames the changes about to affect your agency, and provides ways you can adapt right now.
Moderators:

Rick Diamond, Vice President of I.T., Agency Operations, WFG National Title Insurance Company

Charles Cain, SVP, Agency, Midwest, WFG National Title Insurance Company

What your agency did to be successful in the past will likely not be enough to succeed in 2014 and beyond.  Regulatory changes, market shifts and new client demands all mean that title agents will have to reconsider the way they do business…and soon.   On December 17, join us to consider some of the new challenges emerging for title agents as well as two real solutions available to WFG agents. 

• How does your agency ensure data security as will be required by the CFPB and your lending clients?  To what extent does your e-mail need to be encrypted?  Is your firewall adequate?  How secure is your network, and is that secure enough?


• Will your methods for ensuring data integrity—especially where inaccurate data could negatively affect closing tolerance–meet the standards required by your lenders?


• How does an agent undertake the very real operational changes that will be required by lenders, underwriters and enforcement agencies while maintaining his or her margins?


• Are your settlement, closing and even recording procedures in line with new consumer protection requirements?

 

This is a free webinar open to title agents, settlement services professionals, real estate attorneys and industry executives who take their operations practices and compliance strategies seriously.   Expect future seminars on topics of interest to you from WFG National Title Insurance Company, a partner and trusted resource for title agents nationwide.
Click here to register.
The Title Advisor series is a webinar series provided as a complimentary resource for agents and partners of WFG National Title Insurance Company.  Each month, WFG will provide top experts to discuss subjects of relevance for title agents and settlement services providers:

• Growth Strategies:  Revenue streams, product strategy, marketing and sales


• Market Trends:  Big picture overview of the industry and market strategy


• Compliance Trends:  Legislative, regulatory and litigation updates and tools for compliance


• Production and Ops Practices:  Technology, streamlining efficiencies, general operations and strategies for improving production and delivery of product


• Title 101:  Basic training for entry and mid-level title professionals.


• Town Hall:  Tell us what’s on your mind. How can we be of service, and what issues can we help you face?

 

To learn more about WFG National Title, or to learn about future installments of The Title Advisor Series, go to www.WFGNationalTitle.com.

Free Webinar on upcoming challenges and how to Adapt

Danealle Marshall joins Cloudstar

Cloudstar, the leading provider of security, compliance, and cloud technology systems for the land title industry, is pleased to announce that Danealle Marshall has joined the organization as a Strategic Account Manager.  She brings with her 15 years of consulting, sales and training experience in the land title industry, delivering responsive service, industry expertise, and strong client advocacy.  Prior to joining Cloudstar, Danealle held positions with Digital Risk, Entrust Solutions, Land America, and other well-known industry players.

Cloudstar is very excited to have Danealle on board.  She is very passionate about our industry and serving the needs of title agents, said Gregory McDonald, CEO of Cloudstar.

As a second generation member of the title insurance industry, Danealle thrives on being a knowledge source to clients and colleagues and brings with her the ability to analyze, anticipate needs, and provide expert guidance on compliance and technology solutions for title agents and real estate professionals.

“I am grateful for the opportunity to contribute to the Cloudstar team as a catalyst for Change.  It is currently sink or swim for many title industry professionals, who need to quickly adopt technological solutions and industry best practices in order to stay afloat and compete in a heavily regulated marketplace,” Marshall states.

Danealle is actively engaged with multi-generational clients and colleagues and is a contributing member of real estate, mortgage and title industry associations.

Danealle Marshall joins Cloudstar

Echoworx Corporation Announces Partnership with Cloudstar to Provide OneWorld Email Encryption Solutions to Cloudstar Customers - Yahoo Finance

From Yahoo finance

TORONTO, ONTARIO–Marketwired – Nov 7, 2013 – Echoworx Corporation www.echoworx.com, the leading provider of email encryption and managed encryption solutions, today announced that it has partnered with Cloudstar http://mycloudstar.com, a national provider of best practice, compliance and advanced technology systems for the Land Title Insurance industry, to provide email encryption solutions to Cloudstar customers leveraging the OneWorld Email Encryption platform. Following the integration of Echoworx OneWorld, Cloudstar will begin offering encryption solutions to their customers before the end of Q4 Calendar Year 2013.

via Echoworx Corporation Announces Partnership with Cloudstar to Provide OneWorld Email Encryption Solutions to Cloudstar Customers – Yahoo Finance.

Echoworx Corporation Announces Partnership with Cloudstar to Provide OneWorld Email Encryption Solutions to Cloudstar Customers - Yahoo Finance

Emerging Settlement Best Practice (CFPB)

Click Here to Enroll

This is no secret: The Consumer Finance Protection Board (“CFPB”) has been and will continue to promulgate increasingly tight compliance rules for lenders as well as the settlement industry. This is not only a predictable trend towards transparency-oriented records/corporate compliance a la Sarbanes/Oxley but more recently the passage of Dodd-Frank designed to bind and keep lenders (especially) in line with sound lending practices.

As we all know, these compliance systems and practices are also designed to protect all of us—the consumer and the title companies– against the incredible and growing amount of fraud in the title industry. That issue, of course, provides enough material for another seminar entirely. For now, we’ll focus on these “best practices,” which ALTA developed and published, in part, to establish a “benchmark” for the mortgage and real estate settlement industry. In developing these best practices, ALTA seeks to guide its membership the best procedures to protect consumers, promote quality service, provide for ongoing employee training and meet both legal and market demands.

We’ll first review ALTA’s Best Practices (Fall 2012) in some detail and conclude by discussing how you can improve your business not only through compliance (“best practices”) but through outreach and education programs for your REALTOR®s and loan officers. The work of bringing transactions together has always been, and perhaps now more than ever, the result of the cooperative and effective work of many team players in the real estate industry. As always, the need for excellent professional relationships too couldn’t be higher.

Expert

Ann L. Johnston, Esq.
admin@learntitle.com

Ann is an attorney and a REALTOR® with over 26 years of experience in law practice (including especially insurance defense and risk management issues), title law and the real estate sales industry. She is licensed as a settlement agent and real estate salesperson in Virginia and as an attorney in the District of Columbia and North Carolina. Ann is currently working as Director of Professional Development at Monarch Title in McLean. She most recently served as Assistant General Counsel for Long & Foster Real Estate, Inc. for almost 6 years where she developed a wide range of business and legal expertise pertaining to the practice of real estate professionals. She earned both her BA in English and her Juris Doctor from the University of North Carolina at Chapel Hill.

Click Here to Enroll

Emerging Settlement Best Practice (CFPB)

Mers, The Core Concepts

1 Credit

This course will explain MERS, its uniqueness in the lending industry and will address many of the misunderstandings about MERS. Mike Skalka will discuss the business model, the corporate structure, the MERS System, the benefits to the lending and title insurance industries, the general litigation concerns as noted in the press, and various regulatory and legislative issues.

Expert

Mike Skalka

admin@learntitle.com

MERSCORP Holdings, which operates an electronic registry of mortgage loan servicing rights and ownership on behalf of the lending industry, is presently addressing the challenging issues associated with foreclosures and mortgage record holding – areas in which Mr. Skalka’s background and knowledge is uniquely suited. 

Mr. Skalka joined Stewart Title in 1988 as the founding president of Stewart Title Insurance Company, domesticated in New York. Shortly thereafter, in the early 1990s, he helped establish Stewart’s operations in Canada and theUnited Kingdom, and then relocated from New York to Houston, in 1993, to serve as Executive Vice President and General Counsel of the Stewart Organization until 2005.

As Stewart continued to seek opportunities outside of the U.S., Mr. Skalka led those efforts by becoming Chairman of Stewart’s International Group in 2005. In 2007, he became the first person outside of the Morris and Stewart families to be appointed President and Managing Director of Global Underwriting Services of Stewart Title Guaranty Company, where he remains a member of its Board of Directors. Mr. Skalka had also helped to lead the National Title Services Division of Stewart since 2009.

With his more than 35 years in the title and real estate industries, Mr. Skalka has established himself as an admired member of the real estate community. He has had the honor to be appointed to the Board of Governors of the American Land Title Association^®, as well as to serve upon its various committees; and, is a past President of the New York State Land Title Association.

In the spring of 2007, the Houston Chronicle published a feature article about Mr. Skalka and his international activities on behalf of the Stewart Organization.  He also has been quoted in Continental Airlines Magazine concerning the real estate market in Latin America.  Mr. Skalka has spoken before numerous bar association, land title association, and related industry functions throughout the United States and England and has had articles published by the Bank Lending Institute, the New York Law Journal, the Practicing Law Institute and the National Register of Commercial Real Estate.

Mers, The Core Concepts

Real Estate Settlement and Procedures Act

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Estimated Length: 3 hours Cost: $55.00 (USD) Credits: 3 Enrollment Valid For: 1 year

Description

Real Estate Settlement and Procedures Act

Comprehensive coverage of the RESPA including Regulation X, the GFE, and the HUD-1

Expert

Vince Danzi

vincentdanzi@yahoo.com

Vincent G. Danzi graduated from the University of Texas at Austin with a Bachelor’s degree in History in 1995 and earned his law degree in 2000 from the State University of New York at Buffalo.  Prior to law school, he was a Licensure Investigator for the Texas State Board of Medical Examiners.  Since law school, he has worked in the title insurance and settlement services industry.  He serves as General Counsel for Equity Settlement Services, Inc., a national title and settlement services provider, which offers a wide range of services across a thirty-five state footprint.  Outside this role, his practice includes business legal representation, consulting, and serving in an of-counsel and outside expert capacity on RESPA and other compliance and title insurance issues.  In accord with his enduring devotion to computer programming, he is also a database application and user interface developer.  He lectures, writes, and otherwise contributes to the publications and seminars of such organizations as The New York State Land Title Association, the Title Appraisal Vendor Management Association, October Research, The New York State and Suffolk County Bar Associations, and is a member of the Editorial Advisory Board of October Research’s The Legal Description, the nation’s leading legislative and legal analysis newsletter for the title insurance and settlement services industry.  Mr. Danzi was a featured speaker at the 2011 National Settlement Services & Compliance Summit in Cleveland, Ohio, at which he spoke on best practices for the title insurance industry

Real Estate Settlement and Procedures Act

Easements - Defined and Illustrated

Easements – Defined and Illustrated

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Estimated Length: 2 hours and 40 minutes Cost: $55.00 (USD) Credits: 3 Enrollment Valid For: 12 months

Description

3 credits – Easements – Defined and Illustrated

Expert

Wendy Lathrop

w-lathrop@usa.net

Wendy Lathrop, PLS, CFM is president and owner of Cadastral Consulting, LLC, licensed as a Professional Land Surveyor in New Jersey, Pennsylvania, Delaware, and Maryland, and as a Professional Planner in New Jersey. She is also a Certified Floodplain Manager (CFM) through the Association of State Flood Plain Managers.  Wendy has been involved since 1974 in surveying projects ranging from construction to boundary to environmental land use disputes. She has been teaching seminars for surveyors across the country since 1986 and has been writing articles for surveyors since 1983.  Wendy is a contributing editor for The American Surveyor magazine, and has two articles included in the American Bar Association’s text, “Land Surveys: A Guide for Lawyers and Other Professionals.”

Easements - Defined and Illustrated

New Jersey Rate Manual(effective 04/2013)

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Cost: $55.00 (USD) Credits: 3 Enrollment Valid For: 12 months

Description

3 Credits.  New Jersey Rate Manual

Includes new rates (effective 04/2013)

New Jersey Rate Manual(effective 04/2013)

Ethics in Title Insurance

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Estimated Length: 3 hours Cost: $55.00 (USD) Credits: 3 Enrollment Valid For: 12 months

Description

Ethics in Title Insurance

This course discusses the Alta Consumer Initiative, The Alta Principles of Fair Conduct, and the New Jersey Land Title Association Code of Ethics.  It also takes a look at confronting temptation and customer pressure and it includes tools to use to make decisions.

Ethics in Title Insurance

Surveys and Descriptions

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Estimated Length: 3 hours Cost: $55.00 (USD) Credits: 3 Enrollment Valid For: 12 months

Description

3 Credits.  Surveys and Descriptions

Surveying or land surveying is the technique and science of accurately determining the terrestrial or three-dimensional position of points and the distances and angles between them. These points are usually on the surface of the Earth, and they are often used to establish land maps and boundaries for ownership or governmental purposes.  For purposes of Title, they are used in the “Description”.

To accomplish their objective, surveyors use elements of geometry, engineering, trigonometry, mathematics, physics, and law.

This course discusses surveys and descriptions and their relationship the title insurance.

Surveys and Descriptions

Riparian and Other Water Issues in Title

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Estimated Length: 3 hours Cost: $60.00 (USD) Credits: 3 Enrollment Valid For: 12 months

Description

3 Credits.  Riparian and Other Water Issues in Title

Riparian and Other Water Issues in Title

Social media blueprint for title professionals | News | The Legal Description

Title professionals know social media is out there and most know they should be utilizing it in some way to benefit their business and their customer relations. But how and with what goal? With so many options and no plan to incorporate it into daily business operations, one could easily get lost in the online world of posting, liking, following, endorsing, commenting, blogging and tweeting.On Thursday, Sept. 12 at 2 p.m. ET, The Title Report and sponsor North American Title Insurance Co. are offering an exclusive 90-minute webinar, Social Media 2.0: Your Blueprint for Online Marketing Success, to train title insurance professionals on how to take their social marketing to the next level. Two social media experts will instruct on the social sites title professionals should be using, their practical applications and how to effectively build trust among clients to form stronger business relations.

via Social media blueprint for title professionals | News | The Legal Description.

Social media blueprint for title professionals | News | The Legal Description

Judgments, Liens, and Encumbrances

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Estimated Length: 3 hours Cost: $60.00 (USD) Credits: 3 Enrollment Valid For: 12 months

Description

3 Credits.   A comprehensive discussion of judgments, liens and encumbrances that effect title.

Judgments, Liens, and Encumbrances

First Ever Digitally Notarized Deed Uses SIGNiX Digital Signatures

Web conferencing and secure digital signatures used to electronically notarize property deed for American couple living in France.

via First Ever Digitally Notarized Deed Uses SIGNiX Digital Signatures.

First Ever Digitally Notarized Deed Uses SIGNiX Digital Signatures

White House reports on recommended incentives for adopting cybersecurity framework - Lexology

The White House recently issued a report outlining potential incentives that may be available to companies that adopt the voluntary cybersecurity framework currently being developed by the National Institute of Standards and Technology the “Framework”. Both the incentives program and the Framework are being developed pursuant to the February executive order aimed at improving the cybersecurity of America’s critical infrastructure

via White House reports on recommended incentives for adopting cybersecurity framework – Lexology.

White House reports on recommended incentives for adopting cybersecurity framework - Lexology

Fraud Alert: The Latest Schemes Haunting Title Companies - Webinar

Join your colleagues and the staff of The Title Report for a 90-minute webinar presentation titled, Fraud Alert: The Latest Schemes Haunting Title Companies. Sponsored by RynohLive, the webinar features two leading security technology experts — David Jevans, of Marble Security, and Gregory McDonald, of Cloudstar Consulting Corp. — who will educate participants on:

• The latest fraud schemes penetrating the industry;


• Transactional fraud red flags;


• 
  Meeting best practices for an effective security program; and


• The human element of fraud and fraudster trickery.

Participants will have an opportunity to ask questions and will receive the full PowerPoint presentation following the live event, along with related feature articles from October Research, LLC publications. Thanks to webinar presenting sponsor RynohLive, The Title Report is offering this training course at a discounted price! Register for a live site and have your entire staff listen in and/or order the recording and view the Webinar at your earliest convenience.

Register here for the Fraud Alert webinar or call (330) 659-6101, ext. 6611.

Fraud Alert: The Latest Schemes Haunting Title Companies - Webinar

Fraud Alert: The Latest Schemes Haunting Title Companies - Webinar

Join your colleagues and the staff of The Title Report for a 90-minute webinar presentation titled, Fraud Alert: The Latest Schemes Haunting Title Companies. Sponsored by RynohLive, the webinar features two leading security technology experts — David Jevans, of Marble Security, and Gregory McDonald, of Cloudstar Consulting Corp. — who will educate participants on:

• The latest fraud schemes penetrating the industry;


• Transactional fraud red flags;


• 
  Meeting best practices for an effective security program; and


• The human element of fraud and fraudster trickery.

Participants will have an opportunity to ask questions and will receive the full PowerPoint presentation following the live event, along with related feature articles from October Research, LLC publications. Thanks to webinar presenting sponsor RynohLive, The Title Report is offering this training course at a discounted price! Register for a live site and have your entire staff listen in and/or order the recording and view the Webinar at your earliest convenience.

Register here for the Fraud Alert webinar or call (330) 659-6101, ext. 6611.

Fraud Alert: The Latest Schemes Haunting Title Companies - Webinar

Bankruptcy and Foreclosure Issues in Title

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Estimated Length: 3 hours Cost: $55.00 (USD) Credits: 3 Enrollment Valid For: 12 months

Description

3 Credits. If homeowners hold title to real property while under the protection of the Bankruptcy Court or are going through a foreclosure process and are looking to sell or refinance their property, certain underwriting requirements must be met in order to insure the transaction. This course discusses the issues surrounding bankruptcy and foreclosures and the relationship they have to title insurance

Bankruptcy and Foreclosure Issues in Title

Cyber or Data Breach Insurance

Do you have insurance in case the confidential information you keep is breached or in some way hacked?  Here is an article that discusses the need for coverage given the “explosion of access to and transmission of confidential data”  Click Here to read the article.

I asked Greg McDonald of Cloudstar Consulting if he advises his clients to purchase this kind of coverage.  Cloudstar specializes in technology solutions for title companies.  He said “there is a debate over how effective these types of policies are” A couple trends he sees are that this kind of coverage is mostly considered in bigger companies(150 – 300 agents) and they are usually run by boards and not individuals.  What do you think.  Is it time to consider data breach insurance.  Are you confident you have the right procedures in place to prevent cyber attacks?  Will this be part of the Risk Management and Risk Assessment that the CFPB may be asking of title companies?  What do you think?

Cyber or Data Breach Insurance

Basic Reading

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OPEN	Estimated Length: 3 hours Cost: $55.00 (USD) Credits: 3 Enrollment Valid For: 12 months

Description

3 Credits.  This course discusses the basic function of a title reader. Another course addressed the function of title searchers in the twenty one county record rooms in the State of New Jersey. The title office or agent will order the necessary searches required by a title application in accordance with the title underwriter’s guidelines.

The course discusses the elements of the search, the preparation of the commitment, and the factors that must be considered to insure the transaction.

Objectives

Upon completion of this course the learner will

• be able to list the elements of a search


• be able to prepare a completed commitment


• be able to identify common defects in title


• recognize liens and encumbrances associated with titles

Basic Reading

Xerox scanners alter numbers in scanned documents | ZDNet

As if we don’t have enough to think about . . .

When set in the non-default ‘Normal’ image quality mode, some Xerox scanners and photocopiers may change characters, including numerals, in scanned documents. The initial finding of this problem was made earlier today by German researcher D. Kriesel. Kriesel demonstrated that on a Xerox WorkCentre models 7535 and 7556 scans of certain documents with numbers in them resulted in the numbers being different in the paper and scanned image.

via Xerox scanners alter numbers in scanned documents | ZDNet.

Xerox scanners alter numbers in scanned documents | ZDNet

Veri-Tax Announces Integrations With Seven Mortgage Technology Providers | NEWS.GNOM.ES

Veri-Tax, LLC, the leading provider of verification and fraud management products, has recently integrated IRS income verification Form 4506-T and social security number verifications with three of the industry’s leading mortgage technology solutions, namely Ellie Mae® Encompass360®, INTEGRA Software Systems’ Destiny/Epic and Valutrust Solutions, a Williston Financial Group company.

via Veri-Tax Announces Integrations With Seven Mortgage Technology Providers | NEWS.GNOM.ES.

Veri-Tax Announces Integrations With Seven Mortgage Technology Providers | NEWS.GNOM.ES

Supreme Court agrees with state regulators: Insurers responsible for agent"s illegal action

This is from  | The Politics Blog | The Olympian

Not sure if this is a first but it appears now underwriters will be liable for their agents RESPA violations.

The Washington Supreme Court sided with the state insurance regulators Thursday in a case involving a Kitsap County insurance agency, Land Title Co., that was a contracted agent for Chicago Title. The court said in a 6-to-2 decision that Chicago Title was liable for the illegal actions by its agent, which had given out inducements including Seattle Seahawks playoff tickets in its efforts to secure business referrals.

Read more here: http://www.theolympian.com/2013/08/01/2652198/supreme-court-agrees-with-state.html#storylink=cpy

Supreme Court agrees with state regulators: Insurers responsible for agent’s illegal action | The Politics Blog | The Olympian.

Supreme Court agrees with state regulators: Insurers responsible for agent"s illegal action

Regulatory Compliance Guidelines

Preparing to meet your regulatory compliance guidelines doesn’t need to be difficult.  Title agents, settlement service providers, and third party venders can pick and choose from any of the following assessment, implementation, and remediation services.

ALTA Best Practices Assessments | mycloudstar.com.

Regulatory Compliance Guidelines

Help TAN your office and WIN!

From the ALTA Linkedin Group

Group: American Land Title Association – ALTA Subject: Help TAN your office and WIN! During August, the Title Action Network (TAN) is challenging all TAN members to recruit ONE new Title Action Network member this month. Simply encourage your new recruit to visit www.titleactionnetwork.com and click “Join TAN” on the right side of the page. The TAN member who refers the most new TAN members from August 1 to August 31 will win a free 2014 ALTA Federal Conference Registration! Just make sure that your new TAN members type your name into the “who referred you to TAN” field on the entry form. Not a TAN member? Visit www.titleactionnetwork.com and join today to start recruiting! Is your office already at 100% TAN participation? Call an industry colleague and ask them to join today at www.titleactionnetwork.com. We need our entire industry to be involved in promoting the value of the land title industry to legislators and regulators. Recruiting at least one new TAN member this month will help reach that goal! Here are a few points to encourage your colleague(s) to join TAN today: - TAN is free & takes only 90 seconds to join! - TAN promotes the value of the land title industry to state and federal policymakers. - We don’t bog down your inbox & our action alerts are easy-to- understand. - We focus on issues that are important to you and your business. Come TAN with us. Encourage your colleagues to join today at www.titleactionnetwork.com. Posted By Wayne M. Stanley

Help TAN your office and WIN!

ALTA Best Practices Assessments

Implementing changes can be a daunting process.  While many in our industry mean well, they simply do not have the technical knowledge to ensure your title agency or settlement services company is secure. Good news! Cloudstar is here to help you with your ALTA Best Practices implementations.

ALTA Best Practices Assessments | mycloudstar.com.

ALTA Best Practices Assessments

ABA Dodd-Frank Tracker: House Panel Approves Hensarling Housing Bill

This bill is working its way through the legislature.

As passed, the bill would wind down Fannie Mae and Freddie Mac within five years, replace them with a “public utility” to oversee the creation and maintenance of a single platform for the private sale of mortgages and end all federal guarantees. It also would reduce the mortgage insurance coverage provided by the Federal Housing Administration to only 50% of the mortgage being insured and re-target the FHA to serve first-time and low-income homebuyers.

ABA Dodd-Frank Tracker: House Panel Approves Hensarling Housing Bill.

What do you think the impact will be if this bill passes?

ABA Dodd-Frank Tracker: House Panel Approves Hensarling Housing Bill

Outlook brightens in national housing survey: NAR | HousingWire

The number of Americans who believe homeownership is a positive financial investment is on the rise, and a majority of renters now say homeownership is one of their highest priorities for the future — both indicators that the housing recovery may be taking off.

Outlook brightens in national housing survey: NAR | HousingWire.

Outlook brightens in national housing survey: NAR | HousingWire

Fraud Alert: The Latest Schemes Haunting Title Companies Webinar

There is no doubt fraudsters continue to penetrate businesses in the title insurance, mortgage and settlement services industries. And it can be tough to stay ahead of the many nefarious acts fraudsters use to steal funds, damage systems and threaten the very livelihood of businesses, whether they are small, medium or large corporate entities.

Fraud Alert: The Latest Schemes Haunting Title Companies Webinar.

Fraud Alert: The Latest Schemes Haunting Title Companies Webinar

CFPB mortgage implementation readiness guide

I got this from Greg at Cloudstar Consulting. Follow Greg on Twitter at @titleTechnology.

201307_cfpb_mortgage-implementation-readiness-guide.pdf

.

CFPB mortgage implementation readiness guide

Mortgage Issues in Title - 2 credits

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OPEN	Estimated Length: 2 hours Cost: $45.00 (USD) Credits: 2 Enrollment Valid For: 12 months

Description

2 Credits.

The major lien disclosed on the county level is a mortgage. A mortgage is a limited conveyance of real property, the purpose of which is to create a security interest for an underlying debt, usually a mortgage note. Understanding the mortgage, how it is recorded, and how to remove it from the record is a core understanding of the Title Insurance industry.

The Course covers:

• Mortgage Basics


• Recording Requirements


• Descriptions


• Types of Mortgages


• Reverse Mortgages


• Construction Loans


• MERS


• Getting Mortgages off Record


• Mortgage Payoffs


• Policies


• Endorsements


• Mortgage Modifications


• Notices of Settlement


• Subordinations


• Closing out Lines of Credit

Objectives

Upon completion of this course the learner will be able to

• Describe how to record a mortgage


• List the types of Mortgages


• Get a Mortgage off Record


• Identify Mortgage Policies


• Identify Mortgage Endorsements


• Complete a Notice of Settlemenmt

Mortgage Issues in Title - 2 credits

Settlement Officer or Escrow Officer job - LT National Title Services - Hoboken, NJ | Indeed.com

Settlement Officer or Escrow Officer job – LT National Title Services – Hoboken, NJ | Indeed.com.

Settlement Officer or Escrow Officer job - LT National Title Services - Hoboken, NJ | Indeed.com

Disclosure comparison > Consumer Financial Protection Bureau

Here is a comparison of the disclosure forms used today and the forms proposed by CFPB to become effective sometime in 2014

Disclosure comparison > Consumer Financial Protection Bureau.

Disclosure comparison > Consumer Financial Protection Bureau

More information about New GSE Legislation

As part of the Title Agent Network, I received this info today:

We wanted you to know that today Senators Bob Corker (R-TN), Mark Warner (D-VA), Mike Johanns (R-NE), Jon Tester (D-MT), Dean Heller (R-NV), Heidi Heitkamp (D-ND), Jerry Moran (R-KS) and Kay Hagan (D-NC) introduced a GSE reform bill that recognizes the value of title insurance. This is great news!

What is GSE reform? GSE (short for government sponsored enterprise) reform aims to fundamentally alter Fannie Mae and Freddie Mac. This is important to the land title industry because Fannie Mae and Freddie Mac currently require title insurance in their service guides. If Fannie/Freddie are replaced, we must ensure standards for title insurance remain in place as a risk-management standard for lenders and consumers.

ALTA’s CEO, Michelle Korsmo released a brief statement today thanking Senators Corker and Warner for recognizing the importance of title insurance in their legislation. Read Michelle’s statement here.

ALTA is working very hard for our members as Congress begins to consider GSE reform, but we will continue to need your help to explain the land title industry to legislators and regulators. Our members continue to be our very best advocates. If you want to learn about ways that you can help locally, please email ALTA’s manager of external communications, Wayne Stanley.

We will continue to pass along important updates on GSE reform as they become available. As always, I can be reached at justin@alta.org if you have any questions.

More information about New GSE Legislation

Senators propose overhaul of housing finance - KXNet - Bismarck/Minot/Williston/Dickinson

This may have significant impact on the title insurance industry.  Fannie and Freddie both require title insurance.  If they go away, whatever takes their place may not.  Hard to imaging that investors would not want their investment insured but it is impossible to predect what our fine legislator might come up with.

Senators propose overhaul of housing finance – KXNet – Bismarck/Minot/Williston/Dickinson.

Here is ALTA’s reaction:

American Land Title Association Statement on

Corker/Warner GSE Reform Bill Introduction

Senators propose overhaul of housing finance - KXNet - Bismarck/Minot/Williston/Dickinson

Tell Congress "No" on H.R. 1077!

This is taken from the Linkedin Group: National Association of Independent Land Title Agents.  It was posted there by Robert Holman on 6/6

Several weeks ago, we let you know about a potentially harmful bill known as H.R. 1077, the Consumer Mortgage Choice Act, that currently resides in the House Financial Services Committee for further consideration. The bill is an attempt to give affiliated business arrangements and their title insurance partners an exemption from Dodd Frank requirements that count affiliate charges as part of the 3% cap on points and fees.

Congress understood that affiliate service providers such as AfBAs and CBAs are fundamentally different than your businesses. They also understood that affiliate providers eliminate important checks and balances on the title insurance process and limit the amount of meaningful choice provided to a consumer. With the introduction of H.R. 1077 by the banking lobby, we are going to have to re-convince Congress of why the dichotomy between affiliate providers and independent providers matters.

NAILTA is the only national title insurance trade organization to state a public position in support of independent title insurance agents. In light of this fact, it is very important that you join our efforts and have your voice heard!

For more information on our opposition to this bill, please visit our website at www.nailta.org.

We need you to contact your member of Congress and tell them that independent land title agents do not support H.R. 1077 or S.949 which would give lenders and their affiliates carte blanche control over the selection of settlement service provider and remove a consumer’s right to choice.

Members have already graciously taken to the task of sending emails, telephoning Congress and faxing the prepared letters to their Representative. The effort has been strong, but we continue to need your help!

To find out how you can help in contacting members of Congress, please contact us at info@nailta.org.

The power to change minds in Washington, D.C. is in your capable hands. We urge you to take a few minutes over the next couple of days to help voice your stand against H.R. 1077 and for consumers and small businesses across the United States.

Posted By Robert Holman

Tell Congress "No" on H.R. 1077!

The CFPB takes action against real estate kickbacks > Consumer Financial Protection Bureau

Make sure those Affiliated Business Arrangements are not a sham.

The CFPB takes action against real estate kickbacks > Consumer Financial Protection Bureau.

The CFPB takes action against real estate kickbacks > Consumer Financial Protection Bureau

U.S. consumer bureau’s first criminal referral is a warning for regulated banks | Financial Regulatory Forum

This kind of action by the CFPB will motivate banks to vet their service providers.  This particular action did not involve a title agency but I can see by extension, that title companies will come under the same scrutiny.

“Paul Schieber, a shareholder at the law firm Stevens & Lee, said banks who work with unregulated financial companies needed to carry out thorough checks on their partners past behavior to avoid being on the wrong end of an enforcement action.”

U.S. consumer bureau’s first criminal referral is a warning for regulated banks | Financial Regulatory Forum.

U.S. consumer bureau’s first criminal referral is a warning for regulated banks | Financial Regulatory Forum

Being responsible for your independent contractor’s fraud - Lexology

I found this interesting.  Is this not the issue Dodd/Frank is trying to address in making financial institutions responsible for their 3rd party vendors?  It seems if or when it gets tested in the courts, there will be precedent in this case.

Being responsible for your independent contractor’s fraud – Lexology.

Being responsible for your independent contractor’s fraud - Lexology

Housing continues to take shape, various hurdles remain: MBA | HousingWire

Housing continues to take shape, various hurdles remain: MBA | HousingWire.

This article bemoans the fact that there is “an absence of leadership in regards to the future of the government-sponsored enterprises and government reform.”   I’m not sure that a lack of government involvement isn’t a good thing.

Housing continues to take shape, various hurdles remain: MBA | HousingWire

NJ Rate Manual Course updated

Learntitle’s Rate Manual Course has been updated to include changes made to the manual the first of April of this year.  Don’t wait until your license is about to expire before taking all your CE credits.  Enroll in this one today, get 3 credits and keep up to date on the rates.

NJ Rate Manual Course updated

Test Post from NJ Title Insurance

Test Post from NJ Title Insurance http://learntitle.com/titletalk

CFPB will be taking a serious look at closing and escrow third party services

Take a look at the ALTA Group on Linkedin.  There is a good discussion there about how the CFPB will be taking a closer look at title agencies and there relationships with banks.  Click here to read the discussion

If you want to download a copy of the Bulletin, Click Here

CFPB will be taking a serious look at closing and escrow third party services

Ted says the Recession is Over

Chief Economist at Stewart Title says the recession is over.  Good to hear.

From Ted Jones at Stewart blogs

While there are several definitions of a recession (a period of several months in which economic activity declines), I define a recession as an extended period when the country has job losses. Jobs are everything to the economy. Period. And when it comes to housing, other than retirees (which I call blue hairs, gray hairs and no hairs), very few people buy a home without a job. And I have gray hair, so my term is not derogatory. Retirement for me is hopefully a decade off.

The GREAT news is that, in the prior 12 months, from the end of January 2012 to the end of January 2013, not one state lost jobs. And I define losing jobs as more than 500 net job losses since I do not believe that the resolution of counting jobs is that precise. This now makes nine times in the past 17 months that no state lost jobs, assuming that 500 number. Hence a genuine trend.

READ MORE

Ted says the Recession is Over

RESPA Rules on Agents

This article is a good summary what you need to ask yourself if there is a chance of a RESPA violation.  The article comes from Raealtor Mag

A home sale cannot be conditioned on the use of a specific title insurance company. Violators can face stiff penalties.

MARCH 2013 | BY PHILLIP L. SCHULMAN

It’s not unusual for a listing agent to have a favorite closing agent and want the buyer to close the transaction using that agent, along with the agent’s title insurance and settlement services. What many practitioners don’t realize, however, is that Section 9 of the Real Estate Settlement Procedures Act prohibits sellers from conditioning the home sale on the use of a specific title insurance company, and in fact violators can be subject to penalties, with the most -typical being a fine of up to three times the amount of the title insurance fee.

READ MORE

RESPA Rules on Agents

SENIOR TITLE EXAMINER - Tampa

From Indeed.com

Examination of title to Florida real property, ranging in complexity, to determine status and to establish chain of title;

• Abstract and analyze deeds, deeds of trust/mortgages, easements, judgments, tax assessments, mineral reservations, and other applicable instruments;


• 4+ years title experience;


• Ability to work in an accurate, detail-oriented and highly productive manner;


• Working knowledge of basic real estate title concepts;


• Foreclosure title experience a plus;


• Working knowledge of legal documents and how they affect title to real property;


• Familiarity with title insurance commitment and policy format and all procedures required to prepare same—including abstracting, title examinations, survey analysis, etc.;


• Familiarity with ATIDS; DataTrace/DataTree; General PC Proficiency; Microsoft Office Suite; Internet Explorer;


• Familiarity with sectional and metes and bounds legal descriptions;


• Ability to perform basic mathematical calculations and tasks requiring detail, concentration, and accuracy;


• Ability to communicate professionally, both verbally and in writing;


• Ability to work both independently and contribute in every aspect to a team environment.


• Verifying ownership and encumbrances of real property;


• Preparing professional reports;


• Reviewing reports for accuracy.

See Post Here

SENIOR TITLE EXAMINER - Tampa

A New And Different Housing Bubble Is Taking Shape

From Business Insider

Wolf Richter

March 19

We have seen it for several years now: foreclosure sales—there were 5 million since the peak of the housing bubble—have become the hunting grounds for investors with two goals: hanging on to these homes until the Fed’s flood of money drives up their value; and defraying the expenses of ownership by renting them out. And funds have a third goal: collecting management fees.

Read more: http://www.testosteronepit.com/home/2013/3/18/housing-bubble-ii-but-this-time-its-different.html#ixzz2OR8rvYgw

A New And Different Housing Bubble Is Taking Shape

Subject Matter Experts needed for Continuing Education Courses

I am looking for a subject matter expert that can help to develop a title continuing education course about agency risk management.  Given the inevitable enforcement of the CFPB to look at how lending institutions monitor their vendors(read title agencies) title agents will need to know what is required in order to be in compliance.

Learntitle is approved in several states so the course will have wide appeal.  Compensation will be a portion of the enrollment fee.

If you are interested, please contact me by responding to this post or sending me an email at art@learntitle.com.

 

thanks

 

Subject Matter Experts needed for Continuing Education Courses

The Consumer Mortgage Choice Act (H.R. 1077) reintroduced

This is an interesting discussion over on Linkedin in the American Land Title Association Group.

The Act provides for exclusion of fees charged by creditor’s affiliates from the 3% Dodd-Frank “points and fees” threshold used to determine which loans qualify as Qualified Mortgages (QMs).

Check it out

The Consumer Mortgage Choice Act (H.R. 1077) reintroduced

Test Post from NJ Title Insurance

Test Post from NJ Title Insurance http://learntitle.com/titletalk

4506-T electronic signatures begin | HousingWire

On Jan. 2, President Obama used an autopen to sign the fiscal cliff bill, while vacationing in Hawaii. This may be a sign as to the trend for the 2013 mortgage market: electronic.

Five days after President Obama signed the bill, the Internal Revenue Service will begin accepting electronic signatures on the common mortgage origination document, Form 4506-T.

The tax return transcript is a requirement for the majority of all mortgage originations and loan modifications. Lenders use the form to verify the income of borrowers.

4506-T forms were the last remaining documents in the loan origination process that required a handwritten paper signature.

“The actual e-signing of the 4506-T is minimal. This has been the hold out document so to speak. The excitement is that ‘now I can do my total origination up front electronically,’” said Kelly Purcell, executive vice president of eSignSystems

Income Verification Express Service vendors play a large part in the loan underwriting process, including income verification with the IRS. The IVES vendor is the last submitting party to the IRS that is responsible for sending the 4506 Form to the IRS, getting it back and pushing the information back to the lender.

Because of the credit crisis, virtually every loan or loan modification being processed today requires a 4506-T, Purcell told HousingWire. In 2006, there were only approximately one million 4506-T forms processed, while today there are more than 20 million.

“They needed a cost effective method to handle the volume of these requests,” said DocMagic eServices director Tim Anderson.

This is the beginning of an electronic trend, as the benefits behind this become more evident, according to Anderson.

There are a number of electronic signature requirements that will ensure security for those using the newest technology, he added. And, it is important to also keep in mind that these electronic signatures will save significant time and money. For Anderson, that time is now.

"I'm excited. 2013 is the year for adoption," added Anderson.

mhopkins@housingwire.com

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Another step toward totally electronic closings.

Title Insurance Industry Free Classifieds
New Jersey Title Insurance Linkedin Group

Mortgage industry fares well in fiscal cliff deal, debt forgiveness law survives | HousingWire

The mortgage industry can breath a sigh of relief with the final fiscal cliff deal bringing back a popular tax break on mortgage insurance premiums and debt forgiveness for borrowers who go through a short-sale or some other type of debt reduction.

A topic that is still up for discussion and likely to surface later in the year is whether the popular mortgage interest tax deduction will be part of a long-term deficit reduction plan.

Still, the deal passed by the Senate and House on Jan. 1 is one that leaves room for hope in the housing market.

The American Taxpayer Relief Act of 2012 apparently extends a law that expired at the end of 2011, which allowed for the deductibility of mortgage insurance premiums, according to a research report from Isaac Boltansky with Compass Point Research & Trading. The law now applies to fiscal years 2012 and 2013.

"The law dictates that eligible borrowers who itemize their federal tax returns and have an adjusted gross income (AGI) of less than $100,000 per year can deduct 100% of their annual mortgage insurance premiums," Compass Point said.

"Certain borrowers with AGIs above $100,000 may benefit from the deductibility as well but are subject to a sliding scale. The tax break covers private mortgage insurance as well as mortgage insurance provided by the FHA, the VA, and the Rural Housing Service. In 2009, about 3.6 million taxpayers claimed the mortgage insurance deduction," the research firm added.

One of the more watched provisions of the fiscal cliff was the Mortgage Forgiveness Debt Relief Act of 2007, which was set to expire on Dec. 31.

The fiscal cliff deal extends it for another year, meaning homeowners who experience a debt reduction through mortgage principal forgiveness or a short sale are exempt from being taxed on the forgiven amount.

"The amount extends up to $2 million of debt forgiven on the homeowner's principal residence," Compass Point Research & Trading said. "For homeowner's to qualify, their debt must have been used to 'buy, build, or substantially improve' their principal residence and be secured by that residence. The law, which was passed in 2007 with a 5-year sunset provision, will now be in effect until Jan. 1, 2014."

Another minor win for housing is a provision tied to the government's plan to increase the capital gains tax rate from 15% to 20% for individuals who earn more than $400,000. While in theory, this is harder on higher-income homeowners, Compass Point sees a silver lining through an exclusion.

Compass Point notes the law "states that only gains of more than $250,000 for individuals ($500k for households) are subject to taxes on the excess portion of capital gains. Point being, in order for an individual homeowner to be impacted by the increased capital gains tax rate they would need to have an adjusted gross income above $400,000 and gain more than $250,000 from the sale of the property. Since this exclusion threshold remained intact, the impact of the capital gains tax increase is limited."

kpanchuk@housingwire.com

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Title Insurance Industry Free Classifieds
New Jersey Title Insurance Linkedin Group