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Climate change and insurance issues: Nearly 40% of agents believe climate change is impacting where people choose to live, and almost half of all agents encountered more issues with home insurance during transactions in 2024. Despite these concerns, a majority of agents are optimistic about increasing sales in 2025.
Many cited unpredictable income and difficulty finding clients as major drawbacks, though they valued the professions entrepreneurial independence. However, fewer than 10% of agents said they had received training on discussing climate risks with clients. identifying it as a major issue.
For title agency owners and professionals, finding the time and resources to train your team can be challenging. However, well-trained employees offer undeniable benefits, such as increased productivity , engagement and job performance. While mentoring and coaching go hand-in-hand, they’re not interchangeable terms. ” We agree.
Mortgage tech firm TRAiNED Inc. TRAiNED named Mark Cunningham, a co-founder of Sales Boomerang , as its new CEO. Department of Homeland Security and title insurance company Charter Title. It aims to save clients an average of 15 hours per week on labor.
Much like lawyers needing to take a separate bar exam in each state they wish to practice in, real estate agents’ training and licensing requirements vary by state. Arguably, one of the most important functions of a real estate agent is to guide and be a subject matter expert to clients through the buying and selling processes.
By cutting down on these administrative tasks, title professionals can focus more time on client-focused service. Platforms like DeepL and Google Translate can help bridge communication gaps by translating emails, documents and client communications. AI-powered tools like Grammarly and Copy.ai
The raison d’etre is the same whether you work as a mortgage loan officer at a depository bank or an independent mortgage bank – originate a purchase mortgage or refinancing for a client. Federal regulations mandate that nonbank LOs take training prior to being certified. Learning materials up to par? HMDA, Fair Lending etc.,”
But when we say this is the Ultimate Resource Guide for title insurance professionals, we mean it! Associations American Land Title Association (ALTA) ALTA serves as the national trade association and voice for the title insurance industry, representing over 6,000 title insurance companies, agents and real estate attorneys.
Obtain insurance Most states will require you to carry both liability insurance and errors and omissions (E&O) insurance for your brokerage. Your vision statement should be 1-2 sentences and should include what you and your team want to achieve for your clients. Envision your brokerage in 3-5 years.
Such quality concerns could be keeping some baby boomer clients from moving into newly constructed homes, Cook said. This is because theyre literally trained in school to find the biggest problems and identify them. This is because theyre literally trained in school to find the biggest problems and identify them.
Fortunately, there are ways to detect deed fraud attempts early, but mortgage professionals need to be well-informed to protect themselves and their clients. Training staff to recognize the signs of fraud and the types of techniques used by fraudsters is equally vital.
Risk Mitigation Strategies Diversifying our client base and loan portfolio helps mitigate risk in the face of economic fluctuations. Maintaining a strong focus on customer service and borrower support helps build trust and loyalty, ensuring long-term stability for LoanCare and our clients. Next year] will be no different for us.
This is evident when you ask any highly successful agent where they find their clients. Inevitably, their answer will be “my past clients and sphere.” Perhaps the client wishes to make a purchase that isn’t in the agent’s geographical area or their wheelhouse of expertise. What are the benefits of referrals?
White label title insurance franchise Proliant Settlement Systems announced Friday the acquisition of Great Northern Title Insurance Agency (GNTIA) in Michigan as a franchisee. It also provides IT infrastructure experts, back-office support, and training for the franchisee. It also operates in Florida.
The bill passed the Alabama House of Representatives in mid-February and is currently on the calendar of the state Senates banking and insurance committee for further review. But Ellison said that her agents have not had any issues with clients about these agreements. And that is positive.
Furthermore, servicers can leverage these relationships to approach consumers with value-added services including asset protection, insurance products, home improvement loans, and maintenance options. Revenue can also skyrocket, as well-trained staff with the right servicing software can service 700 or more loans individually.
Real estate agents often make the mistake of believing their clients will remember them forever but they dont. Its up to us as agents to stay engaged and stay in contact with our clients. When you buy through our links, we may earn a commission. So, where do you start? Why send a regular real estate newsletter?
HousingWire recently spoke with Brian Simon, president of Trelix Mortgage Fulfillment Services, about how Trelix helps its clients work more efficiently while still maintaining compliance and performing due diligence. BS: To start with, we take the risk of managing human capital off their shoulders because we do the staff hiring and training.
The total estimated cost of getting a Colorado real estate license ranges from $1,080 to $1,800, depending on the real estate course you choose and the cost of your E&O insurance. It can also give your clients peace of mind to know youve planned for any incidents. Does this brokerage offer the training and tools I need?
Additionally, unless there is “specific insurance coverage for stolen funds and all requirements to coverage in an insuring contract are satisfied, a claim for damages will be denied.”
In today’s rapidly evolving digital landscape, it is crucial to understand and effectively manage cybersecurity risks in order to safeguard your title insurance or real estate business. The impact of these risks can be severe, affecting not only your bottom line but also the trust and confidence your clients have in your business.
Little is a customer-centric visionary, with a background in operations, training, business development and management across nearly all channels of the mortgage services industry. He has been a part of the Fidelity National Financial (FNF) family of companies for nearly 10 years.
“That created inefficiencies so that one couldn’t send trains across borders,” Bowler said in an interview with HousingWire in Las Vegas during the recent ICE Experience 2025 event. And that’s where we’re trying to meet our clients in the middle. meter gauge. How is ICE prioritizing this work?
Department of Housing and Urban Development (HUD) has announced a significant expansion of its housing counselor certification exam, now offering the exam and training materials in Spanish, Traditional Chinese, Korean, and Vietnamese. These documents will be available in Chinese, Korean, Spanish, Tagalog, and Vietnamese.
million to fund a training grant that would, in part, “enable specialized training that will prepare counselors to support expanded HECM counseling and to better understand property valuation bias so that they can effectively counsel clients on this topic,” according to congressional justifications for the budget.
“99 ZEROS, AND ONE YES” Insurance Analyst Billy Saunders recalls the challenge like it was yesterday. people, the challenges of hiring, training and compensating trainees have blocked the path of young people interested in the profession. He credits the training he received, and ongoing support of the entire team.
HousingWire: As interest rates rise and borrowing becomes more expensive, how can offering reverse mortgages help lenders provide clients with a stable cash flow in an otherwise volatile market? CM : Firstly, reverse mortgages, whether government-insured or proprietary, are non-recourse loans. Not tax advice.
Meanwhile, homeowners insurance is increasingly becoming a bigger issue for consumers and servicers. In California, Texas and Louisiana, as well as portions of other states that are at risk for natural disasters , just getting homeowners insurance is getting more difficult as large insurers stop writing coverage.
2 However, these potential clients will also face challenges — namely market volatility, unpredictable interest rates and limited purchasing power due to increasing debt. This is a huge boon for the program as seller concessions have not been allowed within the FHA-insured program since its inception.
Djon Luxury Real Estate is expanding its sell-side business, training buyer-side real estate agents on the necessary contracts and selling their value to the consumer. Now, they’re incentivized because they share the profits in the title insurance,“ Samson explained. People will still need to buy a home after July.
7 money moves for a prosperous New Year Use these seven tips to save money, get additional tax benefits and make the most of your insurance , credit cards, retirement accounts and more. Here are a few to consider: Education: Costs for continuing education , training, books and conferences.
The federal regulators that stamped their names on document include the Consumer Financial Protection Bureau (CFPB), the Federal Reserve Board of Governors, the Federal Deposit Insurance Corp. These include effective governance and oversight, as well as employee training, to allow for quicker spotting of a potential instance of EFE.
The pandemic has brought to the surface the glaring inefficiencies – limited trained staff, multiple claims systems, inefficient manual processes – and (unnecessary) financial costs that have plagued the claims servicing process for decades. HousingWire: What are some key challenges servicers are currently facing regarding mortgage claims?
A HECM is insured by the Federal Housing Administration (FHA) 2 and cannot be frozen or reduced at any time. The borrower simply needs to pay taxes, insurance and keep up to date on home maintenance. Another advantage of HECMs over HELOCs is that they’re FHA-insured and offer unique borrower safeguards.
In its July 21, 2020, statement of charges, NYDFS alleged that First American Financial, one of the country’s largest title insurers, failed to properly respond to a security vulnerability on its website. Second, centralize controls and empower your Chief Information Security Officer (CISO).
A tax and insurance escrow account is used for budgeting and administration, similarly to traditional mortgages. and ensuring that potential clients have the reverse mortgage option visible is a key focus for Bruser. I’m working with a couple of brokerage firms on a multi-part agent training series,” Borg said. “I’ve
It’s significantly impacting the title insurance industry now and will only become more prominent as the boomer workforce continues with retirement plans. The solution to these rising threats — as is the case with most cyber-defense strategies, is proactive planning, oversight, and training. Financial and operational headaches.
Behind him, the recent financial crisis still cast a cautionary shadow over new business development, but ahead he saw opportunities for a client-centric, tech-focused family of companies in the title insurance and real estate settlement services industry. Now, at WFG’s 10-year anniversary, this vision holds even more relevance.
While consumers reported little to no guidance or education on wire fraud from the real estate industry professionals they worked with during their home buyer or selling journey, title insurance firms reported different findings.
Training their workforce is also crucial, they said. According to this executive, when her company heard about a cyberattack on a client, “the first thing that our team did was they looked at every endpoint where this client was accessing data from our systems or providing data, and we switched the keys in seconds.”
They’ll also be measuring new legislation/regulation and possibly greater enforcement by various state departments of insurance, state bar associations and more. Third, are there documented training and self-enforcement mechanisms in place? There are few more serious sins in the lending industry than earning a repurchase demand.
At Mayer Brown, Kully advises clients in the consumer financial services and real estate settlement services industries in connection with federal and state consumer protection, licensing, and practice requirements. HousingWire: Lastly, what was your biggest learning opportunity?
Dahlhausen added that working as a loan officer is an opportunity for real estate agents to ”control the transaction” and ”ensure that the client is being taken care of” while increasing their compensation. Working as both an LO and agent was a way to better serve his clients, he said. For example, Realfinity pays LOs 1.4%
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