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Lessons from California wildfires and other natural disasters Californias wildfires highlighted the chaos that natural disasters continue to unleash not just on homeowners, but also on the mortgage servicers tasked with supporting them and the insurance industry that covers the cost of rebuilding.
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. All of this ultimately leads to a more successful and competent team. ” We agree.
Mortgage tech firm TRAiNED Inc. hired two executives as it looks to take the company to its next phase of development. TRAiNED named Mark Cunningham, a co-founder of Sales Boomerang , as its new CEO. Department of Homeland Security and title insurance company Charter Title.
This system worked remarkably well until fraudsters developed technology to defeat the notarial process. Sophisticated printers and software turned out fake documents that could fool even the trained eye, and notary stamps, once symbols of trust, became available for purchase online. The damage has already been done.
According to a survey of 783 title insurance entities nationwide conducted by ALTA and NDP Analytics, 28% of title insurance companies reported at least one SIF attempt in 2023, and 19% reported an attempt during the month of April 2024 alone. Fortunately, most SIF cases are identified and addressed before closing.
While these advances are promising, it will still be up to trained professionals to interpret these alerts and take appropriate action. Train your team : Once you have a grasp on the basics of AI and how you see it fitting into your operations, equip your staff with the necessary skills to use AI tools effectively.
This was some of the perspective shared by Matt Cook, the director of business development at HomeTeam Inspection Service , who shared with HousingWire ‘s Reverse Mortgage Daily (RMD) how the growing number of older homeowners is impacting what he sees on a daily basis. But home inspectors also have reputations as alarmists, Cook said.
Her experience has landed her several speaking engagements at training seminars, conferences, and continuing legal education courses on real property issues. We achieved this through a series of impactful conferences, engaging webinars, on-site servicer training sessions, servicer certification courses, and our regular publications.
We have expanded our team member training to [include talking to customers] about their home value and equity if the customer truly can no longer afford the home and none of the retention options are available or appealing to the customer. Michael Keaton, SVP, Subservicing Business Development, Onity Group Inc.
Title insurance veteran Janice Cassidy has been named agency compliance manager at North American Title Insurance Co., “Throughout my career, I have developed strong and lasting relationships with professionals in all aspects of this industry,” Cassidy said in a statement. “I a subsidiary of Doma.
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. Ziolkowski has a proven track record of success in developing and implementing complex initiatives to drive improved customer satisfaction and growth.
Bettina Arthur has been promoted to vice president of sales enablement at Westcor Land Title Insurance Company. Her subject matter expertise spansescrow, closing, mortgage lending, sales, home building, human resources, general management, and organizational development.
This calculation includes median home prices , assuming a 10% down payment, as well as taxes, homeowners insurance and private mortgage insurance. Department of Housing and Urban Development ( HUD ). Median family income data is sourced from the U.S.
“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. Meet some of our trainers, and see how they develop RSDS trainees. With the average U.S.
The new Federal Valuation Agency would be responsible for developing real estate valuation standards and appraiser criteria, a function the Appraisal Foundation currently performs. The Department of Housing and Urban Development , in its recently-released appraisal bias task force report , amplified those findings.
Department of Housing and Urban Development (HUD) are a few key priorities related to the Federal Housing Administration (FHA) and its Home Equity Conversion Mortgage (HECM) program. It would remove the cap on the number of HECM loans that can be insured by FHA. federal government. Within the congressional justifications for the U.S.
Plus, we offer appraisals and field services through other Altisource’s lines of business, including insurance through CastleLine. Although the initial setup, including staffing and training, might take some time, once in place the process will be pretty smooth for the client. Security is a major priority for us too.
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.
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.
To convert these leads into business, the brokerage developed teams — also called units — headed by captains who are successful agents with high lead conversion rates. 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.
Insurance premiums are up 27.7% Many of their development projects require more patience and long-term commitment than other developers are willing to undertake. Mission-based owners also offer tenant services such as meal deliveries, after school tutoring, job placement counseling, and digital literacy training.
But unlike financing with a traditional mortgage, monthly principal and interest payments are not required on the loan, so long as the homeowner keeps up to date with real estate taxes, homeowners’ insurance and property maintenance. The 6% limit also includes payment of the Up-Front Mortgage Insurance Premium (UFMIP).
Yet as surrounding neighborhoods appreciated in value with increased amenities and services, rising costs pushed out the mostly Black, longtime residents — excluding them from the benefits of development.” Her office later had an infraction by the real estate commission and had to take extensive training on fair housing (surprise, surprise).
Developing a trusted referral network can generate new business for you (and your network). These groups, like BNI, consist of one person per industry — one real estate agent, one lender, one insurance agent, etc. She developedtraining materials, classes, and coaching programs for her fellow introverts.
Kully previously worked at the Department of Housing and Urban Development as a senior attorney, in the legal division at Fannie Mae and as a partner at K&L Gates. Kris Kully: It was the six years I spent working as a new lawyer at the Department of Housing and Urban Development. doing really important work around the country.
VP, Sales Training. Mortgage Insurers. National Community Reinvestment Coalition, Community Development Fund. Westcor Land Title Insurance Company. WFG National Title Insurance Company. Enact Mortgage Insurance. Enact Mortgage Insurance. MIAMI Association of Realtors. Jesse Decker. Jessica Lautz.
There are other things that humans still need to do, but the more that companies can make those tasks “lower skill” and easier to train around, the more scalable and nimble the organization can be as the market changes. It is very easy to add steps to a process, and overwhelmingly difficult to subtract them.
We’ll also share best practices for developing and sending real estate newsletters and recommend some essential tools to make your email marketing stand out. Inman.com Timely real estate news, agent advice and training, tech trends and reviews, market trends, and more. So, where do you start? Lets dive in!
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.
So why aren’t more commercial real estate (CRE) entities – investors , principals, banks, law firms or developers – seeking the same? They can be, in essence, the “boots on the ground” for investors and developers alike. Right now, we’re generally seeing more mixed-use developments and multifaceted commercial projects.
The term “redlining” comes from the development by the New Deal by the federal government of maps of every major metropolitan area in the country. These color codes were designed to indicate where it was safe to insure mortgages. These color codes were designed to indicate where it was safe to insure mortgages.
The title insurance industry is on the front lines in a never-ending war with the fraudsters. And while all fraud is worrisome, Carol Bullion-Mincy, the business development specialist at Liberty Title Agency , said that mortgage payoff fraud is the scariest. Can you afford to lose a million dollars? Lakhani-Bhatt asked.
The title insurance industry is built on service. That development could present serious challenges. So, what happens when it becomes much more difficult for title agents to find, recruit and hire the skilled labor so necessary to their core functions? We will soon find out. But it goes beyond benefits.
BH: Your fabulous side is definitely showcased on your social media platforms – you do a great job of highlighting your personality, while educating people about title insurance. How did you start using social media? Luna: So, the whole COVID thing happened, and we had been talking about doing a podcast and I just wasn’t sure.
What it means is there is a higher percentage of potential fraud per file,” Elizabeth Berg, the vice president for education and training at FNF Family of Companies , told attendees of the American Land Title Association’s ALTA One conference on Thursday. Fewer homebuying transactions means less fraud , right? “No!
In the end, some $850,000 in claims had to be paid on defaulted government-backed mortgages insured by the Federal Housing Administration (FHA). Rising rates slowed the rate-term refinance train in the fourth quarter of last year, according to the CoreLogic report, moving the market toward purchase loans — and increased mortgage-fraud risks.
HousingWire recently sat down with Eric Lee , the Senior Vice President of Product Development at DataVerify , to talk about what he sees as the challenges facing lenders today when it comes to figuring out the best way to implement automation solutions and get the best ROI possible. But the reality is they need it now more than ever.
Buddy up with a mortgage lender, insurance rep, or real estate attorney and work the room together. She developedtraining materials, classes, and coaching programs for her fellow introverts. Use the buddy system. When you’re attending a new networking group and don’t know anyone, attend with a friend.
In addition to complying with state laws, you must make a plan on how to train and certify staff and comply with the rules and expectations set by your underwriting and lending partners. Before you do anything, you should ask your underwriter whether they will insure RON closings at all. How should you prepare for RON?
During recent years, even though home equity volume was less when compared to refinance, our home equity groups still participated in the development of the technology and refinement of the services and the products that we offer. The post Prioritizing home equity solutions in a rising rate environment appeared first on HousingWire.
In recent years, the log home suppliers have developed organizations that have successfully lobbied for lower energy standards in log homes through the International Code Council or wood product organizations. Finally, a new training manual has been created by the Log Home Council. All liability falls upon the license holder, i.e,
Department of Urban Housing & Development (HUD) , have published the Pre-Disaster Housing Planning Initiative Report to promote collaborative approaches to disaster housing recovery challenges and bolster state planning for housing recovery before disasters occur.
Also added is AgentNet Knowledge, a one-stop destination for First American Title’s underwriting guidance, education, and CE/CLE training courses. AgentNet Services also includes solutions to support time-sensitive and complex transactions and instant access to back-office services and title experts whenever they’re needed.
Selden is referring to a clarification issued in a mortgagee letter by FHA Commissioner Julia Gordon in late 2022, noting that participants who have ”a direct impact on the mortgage approval decision are prohibited from having multiple roles or sources of compensation, either directly or indirectly, from a single FHA-insured transaction.”
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