August 2022
Title Notes E-news
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NAR Chief Economist: Nationwide Home Price Decline Won't Happen Soon
by David Krechevsky
In both written remarks provided ahead of time and in a recent testimony before the U.S. Senate Committee on Banking, Housing, and Urban Affairs Yun said the potential for weaker sales should increase available inventory in some markets, but not enough to affect persistent affordability constraints which, for many Americans, have kept homeownership out of reach. "In the near term, I do not expect the situation to change appreciably. Historic undersupply in the market, combined with continued demand, will likely drive ongoing issues with affordability for many Americans. Any short-term price adjustments, if they occur, will be less consequential compared to the immense longer-term housing affordability challenges we face as a country." Click HERE to read on.
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How to Find Balance Between Leadership and Managementby Ming Ong
In Leading Change, the Leaders as Chief Transformation Officer, Warren Bennis said, “Management is getting people to do what needs to be done. Leadership is getting people to want to do what needs to be done. Managers push. Leaders pull. Managers command. Leaders communicate.” The fine line between management and leadership within the workplace is encountered often, and by many individuals in position of authority. Business leaders often fall into a managerial role and take on a plethora of management tasks. However, leadership and management are two distinctively different, though complementary, systems of action. Click HERE to learn more about finding the balance.
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HAPPY AUGUST WORK ANNIVERSARY!!! |
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Will Mortgage Lending Get Tighter in the Next Recession?
by Logan Mohtashami
As recession talk becomes more prevalent, some people are concerned that mortgage credit lending will get much tighter. This typically happens in a recession, however, the notion that credit lending in America will collapse as it did from 2005 to 2008 couldn’t be more incorrect, as we haven’t had a credit boom in the period between 2008-2022. One of the biggest reasons home sales crashed from their peak in 2005 was that the credit available to facilitate that boom in lending simply collapsed. So, could we see a similar tightening of credit when the next recession hits? The short (and long) answer is no, not a chance. When people say credit will collapse down to 2008 levels, I kind of snicker and think, well, we can’t collapse to 2008 levels because credit availability is already there. Click HERE to read on.
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Bankers Title Comprehensive Commercial Services |
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Did you know that Bankers Title’s skilled and dedicated team of experienced professionals are focused on meeting the unique needs of each commercial client?
Our knowledgeable team includes two Certified Commercial Underwriters and two commercial certified settlement/ escrow officers with over 20 years of paralegal experience. We take pride in delivering exceptional service for any size, type and complexity of purchase, construction or refinance commercial transaction.
Our comprehensive commercial services include:
- Coordination of Title Searches
- Commercial Title Insurance and Endorsements
- Escrow Services • Closing and Disbursement Services
- 1031 Exchange Services facilitated through Investors Title Exchange Corporation
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Click HERE to learn more.
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Will Mortgage Lending Get Tighter in the Next Recession?
by Logan Mohtashami
As recession talk becomes more prevalent, some people are concerned that mortgage credit lending will get much tighter. This typically happens in a recession, however, the notion that credit lending in America will collapse as it did from 2005 to 2008 couldn’t be more incorrect, as we haven’t had a credit boom in the period between 2008-2022. One of the biggest reasons home sales crashed from their peak in 2005 was that the credit available to facilitate that boom in lending simply collapsed. So, could we see a similar tightening of credit when the next recession hits? The short (and long) answer is no, not a chance. When people say credit will collapse down to 2008 levels, I kind of snicker and think, well, we can’t collapse to 2008 levels because credit availability is already there. Click HERE to read on.
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9 Pivotal Trends That Will Shape Banking Strategies
by BK Kalra at Genpact
Trends are always a continuum, but each year brings unexpected challenges and opportunities. The list in this article impacts responsibilities of bank executives that oversee credit, retail banking, technology, payments, customer experience and security. Some of the forthcoming changes will likely surprise even seasoned participants within the industry. Many trends are positive, yet not all.
Click HERE to review the nine key trends we believe will set the stage for, and impact, the now rapidly evolving business of banking.
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How To Be a Smart (Not a Sore) Loser
by Mark Sanborn
Nobody likes to lose. When someone loses and reacts badly, we call them a sore loser. Yet others use loss to fuel future victory. How do they do that and become smart losers? To be a winner requires that someone else was a loser. When you are that loser, click HERE for some ideas to make you a smart loser. So, next time you face a loss, don’t simply react. Instead thoughtfully respond, as a smart loser. Losses are irritating, yet at the same time they give you a chance to improve.
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Bankers Title Proudly Sponsors ADA Memorial Golf Tournament
In honor of our own Julie Krupnick, Bankers Title is excited to participate as a sponsor of the American Diabetes Association's 33rd Annual ADA Memorial Golf Tournament. The tournament takes place on Monday, September 19th at Heron Ridge Golf Club in Virginia Beach. Come join us for a great cause! Bankers Title encourages you to either sign up as a corporate sponsor or join us with a foursome to enjoy this beautiful course. Click HERE for more tournament details and sponsorship information.
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What the Frontline Fraud Fighters are Seeing
by Jack Sundstrom
The banking industry’s fraud investigators and analysts are the boots on the ground in the fight against identity fraud schemes and rings. For this reason, there is tremendous value in knowing how these fraud fighters are faring in their continuing battle against the organized and sophisticated criminals preying on financial companies and their customers. What motivates them? What’s their perspective on how their teams are equipped to fight fraud? And most importantly, how do they recommend their organizations adjust their fraud strategy to combat today’s quickly evolving schemes? Click HERE to learn about these insights and more.
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Working long hours to process your client's loan applications? Our online quick quote rate calculator is available 24/7/365
You can easily access it from the home page of our website. Check it out HERE. Get your title premiums, settlement fee, and recording fees with three clicks. The quote can be saved as a PDF document and emailed to your client. Fast, simple, easy, anytime!
Want to request a quote? Just click HERE to fill our and form and e-mail it to us.
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ATTENTION LENDERS:
Important Information Regarding Receipt of Closing Packages
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Bankers Title appreciates your support and cooperation in submitting your closing packages with clear to close no less than 24 hours before the scheduled date and time of closing.
It is the practice of our settlement processing team to review the documents submitted for accuracy prior to providing them to our closers. Often, our mobile closers need to travel up to an hour to the closing destination and also choose to review documents for questions prior to closing.
This 24 hour standard allows us to keep the client the top priority, and assure a smooth closing. A positive experience reflects favorably on you, your company, and Bankers Title.
Please share this with your team members as appropriate. Thank you for your understanding.
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Robyn C. Parker
Vice President & Agency Manager
Bankers Title, LLC
9011 Arboretum Parkway
Richmond, VA 23236
Phone: 1.800.830.1414 | 804.560.7655
Integrity. Security. Excellence
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Bankers Title is a full-service Title and Settlement Agency that is committed to integrity and transparency in each of our transactions. Our team is made up of the best in the business and we look forward to helping you make informed decisions about your home.
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