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March 2025
Title Notes E-news
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The Power of Teams: From Everest to the Pinnacle of Business Success
by Susan Ershler
Creating a successful business is like climbing one of the world’s highest peaks. One moment, the way ahead is clear and the summit seems tantalizingly within reach. Then, without warning, an icy storm descends, battering you with howling winds and near whiteout conditions. At times like these, climbers depend on the expertise and experience of their mountain guides and fellow climbers for their very survival. We don’t climb high mountains alone. The same is true in the business world, where global market forces and turbulent economic cycles pose ongoing threats to the viability of a fledgling business. Click HERE to read the article in its entirety for greater insights.
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Happy 12th Anniversary Christy Simmons! | |
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Adapting to Uncertainty: How Community Banks Can Manage Costs, Competition and Compliance
by Cindy Snow
The latest Conference of State Bank Supervisors (CSBS) survey underscores the difficult road ahead for community banks, yet it also highlights areas where the right technology can drive meaningful improvements. By focusing on streamlined integration and modernization, these institutions can address operational challenges while continuing to deliver the personal service their communities value. By embracing smart integration solutions, community banks don’t have to sacrifice the personal service they’re known for. Instead, they can build on their strengths—offering high-tech solutions with a high-touch approach. In an environment where margins are tight and competition is fierce, this balance will be the key to positioning community banks for long-term success. Click HERE to learn more.
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How Banking Leaders Can Enhance Risk and Compliance With AI
by Dennis Irwin
A comprehensive analysis explores artificial intelligence's dual impact on banking risk and compliance. While AI offers enhanced fraud detection, real-time risk assessment, and improved cybersecurity measures, with 44% of financial institutions prioritizing these investments, it also introduces new challenges. The article highlights how compliance leaders must balance AI's benefits against concerns over algorithmic transparency, data privacy, and potential bias — particularly notable as less than half of consumers trust AI with their financial data. Click HERE to learn more.
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7 Tips for Dealing With Irate Customers
by Mark Goulston
One of the things that all irate customers have in common is that they have an attitude that says “I rate better service than this and now that I have you on the phone, you’re going to pay for it!” And one of the other things about them that gets to you is you feel unjustly accused of having done this to them and that can make it difficult to remain calm. That is why the first three tips are about ways to remain or regain your calm and the final four about what to do next. First - 3 Strikes and You’re Calm – 1. Think of the first thing you want to say or do in response to an irate customer (which is about defending or protecting yourself). Don’t do it, take a breath and exhale. 2. Then think of the second thing you want to say or do (which is about retaliating). Don’t do that, take a breath and exhale. 3. And finally think of the third thing you want to do (which is about finding a solution) and do that. Click HERE to learn about the remaining six tips.
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How To Reduce Email Overload
by Andrew Brodsky
Research shows that leaders’ overflowing inboxes doesn’t only impact their stress, but can undermine their ability to effectively lead others, as well. That’s why executive communication overload isn’t just bad for one-on-one interactions that go awry—it can create a cascade of organizational challenges that undermine productivity, team collaboration and overall workplace effectiveness. Cultivating a healthy communication culture for leaders requires intentionality and effort. By making implicit expectations and norms explicit, and fostering an environment where clarity is prioritized over speed, organizations can significantly improve trust, morale and productivity. When executives take the lead in establishing clear communication practices, it sets a powerful example for their teams. The result is an organizational culture where everyone feels more empowered to communicate effectively. Click HERE to read on.
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Did You Know? Bankers Title Tidbits. | |
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Survey Coverage Up To $5M for Lenders Coverage
A mortgagee policy with full survey coverage can now be obtained from Investors Title without the expense and delay of obtaining a current survey. This alternative in title insurance underwriting is designed to save time, improve scheduling and save the mortgagor from having to continually pay for updated surveys. A mortgagee policy can be issued providing full survey coverage without a current survey if, at any time in the chain of title, the property has been surveyed by a registered land surveyor and is described consistently with such survey. This coverage may be used to satisfy requirements for the issuance of an ALTA 9 up to $5 Million dollars in coverage. Click HERE for more information.
Bankers Title Offers Back-Office Settlement Support For Attorneys
We proudly offer back-office support for Attorneys with limited staff or those who prefer not to handle the funds and disbursement.
- We work with the Attorney behind the scenes to prepare the Settlement Statement, clear title requirements, and deliver the closing package to the Attorney to conduct the closing with their client.
- Bankers Title will handle all funds and disbursements
- Competitive all-inclusive fee for this service
- The Attorney instructs us on how they would like the communication with the client to be handled. We can communicate, or the Attorney can be the primary contact point.
- Free up your internal resources for more critical jobs and allow Bankers Title to take on the time-consuming tasks of preparing a settlement. Click HERE for more information.
Investors Title Offers Special Rates for CRA Premiums, Commercial Rates & Reissue Rates
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Community Housing Rate is available for policies issued to cover loans made to persons with income not to exceed the median income AND made in connection with Fannie Mae's or any lender's affordable housing programs, community development programs, low income housing or community enhancement programs. The rate shall be:$1.50 per thousand of coverage, Minimum Premium: $100.
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Special Commercial Rates help save your clients dollars on standard owner's and loan premiums. Standard Owner starts at $3.00 per thousand and Standard Loan at $2.00 per thousand up to $1M of liability.
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Reissue Rate for applications on which title insurance has been previously issued. Applies to ANY lender or owner previous policy, no matter the underwriter. Reissue rates apply up to the face amount of the previous policy, with excess insurance computed at the Standard Owner or Standard Loan rate.
Click HERE to review our Virginia rate brochure which outlines all of the details.
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New Homes Are Getting Smaller. Are Buyers Looking for Less Square Footage?
by Eliana Block
Research shows that new homes are shrinking, and a recent study shows that matches consumer preferences. The trend of newly built homes in the U.S. shows the median size decreasing from 2,128 square feet in 2022 to 1,965 square feet in 2024. This shift is largely driven by affordability concerns, as higher mortgage rates and tighter budgets push buyers towards smaller, more financially manageable homes. Additionally, newly built homes often cost less than preexisting ones, offering significant savings. Builders are also providing financial incentives, such as lower interest rates and assistance with closing costs, to attract buyers. Modern features like energy-efficient appliances and open floor plans further enhance the appeal of these smaller, newly built homes. This trend reflects changing buyer preferences and builders' strategies to make homeownership more accessible. Click HERE to read on.
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For the Real Estate Practitioner | |
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ANNOUNCING NEW QUOTE CALCULATOR!
Works on laptop, tablet and phone
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Set up Your Account to Brand Your Title Quotes, Buyer Estimates, Seller Net Sheets and More! | |
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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Jaime Brown
Director of Operations & Settlement
Bankers Title, LLC
9011 Arboretum Parkway
Richmond, VA 23236
Phone: 1.800.830.1414 | 804.560.7655
jbrown@bankerstitle.com
www.bankerstitle.com
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