Please Note the Following November Closures

November 8nd - Election Day

Virginia Courthouses

November 11th - Veteran's Day

Bankers Title and Virginia Courthouses

November 24th & 25th - Thanksgiving

Bankers Title and Virginia Courthouses

The One Quality of Character No One Talks About But Everyone Desperately Needs

by Brian Dodd

When you think of someone who has good character qualities, what comes to your mind? Most people would list the following: Trustworthiness; Truth-Telling; Loyal; Financially Responsible; Morally Without Fault; Always Has Your Back. But in Admiral James Stavridis’s book Sailing True North: Ten Admirals and the Voyage of Character he sheds light on one character quality most people (including me) would rarely, if ever, list: Organization. Click HERE to read on as to the reasons why being organized is a strong sign of someone with high-character.

Your Borrower has a Power of Attorney and wants to have their Agent sign for them at Closing, NOW WHAT?

by Tanya Clark, Bankers Title

It is common in our world for a borrower to want to close on their loan ASAP, and sometimes we find out they will be out of town and need to use an Attorney-in-Fact to sign for them. We may find this out weeks before closing or on the day of closing. In either of these scenarios the first thing you should do is to contact your Title Agent and inform them that a Power of Attorney will be used for this closing. Click HERE to read on.

7 Ways to Showcase Your Lending Strengths

by Stephanie Williams

Reports indicate that 86% of consumers are generally happy with their primary financial institution and get what they need from that relationship. Yet the report also identifies two critical products that consumers are open to getting from a different financial institution: loans and credit cards. When you factor in rising inflation, tight supply chains, and, it’s clear that competition for loans and credit will be fierce. For these reasons, it’s more important than ever for financial institutions to be ready with relevant, personalized credit offers at the time people need them most. Click HERE for some ways to prepare.

Discovering Your Personal Inspiration

by Mike Figliuolo

Understanding what inspires you to do your best work is one of the first steps in developing your leadership philosophy. As you begin articulating your leadership philosophy, the first place to start is leading yourself. You need to know why you’re excited to go to work every day. Why do you get out of bed every day? Because as leaders, we’re there to inspire and motivate the members of our team. For us to do so, we should probably be motivated first and foremost. Click HERE to learn about maxims and how they can help you develop your leadership philosophy.

Virginia Title Rates:Special Community Housing Rates Available

Did you know that Bankers Title offers a special Community Housing Rate?

This 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. Owner's policies issued simultaneously with such loans shall also qualify. Additionally,owner's policies for persons qualifying for assistance under such programs as Habitat for Humanity or other community based nonprofit or philanthropic organizations, may be obtained at the same rate.

Community Housing Rate:

$1.50 per thousand of coverage; Minimum Premium: $100

Only standard ALTA Owner’s Policies and Mortgagee Policies are available under this rate method.

Contact Robyn Parker for more information. Click HERE to view the full Virginia Rate Brochure.

How to Talk to Commercial Borrowers About the Future Path of Interest Rates

by Chris Nichols

The Federal Reserve Open Market Committee (FOMC) has raised short-term interest rates by 3.00% in the six months between March and September. The market is now forecasting an additional 1.25% in hikes by year’s end, with the next move coming on November 3rd. Many borrowers and market participants have been surprised by the speed of these increases. In this article, we would like to share best practices of how lenders advise borrowers on planning for the future path of interest rates and how borrowers should structure their balance sheets to better manage future cash flows. Click HERE to learn more.

Tips to Modernize Small Business Lending

by Gary Lewis

Community banks have been historically important for small business funding. If small business owners need funding, they are likely to find community banks that are more willing to help them out. According to the Independent Community Bankers of America (ICBA), community banks provide over 60% of small business loans in the United States.

However, the past couple of years have led to an abrupt increase in small business loan applications, and community banks are struggling to cope with the demand. As a result, community banks need to update their strategies to manage demand for small business loan applications. Click HERE for recommendations on what they should focus?

SPECIAL NOTICE:

2023 Bankers Title

Desk Calendars 

will be delivered during 

November and December.

Limited Quantities Available

Click HERE to reserve yours today!

Gen Z's Changing Financial Profile: Key Facts for Banks' 2023 Planning

by Garret Reich

Gen Z is an intriguing generation from a financial behavior standpoint, raised on social media with an adulthood defined by Covid-19. Even just a year or two ago, Gen Zers were reported to be falling behind with even fundamental financial knowhow. No longer. Gen Z is now comfortable with daily, mundane financial responsibilities, according to new Bank of America research. Instead, what they want more of from their banking providers is assistance with big-picture finances: retirement, investing, building up emergency funds. BofA worked with Ipsos to poll 18 to 25 year old Bank of America consumers on a range of financial questions in late June-early July 2022. Click HERE to read about the top trends bankers must know about Gen Z when building out 2023 strategic planning goals.

Bankers Title Sponsors VBA Lending and Credit Conference

Bankers Title, along with sister agencies Bankers Title Shenandoah and Virginia Title Center, and Investors Title served as a sponsor of the Virginia Bankers Association's 2022 Lending and Credit Conference. The conference took place in Charlottesville on October 24th and 25th.

Congratulations to the drawing winners:

• Ken Moran, VP, Regional Commercial Loan Officer at Chesapeake Bank was the winner of the Investors Title fall gift basket.
• Karen White, Regional Lending Manager at Virginia Small Business Financing Authority was the winner of the multi-agency sponsored $100 VISA gift card.

Congratulations and thank you to all who stopped by and visited with us at our booth during the conference.