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February 2023

Title Notes

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Virginia Title Center and the Circuit Courthouses will be closed on

Monday, February 20, 2023

in observance of President's Day.

The Best Leaders Are Comedians

by Antonio Garrido


Leaders can learn a lot from comedians. They’re captivating public speakers, they practice economy of language, and they’re experts at insight -- a critical leadership skill. Comedians are wonderful at drawing seemingly unrelated pieces of information together in new and unexpected ways. The best leaders have a similar gift: they have the ability to ‘see beyond the data’ and notice patterns, trends, or truths that nobody else sees. And then, like comedians, when they draw attention to the path of their particular perspective, suddenly everyone else sees it too – this is insight in action. Click HERE to learn more.

The Massive Shifts In Leadership That Are Creating The New Future
Five Ways To Increase Leadership Courage in 2023

Is it Time to Shake Up Your Work From Home Routine?

by Elizabeth Grace Saunders


We’re approaching three years since the initial office exodus, where millions of people found themselves stationed at home full-time, overnight. The initial shock of that transition has worn off. So if you participated in the office flight, you’ve likely settled into some semblance of a routine. But is it time to make a change? As a time-management coach, I’ve seen that some small tweaks to your schedule can make a big impact and could give you a fresh approach to the new year. Click HERE for a few reasons why you may want to shake things up — and how to make these changes effectively.

Must-Watch Banking Battles of 2023 Revolve Around CFPB

By Steve Cocheo


Expect the gridlock to be worse and the posturing more partisan on the banking committees during the meeting of the 118th Congress. The banking docket is more than full, with the Consumer Financial Protection Bureau facing an existential crisis and the status of fintechs still hazy. Potential help: a revamp of the data rules in the Gramm-Leach-Bliley Act is in the offing. Click HERE to learn more.

Why the Banking Sector Will Be Resilient in 2023
Bankers' Wish List for 2023 - Three Leading Challenges

Fostering an Ownership Mentality to Boost Your Business

by Shaara Roman


When you think of an entrepreneur, you think of someone who is constantly hustling. They’re highly invested in their work, extremely driven, innovative, and agile. Now, wouldn’t it be great if all employees operated like that? Of course you want your employees to work for you the way they would work for themselves…and it’s possible. By nurturing an ownership mentality, you can create a team of people who are genuinely invested in the ongoing success of the business. Fostering a company culture driven by a ‘we’re all in this together’ mindset is easy – click HERE for 10 actionable strategies.

Don't Underestimate Your Influence at Work
How to Focus Joyriders On Your Team

Preparing Your Super Bowl Game Day Menu:

12 Delicious Dips for Your Party

from The Old Farmers' Almanac


Our delicious dip recipes are perfect for the Super Bowl, game days, or snack time. We’ve got all the favorites: onion dip, guacamole, spicy buffalo chicken dip, spinach artichoke dip, nacho layer dip, and more. Just add tortilla chips, pita, or crackers and you’re set to kick back and enjoy the game. Check out these recipes and more HERE. Eat well and enjoy the big game!

Inside Mortgage Lenders' Strategies for 2023

by Flavia Furlan Nunes


Now that the refi party is over and total volume is down, lenders are fighting to gain market share. 2023 will be a challenging year for mortgage lenders -- and strategies will have to pivot to accommodate for the rough landscape. Click HERE to learn what mortgage analysts and executives expect for 2023 and find out how they plan to run their businesses successfully in spite of challenges.

Optimism Spreads Across the Mortgage Industry at the Start of 2023
Mortgage Demand Picks Up -- Concessions, Mortgage Rate Buydowns Save Deals

You may have heard radio or seen TV ads lately with a dire warning that your home can be stolen right out from under your nose, and the solution they are peddling is to buy “title lock insurance.” But what exactly is this service? Is it something you really need to keep your home safe from property thieves? Are there other safeguards already in place to protect the deed to your home?


What is title lock insurance? First, title “lock” insurance is NOT title insurance. These are two very different things. “Title insurance protects real estate purchasers and/or lenders from losses that arise after a real estate settlement, but result from unknown liens, encumbrances or other defects upon the title that existed prior to settlement.” Title LOCK insurance – which is not actually insurance of any kind – claims to protect you against title fraud, not against a legitimate challenge to the title. Title “lock” is a service that monitors the deed to your home to see if it has been transferred out of your name. The service will notify you if this happens – after it has already happened. These services do not actually “lock” your title to prevent fraudulent deed transfers. The chart below outlines some of the differences.

The bottom line is: You don’t need to purchase title lock insurance. It neither locks nor insures your home title against fraud. You should consider freezing your credit reports, which will make it difficult for a fraudster to open new accounts in your name. You also should keep your personal and financial information secure, check your credit, don’t give out your Social Security Number, and destroy any documents with personal information that you no longer need. Click HERE for more information as to how title monitoring services and title insurance differ.

Why First-Time Buyers Are Ideal Victims for Scammers

by Melissa Dittmann Tracey


Younger home buyers who don’t have prior experience in the real estate market may be more naive to the red flags of wire fraud. Even though many are digitally savvy, cybercriminals have become more sophisticated over the last decade and are willing to wait for weeks or even months to strike. These fraudsters will often use fake emails, phone numbers or websites to impersonate a trusted real estate professional. That’s why scammers likely are targeting first-time buyers, which means you need to beef up on cybersecurity best practices and share ways to thwart common hacking threats with these clients. Click HERE to learn how you can inform and protect them.

The Rising Cybersecurity Risks That Will Plague Banking in 2023

by John Carey of AArete


Security breaches have become one of the biggest threats to financial institutions. Remote working, cloud computing and the current geopolitical climate have all played a part, but older forms of infiltration also continue. Hackers, social engineering fraudsters, human error and customers who are just plain careless with credentials are all security threats that banks must take into account. Prevention requires an in-depth, multiyear strategic plan, not a short-term, quarter-to-quarter focus that leads only to reactive solutions. Outlined HERE are some of the top threats that lie ahead and what approaches we’re seeing to address this.

How Banks Can Avoid Losing Small-Business Loans to Fintechs

by Jonathan Katz, Amount


Research indicates that fintech lenders have been encroaching on underserved markets in banks' own territories, to grab small-business loan share at banks' expense. Technology to combat the competitive threat exists, but many banks aren't latching onto these tools. Those that do take the digital plunge stand to benefit from the deeper business insight this offers. It's insight that rivals like Amazon already have access to. Yet banks still have multiple opportunities to catch up— and even surpass — what specialized fintechs are doing today. Success hinges on adopting three key technologies. Click HERE to learn more.

Builder Confidence Uptick Signals Turning Point for Housing Lies Ahead

from National Association of Home Builders


A modest drop in interest rates helped to end a string of 12 straight monthly declines in builder confidence levels, although sentiment remains in bearish territory as builders continue to grapple with elevated construction costs, building material supply chain disruptions and challenging affordability conditions. While NAHB is forecasting a decline for single-family starts this year compared to 2022, it appears a turning point for housing lies ahead. Click HERE to learn more.

3 Variables that Will Influence 2023's Housing Market
How to Empower Today's First-Time Homebuyers
A Powerful Sphere Can Boost Your Paycheck
How to Turn Renters Into Homebuyers
Designers Predict the Hottest 2023 Home Trends
'Barkitecture' Makes Your Pets the King of the Castle
Virginia Title Center Offers Comprehensive Commercial Services
Click HERE for more information on how we can assist you.
Did you know that Virginia Title Center’s skilled and dedicated team of experienced professionals are focused on meeting the unique needs of each client?

Our knowledgeable team includes two Certified Commercial Underwriters with over 35 years of combined experience, along with thirteen seasoned Settlement Processors. We take pride in delivering exceptional service for any size, type and complexity of 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

Virginia Title Center offers cost effective title and settlement services with competitive rates to help reduce closing costs.
Did You Know That Virginia Title Center Offers Free Settlement Quotes 24/7 Through Our On-line Quote Calculator?
Visit our website and give it a try today!
Click HERE for a sample
ATTENTION LENDERS:
Important Information Regarding Receipt of Closing Packages
Virginia Title Center 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 Virginia Title Center. If your closing department is unable to meet this 24 hour prior to closing target, we will request that the closing be rescheduled.

Please share this with your team members as appropriate. Thank you for your understanding.
Why Every Buyer Needs an Owner's Policy
Owner's Policy Comparison Chart
Protect Your Clients From Wire Fraud
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Patti L. Dickerson
Director of Operations & Marketing
Virginia Title Center, LLC
1.800.468.5811 or 540.772.0585
Integrity. Security. Excellence. 

Main Office:
3565 Electric Road, SW, Suite J
Roanoke, VA 24018

Rocky Mount Office:
270 South Main Street, Suite 201
Rocky Mount, VA 24151

Blacksburg Office:
1997 South Main Street, Suite 604
Blacksburg, VA 24060
Virginia Title Center is committed to serve you with unmatched expertise, exceptional customer service and a comprehensive selection of title and settlement solutions to help you grow and succeed. 
 
Our professionalism, technical knowledge and experience provide security as we insure protection for your most valued investment.