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February 2020
Title Notes E-News


Special Notice: Due to unprecedented high settlement volume, Virginia Title Center is requesting 
a  minimum of a 30 day process from receipt of order to scheduled settlement date on purchase files  and 
three weeks on refinances. Creating an exceptional client experience for all parties involved is paramount.
Thank you for your support and understanding.


Circuit Courts and Virginia Title Center
will be closed on Monday, February 17th
in observance of President's Day
Refinancing Boom Fuels Mortgages to Postcrisis Record
by Orla McCaffrey

The mortgage market in 2019 had its best year since the height of the precrisis boom, the latest sign that housing is firming up after showing signs of weakness early last year.  Lenders extended $2.4 trillion in home loans last year, the most since 2006. That was also a 46% increase from 2018.

Robust mortgage lending is generally a good sign for housing, which has seen a rebound in price growth and home sales after a period of declining gains. A refinancing frenzy, induced by last year's trio of interest-rate cuts, fueled the mortgage making and helped steady the industry. The refinancing boom also bodes well for the broader economy, since homeowners saving on their monthly mortgage payments are likely to spend more on goods and services.  Click HERE to read on.
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Here are additional articles related to the  Mortgage Industry you may enjoy:
7 Leadership Lessons From an Unexpected CEO
by Chris Wacker | Laserfiche

Chris Wacker found himself in the corner office of Laserfiche when his wife, the previous CEO, passed away. "Suddenly, I was the CEO. I began thinking about the ways Nien-Ling led the company and tried to emulate them. Now, five years later, I continue to think of her and her leadership style every day." Click HERE  to learn about the invaluable lessons Chris learned that can help any leader.
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2020's Top Cyber Threats in Banking
via bank innovation

According to a recent survey by CSI, bankers seem ready for cyber threats, rating themselves 3.7/5 in cybersecurity readiness.  While it's encouraging that institutions feel so confident about their cybersecurity readiness, at the same time, it's concerning. Experts warn that, as fast as institutions get a grip on the latest hacking techniques and install preventative measures, cyber criminals adjust and adapt.  Click HERE  to learn more about this survey, threats, precautions and access to the executive report.
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Financial Institutions vs. Fintechs: The Fight for Business Banking
by Eric Fulwiler, via The Financial Brand
 
Fintech inroads now threaten the core business banking market as well as retail, but business marketing often lags flashier consumer banking campaigns. Financial marketers can use five broad principles to rewrite their B2B playbooks and blunt the threat from nonbank digital competitors. Click HERE to gain greater insights into these five principles.
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How Will Commercial's Capital Markets Fare in 2020?
by Melissa Dittmann Tracey

A strong economy has translated into a booming past year for commercial real estate. Employ-ment is high, commercial real estate loan delinquencies are down, and about $4.36 trillion of investments-the highest since the Great Recession-came in from commercial real estate lending entities, including REITs, pension funds, government-sponsored enterprises, and construction lending banks.

But how will 2020 compare? The CCIM Institute released a report in conjunction with the University of Alabama's Center for Real Estate, " Vector Calibration: 2020 Capital Markets," to examine the trends, drivers, and impact of capital sources flowing in and out of commercial real estate in the U.S.  Click  HERE  to learn details outlined in this report.

Please click HERE to view 
our new Settlement Fees Effective January 2020

 

**Remember to offer your borrowers Owner's Coverage on their most valuable investment. It's a one time premium with a lifetime of security. In addition, they will receive a reduced premium rate when they obtain it simultaneously with your Lender's Coverage.**
WANTED: YOUR FEEDBACK
What Topics Are On Your Mind?

Virginia Title Center wants to provide you with pertinent information in future E-Blasts and Webinars. What questions are on your mind regarding the real estate and mortgage lending industry? What topics would you like addressed in future E-blasts?  Send Patti your thoughts.
Past issues of the Virginia Title Center E-News are archived on our website HERE
Patti L. Dickerson                                      

Give us a call and let us know how we can better serve you and your team!

Director of Operations & Marketing
Virginia Title Center, LLC
Integrity. Security. Excellence.

 

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. 

 

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