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June 2020
Title Notes E-News

**IMPORTANT NOTICE**: Due to unprecedented high settlement volume, Virginia Title Center is requesting 
minimum of a 30 day process from receipt of order to scheduled settlement date on ALL files.
Creating an exceptional client experience for all parties involved is paramount.
Thank you for your continued support and understanding.

Post-Pandemic:  Opportunities and Challenges for the Banking Industry

What the 'New Normal' Might Look Like in Banking (Brace Yourself)
by Bill Streeter, The Financial Brand

The economic fallout from the coronavirus pandemic will impact credit quality, loan demand, deposit growth, fee income and much more. It also raises two key questions for banks and credit unions: Will the accelerated migration to digital channels 'stick,' and if it doesn't, and many people return to branches, can financial institutions afford to keep them open? Click HERE  to learn more.

Time to Take the Blinders Off Small Business Services
by Derik Sutton

Small business relief programs have held bankers' undivided attention lately. What was once considered a largely underserved segment in the financial industry is now at center stage.
Businesses are relying on their banks now more than ever before to provide the relevant financial tools that they need to survive. But the responsibility does not end with lending. Bankers must recognize that while loans can be helpful, providing small businesses with a simple way to get paid and manage finances is arguably more important to their longevity. Click HERE to read on.

Banks Have Opportunity for a Long-Term Win Post-PPP
by Barclay Keith

Despite the current economic challenges, there are market segments showing signs of new activity. For bankers, the question soon shifts from how to efficiently process PPP loans to "How do I continue to build on the relationship with my customers to help them accelerate out of this downturn?" Banks can take a leadership position by not only providing capital to help companies rebound and rebuild, but also give them the tools they need to monetize new opportunities and experience improved cash flow. Click HERE to learn more.

Community Banking Institutions Must Skip Ahead in COVID-19 Script
by Jon Voorhees, Peak Performance Consulting Group

Clearly much about banking will evolve in the wake of the coronavirus pandemic. Smaller financial institutions will often be hit harder than larger ones. The best way to counteract the trends is to look at them squarely and come up with a realistic plan. Wishing for the past won't help. Financial institutions must accept how conditions have changed. Click HERE to learn more about three things to consider.

#VTCDREAMTEAM Continues to Expand

Introducing Jennifer Vaden - Settlement Processor

     Jennifer joined the VTC Team in May. She is a Paralegal with three years of real estate experience including settlements, processing, and closing. Her utmost goal is to provide excellent service to clients and to establish long lasting relationships with lenders, realtors, and for both buyers and sellers. She lives in Floyd with her husband, Matt. They have two young adult children and many farm animals. In her spare time, she enjoys cooking, gardening, and spending time with family.
     Jennifer serves as a Settlement Processor and is based in our new Blacksburg Office located at 1997 South Main Street, Suite 604. Please join us in welcoming Jennifer by sending her an e-mail at

Welcome Back to the Team Kathleen Spano 

    We are thrilled that Kathleen has rejoined the VTC team  in May after spending a year in Philadelphia, PA. Kathleen was born and raised in Roanoke and is a graduate of Roanoke College. She originally joined our team in 2016 after graduation and served in a variety of capacities. In her spare time, Kathleen enjoys road trips with friends, being outside, and volunteering with her service dog, Mila G.
    Kathleen is currently serving as a Settlement Post-Closer and is based in our main Roanoke Office. Please help us welcome Kathleen back to Roanoke by sending her an e-mail at

Visit our About Us page on our website to check our the entire #VTCDREAMTEAM
A New Lending Environment Will Bring New Mortgage Fraud Risks
What should risk managers be thinking about?
by Bridget Berg

The world around us is vastly different than it was even a few months ago. Between new policies, rising unemployment and uncertainty about the future, lenders need to be prepared for a new wave of fraud schemes. To assess the impact of the changing realities of fraud risk, consider: 
  1. Will this make someone more likely to want to commit fraud? Who?
  2. Will fraud be easier to pull off? How?
  3. Are there new opportunities to take advantage of? What?
Risk is not static, so make sure your anti-fraud program monitors all types of fraud. Focus targeted quality-control testing on programs that have had major changes. Review changes in fraud risk indicators, such as fraud scores and alert rates. Keep your front-line staff educated on fraud schemes and update them as new schemes emerge, and watch for risk updates from  Fannie Mae,  Freddie Mac, CFPB,  Federal Bureau of Investigation and  CoreLogic. Click HERE to read more.
How to Avoid Becoming Irrelevant in the New Decade
by Jim Marous, Co-Publisher of The Financial Brand

With digital innovations and new business models being introduced at a faster pace than ever, financial institution managers at all levels must evaluate their role in the new marketplace in order to remain relevant. Embracing the career changes that must be made is often difficult, but it is crucial, both for the individual and ultimately for their institution. Is your financial institution taking the progressive steps to remain relevant? Click HERE to read on.


Here are additional articles related to Bank Leadership that may be of interest: 
Meetings Are Not Wasting Your Time -- A Lack of Follow-Through Is
by Christin Alemany

Too many companies view meetings as a one-way street. They encourage employees to share updates about ongoing projects, but they discourage them from sparking discussions or seeking feedback from peers. Perhaps it should come as no surprise that employees zone out during meetings and treat them as a waste of time.  The purpose of having a meeting is to encourage employees to communicate with each other and solicit input from their colleagues. When an entire team collaborates on an initiative, better solutions emerge - and companies become more aligned.  Click HERE to learn about three tenets that can be implemented to ensure that meetings  play an essential role in keeping your company connected and helping it turn ideas into action.

Here are additional  Personal & Professional Development articles that may be of interest: 
How Financial Institutions Can Make Their Commercial Real Estate Portfolios Crisis-Proof
by Paul Clarkson

Banks need to be able to identify which of the loans in their portfolios are at risk of default, so that they can proactively address that risk. As market conditions continue to change day by day and, in some cases, hour by hour, it's become clearer than ever that legacy systems and Excel sheets cannot meet the needs of today's markets. To remain competitive, financial institutions must find fast, flexible and efficient ways to serve their customers, monitor economic impacts and protect their assets. Financial Institutions must lean on solutions that incorporate a single platform and a flexible data model that can offer a deeper understanding of their portfolio and a stronger relationship with their customer. Click HERE to gain greater insights.

Commercial Real Estate Recovery Possible Later This Year
by Catherine Mesick

Even as the reported economic numbers for the first quarter of 2020 ended on a dismal note, auguring a difficult second quarter for commercial real estate, Lawrence Yun, chief economist for the National Association of REALTORS®, takes a longer view. He recently highlighted opportunities for commercial real estate. While some sectors like restaurants and retail may be in for a rough time, he noted that other sectors like industrial may, in fact, see improvement. In addition, the massive federal stimulus package may have some mitigating effects, and as more businesses begin to reopen, the second half of the year could see a rebound for the economy. Click HERE to learn more.


**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.**

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.


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