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October 2016
Title Notes E-News

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8 Culture Change Secrets Most Leaders Don't Understand
by Tim Kuppler for Culture University

Edgar Schein, arguably the top culture pioneer, said in his  closing comments at the Ultimate Culture Conference  last year that we need to put the culture principles next to a good theory of change. So what are some of the most important culture and change principles?
  1. Culture is built through shared learning and mutual experience.
  2. Don't focus on trying to change culture. Focus on a problem, challenge or goal and how culture is impacting the related work positively and negatively.
  3. Results or consequences are necessary for any new cultural attribute to form.
  4. The vast majority of what you hear about culture is actually focused on climate. It's critical to understand the underlying cultural norms or expectations that are actually driving the vast majority of behavior we see.
  5. Define a "FROM-TO shift" from defensive to constructive expectations.
  6. Repeatedly engage groups to define and continuously refine plans to improve results with a meaningful mission priority AND support the targeted FROM-TO shift.
  7. It's critical to adjust management, communication and motivation systems/habits to translate plans to effective action and shift the operating model.
  8. Culture transformation starts with personal transformation.
These individual tips and keys on their own have little use with a subject like culture so READ ON  and  Tim will connect the explanation of these insights.

Here are additional articles related to Leadership and Culture you may enjoy: 
Mortgage Defects are Skyrocketing. 
The Cause? TRID
by Ben Lane

... "The implementation of TRID in the fourth quarter of 2015 is directly responsible for both the increase in compliance-related defects and the critical defect rate for the entire industry, as defect rates for all other categories continue to decrease," said Phil McCall, chief operating officer for ARMCO.
According to ARMCO's report, legal/regulatory/compliance defects made up 25.9% of all defects reported in 2015, while in the first quarter of 2016, they accounted for 50%, an increase of 93%.
In its review, one key issues seems to stand out as a reason for a compliance defect - the Closing Disclosure form.  Click HERE to to learn more details included in this report.

Here is an additional article related to Mortgage Lending you may enjoy: 
Help Your Bank Attract Top Talent
by Anne Ryan

In the past, a good salary and benefits were enough to attract good candidates.  For today's emerging workforce, the conversation has shifted from salary and benefits to career paths and purpose. This makes the recruiting process more complex, particularly for banks who wish to engage this new workforce.

Many banks-especially community banks-don't have the resources or appetite to deliver sought-out culture, modern career development programs, and employee engagement initiatives that this new workforce seeks. Add to that the struggle to overcome the negative perception imprinted on banks as a result of the Great Recession, and it seems impossible that top talent will want to come work for you.  So what's a bank to do?  Read on ...

Small Business Lending: Can You Compete?
by Naseer Nasim, CEO of Baker Hill

A small business owner doesn't want to wait weeks for a decision-and today, they know they don't have to.  
When it comes to securing a loan, small businesses today claim no shortage of options. And the proliferation of online and marketplace lenders has led to a significant result: Many bankers now question their competitive posture.

Small business owners, for example, are not about an attractive rate far above all criteria. In fact, rate is rarely a sticking point if a lender can turn around a fast decision. This is where many banks struggle to win against non-bank contenders. But this doesn't have to be the case. With a renewed focus on the distinct needs of small businesses-in tandem with the right technology-banks can achieve both the speed and profitability they need to compete.  Click HERE to learn more.

Here are additional articles related to Business Banking you may enjoy: 
Defining Community Banks' Future for Success
by Hans Pettit

It seems that community banks are under siege. From new and more stringent regulations to the presence of fintech startups to widening demographics that demand more personalization than ever before, it's gotten harder and harder to stay relevant and compete. Innovation has to take into account  the hard trends shaping our marketplace  and set aside the space to anticipate and build foresight.

How do community banks survive?
Survival begins with acknowledging a few truths. Change is here, it's accelerating, and it's impacting every corner of your institution. Your customer base is no longer limited to the people who live in your physical community, and they're more insistent than ever that you understand their unique needs and personalize their experience.  That means that it now matters less where your bank is located than it does how well your leadership resembles your customer base. READ ON...


Here are additional articles related to Community Banking you may enjoy:
What Colors Make A Room Look Bigger?
by Jamie Wiebe

Most people crave spacious homes. But, sadly, the reality is often quite different. The good news: If your bedroom or office feels cramped, that doesn't necessarily mean you need to start knocking down walls or building additions to create a more open, airy ambiance. We have some answers!

A room's size, after all, is as much a matter of perception as it is the nitty-gritty square footage. One easy way to create the illusion of space is to carefully choose the paint you slap on those walls.  READ ON to learn what colors make a room look bigger, and get to it!


Here are additional articles related to Realtors® and Real Estate Trends you may enjoy:


**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                                      

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Director of Operations & Marketing
Virginia Title Center, LLC
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