What's New This Month
With any new federal administration, the real estate community can anticipate changes to policies and rules that affect our industry. This transition is no exception. The team at West Virginia Bankers Title is keeping a close watch on developments in Washington, D.C. to ensure we’re providing the best and newest information to our loyal customers, as we do our part in successfully closing their transactions.

Our industry is as resilient and dynamic as they come. We’re excited for the opportunity to work with our lending, attorney and real estate colleagues as we chart the course for more growth in 2021.

Have a great month!

Bob Drummond, Vice President/Agency Manager of West Virginia Bankers Title
We are currently hiring for a Title Insurance Underwriter! This person will be responsible for underwriting and processing title insurance policies for a large regional title insurance agency. Must be able to work independently and communicate well with Attorneys and Lenders.

Requirements include:
Excellent Computer Skills
Effective Written and Verbal Communication
Attention to Detail

Banking, legal and/or real estate experience preferred but not required.

We offer great benefits, a competitive salary, 401K and YOU CAN WORK FROM HOME!! Does this sound like you? Please send your resume to bdrummond@titlesinsured.com.

(West Virginia Bankers Title LLC. is an equal opportunity employer)
Preparing for a (Modest) Rise in Mortgage Rates
We’ve seen historically low mortgage rates for months, but many economists are predicting a slight bump in 2021. Good news: Freddie Mac expects average 30-year fixed-rate mortgages to remain under 3 percent in 2021, meaning it’s still a great time to buy or refinance. HousingWire sat down with a variety of economists to get their take on how high mortgage rates will climb and how lenders and the broader market will respond.
CFPB Pick Chopra Expected to Quickly Expand Watchdog’s Reach
President Joe Biden has nominated a current member of the Federal Trade Commission to lead the Consumer Financial Protection Bureau. Analysts expect Rohit Chopra to accelerate the agency and its consumer advocacy mission, including doubling down on enforcement and oversight, especially with it comes to COVID-19 relief. Bloomberg Law has an authoritative take on what Chopra means for the financial services industry. With all signs pointing to a reinvigorated CFPB at the federal level, many states are taking steps to implement their version of a consumer watchdog surrounding financial products and services.
ALTA’s Premier Resource for State Regulations
With all this talk about rules and regulations, we hope you’re reading this e-newsletter after your morning coffee. (As for us, the WVBT team is currently brewing another pot!) Regardless of your caffeine level, the American Land Title Association makes it easy for you to stay informed about title insurance regulations by state. These regulations are ever-changing and vary by state, and this easy-to-use tracker makes sure you’re in the know about how these shifts can affect your business’ licensing and operating requirements.
Innovation
One factor of how well lenders have performed during the COVID-19 pandemic goes back to the extent they offered a digital mortgage experience before state and local health restrictions set in. Companies that were well along their way in providing digital technologies as part of their suite of services had a competitive advantage. Now that we’re a year into the pandemic, mortgage lenders staying on top of the newest technology is even more important, especially as some analysts expect consumer behavior has been permanently altered to favor digital services.
Mortgage Trends
Record low mortgage rates are enticing some homeowners to stay put - and reap big savings by choosing a 15-year mortgage. This Money.com article follows one homeowner who went down from a 30-year loan with a nearly 3.4 percent rate to a 15-year loan at 2.5 percent. And he’s not the only one enjoying the benefits. The article notes there’s been a surge in popularity for short-term loans because of the ultra-low interest rates they offer.
Professional Development
In this fast-paced real estate market, we know many of our colleagues are hiring to meet the demands of your caseloads. Forbes offers a good primer of what to look for in a candidate and what attributes should set them apart from the pack. Passion + fit to your work culture + preparation for the interview are all good traits as you look to grow your team.
Market Highlights
All signs continue to point up for home sales! The newest data out on the housing market show sales continue to perform at their highest levels since 2006. Sales in total grew more than 22 percent in 2020 over the previous year and remained strong in December despite record-low inventory (estimates show a slim 1.9-month supply,) according to the National Association of Realtors. What to watch out for in 2021? The author expects affordability issues to become a growing concern as inventory remains tight and home prices tick up because of it.
Life is stressful. Send us your pet photos.
While the team at West Virginia Bankers Title aspires for this e-newsletter to offer the latest in industry news and trends to our trusted colleagues, we also want to mix in some fun. In this 24/7 world we’re living in, a serious real estate professional like yourself needs a break. What’s a universal stress reliever? Cute pet photos! Send us the best photo of your favorite pooch, kitten, turtle, hamster, (whatever) and a short description about them to wvbt@titlesinsured.com. We’ll be sure to highlight one each month!