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AS P3046A Title News • Volume 83, Number 2
9 COVER STORY Making Successful Presentations by Ellen Schweppe Making a presentation does not have to be a daunting experience. Many of you will make presentations as part of ALTA's public awareness campaign. Ask these key questions to ensure a smooth presentation that will meet your audience's expecta tions. Features Departments 3 ALTA News 14 22 RUNNING YOUR BUSINESS TECHNOLOGY CORNER 3 ALTA Events Calender Avoiding Garbage In, 2004 Technology Products Garbage Out in Your Title Plant and Services Directory 5 by Mark F. Cheney Browse a list of over 75+ vendors all ready to Government &Agency News Our customers now require "fine cuisine" to be help you upgrade your outdated systems or equipment, improve your operational efficien 32 processed from our title plant information, Property Records Industry Association regardless of what the input has been. Learn cy, or find new solutions to your technology some tips on data input that will ensure you needs. 39 receive quality output. Member News 26 46 16 ISSUE FOCUS Index to 2003 Title News Articles Congress 2004: INSIDE THE INDUSTRY Flipping Real Estate-- Roadblocks at Every Turn 48 The HUD Response by Ann vom Eigen Marketplace by Mark S. Lynch We know that RESPA is the hot issue right Flipping of real estate has reached epidemic now, but what else can we expect from the levels nationally. Understand the new rules 108th Congress? regarding illegal flip transactions and how to use them in your screening process. 34 EVENT SPOTLIGHT ALTA2004 Federal Conference The world of title insurance has changed and title professionals must adapt to the new regu latory environment. Learn the latest during this 2 1h day conference. www.alta.org Title News 1 leading edge A Message from the President Title News
Publi sher: James R. Maher Editor in Chief: Lorri Lee Ragan, APR Design/Electronic Production Manager: Christina Rizzoni ©2004 American Land Title Association
Title News is published bi-monthly by the American Land Title Association, 1828 L Street, N.W., Suite 705, Washington, DC 20036. U.S. and Canadian subscription rates are $30 a year (member rate); $48 a year (nonmember Funding Follies and rate). For subscription information, call 1-800-787-ALTA. Send address changes to: Title News, circulation manager, at the Shrinking Violets above stated address. Anyone is invited to contribute articles, reports and photo n ongoing topic of debate at ALTA and among some of its members has been graphs concerning issues of the title industry. The Association, however, reserves the right to edit al I material Afunding. The debate really started, at least for me, at my first Budget/Planning submitted. Editorials and articles are not statements of meeting when I discovered that the formula by which my company's dues was Association policy, and do not necessarily reflect the opinions of the editor or the Association. computed didn't really apply to some underwriters and didn't apply at all to agents. That resulted, at that time, in my dues having gone up while others in my category Repr ints : Apply to the editor for permission to reprint any part of the magazine. Articles reprinted with permission must (whose market share hadn't decreased) remained flat. It also resulted in agents carry the following credit line: "Reprinted from Title News, which did more premium volume than my small regional paying a fraction of what the bi-monthly magazine of the American Land Title Association." my company paid. That discussion resulted in a change in the dues structure which, while not yet equal, is better although still based on self-reporting. ASSOCIATION OFFICERS President The issues of equity, reliability and verifiability of Charles J. Kovaleski, Attorneys' Title Insurance Fund, Orlando, FL funding was further aired during the discussion of the President- Elect ALTA Public Awareness Campaign. The decision was Mark A. Bilbrey, Warranty Title and Abstract, Inc., El Reno, OK Treasurer made to loosely base voluntary contributions on revenue Theodore L. Chandler Jr., LandAmerica Financial Group, Inc., for the underwriters and leave it entirely voluntary and Richmond, VA Chair, Finance Committee unstructured for the agents. Christopher Abbinante, Fidelity National Financial, Inc., Chicago, IL That's fine as far as it goes but the system has a number Cha ir, Tille Insurance Underwriters Section Rande I<. Yeager, Old Republic National Title Insurance Co., of flaws. First, it seems inequitable that companies of any Minneapolis, MN stripe at the same level of revenue should pay vastly Board Representatives, Title Insurance Underwriters Section differing amounts. Second, a voluntary system allows Gary L. l
Charles J. Kovaleski AISOCIAf\ON PUBLICATIONS www.alta.org Title News 2 Thanks to Minnesota LTA calendar A special thank-you goes to the Minnesota Land Title Association for their generous contribution of $5,000 to the ALTA Corning Affiliated Association ALTA public awareness campaign. Minnesota joins five other Events Conventions land title associations who have contributed to the campaign: March April 14-16 Maryland, Ohio, Tennessee, Utah, and Wyoming. Contact 14-16 Tennessee ALTA Tech Forum 22-25 Palmetto for Lorri Ragan at [email protected] or 1-800-787-2582 New Orleans, LA 29-May1 Oklahoma more information on the campaign and how you can help. 31 May Internal Auditors Committee 2-4 Iowa ALTA Membership Meeting 6-8 New Mexico New Orleans, LA 23-25 California Committee Takes on 23-26 New Jersey April Challenge 18-20 June ALTA Federal Conference 2-4 South Dakota ALTA's Membership & Organization Committee is busy Washington , DC 3-6 Pennsylvania recruiting new members for the association. Committee 4-6 Texas May 4-6 Virginia members took President Chuck Kovaleski's challenge to 1-4 6-9 Wyoming double agent membership to heart and have undertaken a Title Counsel Spring Meeting 24-26 Arkansas Victoria, Canada vigorous membership campaign, which includes letter writing, 24-27 New England speaking at state and underwriter events, phoning potential 16-19 July members (the Phone-a-Thon in Phoenix is a prime example), Annual Internal Auditors Meeting 15-17 Illinois and searching their state association directories. Key West, FL 15-17 Utah -20 Michigan From October 2003 to early February 2004 their efforts paid June 18 off with an incredible 82 new members! Let's hear it for some 18-19 August of our top recruiters: Education Committee Meeting 5-7 Montana Baltimore, MD 8-11 New York Bob Newlon, Arizona July 12-14 Minnesota Mike Conway, Florida 23-26 19-21 Idaho Diana Nichols, Indiana Large Agents Meeting 19-21 Indiana Sally McCash, Maryland Victoria, Canada September Committee Chair Ted Rogers, Maryland August 2-4 Wisconsin 9-10 Arizona Bill Gowen, Montana 7-10 Annual Reinsurance Meeting 9-11 Dixie Judy Lehman, Tennessee Williamsburg, VA 11 -12 Maryland Sharon Sabol, New York 16-18 North Carolina October Martha Guadagno, New York 16-19 Missouri 6-9 19-21 Ohio Tim Conley, North Carolina ALTA Annual Convention 22-24 Nebraska Bryan Thomason, Oklahoma Boston, MA 23-25 North Dakota Charles Nichols, Oklahoma November Connie Sawtell, Virginia 17-19 Florida Keep up the great work! December 2-3 Louisiana www.alta.org Title News 3 ALTAnews
Sales of Board Game ALTA Public Awareness Triumphant Campaign Update A little play on words ... but HUD's proposed changes to RESPA have dominated the sales of the new board activities of ALTA's public relations firm Ervin Bell over the game "Title Triumph™: past several months. Ervin Bell had several strategy sessions The Game of Land Title with ALTA on actions to take now and when the final rule is Knowledge" are breaking published. records. The game is designed to Ervin Bell developed several articles for industry trade be a fun way of team building and publications on the value of title insurance and ALTA's view reinforcement of the topics of closing and escrow, search and that the proposed RESPA changes will negatively impact the exam, and commitment and policies. It debuted last October title industry. Articles were placed in REALTOR© magazine, during ALTA's Annual Convention in Phoenix. Members REALTOR© online and the National Relocation and Real participated in a tournament to test their knowledge on a Estate Magazine. Editorials were also sent to local newspapers variety of title topics. One round of the game can be of members of the Senate Banking Committee to state completed in 45 to 60 minutes - perfect for some lunch hour ALTA's position about the negative impact of REPSA on the fun. With 200 questions and answers, Title Triumph may be thriving real estate economy. played multiple times before repeating a question. The biggest campaign news is that the Title Industry ALTA members can order 1to10 games for $135 each, 11 Marketing Kits were mailed to over 500 ALTA members who or more for $105 each. Nonmembers pay $50 more. To order requested the kit. The kit is designed to help members your game, visit ALTA's Web site at www.alta.org and click educate local real estate agents, lenders, and consumers about on Educ/Land Title Inst., then on Title Triumph. the value of title insurance. The kit contains an "evergreen" Q&A format article that How Does Your you can add your byline to and place in a local newspaper. There are also samples of articles written by your peers to give Company Measure Up? you ideas for your own columns. Find out in the "2003 ALTA Abstracter and Title Agent A 12-minute video (or DVD) is included explaining the Operations Survey." For the seventh year ALTA has surveyed process of title insurance and why it is valuable to have. It abstracters and title agents about their operating statistics and outlines the work that goes into the title search and the other characteristics and compiled them in a report. This year preparation of documents for the actual settlement. This special emphasis was placed on types of office technology used would be perfect to run continuously in your lobby or to show by title agents. in individual closing rooms as consumers wait to meet with The information developed in the survey is helpful in you. It can also be shown to local real estate agents groups, or tracking operating results, in comparing one company with others such as Kiwanis. another, and in evaluating changes in the industry. This year Finally, the kit contains some brochures that you can hand 387 companies responded to the survey; 100 more than last to consumers at settlement. The brochures can be ordered in year. Participants receive a complimentary copy of the survey. bulk and customized with your logo. And the kit contains If your company did not participate, copies can be ordered for some sample ads that can be placed in local publications. $130 for ALTA members. To order, either visit ALTA's Web To order your free copy of the kit, fill out the form on page page at www.alta.org and go to the Publications Order Form, 25 or order online on ALTA's Web site at www.alta.org. Look or call Elizabeth Twitchell at 1-800-787-2582. under "ALTA News" for the order form. 4 March/ April 2004 www.alta.org GOVERNMENT & AGENCY news
ALTA Testifies on RESPA March 22, from 2-4 p.m. EST. RESPA experts Sheldon Hochberg of Steptoe &Johnson and Jim Maher, ALTA Executive Vice President, will outline what the proposal means for the title industry. Register online at ALTA's Web site at www.alta.org. I Bankruptcy Bill Passes ALTA was successful in including admendments in the bankruptcy bill that passed the House at the end ofJanuary. ALTA has been working on this issue, believe it or not, since 1996. ALTA has obtained amendments to overturn McConville, which failed to allow the protections given to
Stanley Friedlander, ALTA Immediate past-president, testified before purchasers under the Bankruptcy Code to also be given to the House Small Business Committee that the proposed changes to lenders. Consequently, a lender's security interest was set RESPA will have a negative Impact on the title Industry. aside after the borrower filed an undisclosed bankruptcy. Stanley Friedlander, ALTA immediate past president, testified ALTA sought amendments to clarify that a post petition before the House Small Business Committee at a hearing in transfer is valid and exempt from the automatic stay of January entitled "Real Estate Settlement Procedure Act bankruptcy. All the ALTA provisions were included in the Regulations: Working Behind Closed Doors to Hurt Small House bill. As of press time, the Senate version of the bill Businesses and Consumers." had not yet been introduced. Friedlander highlighted why ALTA believes HUD's For more information on this issue contact Ann vom Eigen, proposed changes will have potentially adverse effects on ALTA's legislative/regulatory counsel, at consumers, the mortgage settlement process, and small ann_ [email protected] or 1-800-787-2582. businesses. Other industry organizations agreed with ALTA's assessment. Representatives from the National Association of Caller ID Rules in Effect Mortgage Brokers, Mortgage Bankers Association of While you probably do not consider yourself a telemarketer America, National Association of Realtors®, and the or making calls to a potential customer as a telemarketing Independent Community Bankers of America agreed that call, beware; the Federal Trade Commission and the Federal since the housing sector is currently so strong, now is not the Communication Commission may. As of October 2003, time to come out with a change to RESPA. Chairman businesses need to consult the Do Not Call Registry, unless Manzullo agreed and said that HUD is disregarding a certain requirements have already been met, before placing a directive from President Bush to review how proposed rules solicitation call. Since January 2004 businesses are now will effect small businesses. required to transmit caller ID information when placing a The Office of Management and Budget (OMB) has 90 call. The information displayed must include a phone days to review the rule and will have access to industry number that the individual may call during business hours to comments (including ALTA's) that were sent to HUD last place a do-not-call request. Please contact Charlene Nieman, year. ALTA expects HUD to have its proposed RESPA rule grassroots & PAC manager at [email protected] or back from the OMB in mid-March. 1-800-787-2582 for further information. Mark your calendar to join ALTA for our first analysis of the RESPA regulations in a telephone seminar on Monday, www.alta.org Titje News 5 GOVERNMENT & AGENCY news
A Special Thank-you I GSE Reform Legislation We would like to thank the many ALTA members who Advances responded to an Action Alert and sent letters and e-mails and As a result of press and political controversy over the visited Members of Congress on the issue of RESPA. See the restatement of Freddie Mac's earning last year, the following page for a list of ALTA members who participated in Committees on Capitol Hill with jurisdiction over the this important effort to encourage Congress to contact the housing secondary market and the Office of Federal Office of Budget and Management, which is currently Housing Enterprise Oversight Board---thefederal regulator reviewing HUD's proposed RESPA rule. of Fannie Mae and Freddie Mac -have begun to review agency actions and the structure of their supervision. Radian Loses Chairman Mike Oxley (R-OH) and Rep. Richard Baker California Appeal (R-LA), key players in the House Banking Committee, held a series of hearings on the agency operations last fall and Radian's appeal to the California Superior Court to have the came close to reporting legislation. This spring the Senate cease and desist order against them lifted has been denied. Banking Committee is continuing its hearings on the Radian's arguments in favor of lifting the order were that RLP Government Sponsored Enterprises. Committee members was not title insurance and that the mortgage guaranty statue have begun to focus on the possible structure of a new allows Radian to sell the RLP because the mortgage guaranty Federal regulator for the housing GSEs and the Federal statute trumps the monoline requirement in the title insurance Home Loan Banks. statue. Early in February Comptroller General David Walker, The Court found that Paragraph 6D of the RLP converts head of the General Accounting Office, the program and what would normally be a mortgage guaranty insurance policy financial audit arm of Congress, testified before the Senate into a prohibited combination of mortgage guaranty and title Banking Committee in favor of creating a regulatory agency insurance. The Court also found that the Radian Lien with a strong executive director backed by an advisory board Protection constitutes a prohibited combination of mortgage consisting of the heads of other agencies. Comptroller guaranty and title insurance and that it does not protect the General Walker's recommendation is one of several possible lender against financial loss arising solely from default, as models proposed in a regulatory restructuring that ranges required by the CA Insurance Code. The Court further found from a regulatory structure within the Department of that the monoline requirement applies to both title and Treasury to breaking up and privatizing the secondary mortgage guaranty insurance, meaning that if a company is market entities. The ongoing debate is centered on the licensed to sell one line of insurance, it cannot sell another line. tension involved between the regulation of the companies' You may recall in June of 2002 the CA Department of safety and soundness and core capital requirements and the Insurance issued a cease and desist order to Radian, which housing entities' ability to fulfill their charter and politically forbade them from selling the RLP. In December 2002 motivated requirements to support the American housing Administrative Law Judge Leonard Scott sustained that order. market. Chairman Richard Shelby (R-AL) has indicated On July 18, 2003, the CA Insurance Commissioner approved that he would like the Banking Committee to consider the Order as final. Radian's most recent Petition for Writ of legislation in March 2004. For more information contact Administrative Mandate was denied. It is unclear at this time Ann vom Eigen, ALTA's legislative/regulatory counsel, at whether an appeal will be filed. For more information on [email protected] or 1-800-787-2582. Radian's Lien Protection and title insurance, contact Jim Maher, ALTA's executive vice president at [email protected].
6 March/April 2004 www.alta.org ALTA thanks you
ALTA wishes to thank everyone who re ponded to our January 2004 Action Alert on RESPA. Our goal was to reach Members of Congress and President Bush and request their assistance by asking them to contact the Office of Management and Budget (OMB). OMB is currently reviewing the rule and one of their options is to the send the rule back to HUD without approval to go forward. ALTA thanks the following individuals who used our electronic system for sending their letters. We realize many more of you sent letters and called in response to the Action Alert, so though your name may not be listed, thank-you for your response and efforts. Ifyou would like more information on how you can become involved in our gra sroots program, please contact Charlene Nieman, grassroots &PAC Manager at [email protected] or at 1-800-787-ALTA ext. 233.
Christopher Abbinante (IL) Diane Evans (CO) Jeanette Liesen (WI) David Santosuosso (NJ) Janet Alpert (VA) Larry Farin (CO) Regina Lix (MO) Neil Savad (NJ) Chip Ames (TN) Ken Ford (NY) Kara Lobdell (NY) Michael Schneider (FL) Laura Ayers (TN) Tiffany Fortenberry(FL) Michael Lowtlm (CA) Tina Sears (MT) Tania Baker (FL) Charles Foster (VA) Suzanne M. Lutz (PA) Michael Sexton (FL) Paul Bensch ( D) Michael Franklin (OH) Vikki M. Magdich (MI) William Shea (CA) Mark Bilbrey (OK) John Freyer (CO) Michael Massey (NH) Kathy Simandl (FL) Elaine Black (FL) Stanley Friedlander (OH) Melvin Maxwell (LA) L. Virginia Sims (NY) Jeffrey Bosse (IN) David Friend (MD) Ken McBride (OK) Michele Skupic (CA) David Box (TX) James Gallaway (FL) Matt McDonald (TN) Jane Smith (VA) Stephen Braud (LA) J. Michael Garner (TN) Jane R. McHenry (GA) Robert Spezialetti (PA) Jeannine Capozucca (NY) Norwood Gay (FL) Donald M. Mewhort III (OH) Charles T. Steele, Jr. (NC) Lynn Caudle Boynton (MD) Lynn Getman (FL) Barb Mikielski (PA) Douglas Stevens (FL) Theodore Chandler, Jr. (VA) Sheldon Glatt (NY) John Minor (GA) Matthew Thar (TX) Carlton Chase (MD) Rebecca Goncalves (FL) Tyler Moore (IN) Debra Theisen (FL) Mark Cheney (AZ) Don Goodner (AR) Kate Morgan (MO) Christy Trotter (FL) Diane Cipa (PA) Sherri Hellenbrand (NY) Malcolm Morris (TX) Sal}. Turano (NY) Patti Connell (DC) Deborah Henderson (FL) Tracy Pace (FL) Erin Doherty Turcotte (MA) Randall R. Conrad, II (WV) S. Renae Henry (FL) Shannon Partin (FL) Laurence Usignol (NJ) Paul Cozzi (IL) Linda Hernandez (FL) Bonnie Pennuto (FL) W.B. Volbracht (CO) Mike Dalton (MO) Peter Hofstra (FL) Nancy Phillips (MO) Ira Waltuch (NY) Michael Dalton (UT) Mickey Hopper (FL) Rose Pothier (CA) Amy Weedman (MO) Jeffrey Danielson (MN) Jame Hunt (OH) John Proffer (MI) Richard Welshons (MN) Katie Deadmond (MO) Kanette Huyett (WV) Chrysti Protsch (SD) Melanie White ide (MO) Christine Dean (MO) Keith Jones (VA) Mike Pryor (AR) Michael Wille (WI) Vickie Deaton (FL) Gary Kermott (CA) Riker Purcell (VA) Frank Willey (FL) DonaldJ.Denny (OH) John Kidd (TN) David Reddinger (NY) Pamela}. Williams (MO) Cara Detring (MO) Charles Kovaleski (FL) Marlyn Redman (ND) Mark Winter (DC) Peter DiSanti (FL) Mitchell Landry (LA) Kevin Renfro (TN) Cheryl Wood (MO) Betty Dobbie (DC) Carl Langner (M ) Ricardo Rivera (NJ) Rande Yeager (MN) James Dufficy (CA) Beverly Latham (MO) Susan Rodriguez (IN) Rachel Young (MO) Angela Duggan (IN) Edward Lautenschlager (VA) Theodore Rogers (MD) Douglas Yount (FL) Marsha Duncan Laner (MO) Randy Lee (TX) Bill Ronhaar (WA) David Zein-Eldin (FL) William Eritz (PA) Donna Legler (WA) Stasio Rusek (GA) www.alta.org ntle News 7 ICLOSINGSDIRECT SOFTWARE Tl !AT MAKE A DIFl'ERENCE iMAGINE iNNOVATE iMPROVE THE POSSIBILJ TIES ARE ENDLESS
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Making Successful Presentations Some studies say people fear public speaking more than death. Making a presentation does not have to be daunting if you prepare ahead of time. by Ellen Schweppe
ou've been Here are the key questions to ask includes video and PowerPoint asked to give those organizing the event to make presentations about the value of title a speech. Or sure you know what to expect and can insurance that are appropriate for you are meet the audience's expectations, as consumer, industry, and employee making a well as important questions to ask audiences. (See page 25 to order.) presentation yourself as you plan your presentation. on the value Once you have a plan, use the tips QUESTIONS TO of title below to write and deliver a speech ASK EVENT ORGANIZERS insurance as that-whether your goal is to educate What is the topic? The organization part of ALTA's Public Awareness or motivate-stays with the audience may have a general or specific topic in Campaign. Once you confirm the long after the event is over. mind, or leave it up to you. While you time, date, and place, what else do you You can use these tips in should try to accommodate the need to do before you step up to the conjunction with ALTA's Title group's wishes, make sure the topic is podium? Industry Marketing Kit. The kit appropriate for getting your message www.alta.org Trtle News 9 cover story
Annual business meeting? Tips From a Veteran Speaker Informational or educational seminar? Knowing why the audience is there will help you tailor your remarks to he key to a successful presentation is "practice, practice, their needs and expectations. practice," says Anne Anastasi , a title industry veteran who What time of day is the speech? T speaks regu larly to business and industry groups. Speaking to a post-breakfast crowd "Practice out loud , standing up, until you have the tim ing and flow full of caffeine can be quite a different down ," says Anastasi , president of Genesis Abstract Inc. in Hatboro, PA, experience from making after-dinner and member of ALTA's Public Relations Comm ittee "Practice enough that remarks to an audience full of good you can relax while you 're giving the speech ." food and spirits. If it is a multi day While Anastasi speaks on a variety of motivational , educational , and event, find out if you will speak on informational subjects, her most requested talks are on providing good day one when audience members are customer service , establish ing affiliated business arrangements, and fresh or day three when they may be understanding how title insurance works. focused on catching their flights No matter what the topic, she starts by preparing an outline of what she home. How long should the speech be? plans to cover and research ing anyth ing she doesn 't know about the sub Ask for guidance on how long the ject. "I try to find the meat of the topic so that people learn something organizers would like you to speak, from the presentation ," she says. "I don 't want to waste people 's time. It's but don't feel compelled to fill every not fair to them. " minute assigned to you. Say what you She organizes her points so that the audience can fol low them easily. need to say and stop. On the other She normally uses a PowerPoint presentation to reinforce her points dur hand, don't go over your allotted ing educational speeches, but she doesn 't find audiovisuals a necessity for time. You don't want to overstay your most motivational talks. welcome with the audience or throw On the inevitable occasion when the screen is blank when the projector the event schedule off. Ifyour time goes on , Anastasi takes advantage of the opportun ity to inject humor into slot is the typical 45 minutes, a good the presentation. "I do hand puppets to make the audience relax," she guideline is to speak for about 20 says. "Once I get them laugh ing , I've got them where I need them ." minutes. That leaves five minutes for your introduction, 15 minutes for a Getting the audience on your side is not as difficult as some speakers question-and-answer session, and five might think, she adds. "Ninety-nine percent of the people in the audience minutes to get the event back on are pulling for you because they don 't want to be standing up there ," she schedule if earlier speakers went over. says . Who will be in the audience? And If the topic is controversial , Anastasi acknowledges that audience mem how well do they know your topic? bers may disagree with her point of view. "Respecting your audience is Audiences unfamiliar with your important, particularly in a hostile environment," she says. subject or issues may appreciate more When she speaks to a group, Anastasi prefers to move around rather explanation, while audiences who than stand behind a podium . She also finds several receptive-looking audi took the same college classes you did ence members to make eye contact with, a trick that boosts her adrena may expect a greater level of technical line . And she makes an effort to relax so that she can think on her feet, detail. Be prepared to adjust your deal with distractions, and turn any mistakes into opportunities to use humor. remarks accordingly. It's also helpful to know the "Do whatever gets you to the point where you can relax wh ile you audience's attitude, whether it's speak," she says. "For me, it's being prepared. And that means practice. " supportive, neutral, or even hostile. Some audience members may not agree with your point of view, but across to the audience (which, of the event has a theme you can weave they are more likely to respect you if course, is why you should give a into your remarks. you give a thoughtful, balanced speech in the first place). If the group What is the occasion? Awards presentation that acknowledges their doesn't have a topic in mind, ask if dinner? Networking luncheon? concerns.
1 0 March/Apri l 2004 www.alta.org cover story
Who else is speaking? And what everything in your speech should lead and-true method is to tell them what do they plan to talk about? This is the audience to this conclusion. you're going to tell them, tell them, particularly important if you are participating in a panel discussion in Practice, practice, practice. Audiences can tell which speakers will express a variety of perspectives and opinions. You'll whether a speaker is prepared or just read the want to be prepared with your speech in the taxi on the way over. strongest arguments so you can effectively counter what those who What are the three-to-five key and then tell them what you've told hold the opposite view may say. Even points you want to make? Limit your them. That means starting with an if you're giving a solo speech, it's good messages to the most important so introductory statement on the key to know what the audience will hear your audience will actually remember points you plan to make, going into from other speakers during the event. them-----and act on them. It's tempting detail on each point, and ending with to pack as much information as you a summary of the points that leads the QUESTIONS TO ASK YOURSELF can into your remarks, but if you try audience to the inevitable conclusion What do you want the audience to do to tell your audience everything, they of what you want them to do or or think after hearing your speech? may come away with nothing. think. Support your organization's position? What's the best way to organize What examples, statistics, Use your company's services? Vote for your remarks? Remember that anecdotes, case studies, personal you? Donate money? Volunteer for audience members are listening to experiences, etc., do you have to back your cause? Be better employees, your remarks, not reading them, so up and expand on your key points? citizens, students? This is the most organize the speech in a way that is Connect with the audience by important question because easy for them to follow. One tried- offering striking evidence for each of
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your points, whether it is strong ones, and simple sentences instead of way to test whether you're using a statistics, compelling arguments, or complex ones. Use familiar words, and natural, conversational style is to read interesting stories. Again, audience avoid unnecessary jargon that could what you've written out loud. Ifyou members are listening, not reading, so confuse listeners. stumble over words or phrases, change resist the temptation to overload them Make it interesting. Once you've them to words that come out of your with every detail you have. Choose determined your message and key moutl1 more easily. the best. points, figure out how you can make Are audiovisuals or props necessary them meaningful to the audience. TIPSFORGMNG for your presentation? If they are, Relate your message to their YOUR PRESENTATION make sure they are high quality and perspective by talking about audience Practice,practice,practice . .A.udiences add value to your spoken message. benefits-by answering the "what's in it can tell whether a speaker is prepared And keep in mind that less is more. for me?" question. or just read the speech in the taxi on You want the audience to remain Use the anecdotes, statistics, the way over. Practice while standing focused on you, not nodding off in quotations, and observations you've up, in front of a mirror or a trusted the dark while you cycle through a gathered to make your message colleague or two. Go through the series of complicated slides. An concrete: 'When you buy a home, entire presentation several times to alternative is to distribute a handout what you don't know can cost you. work out any kinks. This also will after your remarks (again, you want the Too many homebuyers without increase your familiarity with the audience's attention on yoo----mtyour owners' title insurance find that out. material and raise your confidence written materials--while you speak) that That includes the couple who bought level for when it comes time to really outlines or expands on your message. a home from a widow, not knowing a deliver. Ifyour presentation involves long-lost son would come back to Hone your delivery. How you audiovisuals, have a plan for what to make a claim on his father's estate. In deliver your speech is as important as do if something goes wrong. Instead fact, one in four property transactions what you say. Project your natural of spending several awkward minutes has a title problem." confidence by keeping in mind that fumbling with a computer or slide projector that stops working, have a Use these tips in conjunction with ALTA's Title paper copy of your presentation handy so you can pull it out and keep going. Industry Marketing Kit. The kit includes video and PowerPoint presentations about the value TIPS FOR WRmNG title insurance, appropriate for consumer, YOUR SPEECH of Put it on paper. Resist the temptation industry, and employee audiences. to wing it, even if you believe you know your subject well. Whether you Write a strong conclusion. This is you are an expert. That's why you prefer to speak from talking points or what you've been building toward, so were invited to speak. Position your a complete script, putting your make it count. Repeat your main body so that you can move remarks on paper will help keep you message. Summarize your key points. comfortably, and move away from the on track with your message. It also And make it clear what you want the podium if you can. Use natural will free you to focus on engaging audience to take away from your talk. gestures, but make them bold enough your audience and delivering your Tell them what they can do with the to be seen throughout the room. message with enthusiasm. information you've presented, and Vary the loudness of your voice and Keep it simple. You're writing for how they can take that action. You the rate at which you speak to create the ear, so audience members can't can use a variety of techniques to emphasis and enthusiasm. Let your reread a section of your remarks if make your conclusion memorable, passion for what you are talking about they don't understand it the first time. such as telling a story, sharing your shine through, and don't be afraid to Structure your talk so it is easy to personal philosophy, asking a show some emotion if the topic calls follow (remember the "tell them what rhetorical question, or issuing a for it. you' re going to tell them, tell them, challenge. .A.t the same time, use eye contact tell them what you've told them" Write the way you talk. And use to connect with the audience and adage). Choose short words over long language that's right for you . .A. good convey your sincerity. Don't sweep the cover story
room with your eyes or spend the person who introduced you. Open aside and look to the event organizer entire speech looking at one spot. your folder on the podium or table. If to handle the situation. Instead, look at one person until you you're using a microphone, check its Ifyou don't know the answer to a finish a complete thought and then position in case another speaker has question, say so. Offer to take the move on to someone else, just as you moved it. Stand up straight with your questioner's business card and get would in a natural conversation with a weight evenly distributed on both back to him or her with the group of people. feet. Look at the audience for a few information requested. End the Scope out the room in advance. seconds to connect with them and session with a positive question, or Make sure everything is set up the allow them to get settled. Now it's wrap it up on a high note with a way you want it. Adjust the lighting, show time! summary statement that leaves your temperature, or window coverings, if Conduct the Q&A session message in the minds of the audience necessary. Check the microphone and skillfully. If your presentation includes members. audiovisual equipment. Make sure you audience questions at the end, figure Ellen Schweppe is have a glass of water and handkerchief out the most likely ones in advance president of Ellen within easy reach. Plan to carry your and prepare short, pithy answers. If Schweppe Company, presentation to the podium to avoid nobody asks a question at first, be LLC, an editorial having another speaker pick it up by prepared with some of your own. services firm serving mistake and walk away with it. Have Be ready to handle tough questions the financial services it in a folder or portfolio that opens without becoming defensive or angry. and other industries. flat, with each page numbered. If a questioner gets out of hand, you She can be reached Set the stage for your presentation. can cut him off politely but at [email protected] or 703-435-5621. Walk confidently to the front of the definitively and move on to another room and shake hands with the person. If that doesn't work, step
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www.alta.org ntle News 13 running your business
Avoiding Garbage In, Garbage Out in Your Title Plant The title plant is the lifeblood of the county title department. Here's how to ensure that you input quality data and do it in an efficient manner. by Mark F. Cheney oumay of those surveys to see which might so it is imperative that data input is remember this affect the one property being verified by a second party. Start by old data searched. His answer was in essence, employing someone who can easily processmg 'Well, that's the way we do it." No review a long metes-and-bounds legal phrase from a apology, no empathy for the users, like a speed-reader reads a long book. few years back. and no attempt to correct the Someone with a background in title Unfortunately, it procedure. (I think he must have and/or surveying would be good, but still holds true for the title industry. been the programmer.) the right person could be trained to Our customers now require "fine After forty years of dealing with do this. Also, use the software cuisine" to be processed from our title computer information and title issues, program itself to weed out errors. plant information-regardless of what I have reached the following Build parameters into the program the input has been. In order to meet conclusions about how title that limit your title plant's acceptance this standard, it is a prerequisite that information services can overcome the of erroneous data. For example, if you we provide our title officers with most obvious concerns in posting data have a county that only covers prime information services, not errors to a title plant: township numbers 8 through 17 and confusion. First, it is important to be able to north, it should not accept any In addition, it is also important that accept the contribution to the number in the township field below 8 we take a look at our systems to make programming process of a good title or above 17; the same is true of the sure we are collecting the information officer, who has seen and used a few range field. Also, why make a user we need in an efficient manner. I title plants in a fairly long career. Do enter an n into the township field if recently confronted a plant not let a programmer design the plant there are no south townships in the representative with a practical --f)mething like letting Rush entire county? If a subdivision only problem in a title plant. They were Limbaugh create a charm school. has 120 lots, don't allow the program posting all surveys to the general Hire a programmer with enough to accept a posting to lot 144; or if posting of the sectional postings or common sense and humility to know only 12 blocks, to a block 15. A the subdivisions, and not to specific she doesn't know everything! A title generic title plant program to be used properties (arbs) or lots, which plant should be designed with the end in all counties must have sometimes involved over twenty user always in mind. Recently a programmable "switches" to allow for different survey plats. I explained that county assessor's office made a big the limiting parameters mentioned it was a practical impossibility in a show of asking for input from the title above. After data is input into a plant production-driven office to look at all companies in an area, but in the end index, look at that data on the not a single change based on that extremes of the alpha and numeric Mark F. Cheney is operations input could be detected. Why? spectrum, and ask if they are logical. manager for Chicago Title in Because the bureaucracy didn't feel Did a typist 'stutter' on the first letter Prescott, AZ. He has 31 years experience in the title business any obligation to do so - no customer of a name, e.g. Ssmith? Why not and is a past president of the satisfaction interest. Plant services program the plant to catch such Land Title Association of must not be allowed to have that anti anomalies? Even the spell-checker in Arizona. He can be reached at: customer attitude. Word caught this one. [email protected]. Nobody is going to post perfectly, As for erroneous legal descriptions
14 March/April 2004 www.alta.org running your business
on documents, they must be searching experience) but should be above effort is made to create a researched to determine why they are used to post quickly and to be easily program worth using. erroneous. If they have been recorded read. The wrong kind of shortcut With increasing demands for lower in the wrong county, then the general make you lose a posted document in priced products tliat can be provided index is the best place for them. If the general index or the geographic more quickly, the title plant is the they are erroneous legal descriptions, plant before you can say, 'What lifeblood of the county title only the courts will ultimately decide happened?" department. Don't make these whether or not those documents give By programming for the ability to demands, which will increase over constructive notice to the world, so try search for all names throughout the time with more bundled services and to get them posted where they belong, plant, with first names indicated, you shorter escrow periods, impossible to not where ~ey incorrectly indicate will allow a searcher to find meet by handcuffing your people to a they belong. Use recognizable or documents that are somehow plant that is less than it can be. logical icons, include multiple search misposted, either alphabetically or Whether you are computerizing an options, and allow for easy access of geographically. Fortunately, it is old tract book, a "slip" plant, one from information. common practice to check for fiche jackets, or building one from Teach posting personnel to post nicknames in almost all plants now scratch using the county records, take popular bank and real estate company when running a general index or the time now, spend the money names,and other repetitive items the name search. necessary, and get a quality product up same way. Consistency is one of the Finally, charge more for the front. Only then will your title most critical factors in developing a product if you must, but hire quality personnel be capable of giving you the usable plant. Abbreviations may only people who will do whatever is production you need and the product be used according to an approved list necessary and have the experience to that your customers require. provided by management (with post the plant properly after all of the Mankind Has Ev61)ted Nicely... Why Hasn't Your Closing Software? J
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Flipping Real Estate The HUD Response Flipping of real estate has reached epidemic levels nationally. Learn how H UD is getting involved and the red flags to alert you to potential flip transactions. by Mark S. Lynch The Baltimore, MD, over 2,000 individual WHAT A FLIP LOOKS LIKE intercom on properties were resold within 120 days While variations on the following your desk at profits ranging from twice the scheme have occurred in urban buzzes and initial acquisition price to ten times centers throughout the United States, the voice on the original price. In the city of the following is a "typical" flip the other end Cleveland, OH, approximately a transaction. inquires if thousand individual properties, with As an initial step, an unscrupulous you are over 8QOA> occurring in the lowest real estate speculator acquires typically available to speak to representatives of income areas were the subject of run-down or abandoned properties in the Internal Revenue Office, The U.S. flipping activities over a three-year low-income and/or depressed Department of Justice, and the period. National housing fraud task neighborhoods. Before the acquisition Federal Bureau oflnvestigation, all of forces, some formed as early as 1997, of the property at its "as is" condition, whom are assembled in your lobby for have focused on approximately 50 the speculator performs minor the stated purpose of reviewing a U.S. cities where the default rate on cosmetic repairs while seeking number of investor settlement files FHA loans exceeded SOOA> of closed prospective purchasers among renters closed by your office the previous loans and have resulted in numerous with low incomes and marginal credit. spring. This scene is being replayed fraud prosecutions and convictions of At the same time, the speculator will thousands of times across the nation loan officers, settlement agents, typically enlist the aid of a local as anti-flipping initiatives are unveiled appraisers, attorneys, and mortgage mortgage broker who specializes in to combat this endemic problem in brokers. Targeted cities for review "creative financing" rather than a the real estate profession. have included Asbury Park, NJ, traditional institutional portfolio During the past several years, there Annapolis and Baltimore, MD, lender. has been widespread media coverage Atlanta, GA, Los Angeles, Chicago, Once a prospective buyer is lured of this growing abuse in the real estate and Broward and Dade counties in by the assurance of the investor that industry known as house flipping, Florida. With victims numbering tens only a nominal down payment is where distressed properties are of thousands nationwide, these abuses necessary, sometimes as low as $100, purchased and resold within a short not only have affected innocent an examination of the property reveals time period after little or no verifiable purchasers but also have begun to that although in a depressed rehabilitation. In a four-year period in impact upon tax assessments in the neighborhood, the property appears affected neighborhoods targeted by attractive with its freshly painted Mark S. Lynch is vice the flippers. Each flipped property interior and exterior. The interior may president/Maryland state sends an inflated price signal also have new, albeit substandard, agency counsel for First influencing the judgments of other carpeting and newly installed American Title Insurance sellers and buyers in the same housing appliances, although little if any Company in Baltimore, MD. This article is an excerpt from market who do not recognize the substantial renovation or repair has his presentation during ALTA's properties as unreflective of the been accomplished. The unsuspecting 2003 Annual Convention . market and that adversely affect the buyer accepts the offer of the investor Mark can be reached at [email protected] marketplace. to sell the home for $30,000, unaware or 1-800-445-6024. that the investor purchased the
16 March/April 2004 www.alta.org inside the industry
property just weeks ago for $18,000 home, are singularly unaware of properties creates an artificial market and put only $2,000 in cosmetic perhaps the most significant and often value of homes in the area. Many repairs. fatal financial decision of their lives. times appraisers, overworked, lazy, or The investor and the mortgage With a profit of $20,000 as illustrated deficient in their market research, broker assure the soon-to-be below, the investor is on to the next utilize comparables given to them by homeowner that all the "paperwork" deal after an investment of time and the investor without independent necessary to process the loan will only ownership in the distressed property verification of the information. More be a formality. Because of the for less than a month. often than not, the comparable homes appraiser are purchaser's modest income and the Inflated Sham Purchase Price $60,000 values submitted by the need to make the loan look attractive Less fictitious deposit - 5,000 other "flipped" properties, and the on the secondary mortgage market, Less fictitious 2nd trust -15,000 inattentive appraisers may not even almost all the information on the loan Less Actual cost - 8,000 notice that many of the comparable application, sales contract, and Less Minor Repairs - 2,000 properties were sold within montl1s of settlement documents is enhanced, the proposed transactions, many times embellished, or outright falsified. The Proceeds to Seller $20,000 by the same investor submitting the purchase price is listed as $60,000 current contract. rather than the $30,000 agreed to. Because the purchaser's were never The $500 deposit magically becomes really qualified by traditional income WARNING SIGNS $5,000, and the investor agrees to standards of mortgage lending, Here are some warning signs that the hold a second trust of $15,000. The generally unsophisticated in the sale might be a potential flip investor also secures an appraisal from handling of money, and often subject transaction. an independent appraiser who to unemployment because of low 1. An unrecorded deed being "held" appraises the property at the contract training and educational standards, by the settlement agent pending price of $60,000, using com parables in they rapidly fall behind in the the "flip." the same neighborhood, which are, payments, and the loan subsequently 2. High valuations for personal typically, companion flip properties. goes into foreclosure. When the property on loan applications. At settlement, the investor rushes lender obtains a preforeclosure 3. A report of title disclosing the the purchaser through the process, appraisal, typically this is the first owner of record being other than assuring the anxious new homeowner instance that the true value of the that reported on the binder of that "everything is in order and the property ($18,000 to $20,000) comes title insurance. For example: "Fee papers are just a formality." Typically to light. ownership in John and Mary the purchaser is induced to sign the papers without reading them and is While many flipping schemes depend upon the frequently not given a copy. dishonesty of the appraiser to present value and Oftentimes, the caring investor will suggest to the purchaser that since the induce a lender to make a mortgage loan, many execution of the loan documents is times honest though careless appraisers serve the simply a formality, the purchasers can execute a power of attorney to enable task almost as well. a party, typically one designated by Jones, Equitable ownership in the investor, to take care of that IS THE APPRAISER Investor:' necessary burden of paperwork. For AUNAYS DISHONEST? 4. A power of attorney prepared on many investors, the opportunity too While many flipping schemes depend behalf of the purchaser conduct the closing in the settlement upon the dishonesty of the appraiser significantly in advance of closing agent's offices, without the physical to present value and induce a lender for no apparent reason. attendance of the unsuspecting to make a mortgage loan, many times 5. Altered deeds, instruments, and purchaser, is an opportunity to honest though careless appraisers loan documents or documents tempting to pass up. The purchasers, serve the task almost as well. Because executed by a power of attorney typically placing trust in the many flip transactions occur in granted by the purchaser fraudulent investor, who has given specific neighborhoods targeted for significantly in advance of the them their first hope of purchasing a flipping, the rapid turnover of closing. www.alta.org Title News 1 7 inside the industry
6. Multiple transactions in a fraudulent abuses of HUD loan rapid resales of property with large narrowly defined geographical products sought to attach liability to escalations in purchase prices. area and/or multiple sales by the persons and/or entities that make, The 90-day Rule: Any proposed same investor in a geographical present, or submit a false statement or resale involving FHA financing may area. a material omission of material fact in not occur 90 or fewer days from the 7. Settlement fees to the agent an FHA loan application. The last sale of the subject property; the conducting the closing grossly in penalties for culpable conduct as previous sale date under the excess of settlement fees charged determined by an administrative law regulations is deemed to have been in non-flip transactions. judge may include, in addition to established by the HUD-1 settlement 8. Absence of photographic monetary fines, the penalty of statement. The final rule also requires identification of the parties to the "debarment'' which is an verification that the seller of the transaction contained in the administrative sanction excluding the property is the owner of record and settlement agent's file. culpable party from doing business permits verification in the form of a 9. Unrecorded and/or unexecuted with any of 28 federal agencies, property sales history report, a copy of second trusts naming the investor including but limited to, HUD and the recorded deed, or other In response to HUD-financedflipping schemes of the 1970s in urban areas ofAmerica, Congress passed the Program Fraud Civil Remedies Act of 1986, which became effective in August of 1988.
as the secured party. the Veteran's Administration, for as documentation in the nature of a 10. Gift letters oflarge monetary long a period of time as the property tax bill or title insurance amounts, contractual references to administrative judge may determine. binder detailing current ownership of "decorating allowances," In a national effort to protect FHA the property in question. unspecified repair allowances, and buyers from the effects of predatory The 91-to 180-Day Rule: If the large monetary deposits for lending endemic to property flipping, proposed sales price of the subject properties of modest values. HUD has promulgated specific anti property exceeds the sale price 11. Deposits made in cash as earnest flipping regulations to establish a established by the seller's acquisition money deposits. regulatory framework. These new settlement sheet by 100% or more, the 12. Routine conduct of closings rules, effective as ofJune 2, 2003, set a regulations impose the additional significantly after the close of timetable for the eligibility of certain requirement of supplemental property business hours on a repetitive real property for FHA financing and value documentation. This additional basis. impose certain previously unrequired documentation, the costs of which While the presence of any conditions. may not be imposed on an FHA individual item in the listing above Under the promulgated rules, FHA buyer, shall be in the form of a may not suggest a sham transaction, insured mortgages may only be made secondary appraisal from an multiple combinations in the same file to prospective purchasers from independent appraiser. While the should suggest that such files require a owner's whose interest in the property mortgage lender may also document closer examination, especially if the is of record. This specific element of rehabilitation costs and expenses, the property in question is located in the rule is designed to eliminate seller documentation may not replace urban-targeted areas. "double escrow'' closings where the the requirement of the secondary seller's interest in the property is appraisal. REACTION BY HUD pursuant to an unrecorded deed from The 5% Rule: If the proposed sales In response to HUD-financed the owner of record or an unrecorded price is 5% more than the lowest sales flipping schemes of the 1970s in assignment of a contractual interest of price of the subject property during urban areas of America, Congress the investor/ seller. the previous 12 calendar months, the passed the Program Fraud Civil Additionally, HUD has imposed regulations empower FHA with the Remedies Act of 1986, which became timing rules to determine the right to require additional effective in August of 1988. This eligibility of property for FHA documentation, which may include, initial weapon in the arsenal against financing that are targeted to address but is not limited to, a secondary
18 March/April 2004 www.alta.org inside the industry
independent appraisal. the real property assessment records of Legitimate lending institutions, in Exceptions to the 90-day Rule: unsuspecting neighbors. Because sale an effort to curb the abuses and losses • Relocations of employees under prices of properties are a matter of triggered by flip or equity-skimming property acquisitions by employers public record, they create statistical transactions, have moved to require or relocation companies. • HUD-REO programs are exempt It is the hope and expectation of HUD that although subsequent resales must these newly implemented rules makingjlipped meet the requirements and guidelines of the 90-day rule. properties ineligible for HUD financing will • Sales by new homebuilders or protect FJ-IA. homebuyers. circumstances where a builder is building a home for a specific comparables to state and local tax the settlement industry to provide buyer. assessors utilized in the formation and Source of Title certifications. The It is the hope and expectation of calculation of real property tax purpose of the certifications, whether HUD that these newly implemented assessments. The artificially inflated known as source of title or otherwise, rules making flipped properties purchase prices based on fraudulent is to document and flag certain types ineligible for HUD financing will appraisals tend to drive up ofloan transactions that have become protect FHA homebuyers from neighborhood assessment values in the frequent vehicle of flipping and/or becoming victims of predatory areas targeted by investors for flip equity skimming. These red flag practices. transactions, thus making innocent transactions are typically broken down Another significant fallout of the homeowners who have not refinanced into four categories: practice of flipping is the artificial and or conveyed their properties subject to • Loans to occur simultaneously detrimental effect that flipping has on higher real property tax assessments. with any other sale or financing of
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the property securing the loan in the proposed borrower has not yet criminal and civil penalties for those question. These simultaneous acquired a record interest in the who engage in these fraudulent closings are often described in the property. practices are a significant step forward real estate industry as "double All of the above transactions cannot and is an additional critical element in escrow," "double closing," "flip be deemed fraudulent by definition, the control and eradication of industry sales" "pass through," "equity but rather are transactional vehicles abuses. The process of buying and skimming." more subject to incidents of fraud and selling a home is a stressful and • Transfers of the record title where dishonesty and deserve a closer confusing series of events even to the title report shows a previous examination. those who are veterans of the process, transfer of the record title within With homeownership in the and the continuing education of the six months preceding the current United States approaching 66% and real estate professionals who shepherd contemplated transaction. Lenders approximately 6 million new and the consumers through the process is often refer to the period of existing home sales nationwide during an absolute necessity. An informed current ownership as "seasoning" 1999, the incidence of fraudulent real estate professional, without whom of the title. flipping of real estate is proportionate these transactions could not readily • If the current transaction is ly increasing and still adversely occur, is the last line of defense and a represented to be a purchase affecting a large portion of final critical element to ensure that transaction but the purchaser has homebuyers across America. the abuses visited upon those who can acquired or will acquire an interest The real tragedy of fraudulent real least afford it will not become a in the property prior to the estate flipping is its effect upon those lasting and unfortunate legacy of the scheduled loan closing. in society who can least defend real estate industry. · If the current transaction is themselves -the undereducated, the represented to be a refinance but elderly, and the poor. Significant
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2004 Technology Products and Services Directory ALTA takes some of the work out of finding a new vendor for your technology needs. Visit the Technol()gy section of ALTA's Web site to find detailed product information on these ALTA member companies.
t's a brand new year ... give your business processes that extra Many of these companies will be would you like a brand edge. They'll help analyze your exhibiting at ALTA's Tech Forum new company? current ways of doing business and 2004, so make plans to attend the It's possible, with a identify areas for improvement. You meeting March 14-16, at The little help from your may be ready to focus on order and Fairmont in New Orleans. Visit fellow ALTA Members. delivery speed, customer satisfaction www.alta.org for meeting registration Using the technology and relations, or employee training information and to research the solutions and business and morale. Whatever your concerns, products and services available from services provided by the companies these experts can help you make these member companies. listed here, you can create a team to improvements to your bottom line.
A+Abstract, Inc. AZ Ink, Ltd. Corporate Development Services, Brooklyn, NY Tucson, AZ Inc. (718) 645-5900 (520) 885-1785 West Chester, PA www.aplusabstract.com www.AZink.com (800) 296-1540 www.CDSWebCentral.com Advantage Ware Inc. BCEEmergis Redding, CA McLean, VA CourthouseData (530) 222-5417 (800) 833-2593 Fayetteville, AR www.AWIWare.com www.emergis.com (479) 582-0900 www.courthousedata.com AH Communications, Inc. Carnanco Conveyancing Raleigh, NC Perkiomenville, PA Data Tree (919) 848-2119 (215) 234-6467 San Diego, CA www.carnanco.com (800) 789-7244 AMC Inc www.datatree.com Phoenix, AZ CIM Services, Inc. (602) 978-0720 Bradenton, FL Digital Delivery, Inc. www.aztechsoft.com (800) 952-7893 Dallas, TX www.creditinsmarkets.com (972) 392-4646 APSCREEN, Inc. www.digitaldeliveryinc.com Newport Beach, CA ClosingCounsel.com (800) 277-2733 Wellesley, MA DTC Software www.apscreen.com (800) 248-0188 Janesville, WI www.closingcounsel.com (800) 637-3382 APTltude Solutions www.dtcsoftware.com Casselberry, FL (866) 278-4765 www.aptitudesolutions.com
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Easy Soft, Inc. hal Systems Corporation PrintDepartment.com Watchung, NJ Dallas, TX Carlsbad, CA (800) 905-7638 (214) 691-4700 (760) 930-9510 www.easysoft-usa.com www.halfile.com www.printdepartment.com ebix.com Inc lngeo Pursuit Software Inc. Atlanta, GA Kaysville, UT South Plainfield, NJ (678) 281-2014 (801) 497-0383 (908) 822-1458 www.ebix.com www.mgeo.com www.pursuitsoftware.com
Entyre Doc Prep, Inc. Jeanne Johnson &Associates RamQ!iest Software, Inc. Ann Arbor, MI Naples, FL Plano, TX (734) 761-1087 (651) 426-9962 (214) 291-1600 www.entyre.com www.LandRecs.com www.ramquest.com
ESRI Landata Group, Inc. RBJ Computer Systems, Inc. Redlands, CA San Antonio, TX Monrovia, CA (909) 793-2853 x2366 (877) 526-3282 (626) 357-9725 www.esn.com www.landata.com www.rbj.com
Financial Publishing Company Landata Systems, Inc. RCI Teleconferencing South Bend, IN Houston, TX Wayne, NJ (574) 243-6040 (800) 729-1900 (800) 527-4874 x278 www.financial-publishing.com www.landatasystems.com www.callrci.com
First Data Systems, Inc. Landtech Data Corporation Real Estate Closing Software Nashville, TN Royal Palm Beach, FL Madison, WI (877) 775-3134 (561) 790-1265 (800) 350-8262 www.firstdatasystems.com www.landtechdata.com www.lawfirmsoftware.com
Focus Land & Legal Technologies, Linco1n Data, Inc. RealEC Technologies(R) Inc. Spokane, WA Santa Ana, CA Greensburg, PA (800) 888-4153 (877) 273-2532 (800) 245-7900 www.lincolndata.com www.realec.com www.focus-tech.com Miller, Starr & Regalia RealtyAssist GATORSystems Walnut Creek, CA Carlsbad, CA Pittsburgh, PA www.MSandR.com (760) 930-9510 (888) 647-7752 www.realtyassist.com www.gatorsystems.com MKAssociates, LLC Gainesville, VA RealXchange.com GlobeXplorer, LLC. (703) 753-3100 Orem, UT Walnut Creek, CA www.mkassociates.com (877) 895-1202 (925) 280-5209 www.realxchange.com www.globexplorer.com Motivators, Inc. Hicksville, NY reQuire, Inc. Granite Software (516) 735-9600 Virginia Beach, VA Burbank, CA www.titlepromos.com (757) 552-0306 (818) 252-1950 www.titletracking.com www.iClosingsDirect.com
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The Rockridge Group, Ltd Title Program Administrators U.S. Recordings, Inc. Woodstock, IL Phoenix, AZ St. Paul, MN (815) 338-3320 (800) 277-5680 (651) 766-5100 www.titleprogram.com www.usrecordings.com Silver Bay Systems, Inc. Eagle River, WI Title Solutions, Inc. UCLID Software (715) 479-3044 Westerville, OH Madison, WI www.silverbaysystems.com (614) 508-0032 (877) 778-2543 www.titlesolutions.com www.uclid.com SMS Orange, CA Title Support Services, Inc. Ultima Corporation (800) 767-7832 Annapolis, MD Hardy, AR www.smscorp.com (888) 268-0422 (870) 856-6106 www.titlesupportservices.com www.ultima.com SoftPro Raleigh, NC Titleboard.com -Title Insurance Virtual Desktop, Inc. (800) 848-0143 Jobs & Resumes Dallas, TX www.softprocorp.com Culver City, CA (972) 960-6400 (866) 452-8800 www.virtualdesktopinc.com Springer Systems www.titleboard.com Basking Ridge, NJ Vortx Enterprises, Inc (517) 626-6308 TitlePac, Inc. Olathe, KS Muskogee, OK (913) 768-4322 Standard Solutions, Inc. (800) 331-9759 www.vortxsoftware.com Malden, MA www.titlepac.com (800) 597-6007 West Central Indexing www.standardsolutionsinc.com Titlepro Alexandria, MN (Beacon Technology USA, LLC) (320) 761-9361 Steven G. Lawrence, P.C. Lancaster, PA www.westcentralindexing.com McKinney, TX (800) 786-8776 (866) 542-8872 www.go-titlepro.com White and Williams LLP www.stevenglawrencepc.com Philadelphia, PA TitlePromos.com (215) 864-7188 TGExpress Hicksville, NY www.whiteandwilliams.com Honolulu, HI (800) 525-9600 (808) 521-0217 www.titlepromos.com Windward Consulting, LLC Waunakee, WI The Sustainable Company, Inc. TitleSCAN Systems (608) 850-5170 Fort Worth, TX Sudbury, MA [email protected] (817) 428-9654 (800) 448-7226 www.thesustainablecompany.com www.titlescan.com WorkTogether.US New York, NY Title Experts and Management TitleSoft, Inc. (917) 903-0389 Services (TEAMS) Maitland, FL www.worktogether.us McKinney, TX (800) 529-0585 (214) 544-8500 www.titlesoft.com yourtitlesite.com www.titleexperts.biz Westerville, OH TitleSurf.com (614) 508-0032 South Bend, IN www.yourtitlesite.com (574) 243-6040 www. titlesur£com
March/ April 2004 www.alta.org issue focus
Congress 2004: Roadblocks at Virtually Every Turn Getting things accomplished in an election year can be a challenge. However, ALTA will remain vigilant in meeting with Members of Congress on our key issues. by An n vo m Eigen Weare United States Senate, counseled 2003" passed the House in early all aware lobbyists that it would be a year in February 2004. However, it is that 2004 which there will be "roadblocks at uncertain whether the Senate will ever lS an virtually every intersection on Capitol act on this report, since it is unable to election Hill." The Senate Democrats, led by garner votes due to language in the year just Senator Tom Daschle (D-SD), have legislation affecting the ability of from watching television and reading informed the whip that they clearly persons convicted of bombing the newspaper. As such, the federal intend to craft the message to assure abortion clinics to declare bankruptcy. legislature will be in session for a that conference reports on legislation relatively short period of time. agreed to by the Senate and the SENATE BANKING Unfortunately, this will impact House must be consistent with and COMMITTEE AGENDA everything that ALTA and other acceptable to the Senate minority. Jurisdiction over RESPA, authority to groups try to accomplish this year. Bills that don't meet their regulate HUD, Fannie Mae, Freddie The normally brief second session requirements will be filibustered and Mac, and other major federal of the two-year Congress (which is effectively killed. In fact, Senator programs related to housing and oriented to fall elections) is even more McConnell's advice to lobbyist insurance fall under the jurisdiction of compressed this year since the members of the Republican Senate the Senate Banking Committee and National Party Conventions will Council was to "lower your the House Financial Services consume July and August. expectations" about what can be done Committee. Senator Richard Shelby Exacerbating the short time frame for this year. (R-AL), Chair of the Senate Banking legislative action is the close So what does that mean for the Committee (who is familiar with the Republican majorities in the Senate title insurance industry? Essentially, it title insurance industry as an agent and the House. The Democratic means that very little positive action owner), has announced his priorities minorities in both Houses have the that would benefit the industry will be for the year, and RESPA is noticeably ability to tie up legislation and exercise taken on Capitol Hill. Congressional absent. Here is what Senator Shelby leverage through procedural action on Bankruptcy Reform has indicated will be on the mechanisms such as a filibuster, which legislation illustrates this point. ALTA committee's agenda. further limits the ability of the has successfully lobbied amendments legislature to enact legislation. At the to overturn a Ninth Circuit decision • GSE Reform beginning of the congressional and to provide coverage of security Driven by the current press reports of session, Senator Mitch McConnell interests in real property by relief from abuses in the mutual fund industry (R-KY), Majority Whip of the the automatic stay in bankruptcy. and press coverage of Freddie Mac's Ann vom Eigen is ALTA's While the amendments we have been efforts to restate and manage legislative and regulatory seeking were first introduced in 1997 earnings, much of the Committee's counsel. She can be reached and have been included in all time will be spent addressing crises in at [email protected] or congressional conference reports since the financial markets, such as the 1-800-787-2582. 1998, those agreements have never consumer interests in regulation of become law. The conference report fees and trading in the mutual fund on the "Bankruptcy Reform Act of industry. In reaction to the concern
26 March/April 2004 www.alta.org You've been asking for it, and now it's here: your new ALTA Marketing Kit. Your kit comes complete with a variety of valuable, powerful marketing tools to help you communicate better and more effectively with consumers, lenders, REALTORS ~ and the media. • Ad Samples • Brochures • PowerPoint Presentation • Video or DVD • and More As an ALTA member, you get your first kit for free. Additional quantities and personalized materials also are available. For your free kit, email Lorri Ragan at [email protected], or complete the form below and fax or mail to: American Land Title Association • Attn: Lorri Ragan 1828 L Street N.W., Suite 705 • Washington, D.C. 20036-5104 • Phone (202) 296-3671 • Fax (202) 223-5843 Order yours today ... because this new AL TA Marketing Kit really puts your membership to work for you!
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about Freddie Mac's efforts to House last year, and is also high on technically considered a financial manage earnings and the resulting the Senate Banking Committee's institution, and thus subject to USA restatements, Chairman Shelby has agenda. This legislation may well Patriot Act restrictions, the Treasury indicated that the Banking turn into a vehicle for interest on Department has considered real estate Committee will consider legislation in business checking amendments, settlements a fairly low risk for money March to establish a strong and which will have a direct effect on the laundering for terrorist activities. credible regulator for Fannie Mae and way we do business. The Interest on Consequently, it has devoted efforts Freddie Mac, the housing Business Checking Act of 2003, elsewhere and not yet reached Government Sponsored Enterprises. As Title News goes to press, the Despite the challenges ALTA and the industry Senate Banking Committee is continuing its series of hearings on face this year in achieving results, we will restructuring the GSEs. The General continue to be consistent in getting our messages Accounting Office, the audit and across. oversight arm of the U.S. Congress, is urging Congress to create a new which passed the House last year, will rulemaking for real estate settlements. regulatory body to take the place of modify the federal law on which our Additional oversight may also rest on the current Office of Federal Housing current treatment of escrow funds the competitive market landscape that and Enterprise Oversight Board rests. If the House bill is enacted, title has occurred as a result of the within the Department of Housing insurers and agents would begin to Gramm-Leach-Bliley Act. Tying and and Urban Development. The new receive interest on impounds and insurance regulation and industrial entity would have power to monitor escrows and could be required to pass loan company growth will be Fannie Mae and Freddie Mac's those earnings on to consumers. reviewed in that context. financial health as well as their Earnings credits and overnight loans compliance with their existing federal would disappear. ALTA has succeeded REGULATORY ACTIONS charter mandate to spur in obtaining an amendment in ON RESPA homeownership. Currently, the Fannie legislation introduced in the Senate A short legislative session may also Mae and Freddie Mac charters that would allow us to continue our mean limited time to override any established by federal legislation do current escrow practices. regulatory actions undertaken by the not address title insurance as a risk. administration. In some instances this Rather, the servicing guidelines of • National Flood Insurance may favor American businesses. For both entities require that title evidence The national flood insurance program instance, the business community support loans offered for sale to the authorization is scheduled to expire in currently has expectations that secondary market agencies. As the March of 2004, and Chairman Shelby proposed changes to the Department focus on Capitol Hill rests on the has indicated that some kind of reau of Labor rules to modify the current basic safety and soundness and core thorization will be completed. treatment of overtime will favor capital requirements of these management. However, the limited institutions, products that support a • USA Patriot Act time frame for action on labor rules securitized mortgage will be reached. Oversight of recently enacted statutes will also be applicable to the It is unlikely that they will reach such is also a congressional responsibility. environment in which changes to any security interest issues as appraisal or The Senate Committee is also likely RESPA reform rule may be sought. title. Chairman Mike Oxley (R-OH), to focus on implementation of the As you may recall, HUD Chair of the House Banking federal response to the September 11 transmitted a final RESPA rule to the Committee, has indicated that he will terrorism act, including a review of Office of Management and Budget consider a House bill to regulate the the national money-laundering (OMB) in December 2003. OMB is housing GSEs only after Senate strategy and the effectiveness of the provided with up to 90 days to review action has been completed. USA Patriot Act. However, reconsid an agency's rulemaking analysis, eration of the regulation of financial including the draft rule, a regulatory • Interest on Business Checking institutions is unlikely to reach the impact analysis, and any other Regulatory relief legislation for specially designated nationals list. supporting materials. Since HUD' s financial institutions passed the While the title insurance industry is RESPA rule will have a significant www.alta.org TIUe News 27 issue focus
effect on a substantial number of joined with all the major real estate Institute, the National Association of small entities, a Regulatory Flexibility trade groups - the Mortgage Bankers Realtors®, and consumer groups filed Act analysis is also required for the Association of America, the National comments with HUD during the RESPA rulemaking. In an Executive Association of Homebuilders, the formal comment period. These Order, the President has directed National Association of Mortgage interest groups also subsequently met agencies, to the extent permitted by Brokers, and the National Association with HUD to express their objections. law, to follow certain principles in of Realtors® -- to caution the In addition, the Small Business rulemaking, such as consideration of Administration that "now was not the Administration's Office of Advocacy alternatives and analysis of impacts, time" to issue the RESPA rule. organized a roundtable of affected both the benefits and costs. There are As I'm sure you know from your small business providers, who solicited ultimately three possible outcomes of business volume, housing has been suggestions for alternatives that would OMB review: (1) conclusion of one of the few healthily functioning make the rule more workable for review and publication in the Federal sectors of the economy. Over 40,000 small businesses. In the formal Register; (2) withdrawal by the agency comments were filed on the proposed rulemaking process, HUD and the for further consideration; or (3) return RESPA rule. Mortgage brokers Federal agencies are able to listen but by OMB to the agency for reconsid objected to the treatment of yield not respond to industry concerns. eration. spread premiums, lenders objected to ALTA testified several times in ALTA has been very active in changes in the good faith estimate, 2003 before the House Financial getting out our message that HUD' s and the title insurance and appraisal Services and Senate Banking proposed changes to RESPA would industry objected to the guaranteed Committees and before the Small have a negative impact on the title mortgage package. Many industry Business Committee. In early industry. In November 2003 and groups, such as the Mortgage Bankers January 2004, ALTA also testified at a again in December 2003, ALTA Association of America, the Appraisal hearing held by Small Business
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Committee Chairman Don Manzullo visits to Members of Congress asking di approval was introduced at the (R-IL). At the most recent hearing, them to delay action on the RESPA beginning of the next Congress when Congress saw some dramatic changes rule. ALTA is assisting several it convened in January 2001. from industry groups. While ALTA members of Congress who are Whether there will be time or energy has consistently held to its position circulating a letter to be sent to the to undertake such an effort in the that HUD should repropose a Administration asking them to delay 108th Congress will depend on RESPA rule before moving to final action on the RESPA rule. Congress industry reaction to a final rule. implementation, many other groups may also enact a joint resolution of have now joined that chorus. disapproval. There have been a KEEPING THE MOMENTUM Hopefully, a united real estate number of congressional joint Despite the challenges ALTA and the industry will cause the administration resolutions of disapproval that have industry face this year in achieving to have second thoughts about been introduced since 1996, the year results, we will continue to be proceeding with the proposed rule. in which the Congressional Review consistent in getting our messages If the administration proceeds to Act establishing the process was across. Members of Congress don't publish a final rule and ALTA enacted. However, there has been only want to hear from us when we determines the rule to be detrimental only one instance where a joint have a problem. A year in which to the industry, the ALTA Board of resolution was actually signed into legislation is difficult provides Governors has authorized ALTA to law. A Department of Labor Members of Congress an opportunity challenge implementation of the rule regulation to deal with repetitive to be attentive to constituent concerns in the courts. Congress may also be motion actions or ergonomics and allows us to keep our foo t in the asked to join the fray. At present, over standards was finalized at the very end door on important issues for the next several thousand ALTA members of the Clinton Administration in Congress. have sent letters or made calls and November 2000. A joint resolution of
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Mortgage Activity at Hiring to Decline in 2004 PRIA Looks Officials from Freddie Mac and Full-time Employee Fannie Mae predict that mortgage etting electronic recording standards for the property records activity will decline in 2004, but it industry is an expensive and time-consuming undertaking that won't necessarily cause a downturn in S needs skilled people to keep the goal attainable. activity in the recording industry. The PRIA committee charged with carrying out this task is looking for Paul Peterson, chief operating ways to pay for a full-time employee to keep the group on track. officer of Freddie Mac, and David One of the plans under consideration is a special assessment to counties Berson, vice president and chief budgets, said Mark Ladd , register of deeds in Racine County, economist of Fannie Mae, say higher with healthy interest rates will slow down housing Wisconsin , and co-chair of the Technology Committee. activity in 2004, while rising mortgage Counties that have the money in their budgets can contribute over and rates will stem the rise of home above their normal dues, Ladd said . Participating counties will submit a refinancing. separate form directing the money into a specific fund for e-recording However, with the volume of work standards development, including the hiring of a full-time employee accumulated from 2003, recording dedicated to the XML project. The money won't be diverted off to fund officials shouldn't see a big drop in anything else . business anytime soon, said Carolyn PRIA is working closely with the Mortgage Industry Standards Ableman, chief deputy auditor in Maintenance Organization (MISMO) on the XML standards. It requ ires a lot Snohomish County, Washington. of man hours and expertise. PRIA needs skilled people to keep it moving. Recording officials should stay busy MISMO has a paid administrator to keep it on schedule ; we have only one verifying scores of records, images, part-timer, Ladd said . and manually checking electronically recorded documents, she said. Also, the industry is saving money with e-recordings, Ableman said. £ Discharge Records recordings have allowed us here in Washington to not increase staff Military discharge records filed with county recording offices in Minnesota are despite the high work volume. now con idered private information and will not be accessible by the public. Under a new law that became effective January 1, in order to access military discharge information and obtain a certified copy of the discharge, a reguestor will have to fill out and submit a form explaining his or her interest, said Cindy Koosman, Washington County recorder and PRIA State Advisory Committee member. Access to sensitive information on recorded military discharge papers such as names, addresses, and Social Security numbers has been a growing issue for recording officials across the country.
Property Records Industry Association 'l'erlf Recorrff . P.O. Box 3159 f "Jnt1vstrf Assocl3ti0n Durham, NC 27715-3159 PRIA (919) 433-0121 www.pria.us Michael R. Borden [email protected]
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FEDERAL CONFERENCE April 19-21, 2004 FEDERAL CONFERENCE PROGRAMMING
Affiliated Title Association Officer- Doing Business under the New Identity Theft: No One Is Safe Executive Meeting RESPA Rule From June 2002 to June 2003 approximate (open to state association staff What will be the emerging business model ly 7 million people became victims of iden and elected officials) under the new RESPA Rule? Right now, affil tity theft. Congress recently enacted legisla iated business arrangements are the hot tion that provides consumers with addition This meeting for state leadership will fea vehicle for the delivery of bundled services. al protections.Are you safeguarding your ture interactive roundtable discussions, Under the new RESPA Rule, an affiliated customers' information as required? What along with topics on different aspects of business arrangement may become an security issues does your business face? Find running an association. unnecessary-and even a cumbersome-cor out how to protect your customers and porate structure. Learn about potential your business. structural changes to the industry and the Abstracters & Title Insurance Agents Open Meeting evolving future business models from the parties in Washington who will be inter The New Agent Role in RESPA (open to ALL abstracter/agent members) preting the Rule. Several Washington DC area title agents This is one of two opportunities that ALTA have begun to bypass affiliated business provides Abstracter and Agent Members to arrangements and offer real estate agents discuss and consider issues relevant to the Enforcement in the New RESPA and lender customers a better price for Section as a whole.All Abstracter and Agent Environment their services. Will this be the next new Members are strongly encouraged to How do you comply with RESPA now? We thing? People who have already tried this attend this Open Meeting. Following the may be facing a new rule in 2004, but even business model will share with Federal "Town Meeting" format, members will be a Federal agency recognizes that it would Conference attendees what works and able to exchange ideas and learn from each take some time for companies to develop what doesn't-and why. other. The meeting will also feature a report new software for disclosures, to train on the "Agent Section Visioning Session" employees, and to modify internal systems. held March 12-13, 2004, as well as a discus And, there will always be gray areas, as Now I Can't E-mail, Fax, or Phone! sion on the impact of packaging on agents. there are with any new law. How do you You probably added your own home num avoid getting in trouble with the RESPA ber to the FTC's "Do Not Call" Registry, enforcement division if companies you but did you know it applies to your own Bundling: the New Reality work with try creative approaches now and business solicitation calls? Do you use e Now that we are ready, where do we go? in the future? mail, fax, or phone to contact your cus Many of the major underwriters are ready tomers? If you do, you may be running afoul to go with their new products and services of several new Federal laws. One new in a bundle or package of settlement servic Fannie Mae and Freddie Mac: Federal law, the "CAN-SPAM Act es. Lenders have been clamoring for ways Reform orTransformation? "(Controlling the Assault of Non-Solicited to make the consumer's life (and their own The Bush Administration has proposed new Pornography and Marketing Act of 2003), business practices) easier, and some title regulations for Fannie Mae and Freddie Mac establishes a framework of tools to help agents have managed to find the way. designed to increase supervision over those America's consumers, businesses, and fami Discover how the title agent is designed to entities. On the other hand, other policy lies combat unsolicited commercial e-mail, fit into this new world of bundled services. analysts are proposing "privatization" of the known as spam. The law allows consumers secondary market agencies. Will require to choose to stop further spam from a par ments to increase core capital affect how ticular sender-which could be you! You 've we do business with Fannie Mae and already heard that you can't fax and can't Freddie Mac? Or, will they become fierce call. Now you can't e-mail. Learn the new competitors in our arena? This will be the rules on what you can and can't do when critical year when these decisions are made you contact your customers from people on Capitol Hill. who work with the industry.
The legislative and regulatory goals of ALTA can best be achieved through personal influence and personal contact In order for our industry to prosper, we must maintain constant, persistent and favorable relations with members of Congress and federal regulators. Grassroots involvement is the key to success. ALTA 's Federal Conference provides its members with an opportunity to "state its case." Be responsible - attend. Mark Edward Winter, Stewart Title, Washington, DC and Member, ALTA Board of Governors FEDERAL CONFERENCE PROGRAMMING, cont.
Overtime-or Not? TIPAC Luncheon: SPECIAL TOUR - The Department of Labor is scheduled to Political Trends-2004 and Beyond Sunday. April 18. 2:00pm issue overtime rules in March, 2004. This Stuart Rothenberg is The National Building Museum new rule will have a direct effect on your editor and publisher of 401 F St., NW labor costs and your bottom line. Be sure The Rothenberg Political Phone: 202 272-2448 to attend this session about the new rules Report, a Washington Web site: www.nbm.org and see how to make them work for you. based biweekly newslet Square ter that reports on and Metro: Judiciary analyzes U.S. House, Created by an act of Congress in 1980, the National Building Museum is America's Meet Representative Mike Oxley Senate and gubernatori cultural institution dedicated to Michael Oxley (R-OH) al elections, presidential premier is Chairman of the exploring and celebrating architecture, politics and current political developments. House Financial design, engineering, construction, and Services Committee. urban planning. Since opening its doors in His commentary has been featured in news 2004 Federal 1985, the Museum has become a vital papers throughout the country. He has Conference attendees forum for exchanging ideas and informa appeared on ABC's This Week, the CBS will have an exceptional tion about such topical issues as managing Evening News with Dan Rather, NBC's Meet to meet suburban growth, preserving landmarks opportunity the Press, PBS 's News Hour with Jim Lehrer, urban Rep. Oxley during an The McLaughlin Group, The Today Show, and communities, and revitalizing informal gathering on Tuesday evening, April centers. The Museum's engaging exhibi CNN's Inside Politics, and C-SPAN. 20. Rep. Oxley will give participants his tions and education programs annually issues his com attract more than 400,000 people. insights into the important During the 1996 and 2000 Presidential elec this Presidential mittee will address during tions, Mr. Rothenberg served as an analyst Election year, as well as answer questions of The Museum occupies one of for the Voice of America (VOA), and he was relevance to the title industry. (Time and Washington's most spectacular structures, an on-camera election night analyst for location of this event has not been deter designed in 1881 by civil engineer and U.S. CNN for over ten years. He has been mined at the time of the printing of this Army General Montgomery C. Meigs and speaking to corporate and association audi brochure, but will be listed in the 2004 completed in 1887. The building, which ences around the country for more than a Final Program.) originally housed the Pension Bureau and Federal Conference decade, helping them identify and stay on was later occupied by many government top of political trends. His humorous anec agencies, is widely recognized as a marvel dotes and voluminous knowledge keep his of engineering. The Federal Conference, for me, is audiences entertained and informed. always a great experience. Not only The impressive Italian Renaissance design, are the educational sessions top-notch with a central fountain and eight colossal and timely, but it gives us an opportu DINE AROUNDS Corinthian columns-among the tallest interior columns in the world-has made Over the past several years the ALTA Dine nity to make appointments to see our the Great Hall a sought-after spot for gala Arounds have become a popular Federal Representatives and present our issues events, including Presidential Inaugural Conference activity. This year Dine Arounds to them in person. You can't beat the Balls and the annual holiday special, will take place the evening ofTuesday,April Christmas in Washington. power of that kind of face time! 20. This is an excellent opportunity to meet and socialize with fellow attendees, see a bit Stanley B. Friedlander, Pres., ALTA is pleased to offer a special guided of the city, and enjoy some of the world Continental Title Agency Corp., tour of the National Building Museum on class cuisine that makes DC one of the Cleveland, OH and Immediate Sunday, April 18, at 2:00pm.A museum country's best places to dine. Each Dine docent will lead participants on a private Past President, ALTA Around will be "hosted" by an ALTA mem tour through the building, pointing out ber. Sign-up sheets will be available on-site. exhibits and sharing the Museum's history. Plan to participate. After the 45-minute tour, participants will have ample opportunity to visit the exhibits at their leisure. This tour is com plimentary to Federal Conference regis trants, but space is limited. Reserve your place early by using the registration form at the back of this brochure. Registration includes: General Sessions, TIPAC Luncheon, Breakfasts, and Congressional Luncheo n. Does not include April 20 Dine-Arounds.
Important: I. Primary Registrant (please print or attach business card) Please read carefully First Name Ml Last Name Badge Name Full payment for ALTA's 2004 Federal Conference must accompany this form. Company
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Return this form with 2. Guest/Spouse Registration payment to:
ALTA Registrations First Name Ml Last Name Badge Name I 82B L Street, NW. Suite 705 Washington, DC 20036 3. Registration Type Fax Check registration type and enter the amount in Payment O ptions Section. Fax this form to ALTA (toll-free) with credit card By March 24, 2004 After March 24, 2004 payment: ALTA Active/Associate Member D $349 D $399 I-BBB-FAX-ALTA or Guest/Spouse D $1 SO D $175 202-223-5B43 Non-Member D $399 D $449
Online 4. National Building 6. Payment Options Register online at: www.alta.org Museum Tour The National Building Museum Total Registration Fees (Section 3) Enclosed: Hotel Tour is free, however please indi Payment Method: cate whether you plan to attend. 0 Check 0 American Express Make reservations at the Hyatt Number attending ___ Regency Washington on Capitol OVISA 0 MasterCard Hill by calling 1-800-233-1234 or 202-737-1234 by March 24, 5. Congressional Printed Name of Cardholder 2004, to obtain special ALTA Luncheon room rates. Room Rates The Congressional Luncheon is Card Number Exp. Date (per night, plus tax): $259 included in your registration fee. (single), $284 (double) 0 Check here if you plan to attend the Congressional Signature Luncheon on April 20.
6. TIPAC Luncheon AMERICAN LAND TITLE The TIPAC Luncheon is included in your registration fee. ASSOCIATION 0 Check here if you plan to attend the TIPAC Luncheon on April 21. f,ttO \lOG~ \> FOR 'ITILE AGENTS AND 'l'I'ILE ABSTRACTERS
Policy features available: • Defense Costs in addition to the policy limits • Deductible applies to damages only (First Dollar Defense) • Claims Made policy form • Optional policy limits • Zero to $50,000 deductible options • Prior Acts coverage • Independent Contractor coverage included • A. M. Best A rated carriers • Professional Services that can be included • Title Agent • Abstracter/Searcher • Escrow/Closing Agent • Real Estate Appraisers • Mortgage Brokers • Real Estate Brokers • Controlled or Affiliated Business Arrangements • Fidelity and Surety Bonds also available
Tide Program. Administrators 4545 E. Shea Blvd., Suite 165 Phoenix, AZ 85028 Phone: 602-383-1943 Toll free: 800-277-5680 Fax: 602-383-1945 Website: www.titleprogram.com e-mail: [email protected] member news NEW ALTA MEMBERS Movers &Shakers CALIFORNIA, CONT. ACTIVE MEMBERS Michelle Wilson has been named vice ARIZONA president and division manager for the Arkansas First American Title Santa Clara County division ofFirst Lucenia Whitehead Insurance Company, American Title Company, Santa Ana. Grand Prairie Title Co. Phoenix. Chip Carmer Wilson joined First America in 1980. Cabot has been promoted to the Most recently she was vice president and Ron Holetzky positions of regional vice division manager for Contra Costa and Advantage Research Corp. president for the Solano counties. Hot Springs Southwest region and Colorado president of the Ariwna division for First Glyn Nelson has been promoted to Stephane Atencio American. He joined First American in executive vice president--direct services for Alamosa Title & Closing, LLC the LandAmerica Financial Groups Inc.'s 1993 and most recently served as county Alamosa manager and division vice president in Santa Ana office. Previously, Nelson was Santa Clara, CA. senior vice president-California state Jerrold Spaeth manager for LandAmerica Metro Denver Title CALIFORNIA Commonwealth. Denver Bruce Maita has been Connecticut named president of COLORADO Carol Donnelly Financial Title Margie Lewis has joined Dayville Company, Folsom. Prior First American Heritage to joining Financial Title, Title Company, John Harlow Maita was president of Loveland, as escrow Wallingford the Sacramento division of Alliance Title officer. She has been Florida Company. involved in the real estate Susan Levin industry since 1979. CUTitleLLC Lavette Cozzitorto has been named Boca Raton escrow officer for the Folsom branch of Kirk Hanes has been Venita Pool Fidelity National Title Insurance appointed vice president Guarantee Title Research Company's of business development Sacramento division. Bonifay Previously she worked at Placer Title for for Zenodata 13 years. Corporation, Louisville. Robert Peters Hanes brings more than Nassau Title Company Dennis J. Gilmore has 18 years of experience in corporate sales Fernandina Beach been named executive and business development. Sharon Cunningham vice president for First Premier Title of Lakeland, Inc. American Corporation, ILLINOIS Lakeland Santa Ana. With First Patty McConnell has been hired as Harry Binnie American national account manager for Ticor Title since 1988, HB Title of Florida, Inc. Insurance Company's Chicago Loop and most recently he was Margate president of First American Real Estate Milwaukee offices. Prior to joining Ticor, Solutions. McConnell was regional sales director for John White International Land Services. Barrister Title & Guaranty Co. Miami Robert Cochran Dan Cochran Enterprises, Inc. Panama City www.alta.org TrtleNews 39 member news NEW ALTA MEMBERS MARYLAND Mergers &Acquisitions Florida, cont. Tine K. H. Dickey has been promoted Gregory Todd to senior vice president, sales manager Access National Settlement Services Professional Title Group d/b/a QyestTitle for Fidelity Residential Solutions, Inc., announced the acquisition through merger Pompano Beach Arnold. FRS is a division of Fidelity of a controlling interest in Metropolitan National Financial, Inc. Tine joined Title and Escrow Company, Centreville, Stephanie Brown FRS from Fidelity's National Agency VA. Tri-Star Title Services LLC division. West Palm Beach Capital Title Group, Inc., Scottsdale, AZ, Georgia OHIO will acquire Nationwide Appraisal Services Corporation near Pittsburgh, PA. David Oliver Christine Coughlin has been promoted Dorr Settlement Services of Atlanta, to the position of branch manager for LLC First American Title Insurance First American Title/Midland Title's Atlanta Company, Santa Ana, CA has agreed to Elyria office. Most recently she headed acquire Seattle-based Pacific Northwest Gary Solomon the Escrow Department at the branch. Title Holding Company and its Carrollton subsidiaries. TEXAS Tonya Cole Ogeechee Title, Inc Patrick Shields has been . LandAmerica Financial Group, Inc., Millen appointed manager of Richmond, VA has purchased County Stewart Title Guaranty Title Holding Corp., the parent company Illinois Company's national title of Southland Title Corporation of Norvel Brown services operation in Burbank, CA, Southland Title of Orange Precision Title, LLC Houston. Shields joined County, Soutliland Title of San Diego, Alton Stewart NTS in 2000 and Southland Title Equities. Gary Spurling serving as manager and underwriter for Spurling Title, Inc. the Philadelphia office. Old Republic National Title, Taylorville Minneapolis, IN, has acquired Kaspar VIRGINIA & Ronald Bykowski Associates, Inc., and Kasparnet, LLC in LandAmerica Financial Group, Inc., Affiliated Midwest Title Medina, OH. Richmond, has several announcements. Waukegan Melissa Hill has been promoted to the Indiana Stewart Title Guaranty Company, newly created position of executive vice Houston, TX, has purchased Platte Lisa Hoover president of production and process TitlePlus! County Title &Abstract Company, MO. improvement. Hill previously served as Bloomington president of LandAmerica OneStop. Marshall Kiel Cheryl Cox has been promoted to Smart &Johnson Title Corp. president of LandAmerica OneStop. Columbus Previously she served as vice presidnt national closing operations for OneStop. Don Plank Bruce Wood has been elected senior vice Title Search Services, LLC president-financial planning. Wood ha Noblesville been with LandAmerica for over 25 years Iowa and most recently served as vice president Robert Filter ---planning and analysis. West Des Moines
40 March/April 2004 member news
Kansas Maryland Minnesota, cont. Renee' Delay-Pierson Kim Caspari Corwin Vatnsdal American Title & Abstract Specialists, Inc. AmKor Titles, Inc. Roseau Lake of the Woods Title Co. Liberal Baltimore Roseau Steven Dieter Marco Epps Kevin Webb Nemaha County Abstract & Title Co. Paramount Research, Inc. All American Title Seneca Baltimore Spring Lake Park Janeen Bruna St. Clair Jennings Missouri Washington County Abstract Co., Inc. Atlantic Closing & Abstract Services, Jerry Harley Washington LLC Ozark Abstract and Loan, Inc. Bowie Kentucky Ozark Patricia Molony Joseph Steneman Montana Northern Kentucky Title, Inc. Crystal Title Services, LLC Grace Foster Edgewood Catonsville Powell County Title Co. Ewing Hardy William Yerman Deer Lodge Abstracts & Titles, Inc. Fountainhead Title Group Claude Burlingame Louisville Columbia Clark Fork Title, Inc. Edward Baker Myra Wheeler Williams Thompson Falls Jeff Baker Abstracts Colonial Title Company Roger Wimmer Louisville Easton Roosevelt County Abstract Co. Louisiana Bill McKissick Wolf Point James Kemph Dugan, McKissick, & Wood, L.L.C. New Hampshire Lexington Park Copiah Interests, Inc. Timothy Sullivan New Orleans Robert Cerullo Sullivan & Coakley, P C. Chris Alario Rock Creek Title, LLC Wolfeboro New Carrollton Tala, Inc. New Jersey New Orleans Richard Ridgway Deborah Balak Elizabeth Peck Universal Title, LLC Nationwide Title Agency Elizabeth H. Peck, Inc. Rockville Manahawkin Shreveport Lawrence Kramer New Mexico Massachusetts Silver Spring Cory Beckner Paul Miller Lisa Gibson CU Title, Inc. PCM Title Gibson Abstracts, LLC Clayton Belmont Upper Marlboro New York Kelly Gooltz Minnesota Nancy Farrell Jacobe Title & Recording Scott Schwalm Venture Title Agency Methuen Tradition Title Blue Point Mark Constable Chanhassen David Carroll Quincy Julie Pfeilsticker S.J. Carroll, Jr., Inc. Brooklyn Maine Lake Pepin Abstract Co. Lake City Jeffrey Patterson Patricia Yungbluth Genevieve Loan & Settlement Services Network Title Agency of New York South Portland Buffalo
www.alta.org Trtle News 41 member news
New York, cont. New York, cont. George Lake Tammi Chalmers NEW ALTA Realty Titleworks Agency Royal T Title Agency Melville Warwick MEMBERS Russell Coyne Mary Barnett Class Abstract Services, Inc. Glenmar Abstracting Services Inc. New York, cont. Mineola West Hempstead Audrey Czesak Trinity Title & Abstract Corp. Vincent Monte North Carolina Vincent Buffalo J. Monte Agency Inc. Tamara Ward New City Lending Tree, Inc. Shelly DiGiulio Charlotte Accudata Search, Inc. David Gorenstein Cheektowaga Choice Abstract Corp. Wesley White New York White's Title Service Phyllis Camposano Diane Priola Durham Atlantic Agency Counsel Abstract, Inc. Commack Gina Sanders New York The Closing Place of Franklin Dianne Erdmann Nancey Walker Franklin Gold Coast Abstract, Inc. Arlington East Islip Abstract Kathleen Samet Poughkeepsie Capital Title Services, Inc. Janice DeCuffa Kenneth Mount Airy Consumer Marketing Services, Inc. Zahler Aquebogue East Syracuse Abstract Corporation Sean Delaney Riverhead Union Title, Inc. Carol Weinerman Arleen Stewart Raleigh Atlantic Coast Title Agency, Ltd. Affirmative Abstract Farmingdale Lori Blackwell Ronkonkoma LB Abstractors Inc. Richard Lipman Stephen Heidorn Valdese Accord Abstract, Ltd. Broadway Hicksville Title Agency Ohio Saratoga Springs Marc Smith Sharon Chin Q!tee Patrick Reidy Reliant Abstract Service New World Abstract Corp. Excelsior Title, LLC Centerville Jamaica Est Saratoga Springs Sherri Christian Raymond Jurina Christopher McKenna Sherri Christian Land Abstracting Clove Valley Abstract Ltd. American Land Services, Inc. Services Lagrangeville Syosset Jackson Marco Materassi Nazzara Bernardo Renee Friend Counsellors Abstract, Inc. ClearTract Friend Research, Inc. Lake Success Title Agency Syracuse Mansfield James Crawford Robert Martyn Barbara Gromek JC Abstract, Inc. Sutton Alliance, LLC Insured Title & Escrow Agency, Inc. Manlius Valley Stream Painesville Darlene Barbera Robert McManus Easy-Close Esquire Title Agency, Inc. Melville Warwick
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Your company. Your choice. Title Industry Assurance Company, A Risk Retention Group. a 2 Wisconsin Circle, Suite 650 • Chevy Chase, MD 20815-7011 TIAC phone: (800) 628-5136 • fax: (800) TIAC FAX (842-2329) www.cpim.com/tiac Tennessee, cont. Virginia, cont. Pete Ensign Leslie Birdsong-Smith NEW ALTA Ensign Title & Escrow, Inc. Birdsong-Smith, Leslie Chattanooga Virginia Beach MEMBERS Gregory Swafford Patricia Gordon Swafford & Hays Settlement Services, Trish Gordon Title Examining Ohio, cont. Inc. Virginia Beach Knoxville Kevin Blum Wisconsin Ohio State Title Agency, Ltd. John Kidd Jim Ollech Pepper Pike Prestige Title Agency, LLC Schuster-Campman Abstract & Title Bonny McDaniel Maryville Co., Inc. All Star Land Title Agency Brenda Bratcher Neillsville Rocky River Bratcher, Brenda Puerto Rico Carol Conlan Mc Minnville Ismael Herrero & The Title Solutions Group, LLC John Gleaves Baldomero Collazo Salazar, Esq. Toledo Rudy Title & Escrow, LLC San Juan Jeffery Sanimons Nashville ASSOCIATE MEMBERS Precision Title Services, LLC JolmKimery Westerville Tennessee Title Agency Co., Inc. California Deborah Brazalovics Nashville Burton S. Levinson, Esq. Family Title Services, Inc. Virginia Levinson, Lieberman & Snyder Willoughby Beverly Hills Paul Erb Oklahoma Urban Title Services, Inc. Robert Dalton JolmFoley Alexandria American Municipal Development Corp. Trinity Title & Escrow Co. Alexandra Lee Ontario Oklahoma City Washington Title & Escrow, Inc. Pennsylvania Annandale Bruce Steckel Countrywide Bank, A div. ofTreasury NickD'Amico Stewart Sacks Bank, N.A. Direct Settlement Services Atlantic Title & Escrow, LLC Thousand Oaks Pittsburgh Chesapeake Ina Manni Paul Hajacos New York Integrity Plus Settlement Inc. ClearTitle, LLC Cheryl Rosenthal Springdale Chesterfield Atlantic Beach South Carolina Jill Springer Albert Greenbaum J. Stanley Claypoole Acuity Title Services, Inc. Municipal Data Services, Inc. Cooper River Title Ins. Agency Richmond Staten Island North Charleston Jon Tracy Tennessee Virginia Title Company Jane Fletcher Richmond Title Equity Corporation Kerri Robbins Bristol MMA Title & Escrow Donna Morgan Vienna Choo Choo Title Inc. Chattanooga
44 March/April 2004 www.alta.org Rock Solid
It takes more than promises to build solid business relationships with title companies. It takes years of experience, trust and performance. We were the first to automate title plants more than 40 years ago. As we led the initiative to develop new and more flexible search systems, we learned a great deal by working closely with our customers. And we demonstrated, through hard work as well as innovative ideas , that leadership is not merely claimed , but earned . Today, we are pursuing our goals to expand coverage and improve title operations through technology. We accept the responsibility of leadership as part of our commitment to explore the unlimited possibilities for innovation and efficiency.
www.edatatrace.com title news index
Index to 2003 Title News Articles
The Latest In Financial ALTA Running Your Business Management and Human Inside Lawyers Speak Out Resources Technology Abstracter/Agent Survey Focuses on the Title Industry by Allsion Kaspar Gareffa .....Sept/O ct on Employee Benefits by Dean A. Rogeness ...... Jan/Feb by John D. Haviland and ALTA Technology and Business Richard W. McCarthy ...... May/June Products Directory Four Generations in ...... Sept/Oct Chuck Kovaleski Responds One Business: Gift or Gap? to Challenges Ahead by Claire Raines ...... Mar/ Apr Electronic Document Recording by Ellen Schweppe ...... Nov/Dec The Time Is Now How to Avoid the by Todd R. Hougaard ...... Nov/Dec Biggest Sales Mistakes by Dan Miller ...... Mar/Apr Inside the Industry Agents/Underwriters Defalcations-Show Me the Money Becoming Better Partners by William August ...... Mar/ Apr by Anne L. Anastasi ...... May/June The New ALTA Short Form How to Maintain Wealth by Clifford L. Morgan ...... May/June and Happiness While Keeping Your Day Job Ohio Land Title Association by David E. Poisson, CAE .... .July/ Aug Launches PR Campaign byJohn Voso,Jr...... July/Aug The Ins and Outs of Signing Services What Consumers Think by James L. Gosdin ...... Sept/Oct About Title Insurance by Sandra Bell ...... Sept/Oct Preparing for RIFs as Business Slows NYSLTA Launches Public by Hunter Lott ...... Nov/Dec Awareness Campaign by Brian H. Madden ...... N ov/Dec Technology Corner Transaction Management Grows Up Issue Focus by Stephen Bedikian ...... Jan/Feb HUD's RESPA Regulations: the Proposals, the Comments, 2003 ALTA Directory of the Future Technology Products & Services by Sheldon E. Hochberg ...... Jan/Feb ...... Mar /Apr 2002 Congressional Wrap-up Offshore Outsourcing: A Case Study and What Lies Ahead by John Wythe White ...... May/June by Ann vom Eigen ...... Jan/Feb
Faster Settlements Can Be Yours Complying with the USA Pab'iot Act by Carson A. Mullen ...... July/ Aug by Brian Grant ...... July/Aug
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A Member of The First American Family of Companies (NYS E: FAFl Marketplace Position Opening: President/COO A multi state regional title agency is seeking a qualified individual to Situations wanted or help wanted assume the position of President and Chief Operating Officer. The ideal ads are $80 for the first 50 words, candidate $1 for each additional word, 130 is currently running a multi-branch title operation either as a words maximum. Insertion rate Region Manager or President. You must have a professional presence drops to $70 for first 50 words for and have the ability to grow the organization through recruiting key three or more consecutive place people and through acquisition . A high energy profile with a strong P&L ments. For sale or wanted to buy background is required . If interested, please reply in strict confidence ads are $250 for 50 words, $1 for to: Randy Strauss 716-631-3200 or [email protected] each additional word, 130 words maximum. Insertion rate drops to StraussGroup $225 for 50 words for three or more INCORPORATED consecutive placements. Placing a Executive Search Consultants box around an ad costs an extra $20 for help wanted or situations want ed, $50 for sale or wanted to buy. Blind-box service available upon Title News Advertisers request. ALTA - www.alta.org ...... 25 To place a classified ad in ALTA - www.alta.org ...... Cover 4 Marketplace, send ad copy and check made payable to American DataTrace Information Svs - www.edatatrace.com ...... 45 Land Title Association to: Title News First American Real Estate Solutions - www.firstamres.com ...... 21 Marketplace, ALTA, 1828 L Street, Fox Signing Services - www.foxsigning.com ...... 20 N.W., Suite 705, Washington, DC 20036. Granite Software - www.iclosingsdirect.com ...... 8 Landata Systems - www.landatatitleoffice.com ...... 31 SAMPLE: HELP WANTED National Business Developement - www.darrlyturnerinstitute.com 29 Lead Abstractor wanted for three-county Kansas operation. RamQuest Software, Inc. - www.ramquest.com ...... 33 Must be licensed or comparably SMS-www.smscorp.com ...... 47 qualified. Send resume, particulars, Scott Insurance - www.scottins.com ...... 19 to PO Box 888, Kansas City, KS Silver Bay Systems - www.silverbaysystems.com ...... 13 SAMPLE: SALE Title Plant for sale. Florida location. SoftPro Corporation - www.softprocorp.com ...... Cover 2 Microfilm, documents, and tract books TIAC - www.cpim.com/tiac ...... 43 cover county for more than 50 years. Title Program Administrators - www.titleprogram.com ...... 38 Computerized posting. Title Soft - www.titlesoft.com ...... 15 Trtle Support Services - www.iwanttss.com ...... 30 Ultima Corporation - www.ultima.com ...... 28 Valtech Research - www.valtechresearch.com ...... Cover 3 West Central Indexing - www.westcentralindexing.com ...... 11
www.alta.org 48 March/April 2004 An Independent
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