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What Exceptional Leaders See
by Kerry W. Elam, Actualize Consulting
Most businesses are loaded with stress and demands for results under inevitable time pressure. To meet the increasing workloads, the most effective leaders spend valuable time observing operations, and the people doing the work. Leaders take time to be empathetic, see each individual, and lead from a place of understanding. Being able to see the unique strengths of a person sets true leaders apart. This article explores what an exceptional leader sees and how to implement.
Click HERE to learn more.
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Industry Hot Topic:
TILA/RESPA Integrated Disclosures (TRID) PART VII
Three Takeaways From the TRID Trenches
Focusing on the positive impacts by Nancy Tarr
I've led or participated in hundreds of hours of internal meetings, customer-focused webinars, and presentations at various conferences, I've noted three takeaways from the TRID training trenches that trumpet some of the positive impacts to the real estate industry.
- TRID is breaking down traditional silos between lenders, real estate agents and brokers, and title insurance and settlement service providers.
- TRID is shining a light on the distinct regional differences in closing and settlement across the industry.
- TRID is elevating the role of consumer education among all the parties involved in residential real estate transactions.
Click
HERE to ready more from Nancy Tarr.
Tolerances with the TILA-RESPA Integrated Disclosures
Similar to existing law, the Consumer Financial Protection Bureau's final TILA-RESPA rule restricts the circumstances in which consumers can be required to pay more for settlement services than the amount stated on their Loan Estimate.
Generally, good faith requires the closing cost estimate on the initial Loan Estimate to equal the final amount charged on the Closing Disclosure. Here's a look at which fees can and can't change:
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| Click HERE to enlarge graphic and to read the entire blog. |
The Production Challenges Beyond TRID
There's going to be life after TRID, and the savvy lenders will be those that look beyond Oct. 3 and address the long-standing inefficiencies in mortgage production that TRID is bringing to light. If the mortgage industry is serious about addressing the longer closing times created by TRID, not to mention attracting millennials as potential homebuyers and/or employees, it has got to get with the times. And the times? They are digital. Click HERE to continue reading.
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As you move through the learning curve with these new rules and forms, West Virginia Bankers Title is here to assist you. Please do not hesitate to reach out to me at 1.877.439.4910 or send
Bob Drummond an e-mail.
Please utilize the tools and resources available on our website: TRID Training, Reference and Forms Manuals, along with a copy of our presenters PowerPoint presentation. Click
HERE to access them.
Together We're Prepared!
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Five Steps for Hiring Bankers
Who Can Sell
Hiring bankers who can sell requires an effective system that you implement on a consistent basis.
Recruiting is a big problem for most banks and financial firms. The question is always, "How do I hire bankers who can also sell?" Unfortunately, there is no simple answer to this question. However, the one thing you must recognize is that you and your process are responsible for the quality of the salespeople on your team today. Recruiting and hiring are like sales: you must have an effective system in place. Recruiting is not a "sometime" thing; it is an "all the time activity" for sales leaders.
Here are five initial steps that will help line-of-business sales managers get ready to hire better salespeople (who are also bankers): (Click
HERE to read details about each step)
- Realize and admit that you have people on your team today who are underperforming
- Realize that you are perfectly designed for the results you are getting today.
- Decide today that you are going to hire better sales people and not deviate from that objective.
- Put in a process of establishing exactly the right person for the job.
- Set expectations for new hires.
Now, there is a bonus step that trumps all five of the above for hiring better sales people and here it is: implement a system and execute on it consistently.
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As we approach October 3rd and the beginning of the new TILA RESPA regulations, we hope that this tool will help to make the transition a bit easier.
We encourage you to utilize this new feature to obtain your title insurance quotes, but we are still available by phone and by e-mail for your quoting needs. As always, your feedback is welcomed and appreciated.
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CFPB to Mortgage Industry:
Get out of MSAs
by Trey Garrison
Industry calls move regulation by enforcement
The Consumer Financial Protection Bureau wants mortgage lenders to stop using marketing services agreements, and it's using the stick rather than the rules process to do so.
The CFPB sees MSAs as tools that can be easily abused, and issued a stern warning about their use to other companies in the field.
Click HERE to read this article.
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5 Strategies To Bring More Happiness To Your Life
Sure Fire Ways to Have a Smile on Your Face
compliments of Life is Good
Happiness is a life-long practice.
At Life is Good, we choose to focus on the good in life, and through this practice, the pursuit of happiness becomes the kind of adventure that is energizing and makes you want to follow your dreams.
Choosing to focus on the good isn't always easy, but there
are strategies that have been shown to provide an
immediate boost. These activities might feel like work at first, but soon they will become your happiness habits.
5 HAPPINESS STRATEGIES:
- Write down 3 things you're grateful for
- Call someone you love
- Change your "to-do" list into a "get-to" list
- Listen to music
- Stay optimistic about your future
Life is not perfect, life is not always easy, but Life is good when we choose to focus on what makes us happiest. Click HERE to read the entire article.
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Top 10 Time Wasters In Community Banking
From the two-part series on the SCCMG blog
The microwave and community banking
Years ago it was said with technology we would all have more free time than ever. The microwave mentality of having technology and resources at our fingertips would reduce our time at work and with chores at home. Didn't happen. Banking was suppose to get easier for the employees with ATMs, mobile banking, and the latest and greatest core banking systems. With all that, we still hear employees complain about being short-staffed and pressed for time. The best community banks are well-staffed, not under-staffed. The problem arises with the incredible amount of time wasted every single day and no amount of technology and over-staffing will solve it.
Here are 10 time wasters we see on a daily basis in community banks:
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1. Fixing the Unfixable
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6. Not Having a Calendar |
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2. Product Training
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7. No Daily Meetings |
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3. Half-day and Longer Meetings
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8. Screening Calls |
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4. Listening to the Zero Hero
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9. A Meddling Board |
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5. Email
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10. I'm Too Busy |
You've got a choice
This isn't rocket science. Most people can easily spot the time they waste as well what others waste. The difficult part for most is dealing with the time wasters directly. As crazy as it sounds, some people want to cling to these time wasters because they've become a comfort zone and a reason they can fall back on to give others the perception they are busy and overworked. Life's too short for these kinds of games and waste. Take control of the waste, work around what you don't have control over, and then aggressively guard your new found time.
To read this two-part series in its entirety:
PART I and
PART 2
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The 8 Biggest Concerns for REALTORS®
REALTORS® are "strongly confident" about the housing market's outlook over the next six months, although confidence has eased since the beginning of this spring, according to the latest REALTORS® Confidence Index, a monthly survey of nearly 3,000 REALTORS® about local market conditions.
Still, REALTORS® are reporting several issues with the market. The survey revealed the following top concerns:
- The upcoming TILA-RESPA Integrated Disclosure regulations, which take effect Oct. 3, and concerns that they could delay closings.
- Tight inventory with a limited number of homes for-sale.
- Affordability issues: Fewer affordable homes so sellers are also hesitant to move.
- Financing issues, such as difficulty in qualifying for a mortgage due to higher FICO credit and down payment standards, protracted mortgage approval process, and condo-financing issues.
- Appraisal issues: conservative estimates, "out-of-town appraisers," and slow turn-around.
- Rising interest rates.
- Declining demand from international buyers due to a strong U.S. dollar.
- Uncertainty about flood insurance rates and reform.
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Realtors® and Real Estate Trends you may enjoy:
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"Whether you think you can or you think you can't, you're right.
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- Henry Ford -
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**Remember to offer your borrowers Owner's Coverage on their most valuable investment. It's a one time premium with a lifetime of security. In addition, they will receive a reduced premium rate when they obtain it simultaneously with your Lender's Coverage.** |
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WANTED: YOUR FEEDBACK
What Topics Are On Your Mind?
West Virginia Bankers Title wants to provide you with pertinent information in future E-Blasts and Webinars. What questions are on your mind regarding the real estate and mortgage lending industry? What Topics would you like addressed in future E-blasts?
Send Jade Audia your thoughts.
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