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June 2020
Title Notes E-News

Stay connected with us:  
We are Continuing Business As Usual - Accommodating and Adapting - Stay Safe

Post-Pandemic:  Opportunities and Challenges for the Banking Industry

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

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

Small business relief programs have held bankers' undivided attention lately. What was once considered a largely underserved segment in the financial industry is now at center stage. 
Businesses are relying on their banks now more than ever before to provide the relevant financial tools that they need to survive. But the responsibility does not end with lending. Bankers must recognize that while loans can be helpful, providing small businesses with a simple way to get paid and manage finances is arguably more important to their longevity. Click HERE to read on. 
 
Banks Have Opportunity for a Long-Term Win Post-PPP
by Barclay Keith
 
Despite the current economic challenges, there are market segments showing signs of new activity. For bankers, the question soon shifts from how to efficiently process PPP loans to "How do I continue to build on the relationship with my customers to help them accelerate out of this downturn?" Banks can take a leadership position by not only providing capital to help companies rebound and rebuild, but also give them the tools they need to monetize new opportunities and experience improved cash flow. Click HERE to learn more.
 
Community Banking Institutions Must Skip Ahead in COVID-19 Script
by Jon Voorhees, Peak Performance Consulting Group
 
Clearly much about banking will evolve in the wake of the coronavirus pandemic. Smaller financial institutions will often be hit harder than larger ones. The best way to counteract the trends is to look at them squarely and come up with a realistic plan. Wishing for the past won't help. Financial institutions must accept how conditions have changed. Click HERE to learn more about three things to consider. 
Bankers Title Seeking Qualified Candidates

Bankers Title, LLC is currently recruiting for an energetic individuals who can work independently in a fast-paced environment. Our high energy, team-oriented environment provides excellent career opportunities for professional and personal growth.
 
Order Coordinator:
This position is responsible for managing all incoming new order function of a high-volume of files, coordinating aspects of the title search, file input, managing multiple email accounts, professionally corresponding with clients by phone and email, while maintaining the timeliness of the order pipeline. Click HERE for more details, requirements, benefits and how to apply.

Post-Closer/Settlement Processor
This position is responsible for managing the settlement file and the post-closing function of a high-volume of settlement files, coordinating aspects of the closing function and preparing/editing CD's and ALTA settlement statements. Click HERE for more details, requirements, benefits and how to apply.

A New Lending Environment Will Bring New Mortgage Fraud Risks
What should risk managers be thinking about?
by Bridget Berg
 
The world around us is vastly different than it was even a few months ago. Between new policies, rising unemployment and uncertainty about the future, lenders need to be prepared for a new wave of fraud schemes. To assess the impact of the changing realities of fraud risk, consider: 
  1. Will this make someone more likely to want to commit fraud? Who?
  2. Will fraud be easier to pull off? How?
  3. Are there new opportunities to take advantage of? What?
Risk is not static, so make sure your anti-fraud program monitors all types of fraud. Focus targeted quality-control testing on programs that have had major changes. Review changes in fraud risk indicators, such as fraud scores and alert rates. Keep your front-line staff educated on fraud schemes and update them as new schemes emerge, and watch for risk updates from  Fannie Mae,  Freddie Mac, CFPB,  Federal Bureau of Investigation and  CoreLogic. Click HERE to read more.
Bankers Title is Offering Drive-Through Closings for Added Safety
The Bankers Title Settlement Team is offering clients the convenience and safety of outdoor closings. We are happy to coordinate, just let your settlement processor know in advance.

Bankers Title is Currently Conducting Hybrid Closings
Many lenders are beginning to offer hybrid closings where non-notarized documents can be digitally signed in advance of or at the closing. We are able to accommodate client and lender needs.

Coming Soon: Bankers Title Will Have E-Notaries on Staff
This will enable us to complete full remote on-line notarization (RON) closings.  More to come!
 
Contact Robyn Parker to learn more. 
How to Avoid Becoming Irrelevant in the New Decade
by Jim Marous, Co-Publisher of The Financial Brand

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

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

Too many companies view meetings as a one-way street. They encourage employees to share updates about ongoing projects, but they discourage them from sparking discussions or seeking feedback from peers. Perhaps it should come as no surprise that employees zone out during meetings and treat them as a waste of time.  The purpose of having a meeting is to encourage employees to communicate with each other and solicit input from their colleagues. When an entire team collaborates on an initiative, better solutions emerge - and companies become more aligned.  Click HERE to learn about three tenets that can be implemented to ensure that meetings  play an essential role in keeping your company connected and helping it turn ideas into action.
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Here are additional  Personal & Professional Development articles that may be of interest: 
How Financial Institutions Can Make Their Commercial Real Estate Portfolios Crisis-Proof
by Paul Clarkson

Banks need to be able to identify which of the loans in their portfolios are at risk of default, so that they can proactively address that risk. As market conditions continue to change day by day and, in some cases, hour by hour, it's become clearer than ever that legacy systems and Excel sheets cannot meet the needs of today's markets. To remain competitive, financial institutions must find fast, flexible and efficient ways to serve their customers, monitor economic impacts and protect their assets. Financial Institutions must lean on solutions that incorporate a single platform and a flexible data model that can offer a deeper understanding of their portfolio and a stronger relationship with their customer. Click HERE to gain greater insights.
 
Commercial Real Estate Recovery Possible Later This Year
by Catherine Mesick
 
Even as the reported economic numbers for the first quarter of 2020 ended on a dismal note, auguring a difficult second quarter for commercial real estate, Lawrence Yun, chief economist for the National Association of REALTORS®, takes a longer view. He recently highlighted opportunities for commercial real estate. While some sectors like restaurants and retail may be in for a rough time, he noted that other sectors like industrial may, in fact, see improvement. In addition, the massive federal stimulus package may have some mitigating effects, and as more businesses begin to reopen, the second half of the year could see a rebound for the economy. Click HERE to learn more.
7 Reasons to Work With A REALTOR®

Bankers Title supports and recommends the use of a licensed professional Realtor when conducting the sale or purchase of real estate. This is likely the biggest financial decision of your entire life, and you need a Realtor if you want to do it right. Click HERE to learn seven great reasons why you should engage the expertise of a professional.  
What You Need To Know About Bankers Title, LLC
  • Established in 1994
  • Managed by the Virginia Bankers Association
  • Exclusive underwriter for Investors Title
  • Committed to maintaining customer satisfaction by delivering quality title insurance products and closing services in an accurate and timely manner
Single source for all your title and settlement needs:
  • Licensed to underwrite title insurance in: Virginia, North Carolina, Maryland, and District of Columbia
  • Commercial Certified Underwriters on staff
  • Our settlement services can be customized to fit the needs of closing attorneys.
  • We can offer full services or simply HUD preparation and disbursement.
  • Our staff's vast experience enables us to respond quickly and effectively to detailed title questions, unusual search results, challenging escrow projects, and complex residential and commercial closings.
Did you know BT offers?
  • Closing services throughout the Commonwealth of Virginia using a network of professional closers with the convenience of closings at your bank, client's office, etc.
  • Specialized competitive pricing and an innovative product line
  • Negotiable commercial premiums and discounted premiums for Community Housing
  • Reissue rates good for 10 years on ANY company's prior policy
  • Facilitation of 1031 exchanges through Investors Title Exchange Corporation
  • Online quote calculator that provides title premiums, settlement fees and recording costs
  • Free Seminars and customized training for your team
Give us a call to discuss how our talented team can meet your needs!
We are essential and working safely to continue business as usual

NOTE: Recent changes in the details section of the recording cost format
on the Virginia Deed Calculations website. Click HERE to access. 

For your convenience, please click HERE to utilize our online rate calculator to get a quote.
 
** 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 and a discount on Lenders Coverage every time they refinance within the next 10 years.**
WANTED: YOUR FEEDBACK
What Topics Are On Your Mind?

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 Hot Topics would you like to receive greater insights and clarity? Send Robyn your thoughts.
Past issues of the Bankers Title E-news are archived on our website HERE
Robyn Parker
Vice President
Bankers Title, LLC
9011 Arboretum Parkway, Suite 110
Richmond, VA 23236
Phone  (800) 830-1414
Fax  (804)-560-7202
 

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Integrity. Security. Excellence.   Since 1994, we have provided market-leading title insurance and settlement solutions with uncompromising commitment to integrity, financial stability, and excellence in all that we do.