Archive for category: Blog

10 Reasons Why Title Insurance is Worth The Cost

By

February 13, 2017

0 comments

Blog, Spokane, WesternWA

10 Reasons Why Title Insurance is Worth The Cost
Title Insurance provides a unique array of value and benefits to our customers. Below are 10 ways that it can provide protection and peace of mind.
  1. Title insurance protects the interests of property owners and lenders against legitimate or false title claims by owners or lien holders. It insures the title to the investment, unlocking its potential as a financial asset for the owner.
  2. At Ticor we access, assemble, analyze, and distribute title information, in addition to handling escrow and closing.
  3. Title problems are discovered in more than one-third of residential real estate transactions. These “defects” must be resolved prior to closing. The most common problems are existing liens, unpaid mortgages, and recording errors of names, addresses or legal descriptions.
  4. A homeowner’s title insurance policy protects the owner for as long as he or she has an interest in the property; and the premium is paid only once, at closing.
  5. Title insurance is different from other forms of insurance because it insures against events that occurred before the policy is issued, as opposed to insuring against events in the future, as auto, health, property or life insurance do. Title insurance is loss prevention insurance.
  6. Ticor performs a thorough search of existing records to identify all possible defects in order to resolve them prior to issuing a policy. We perform intensive and extensive work up-front to minimize claims. The better we do this, the lower our rate of claims and the more secure your level of protection.
  7. Researching titles is extremely labor-intensive since only a small percentage of public records are computerized. The industry invests a substantial amount of time and expense to collect and evaluate title records. As a result, the industry’s claims experience is low compared to other lines of insurance.
  8. Ticor’s impressive Claim Reserves gives you unquestionable security and peace of mind knowing that your policy is backed by a leader in the title insurance industry.
  9. Dollar for dollar, title insurance is the best investment you can make to protect your interest in one of the most valuable assets you own: your home.
  10. To get the best value, choose Ticor Title for all your Title and Escrow needs. Write us in on your next transaction and you’ll see why we are Worth the Money.

Print, Share, Download Tips for Buyers & Sellers

This helpful information and more can be found in our Buyer Seller Guide to Title & Escrow eBook. Check it out!

Buyer Seller Guide to Title & Escrow
Buyer Seller Guide to Title & Escrow

Read more

 

Ticor Title Seattle Welcomes Keleen Goering, LPO

By

January 10, 2017

0 comments

Blog, WesternWA

Ticor Title Seattle Welcomes Keleen Goering, LPO

We are happy to announce that Keleen Goering has made the choice to join the Ticor Title escrow team and will be headquartered in our Lake Union office on Westlake Avenue. Keleen brings years of experience and a rich service ethic that will provide immense value to our clients and partners. Please join us in welcoming Keleen to the team!

About Keleen

I’ve been in the title & escrow industry for 15 years since launching my career at Ticor Title in Oregon in 2002, and am happy to announce my return to Ticor Title in Seattle this year.

My commitment to clients and customers is steadfast and has earned me a reputation for taking personal interest and accountability for timely and cohesive escrow closings. My consistent dedication to clear communication and transparency is at the core of my success in the escrow field.

Your success is my success, and I look forward to being a part of that in your next transaction!

Keleen Goering

Keleen.Goering@ticortitle.com

1505 Westlake Ave N Suite 150
Seattle, WA 98109

Read more

 

Ticor Title Seattle Welcomes Nichole Smith

By

January 4, 2017

1 comment

Blog, WesternWA

Ticor Title Seattle Welcomes Nichole Smith

We are happy to announce that Nichole Smith has made the choice to join the Ticor Title sales team and will be headquartered in our Lake Union office on Westlake Avenue. Nichole brings great energy and a depth of knowledge & experience that will provide immense value to our clients and partners. Please join us in welcoming Nichole to the team!

About Nichole

I began my career as a receptionist at the age of 17 at a mortgage company. After high school graduation I, while attending college, was very fortunate to learn all aspects of the mortgage business and soon became a loan officer.

After several years (and the mortgage crisis), I decided it was time to leave the industry and put my paralegal degree to use and work for a real estate law firm. While working for the firm, I received my real estate brokers license and eventually became the manager of our short sale negotiation/sales team. After three years at the firm, I was given the opportunity to pursue my dream career as a business development manager in the title industry. Now I’m happy to advance my career at Ticor (yay!!)

Read more

 

What Every Realtor Should Know About Owner’s Title Insurance

What Every Realtor Should Know About Owner’s Title Insurance

Make sure all of your clients are protected

You’re a real estate agent, so you know that buying a home can be overwhelming for many of your clients. Homebuyers can easily feel confused and frustrated by the mounds of paperwork they have to sign. Plus, all the fees associated with closing can sometimes be a surprise even to an experienced buyer.

Owner’s title insurance is one of those items often misunderstood by homebuyers at closing, yet its value is tremendous. As an important advisor to your clients, you are in the position to help them understand the value of owner’s title insurance and the dangers that can be incurred without it.

What is title insurance?

Owner’s title insurance is a policy that protects homebuyers’ property rights. For the same reasons that the bank requires a lender’s insurance policy, a homebuyer obtains owner’s title insurance to protect their legal claims to the property.

How title insurance protects your clients

Say, for example, your client recently purchased a new home from a builder, but the builder failed to pay the roofer. Wanting to be paid, the roofer filed a lien against the property. Without owner’s title insurance, your client would be responsible for paying this existing debt—meaning they’d be paying the roofer out of pocket instead of purchasing something nice for their new home, like new living room furniture. This is just one example of how owner’s title insurance protects homebuyers’ from various significant risks. With owner’s title insurance, your client would be protected from certain legal or financial responsibilities.

Enduring value

The good news is that owner’s title insurance protects homebuyers financially, as long as they or their heirs* own the home. For a low, one-time fee (average of 0.5% of purchase price), homebuyers can rest assured, knowing they are protected from inheriting existing debts or claims to their property.

State regulations and CFPB

Each state government regulates its own title insurance costs. In addition, the Consumer Financial Protection Bureau (CFPB) regulates closing and settlement practices which can impact title insurance. Keep in mind that title insurance industry practices vary due to differences in state laws and local real estate customs. The party that pays for the owner’s title insurance policy varies from state to state, and sometimes even within a state. For more information about title insurance, please contact your Ticor Title representative.

Free resources for Realtors®

Together, real estate agents, land title insurance professionals and other stakeholders involved in real estate transactions can protect homebuyers and provide them with the peace of mind they deserve during the home closing process.

For more information about title insurance, and to get free resources for real estate agents, visit www.alta.org/realtor.

*This article offers a brief description of insurance coverages, products and services and is meant for informational purposes only. Actual coverages may vary by state, company or locality. You may not be eligible for all of the insurance products, coverages or services described in this advertising. For exact terms, conditions, exclusions, and limitations, please contact a Ticor Title representative.

Read more

 

Ticor Title Participates in the Ugly Sweater Run

By

December 13, 2016

0 comments

Blog, WesternWA

Ticor Title Participates in the Ugly Sweater Run

We came, we ran, we brought some warmth To celebrate the season, have some fun, and ultimately provide support for those in need, members of the Ticor Title family took to the streets of Redmond for the merriest 5k of the year on December 3rd – The Ugly Sweater Run. Needless to say, we donned our craziest sweaters, had a blast, burned a few calories, and feel proud to have contributed to a cause that brings warmth to our community. Who Does the Ugly Sweater Run Benefit? The Ugly Sweater Run is partnered with One Warm Coat, an organization that […]

Read more

 

Improve the Home-Buying Experience with the House-Hunter Scorecard

By

December 5, 2016

1 comment

Blog, Spokane, WesternWA

Improve the Home-Buying Experience with the House-Hunter Scorecard

Ticor Title is happy to offer the House Hunter Scorecard, a simple tool designed to improve the home-buying experience.

House Hunting & Weighing the Options

Deciding on which home to purchase is a major commitment that involves evaluating location, size, price, amenities, and so many other factors. With so many characteristics to assess and compare, it helps to have a tool that can itemize factors, clarify expectations, and build confidence that the home-buyer’s ultimate home choice is the best fit for their desired lifestyle.

Track & Compare Home Preferences

After weeks of looking, it may be easy for a buyer to forget what exactly they liked about homes they’ve viewed. Over time, the details may fade or become vague. However, the House Hunter Scorecard helps to keep a record by organizing and comparing what the buyer likes best about their top two or three home choices.

The House Hunter Scorecard not only includes most of the features needed in a home, it takes into account the importance of the surrounding community and helps the buyer to visualize the lifestyle they seek.

Prioritize & Set Clear Expectations

With the House Hunter Scorecard you can set up a priority list ahead of time and a rank & order features from the most vital to insignificant. This helps to bring focus to the decision making process. Since most home purchases involve compromises on preference, the scorecard helps to weigh the options and make home comparisons easier.

The priority list can also help a Real Estate Professional get a better picture of what the buyer is looking for in a house so they can more accurately suggest houses available that best meet the requirements. When visiting different homes, buyers can leverage this check list to make notes, see the big picture, and build confidence that their ultimate choice is the best fit for their needs and vision.

Read more

 

Same-Day Solutions – Signing & Closing

By

October 28, 2016

0 comments

Blog, Spokane, WesternWA

Same-Day Solutions – Signing & Closing

At Ticor Title we believe that every successful closing begins with a great team. We understand what it takes to provide superior service to our clients and partners in the timeliest manner.  Our team of professionals go above and beyond to create a better closing experience by offering same-day signing/closing and instant delivery of Closing Protection Letters.

✔ Same-Day Signing & Funding – Yes We Can!

Because of our commitment to higher standards of service and the high degree of skill and efficiency of our escrow staff, Ticor Title offers same-day signing and funding on purchase and refinance transactions. We have the ability to work closely with our lending partners in order to provide escrow signing services, document delivery to the lender, and recording/closing in the same day. The result is that the buyer has a better experience at the end of the transaction and can get into their house sooner!

✔ Closing Protection Letters on Your Time – Yes We Can!

We offer the most efficient approach to providing our lending partners with Closing Protection Letters. With our electronic CPL request form, we have the ability to fulfill the request and update the escrow file in one minute. With 24/7 availability and instant response, we fulfill the lender requirement and eliminate a potential roadblock to closing so the transaction can progress.

✔ The Right Choice

Ticor Title is the company that can and will do what it takes to provide the higher standards required for the best possible closing experience. With our rich Pacific Northwest history, unmatched financial strength, and client-focused leadership, it’s clear that Ticor Title is the right choice!


Download PDF


Click  the following link to download a printable version of – Same-Day Solutions – CPL, Sign, Close .

Read more

 

7 Reasons Why Every Homebuyer Needs Owner’s Title Insurance

By

October 19, 2016

1 comment

Blog, Spokane, WesternWA

7 Reasons Why Every Homebuyer Needs Owner’s Title Insurance

Buying a home is an exciting and emotional time for many people. To help you buy your home with more confidence, make sure you get owner’s title insurance. Here’s why it’s so important for you.

  1. Protects Your Largest Investment

    A home is probably the single largest investment you’ll make in your life. You insure everything else that’s valuable to you—your life, car, personal property, health, pets, jewelry, etc.—so why not your largest investment? For a one-time fee, owner’s title insurance protects your property rights for as long as you or your heirs* own the home.

  2. Reduces Your Risk

    If you’re buying a home, there are many hidden issues that may pop up after purchasing it. Getting an owner’s title insurance policy protects you from legal title discrepancies. Don’t think it will happen to you? Think again. Here are just some of the many situations that you’ll be protected from if you have owner’s title insurance.


    Unforeseeable title claims, such as:

    • Forgery: making a false document. For example, the seller misrepresents the identity of the person selling the property.

    • Fraud: deception to achieve unfair gain. For example, someone steals your identity and either sells your house without your knowledge or consent, or takes out a second mortgage on the property and walks away with the money.

    • Clerical error: inconsistent paperwork and historical records. For example, an unforeseeable discrepancy in the property or fence line causes confusion in ownership rights.

    Unexpected title claims, such as:

    • Outstanding mortgages and judgments, or liens against the property because the seller didn’t pay required taxes

    • Pending legal action against the property that could affect your ownership

    • An unknown heir of a previous owner who is claiming ownership of the property

  3. You Can’t Beat the Value

    Owner’s title insurance is a one-time fee that’s very low relative to the value it provides. It typically costs around 0.5% of a home’s purchase price.

  4. Covers Your Heirs*

    As long as you or your heirs* own your home, owner’s title insurance protects your property rights.

  5. Nothing Compares

    Home insurance and warranties protect only the inside of the home. Getting owner’s title insurance ensures your family’s property rights stay protected.

  6. 8 in 10 Homebuyers Agree

    Each year, more than 80% of America’s homebuyers choose to get owner’s title insurance.

  7. Peace of Mind

    If you’re buying a home, owner’s title insurance lets you rest assured, with the knowledge that you won’t be stuck with certain existing debts or legal problems once you’ve closed on your new home.

More Homebuyer Tips & Information

The American Land Title Association helps educate homebuyers like you about title insurance so you can protect your property rights. Check out www.homeclosing101.org to learn more about title insurance and the home closing process.


*This article offers a brief description of insurance coverages, products and services and is meant for informational purposes only. Actual coverages may vary by state, company or locality. You may not be eligible for all of the insurance products, coverages or services described in this advertising. For exact terms, conditions, exclusions, and limitations, please contact a Ticor Title representative.

Read more

 

Streamline Your Workflow with Instant CPLs and Rates

Streamline Your Workflow with Instant CPLs and Rates

Sometimes it’s the little things that can make all the difference as to how smoothly a real estate transaction flows. Among the little things are Title & Escrow Rates and Closing Protection Letters (CPLs). The old school way of receiving accurate title & escrow rates or a CPL involved contacting an escrow officer or assistant to request information specific to a transaction. But what do you do if it’s after hours or on the weekend? What if your preferred closer is unavailable or in a signing appointment? What if your deal may fall apart if you don’t receive an answer immediately?

Here are two ways to eliminate delays and streamline the transaction workflow:

  1. Closing Protection Letters Delivered in 1-Minute or Less

    Ticor Title is proud to offer a system by which we provide Closing Protection Letters (CPLs) in under one minute for our Lender Clients, providing convenience and a speedy response 24/7. When a Lender completes the CPL request form via MyTicor.com, a response via email with the completed CPL will be delivered immediately and the transaction in our system will be updated regardless of the day of the week or the time of day.

    Request CPLs instantly at: MyTicor.com

  2. Title & Escrow Rates Provided Instantly and Accurately

    For the protection of consumers, today’s transactions allow very little tolerance for variances in Title & Escrow fees disclosed on a Loan Estimate. When you take into account that title and escrow fees are filed and calculated differently in various counties across the United States, determining accurate fees for a Loan Estimate or GFE may become daunting. And don’t forget the various sales tax rates that need to be accounted for across the state of Washington.

    Visit TicorRates.com for instant rates.

    In addition, for transactions in which an owner’s policy will be purchased, the CFPB rule prescribes special mathematical calculations for disclosure of the owner’s and lender’s title insurance premiums, which may require receipt of rates for both a stand-alone and simultaneously-issued lender’s policy, as well as the owner’s policy rate. Suddenly, the little task of getting a quote has become a high-stakes math project.

    The Ticor Title rate calculator takes all the aforementioned variables into account and provides a means of accessing accurate fees instantly any time, any day. The result is streamlined workflows for our clients and the peace of mind and confidence that comes with accurate numbers.

    Try the Ticor Title Calculator today at http://TicorRates.com

Read more

 

CFPB Announces Online Filing Under Interstate Land Sales Full Disclosure Act

By

September 6, 2016

0 comments

Blog, Spokane, WesternWA

CFPB Announces Online Filing Under Interstate Land Sales Full Disclosure Act

The CFPB has amended Regulations J and L to permit online filing under ILSA. According to the CFPB, “the Interstate Land Sales Full Disclosure Act requires certain land developers to register their subdivisions and provide disclosures about the lots being offered, to protect consumers from deception or abuse.” This generally requires a developer of a subdivision containing one hundred or more lots, with certain exceptions, to register the subdivision with the CFPB. Electronic filing will modernize the process by making payment submission more efficient and reducing paperwork costs.

CFPB ILSA Website & Online Filing Resources

The agency has also launched a new website with online filing resources, including instructions, available at www.consumerfinance.gov/ilsa.

Final Rule Effective Date

June 10, 2016

Contact

For issues or questions regarding ILSA registration contact the Interstate Land Sales Registration Program Office. Direct any FOIA requests to our FOIA office.

EMAIL

CFPB_ILSAProgramOffice@consumerfinance.gov

PHONE

(202) 435-7800

Read more