March 2022
Title Notes E-news
5 Project Management Lessons From Walking Across Spain
by Victor Prince

Whether it’s knowing what you need and what you don’t on a project or knowing how to manage conflict effectively, a long 500 mile stroll can help you build these skills. A few summers ago, Victor Prince hiked the ancient Camino de Santiago trail across Spain. He shares that it was the best month of his life for many reasons. Along with a lot of other great things he got by walking almost 500 miles, it also taught him some valuable project management lessons that can be used at work. Click HERE to learn about his insights and how you can put them to use.
Welcome Madison Trainer to the Bankers Title Family!

Please join us in welcoming Madison Trainer to the Bankers Title team. She will serve in an Administrative/Post Closing Assistant role. Madison is a Chesterfield native and earned an Associate's Degree in Science from John Tyler Community College.

Outside of work Madison enjoys spending time with her two fur babies: Scooby (1 year old rotti/blue healer mix) and Binx (3 year old fluffy feline). She is a history lover, and enjoys dabbling in art through drawing and photography. Madison is also a self-proclaimed paranormal and Harry Potter nerd.

You can reach Madison by e-mail HERE.
Mortgage Lending Snag: Boomers & Millennials Vie for the Same Houses
by John Ginovsky

Baby Boomers want to keep their independence by downsizing to smaller homes, but that conflicts with Millennials’ aspirations for first-time ownership. Compounding the situation are investors buying smaller properties in bulk. Mortgage lenders need to factor this complex dynamic into their planning. Click HERE to read on.
What You Need to Know About HUD Second Mortgage Payoffs
Provided by Investors Title

There continues to be an on-going concern for claims associated with the payoff of subordinate mortgages made by the United States Department of Housing and Urban Development (“HUD”) under various lending programs including the Home Affordable Modification Program (“HAMP”). The Federal government initiated the HAMP and other similar programs to assist homeowners by reducing their monthly mortgage payments. Typically the parties to the transaction will enter into a loan modification with their primary lender and then execute a subordinate mortgage to HUD. Both the modification and subordinate mortgage typically are recorded simultaneously, but there are occasions when the modification is not recorded. In some cases the original mortgage (now modified) and the subordinate mortgage may contain the same FHA Case Number and same loan number, but these are two separate stand-alone mortgages which necessitate two payoff statements and payments. Clear HERE to read the bulletin in its entirety.
Bankers Title Comprehensive Commercial Services
Did you know that Bankers Title’s skilled and dedicated team of experienced professionals are focused on meeting the unique needs of each commercial client?

Our knowledgeable team includes two Certified Commercial Underwriters and two commercial certified settlement/ escrow officers with over 20 years of paralegal experience. We take pride in delivering exceptional service for any size, type and complexity of purchase, construction or refinance commercial transaction.

Our comprehensive commercial services include:
  • Coordination of Title Searches
  • Commercial Title Insurance and Endorsements
  • Escrow Services • Closing and Disbursement Services
  • 1031 Exchange Services facilitated through Investors Title Exchange Corporation
Click HERE to learn more.
The Post-Pandemic Fraud War: How to Play Offense
by James Ruotolo

The pandemic has created many new challenges and changed the fraud risk landscape—perhaps permanently. It has also provided a training ground for a new generation of fraud attackers. Upon the sunset of lucrative government-funded pandemic benefit programs, well-trained fraudsters will soon turn their attention to financial services targets. Now is the time to make sure your fraud risk management program is up to the task of protecting your bank from the coming wave of fraud activity. Click HERE to learn six specific recommendations to bolster your fraud risk posture.
Bankers Title's Julie Krupnick Named Vice Chair of the American Diabetes Association's Virginia Advocacy Committee

We are pleased to announce that Julie Krupnick has been named Vice Chair of the American Diabetes Association’s Virginia Advocacy Committee. This Committee, made up of passionate ADA volunteers and support staff, monitors General Assembly bills of interest and develops strategy around diabetes policy and legislation, for the benefit of those living with diabetes and their families/caregivers across the state.

Julie has been a diabetic for over 42 years and has been active with the American Diabetes Association as a key volunteer and past board member for over 20 years. She has been selected to lobby Congress for the State of Virginia multiple times on behalf of the ADA as well as participated in Walks, Tour de Cure, Galas, golf tournaments, basically every event/ fundraiser we have.

Please join us in congratulating Julie on this achievement.
The "Mater Man's" 4 Rules for Leaders and Business Growth
by Wally Bock

In a recent blog from Wally Bock's Three Star Leadership website, Bock tells the story of "Mater Man." It's the story of a farmer who sells tomatoes and other produce at a farmers market. Mater Man is a successful businessman. Mater Man's key to success is following his four rules. I believe we could be better leaders and make our companies more successful if we pay attention to Mater Man's rules. They are:
  1. People will keep coming back if you have high standards and stick to them.
  2. The best thing you can do is whatever's best for your customers. They remember.
  3. Trust pays dividends.
  4. If you're in business you can concentrate on profit or you can concentrate on what makes your customers smile. There's less stress and probably more profit if you maximize the smiles.
Click HERE to read Wally Bock's blog in its entirety.
The BT On-site Team Keeping You Informed and Safe! It's What We Do!

Your client's health and safety is always a top priority for our agency.

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!

Reminder: For the safety of all parties attending on-site closings face masks are requested.
Contact Robyn Parker to learn more.
Green Banking for a Competitive Edge for Smaller Financial Institutions
by Stephen Kuhl

A recent studied labeled banks a leading contributor to climate change through their financing of fossil fuel projects and other business activities. Switching financial institutions could be seen as a more effective way for individuals to reduce their carbon footprint than adjusting their behavior in travel, eating and commuting. Smaller institutions typically serve neighborhood businesses and local families, so they could be at an advantage as consumers place increasing value on green-first banking. In fact, some climate action groups are actively encouraging people to switch from bigger banks to these organizations for just that reason. Click HERE to learn more.
Top Trends Transforming Business Banking in 2022 and Beyond
by The Financial Brand's Editorial Team

An innovation revolution is roiling business banking just as it has consumer banking. Financial institutions are especially vulnerable to losing small-to-medium sized businesses to fintech entrants. SMBs have typically been underserved when it comes to tech innovation or new digital services. More than six in ten businesses in this large segment go outside their primary bank for business services such as payments and receivables. Click HERE to read on.
Working long hours to process your client's loan applications? Our online quick quote rate calculator is available 24/7/365

You can easily access it from the home page of our website. Check it out HERE. Get your title premiums, settlement fee, and recording fees with three clicks. The quote can be saved as a PDF document and emailed to your client. Fast, simple, easy, anytime!

Want to request a quote? Just click HERE to fill our and form and e-mail it to us.
Robyn C. Parker
Vice President & Agency Manager
Bankers Title, LLC
9011 Arboretum Parkway
Richmond, VA 23236
Phone: 1.800.830.1414 | 804.560.7655
Integrity. Security. Excellence

Bankers Title is a full-service Title and Settlement Agency that is committed to integrity and transparency in each of our transactions. Our team is made up of the best in the business and we look forward to helping you make informed decisions about your home.