01.29.07
Posted in 60 second title work, Don't underestimate a title searcher!, Value of a title searcher at 12:24 pm by Jeanne
WHAT IS THE REAL MESSAGE of “Title work in 60 seconds” - FAST? EASY? CHEAP? HOW ABOUT INFERIOR?
Are you selling yourself (the small title professionals) out? Do you make your work sound simple and cheap? Reality is that those who do the real work know it is not easy to provide a complete and accurate report on title. But complete and accurate is NOT what is being asked of us these days. Lenders only seem to want faster and cheaper - “just give us the name on the last deed of record” - sound familiar?
What has happened to the interests of the little guys - yes, that’s YOU - whose most important assets are your business and your home? Doesn’t anyone CARE anymore? Professionals who care need to band together to let the media and the consumer know what is happening, not just lay down and take the beating.
You have a valuable product. You are a professional. What you do matters to you and others.
Jane Doe and You NEED TO KNOW what you are getting when you pay good money for your house and take out your big mortgage. What are your taxes and assessments? Do you have to pay homeowner dues each month? Where are the easements on your property? Are their restrictions on my house - er, what do you mean I can’t take FIDO with me …or park my Company van outside?
The ony way to protect your biggest investment is to do GOOD, SOLID, RELIABLE, TITLE WORK, and NO, that does NOT mean fast, easy,cheap or inferior. Wake up everyone. This is a wakeup call for YOU the consumer, and YOU the title professional. Spread the word - your work is important!
See what other talk is on the web about Sixty-Second Title Work.
http://radicaltitletalk.blogspot.com/
http://title-opoly.squarespace.com/
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01.26.07
Posted in Land Title Technical Stuff at 12:51 pm by Jeanne
On January 22, 2007, the IRS issued Bulletin 2007-4, and Rev. Proc. 2007-12 Changing the Rules on 1099S reporting, effective January 22, 2007. See the web site below for the full IRS Bulletin.
IRS 1099S Rev.Proc.2007-12
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01.25.07
Posted in Judgment Searches at 4:07 pm by Jeanne
Jeanne - Do you recommend that we still have the sellers/buyers give a ten year history of their residences on their affidavits? We are still requiring our closers to do this. I, however, do not see the need to ask for this information. Just curious on what you are instructing your students to do on this form.
Arne R. Skatrud
Key Title, Inc.
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01.22.07
Posted in Education, Real Estate fun at 8:51 am by Jeanne
Lipstick in School– Priceless!!
According to a news report, a certain private school in Washington recently was faced with a unique problem. A number of 12-year-old girls were beginning to use lipstick and would put it on in the bathroom.
That was fine, but after they put on their lipstick they would press their lips to the mirror leaving dozens of little lip prints. Every night the maintenance man would remove them and the next day the girls would put them back. Finally the principal decided that something had to be done.
She called all the girls to the bathroom and met them there with the
maintenance man. She explained that all these lip prints were causing a major problem for the custodian who had to clean the mirrors every
night.
To demonstrate how difficult it had been to clean the mirrors, she
asked the maintenance man to show the girls how much effort was
required. He took out a long-handled squeegee, dipped it in the toilet,
and cleaned the mirror with it.
Since then, there have been no lip prints on the mirror.
There are teachers, and then, there are educators.
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01.19.07
Posted in Land Title Technical Stuff at 12:01 pm by Jeanne
Process Design Group has put together a group of experts - Scott Friedman, Jeanne Johnson, Geri Kane and Aaron Gaalswyck - to bid on a Ramsy County, MN Request for Proposal (RFP.) Ramsey County is searching for a contractor who can help identify the root cause of problems in the document recording delays , and design a new business model that would eliminate backlogs and errors, as well as enhance the quality and efficiency of service.
The contractor chosen will need to be responsive to the Blue Ribbon Panel White Paper put out by the request of David Twa, Ramsey County Manager by a number of professionals in document recording. His goals for the panel were:
1. Identify issues concerning document recording in Ramsey County.
2. Is the current workflow process sufficient, creating delays, or can it be improved?
3. Is Ramsey County in compliance with statutory requirements for recording documents?
4. What recommendations can you give Ramsey County to ensure that it meets current standards as well as provide recommendations for the incorporation of the latest technology inclusive of electronic recording?
Undoubtedly a big challenge due to such an enormous volume of documents, but kudos to Ramsey County for looking at ways to improve its process.
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Posted in Don't underestimate a title searcher!, Education, Value of a title searcher at 12:01 pm by Jeanne
I was at the NALTEA convention in San Diego this past week. I was struck by the consistent themes resonating from these amazing professionals. I think what I wrote best describes how I believe these Professional Abstractors view themselves.
You are the honorable professionals. The little guys, not driven strictly by profit, speed and greed. You know there is much to know, and you care about education, quality products and differentiating yourself from the pack. You recognize what a quality product is, and believe what you do is truly important. You understand the significance of the complete system of land records; that they are core to our entire economy. You know that our lives rely on land records - the key to buying our most precious asset (and our biggest investment) – our home. You recognize that what we do is the driving force behind the mortgage and financial markets in the U.S.
You are concerned with accuracy and the integrity of the process. When asked to search something too fast, too cheap - something that would result in a bad product; you (reluctantly) turn it down. After all, it is better NOT to turn out a bad search… good abstracting takes time and effort to get it right. After all, a client can only get what s/he pays for… Faster, Cheaper is not Better, nor is it the Right Thing to Do. Moreover, all those seeming details a reduced search might skip - are critical to the owner! The title-holder needs to know what they can and cannot do to their property – where are the easements?… what are the restrictions?… how much are the taxes?… can I build a garage?… can I park my truck in the common area?… do I have to pay dues?… can I bring Tiger, and ninety-pound Fido and into my new condo?… It all matters.
You see privacy as an important issue. But you recognize the important role of both the government in keeping records, and the private sector in searching those records. You believe that not everyone should be data-mining the public records or looking at our private information, but still, there is the need to know – how else can we reliably buy a home, get a mortgage and know what we are really getting? There is a need for balance.
You are a professional, and there is much on your mind. It is not easy to be a professional abstractor today.
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