12.20.07
Posted in Education, Real Estate fun at 5:21 pm by Jeanne
I was delayed at the airport… again. I picked up a new book that remarkably turned out to be one of my favorite reads of all times. I am an avid reader - I read at least one book a week, and am always anxious to find something remarkable.
As a teacher of esoteric topics (such as “title exam,” “title searching,” “real estate 101″ - topics that can glaze over the eyes of almost any audience) I am always looking for ways to spice up topics and help people identify and remember important information. My husband jokes that I have read “How to remember what you always forget” at least a dozen times and it hasn’t helped.
But this time, I struck a Bonanza! “Made to Stick: Why some ideas Survive and others Die” is an amazing read. It is fun, witty, charming…memorable! It is USEFUL. For those who want to be remembered (in a good way) it gives concrete examples of what works and why. A must for those of us try- ing to survive in a tough business, It also explains why ideas fail - after all, how often have you seen a great commercial - but you can’t remember the product is was advertising.
I won’t spoil the plot. It’s great fun and it’s a must read!
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12.11.07
Posted in Industry News, Licensing at 4:23 pm by Jeanne
It’s hard to believe an esoteric industry like ours can be so maligned. Are there really that many BAD title agents? Are the Title Underwriters so GREEDY they are willing to sign anyone who can bring in a title policy? Will it take NATIONAL legislation for the industry to become moral? Just today, in Boston, Kansas City, Hartford, San Diego, Bismark, Denver… and elsewhere, here is just a sampling of what the media says about title insurance:
Title insurance and me
Boston Globe - United States
They’re mad because I didn’t buy homeowner’s title insurance and, they say, because other people may not buy a policy as a result. …
State goes after licenses of Guaranty Title managers
Springfield,MO,USA
Matt Blunt signed extensive title insurance reform legislation. Senate Bill 66 clarifies a duty to fully disclose to consumers separate price information …
AG, DCP, Insurance Dept. announce $700000 settlement in kickback …
Hartford Business - USA
In an October lawsuit filed on behalf of DCP and the Insurance Department, Blumenthal alleged that Reiner, which also sells title insurance, used sham …
Lawsuit against title company won’t be a class action
Kansas City Star - MO,USA
In fact, May and his law firm have already filed similar suits against title insurance companies in other jurisdictions. Pending in Jackson County Circuit …
Legal tangles surround hidden cemetery
Kansas City Star - MO,USA
Stewart Title Guaranty Co., his title insurance company, said the mistake did not hurt the land’s value at all. They offered him $10000 in damages. …
The art of the double deal
Denver Post - Denver,CO,USA
In a double closing, buy-sell transactions are staged in succession, often in separate rooms of the same title insurance company. …
YOUR PLACE TO CALL HOME: Realtors can help you find answers
Suburban Journals - Town and Country,MO,USA
What will be the total cost of the title insurance or loan you are securing for your new house? Can the company you hire meet the deadlines that you have in …
Watch who leads through crisis
TheReporter.com - Vacaville,CA,USA
Real estate brokers, mortgage brokers, mortgage lenders, title insurance companies, fire insurance companies, real estate appraisers, and attorneys - are …
Want to Find Treasure in the Sierra Madres?OpEdNews - Newtown,PA,USA
They include financing, title insurance, bank trust regulations, and other tools to provide security to the foreign investor. All Mexican land within 100 km …
Official wants to keep program but halt abusesRocky Mountain News - Denver,CO,USA
Earlier, as the state’s deputy insurance commissioner, she cleaned up a national mess involving kickbacks in the title insurance agency, which included her …
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This once a day alert just gives a sampling…
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12.07.07
Posted in Industry News at 1:32 pm by Jeanne
Jeanne Johnson & Associations blog LandRecs.com has been listed as one of the Top 100 Real Estate Blogs by International Listings. It is one of only 5 such blogs listed for the Title Insurance Industry.
Top 100 Real Estate Blogs says: “Despite the funk that the subprime crisis has brought down on Wall Street and financial institutions, this sector represents only one portion of an entire industry. Some financial analysts such as James DiGeorgia, 21st Century Investor publisher, advise investors to keep an eye on the real estate industry as an opportunity. And, savvy homeowners or those who seek to purchase houses as residences or as investments might be wise to stay on top of some of the best names in the industry.”
“Who knows where real estate will go from here?”
“To find an answer, we’re treating you to the top 100 bloggers who focus on every real estate subtopic from appraisals to the title industry. You won’t find real estate listings in this article, although some blogs focus on individuals who work in real estate and others focus on consumers:”
The Five Title Insurance blogs listed are:
Title-Opoly,
TitleRep,
Clearing Title,
LandRecs and
My Closing Space Blog.
Thanks Top 100, We are glad you noticed us.
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12.05.07
Posted in Industry News at 11:42 pm by Jeanne
Title Revenue Down another 3-5%
Industry Operating Margin between 2-4%
Fitch’s annual rating report on Title Insurance shows few surprises. By reviewing and analyzing company financial statements, and evaluating the real estate and mortgage markets in general they seem to have a reasonably healthy grasp on the title industry and where it is headed. And the industry, as the report suggests is pretty much in a stupor.
Fitch’s ratings look through long term cycles to focus on underlying fundamentals of the industry, properly noting that staffing is the highest expense in the industry and must be cut dramatically to make a profit. In Fitch’s opinion, the balance sheets, along with the movements of the title insurance underwriters to cut expenses, are strong enough to weather the current downturn, supporting a Stable Rating Outlook on the title insurance industry.
But as the report says: “The real story behind the current unfavorable title insurance market is the deterioration in operating margins, falling to 2.3% from 6.6% in 2006. These operating margins pale in comparison to an industry operating margin in excess of 14% in 2003 during the peak years.”
Surprisingly, however, several noteworthy issues were mentioned, but not deemed to be as harmful as I might have expected, and with financial details likely buried by underwriters who do not wish to enlighten the public and their stockholders about
• Losses due to frequent closing of title agencies because of defalcations
• Higher claims losses due to the poor quality of underwriting during the heavy volume years of 2003-5
Additionally, No mention was made of the enormous penalties paid by Title Companies that we have seen in the past year. And what of the potential consequences for the many outstanding lawsuits for violations of laws that may result in additional fines? Everyone in our industry is keenly aware of problems due to violations of RESPA, issues with affiliated business arrangements and Re-insurance scams, not to mention the Costs of Litigation to defend against numerous suits of wrongdoing. We can only hope that the industry is as stable as its financials suggest.
The full Report can be viewed online at www.Fitchratings.com under Financial Institutions - Insurance - Specialty Reports.
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12.03.07
Posted in Real Estate fun at 4:17 pm by Jeanne
Antique Parchment Deed
I still have a very limited number of Antique Parchment English Deeds (Indentures) for sale. The original Documents, all from the 1800’s, measure about 28 by 20 inches. They are beautiful hand-written penned calligraphy on heavy parchment and make striking one of a kind gifts for framing for home or office.
The term Indenture goes back many centuries, and comes from the crease made in large legal documents when they were folded to fit into Document Boxes, which held a families important papers.
The documents are only $100 per page. Please contact me at LandRecs@aol.com for more information about specific documents. Happy Holidays!
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