In a world full of left-swipe worthy businesses, it’s difficult to know which title insurance company to choose for your transaction. Before you swipe right and do business with the wrong title insurance company, here are some things to consider before you choose your perfect match in a title company.
We see it time and time again, a title company seems to pop up overnight and is ready to do business. However, can you trust the work that is being done throughout your transaction? How do you know your private information is protected?
Find out how long the title insurance company has been doing business. A title insurance company that's been in the industry for a longer period knows the ins and outs and can speak to common questions or issues that come up, with ease. A title insurance company’s longevity shows efficient and effective processes in place. And with experience comes stability and peace of mind for all those experiencing the closing process. That leads to the next point.
Life can get busy. Going out of your way to get to, or handle anything thing for your closing can become a hassle. Look for a title insurance company that has multiple locations or can accommodate you during the closing process. Do they offer mobile closing or mobile notary services to their clients? Do they offer e-closings or remote online notaries (RON)? These are just a few of the points you'll want to discuss with your title insurance company.
"A great captain is great only if he has a great team."
Your title insurance company is only as good as the team they provide to their clients. Choosing a title insurance company with a large, experienced, and dedicated staff are the qualities you want in your closing team. It's critical that your closing team has the correct licensing and educational background to get you through the entire closing process.
Don't forget to inquire about the title insurances company's support; Who do they underwrite with? What type of errors & omissions (E&O) policy do they carry? This may all sound foreign to you as a buyer or seller, but this information shows the strength of a title company when difficult situations arise.
A title company with longevity and experience has built a reputation within the real estate industry. You should place your trust in a title company that is the leader in customer and employee satisfaction.
Ask your real estate professional about their experience(s) with the title insurance company. Don't forget to do your online research. Read through online reviews on their social pages, Google and more. It's common to have a problem here or there, but is there a trend your finding with each customer experience?
There are many points to consider when swiping right on your perfect title insurance company. Florida Agency Network brands not only can close your real estate transaction at any of the many locations throughout the State of Florida, but also close your transaction at any place convenient to you with mobile notaries, e-closing and remote online notarization (RON) partners, FAN brands have the large footprint you want to have on your side.
Our closing staff has many years of experience in title insurance and closings. We also work with several underwriters which gives us the resources to close deals other title insurance companies cannot.
Because of our attendees, clients, and friends, Florida Agency Network raised $11,000 for Metropolitan Ministries! Thank you, thank you! We are looking forward to what next year brings!
You can watch a recap video by clicking HERE.
Amy Gregory (CAO), Andrea Somers (Compliance Officer), and Jay Roberts (CTO), of Florida Agency Network were awarded the widely recognized CAMS® credential by the Association of Certified Anti-Money Laundering Specialists® (ACAMS®), the world’s leading organization of professionals in the anti- money laundering (AML) field.
The CAMS (Certified Anti-Money Laundering Specialist) designation is awarded to professionals who successfully complete a rigorous examination demonstrating their aptitude and expertise in anti-money laundering detection and enforcement. The examination covers money laundering and terrorist financing methods, the best practices to stop these and other financial crimes, as well as key related legislation in place worldwide, global AML standards and developing defenses for financial institutions to stop terrorist financing and money laundering.
“Earning the CAMS credential places the successful candidate in an elite group of AML professionals and assures employers in the private and public sectors that they are working with someone with the essential knowledge and background in this crucial and challenging field,” said Timothy D. McClinton, President & Managing Director of ACAMS.
“With more FinCEN geographic targeting orders coming on a regular basis now, we thought it was incredibly important to stay ahead of the curve and be one of the first Title Agencies in the country to achieve this. This credential, along with our SOC 1 and 2, also helps us meet our company goal of providing clients with security to close with any of our brands,” stated Aaron Davis, CEO for Florida Agency Network.
“Achieving this credential is a major accomplishment for us. It further solidifies our company’s commitment to not only providing a safer environment for our customers but also helping to provide a more stable financial landscape in the industry," said Andrea Somers, Compliance Officer for Florida Agency Network.
Founded in 2001, ACAMS is the largest international membership organization dedicated to enhancing the knowledge and expertise of AML/CTF and financial crime detection and prevention professionals. ACAMS’ mission is to provide a global platform for career development for leading professionals in the AML field. ACAMS gives members the insight, information and inspiration they need to protect their institutions against the threat of money laundering, terrorist financing and related financial crime, and the tools to advance their skills and keep the AML professional ahead of those that engage in these criminal activities. CAMS is the most widely recognized AML certification among compliance professionals worldwide.
For more information, please visit www.acams.org.
Contrary to popular belief, a marriage license doesn't necessarily give a spouse automatic power to make decisions on the other spouse's behalf. While spouses may have rights to things like joint bank accounts and medical records, property rights can be restricted. To conduct a real estate transaction on behalf of a spouse or other person, an approved power of attorney is necessary.
WHAT IS A POWER OF ATTORNEY?
For real estate transactions, a power of attorney would need to specify the agent is authorized to make the specific decisions for the buyer or seller's spouse.
WHY DO I NEED A POWER OF ATTORNEY?
Most real estate transactions will not need a power of attorney. However, if your spouse is unable to sign the mortgage or the deed or any other documents needed for various reasons, you will need to have an approved power of attorney.
If there is a power of attorney already created, it's best to get that over to your title company and lender, if applicable, as soon as possible. That way, your closing team and lender has time to review and make sure the power of attorney is approved and ensuring your closing goes as smooth as possible.
WHAT ARE COSTS ASSOCIATED WITH A POWER OF ATTORNEY?
If you're closing with any title brand in The Florida Agency Network and it involves the issuing of your title policy, there is no charges to you for drafting a specific power of attorney for the real estate transaction.
If you need a power of attorney drafted for other reasons or you've made arrangements directly with an attorney, there are possible charges for this. Fees may vary, based on the attorney or law office you and your spouse do business with.
Before starting your real estate transaction, where a power of attorney is needed, make sure the power of attorney is ready or there is a plan in place to get one drafted. Contact any of our offices for more information on how to get the processes started for your closing.
As a new homeowner, protecting your investment is at the top of the “to-do” list. From buying security systems to obtaining homeowners insurance, there are countless ways to protect your investment. Obtaining title insurance through an Owner’s Title Insurance Policy, insures your homeownership rights aren’t affected after you’ve purchased your home.
Here is a list of a few examples that can come up after your home purchase.
For buyers, one of the most important ways to protect your property rights is getting an owner’s title insurance policy, or title insurance. Agencies within The Florida Agency Network provide homeowners with the peace of mind and the smooth closing they deserve.
Contact any of our offices for more information on our closing services and how we can help you during the closing process.
Florida Agency Network (FAN) expands into key Florida markets! Today, April 15, marks the first day of a new merger between Total Title Solutions (TTS) and FAN.
“As a team, we are excited about the services and products that FAN has to offer. We all believe that the TTS way is already above and beyond the standards of the Title Industry,” says Angie Haddon, Chief Operating Officer of TTS. “However, the merger with FAN will make a superior experience! Anyone involved in the real estate transaction will continue to be in GREAT hands.”
FAN will take control of TTS’ operations. Angie Haddon will become a Division Manager for FAN, while Lisa Jahr will be promoted to Regional Manager and will oversee offices throughout the Tampa Bay Area. The merger will bring 27 new team members to the FANily and grow FAN’s geographical footprint by 5 additional offices, which include two in Pinellas, two in Pasco, and one in Hernando County.
“We are so excited to have TTS become part of FAN and continue to grow our footprint in the Tampa Bay Area. Abe, Angie, and the team have a like-minded culture to FAN, and we are grateful for the opportunity to service our clients together,” stated Amy Gregory, President of Title Operations for FAN.
Congrats on your new home! Now, it’s time to get prepared for your move. While there are many details to prep leading up to the big day, we’ve compiled an essential list of moving tips and things to remember based on our experiences
Take it from people who have moved numerous times and hire good movers! If it fits into your budget, we highly recommend hiring a moving company. A professional moving company knows the best way to transport your items as well as how to pack up large items to protect them during the move. However, if a moving company isn’t in your budget, recruit some awesome friends to help.
With both options, make sure to communicate clearly and often about your moving plans. This will make it less stressful for everyone. Also, it doesn’t hurt to help those who are helping you. Everyone loves pizza, right?!
This is pretty straightforward. You don’t want to get into your new home and not have any power. Make sure to call the utility companies in advance to schedule every necessity to be turned on before you arrive.
Packing can be daunting and overwhelming, but if you start as soon as you know you are moving, you can chip away at your moving tasks day by day. We’ve even created a checklist to help! We break it down by time intervals to your move date, with tips for 60-, 30-, 15- and 3-days out from your move date. Download our checklist now!
While you’re at the packing stage, we recommend decluttering. This is your opportunity to get rid of things you no longer need or use. You can give those items to friends or donate to people in need. Bonus? You’ve got less items to pack. It’s a win – win!
Unless you plan on unpacking everything the same day you move, we highly recommend creating a survival kit (or bag). Moving day is exhausting, and the last thing you want to do is search through your boxes to have your essentials handy.
Instead, you can pack an overnight bag like you would if you were traveling. Also, if you want to include some food items and entertainment, you can make sure those are all in one box. What are the things you need to survive in your new home for the next 48-72 hours (or however long you plan on taking to unpack)? Those items are what you need in your survival bag.
Safety comes first all the time. Even if your home is a new build, you should change the locks. You don’t know who or how many people have had access to the keys you were given.
It’s very GREEN and budget friendly to use what you already have as packing materials. You can wrap fragile items in sheets or use them to fill empty space in boxes. Plus, once you’re unpacked, you’ll have less trash to throw away. Just be sure to pack your daily, must-have linens in your survival kit before using them as packing supplies.
And, while we’re utilizing items we already have, how about using your luggage and other similar items as packing receptacles? You’re already taking it with you. This is your time to work smarter, not harder.
Your movers can’t read your mind and don’t have x-ray vision. Labeling each box, either with color codes or text, can help your movers know where to put your items. This is where communication comes in handy, as well. If yellow notates kitchen items, and your movers know you need all kitchen items in, you guessed it, your kitchen, they’ll know to grab all those boxes and put them together.
While your upcoming move might be overwhelming, these 7 tips will help you prepare for the big day! If you need a more in-depth checklist and guide for your move, download our moving guide today. It’s filled with checklists and tips for your moving day.
We hear about it all the time, wire fraud, cyber security, secure networks and portals. We don’t think it can happen to us, until it does.
The way wire fraud cases are handled is changing. No one is exempt from wire fraud, and going forward, everyone in a transaction could be held responsible for the wire fraud.
As Thomas W. Cronkright II, Esq. and Lawrence Duthler, Esq. of CertifID LLC show in their recent report, all participants in a transaction are responsible for wire fraud loss. A recent Kansas Federal District Court decision ruling found a bank, title company, real estate agent, and real estate broker liable in a transaction hit with wire fraud. The cybercriminal hacked into the seller’s agent’s email and was able to reroute the buyer’s wire to a fraudulent bank account. The buyer lost $196,622.76 that day, none of which was recovered.
“The buyer argued that all defendants had a duty to protect them from the losses they incurred and that the failure of these defendants to live up to that duty led to the fraudulent loss of their funds. In response, the defendants responded by arguing that they owed no duty to the buyer because they did not serve in a formal representative or fiduciary capacity.”
While the bank and title company settled in mediation, it was the seller’s real estate agent and broker who were found liable for 85% of the losses during the transaction, since the fraudulent email came from the seller’s agent.
We don’t think it can happen to us, until it does. And if it does, all parties in the transaction may be held liable. Are you ready for it?
“All defendants had a duty to protect them from the losses.” We all have the duty to protect our clients. That’s why it’s so important to do business with a title company who can secure you and your clients. Agencies in the Florida Agency Network are among the Nation’s top 1% in security, compliance and innovative technology. We work hard behind the scenes to make sure everything runs smoothly, and your clients are protected.
For more information on how we can secure your closing, contact us at info@flagency.net or visit any of our offices.
It's a wrap on our inaugural Christmas in July Client Appreciation Party!
We are so thankful and excited about how well our first ever Christmas in July Client Appreciation Party went!
Thanks to the efforts of our clients and employees, we were able to fill three barrels and 10 large bags with toys and supplies for Metropolitan Ministries.
For those who weren't able to attend, we're sorry you had to miss out! Ask any one of the 200+ attendees and they'll let you know that SANTA CAME INTO TOWN!
Santa made a special appearance at the Christmas in July party, handing out goodies to those on the nice AND the naughty list!
But the best part, was all of our clients and friends who were able to join us in the fun celebrations;
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