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Conference Coverage

NS3 Preview: The latest innovations in title insurance ​

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Conference Coverage
Wednesday, April 20, 2022
At the 2022 National Settlement Services Summit (NS3), taking place June 1-3 in Orlando, Fla., several sessions will examine the cutting edge of innovations in the title space, including with cryptocurrency, remote online notarization (RON) and cybersecurity. Other sessions cover the latest in cash-offer programs, sales techniques and how to future-proof your business.

Day One

On Wednesday, June 1, The Title Report editor Erica Peterson is scheduled to moderate a discussion between HomeLight Closing Services President Ankur Bansal and Changing Latitudes Real Estate CEO and Team Leader Carrie Courtney about how cash is king on the homebuying front. Bansal and Courtney will talk about the proliferation of cash-offer programs and what title companies can do to keep up with evolving expectations. 

“With almost 1 in 3 homes purchased by investors with cash, homebuyers are having a very hard time competing, especially now with interest rates on the rise,” Bansal told October Research. “Agents, their clients as well as title companies will have to adapt to this new normal and utilize modern solutions to win in this rapidly changing real estate landscape.” 

Also on Wednesday, Knight Barry Title Group Chief Operating Officer Craig Haskins and Bowe Digital owner and Chief Inspiration Officer Wayne Stanley will join forces for a fast-paced, interactive conversation on how to best plan for the future of your business. They plan to cover a lot of ground, including technology, talent recruitment and training, growing your business, underwriter relationships, and how to effectively communicate change. 

Day Two

Thursday, June 2, includes sessions on the Cutting Edge track. One features CertfID co-founder and Executive Chairman Tom Cronkright and Stephen Dougherty, cyber-enabled financial fraud investigator with U.S. Secret Service Global Investigative Operations Center, discussing how to best empower employees, partners and customers to provide the strongest line of defense against cybercrime. 

The two will discuss the evolution of phishing, how fraudsters breach email accounts and change settings to avoid detection, domain spoofing strategies and how to educate and engage employees and customers to strengthen cyber security defenses, lowering the risk of a cyber incident, Cronkright said. 

“Email phishing and compromise is the leading cause of cyber breaches. As the threat of data loss and wire fraud continues to escalate in the title industry, it is important to understand how people can either weaken or strengthen cyber defenses,” he added. 

Learn the latest about RON with Evolve Mortgage Services eMortgage Division President Tim Anderson, Boston National Title President Nathan Bossers and Stavvy Head of Legal and Capital Markets Jeremy Potter. As adoption of RON grows nationwide, so does jurisdictional confusion. Learn how RONs work and how to increase your participation. 

Confused about crypto? Learn about these real estate transactions with Armour Settlement Services President and Managing Member Tali Raphaely and World Class Title co-owner Chris Sauerzopf. Dodd Frank Update editor Logan Barno is scheduled to moderate the discussion about how cryptocurrency works and where such transactions are successfully being used. 

Learn the latest trends in the mortgage transaction from the annual lenders panel. Panel members include Movement Mortgage Area Branch Leader Christopher Kiblin, Rocket Mortgage Vice President, Business Development Tony Nuckolls and Kate Steineman, senior vice president, business execution senior manager within the title and closing operations team at Wells Fargo Home Lending. The Closing Exchange CEO Alan Frelix will moderate the discussion. 

The underwriters’ panel is another popular annual presentation, where the leaders of the nation’s top underwriters discuss the hottest industry topics. Panel members include Old Republic National Title Insurance Co. Executive Vice President Jeff Bluhm, First National Title Insurance Co. President and CEO Chris Phillips, Doma President Emilio Fernandez, Stewart Group President, Agency Operations Tara Smith, Fidelity National Financial Executive Vice President, Agency Division Manager Rob Wineman, and First American Title Insurance Co. Executive Vice President, Agency Division President Evan Zanic. 

Day Three

Friday, June 3, includes a change of pace with the informative and entertaining Elliot Eisenberg, chief economist with GraphsandLaughs, a Miami-based economic consulting firm. The internationally acclaimed speaker will share his forecast for the 2022 economy, both the sunny days and cloudy periods. 

Also on Friday, AcuMax Executive Consultant Ed Fisher, Community Title Network CEO and President Mike Ridgway and The Darryl Turner Corp. CEO Darryl Turner will discuss how to optimize your sales success to keep up with the changing industry. 

“Many things have changed forever. I am convinced that the sales process has forever changed in our business,” Ridgway said. “Title agents need to really focus on how to create or modify sales processes that will be effective based on changing dynamics of real estate agents and how they do their business." 

He pointed to national data that shows sales teams are struggling while using their traditional approach, causing burnout. The panel will go over ways to ensure that team members are well positioned for success. 

“Title agents can learn how to avoid these issues going forward by creating a more effective approach to sales,” Ridgway said. “An effective sales program should and will deliver maximum ROI to any title agency. However, to create such ROI, the program needs to match the right person, who has the right mindset, with the right process.” 

Finally, REMAX Premier Properties Realtor Jeannie Torres and Landmark Custom Builder & Remodeling co-founder Eric Waddell will discuss the importance of partner collaboration to achieve a smooth real estate transaction. 

For more information on the NS3 2022, including the agenda and a list of speakers for all three days, click here. You can register for NS3 online or click here to get information on how to register via mail, fax or phone.

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Borrower claims several servicers violated RESPA concerning her loan modification
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12 USC Section 2605 or Section 6 is titled Servicing of mortgage loans and administration of escrow accounts. It pertains to qualified written requests, notices of transfer of servicing and the administration of escrow accounts.
An arrangement that involves a person who is in a position to refer business as part of a real estate settlement service and who has an interest in a settlement services provider.

In the arrangement, the person, who has either an affiliate relationship with or a direct or beneficial ownership interest of more than one percent in a settlement services provider, directly or indirectly refers business to that provider or influences a consumer to select that provider.
An arrangement that involves a person who is in a position to refer business as part of a real estate settlement service and who has an interest in a settlement services provider.

In the arrangement, the person, who has either an affiliate relationship with or a direct or beneficial ownership interest of more than one percent in a settlement services provider, directly or indirectly refers business to that provider or influences a consumer to select that provider.
A mortgage disclosure that lists all estimated charges and fees associated with your loan. In addition to fees and charges, it will list your loan amount, mortgage rate, loan term and estimated monthly payment. Your escrows due at closing for insurance and taxes will also be outlined. Mortgage lenders are legally required to provide a GFE within three days of receiving your application.
A mortgage disclosure that lists all estimated charges and fees associated with your loan. In addition to fees and charges, it will list your loan amount, mortgage rate, loan term and estimated monthly payment. Your escrows due at closing for insurance and taxes will also be outlined. Mortgage lenders are legally required to provide a GFE within three days of receiving your application.
Under RESPA Section 2605(e)(1)(B), a qualified written request is a written correspondence that includes: 1) the name and account of the borrower, or has enough information to allow the servicer identify that information; and 2) a statement of the reasons for the belief of the borrower that the account is in error or provides sufficient detail to the servicer regarding other information sought by the borrower.

A QWR cannot be written on a payment coupon or other payment medium supplied by the servicer.
Under RESPA Section 2605(e)(1)(B), a qualified written request is a written correspondence that includes: 1) the name and account of the borrower, or has enough information to allow the servicer identify that information; and 2) a statement of the reasons for the belief of the borrower that the account is in error or provides sufficient detail to the servicer regarding other information sought by the borrower.

A QWR cannot be written on a payment coupon or other payment medium supplied by the servicer.
12 USC Section 2609 or Section 10 is titled Limitation on requirement of advance deposits in escrow accounts. It governs escrow accounts including notifications and statements to borrowers. Section 10 also sets out penalties for those who violate the section.
RESPA Section 3 provides that a thing of value includes any payment, advance, funds, loan, service or other consideration

Regulation X says thing of value includes: monies, things, discounts, salaries, commissions, fees, duplicate payments of a charge, stock, dividends, distributions of partnership profits, franchise royalties, credits representing monies that may be paid at a future date, the opportunity to participate in a money-making program, retained or increased earnings, increased equity in a parent or subsidiary entity, special bank deposits or accounts, special or unusual banking terms, services of all types at special or free rates, sales or rentals at special prices or rates, lease or rental payments based in whole or in part on the amount of business referred, trips and payment of another person’s expenses or reduction in credit against an existing obligation.
A form used by a settlement or closing agent itemizing all charges imposed on a borrower and seller in a real estate transaction. This form represents the closing transaction and provides each party with a complete list of incoming and outgoing funds. RESPA requires the HUD-1 to be used as the standard real estate settlement form in all transactions in the U.S. involving federally related mortgage loans.
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