It’s a brave new world. Are YOU ready to lead the charge?

 

Securely ensconced in the title insurance happenings of 2016, it may seem untenable to dredge up the new-ish Consumer Financial Protection Bureau’s (CFPB) TILA-RESPA integrated disclosure (TRID) forms that went into effect in October 2015. Surely, we’ve all “got it” by now. Right?

Wrong. The confusion rages on.

With the suggestion of the CFPB that “an owner’s title policy is ‘optional,’” confusion amongst lenders and realtors persist. How should realtors instruct their clients in regards to the necessity of title insurance? How should mortgage lenders advise wary buyers in the face of a seeming contradiction?

For title insurance professionals, this misunderstanding provides a unique opportunity to collaborate with lenders and realtors in emphasizing the value of title insurance; to engage all the lending partners in the essential conversation about the necessity of protecting a homeowner’s investment. The implementation of TRID does NOT have to cause a glitch. Instead, the new conversation facilitates a cooperation with each “leg” of the closing team, ensuring the most efficient outcome possible.

At the 2015 Business Strategies conference last year The American Land Title Association (ALTA) president Diane Evans “urged attendees to take the lead and start setting the expectations and having conversations with lenders and other partners on how they will collaborate to exchange information on the new TRID disclosure forms.”

So what do professionals in the title insurance industry need to share with their partners?

Perhaps most obvious, it cannot be overstated that title insurance may be the MOST critical step in protecting the buyer/seller’s investment. Moreover, it benefits all involved parties to maintain a continuity in the understanding of recent changes in the law.

The use of the GFE, HUD-1 and Truth in Lending forms will no longer be included in that huge mound of paperwork at the closing transaction. Instead, the streamlined version of those financial disclosures required by The Truth in Lending Act (TILA) and The Real Estate Settlement Procedure Act (RESPA) will consolidate the forms into two:

1. Loan Estimate: The Loan Estimate is a new form that goes into effect on October 3, 2015. The form provides you with important information, including the estimated interest rate, monthly payment, and total closing costs for the loan
2. Closing Disclosure: is a five-page form that provides final details about the mortgage loan you have selected. It includes the loan terms, your projected monthly payments, and how much you will pay in fees and other costs to get your mortgage (closing costs).

In the title insurance industry, let’s not miss this timely opportunity to accumulate, integrate and disseminate new information and LEAD our lending and real estate partners in providing the most efficient and effective solutions for our customers.

 

Vantage Point Title proudly announces the 6th Annual Eckerd Kids’ Golf Tournament benefiting children living in the child welfare system in Tampa Bay. While many people may relate to nursery rhymes and family folk tales, there remains an alarming portion of the underage population that live in fear, neglect and abusive homes. The cringe-worthy news reports are familiar, but few realize that assistance is within his/her grasp. You CAN make a difference!

Please join VPT in supporting a worthy cause: Eckerd Kids!

“Your generous support of the Eckerd Kids’ Charity Golf Tournament can help provide opportunities for foster children to participate in activities, just like other kids not in foster care. Your support will go towards activities such as ballet or karate lessons, an instrument and needed supplies to participate in the school band, or simply the money to buy a yearbook. Donations will also support efforts to locate adoptive homes for foster children and/or prepare them to transition into adulthood, when needed. Be their champion! Join us on the green on Saturday, April 9th.”

Saturday, April 9, 2016

Innisbrook Resort & Golf Club
36750 US Highway 19 N., Palm Harbor, FL 34684

Registration begins: 12:00 PM | Tee Time:

Foursome: $600 team of four ($500 if registered by Mar 31)

Individual: $150 per person

*All golfer entries include awards luncheon, cart, and goody bag. Sponsorship opportunities are also available.

Vantage Point Title is proud to announce the release of our first app – Perspective By Vantage Point.

With this iOS and Android app, our clients can login and generate real-time fee quotes, check on the status of their files, access Title Profile and much more.

We are already hard at work on version 2.0 with even more features and functionality.

Visit our app page to get more information and the download links.

2015 has been one of the most rewarding and exciting years for Vantage Point Title, Inc. to date. Our success and growth is in large part to the sustained support of our business partners.

In regard to growth, we at Vantage Point Title have continued in improving our reach nationally to provide services to all of our business partners. We have increased our staff size by over 50% from 2014, and moved our corporate headquarters to a new location with over three times the office space. With several record breaking revenue and open order months back to back, we have seen a 53% growth in revenue, stemming from a 56% growth in funded loans from 2014.

Being at the forefront of the title industry, we have been challenged with improving our services. In doing that, we have wrapped up phases one and two of our largest loan origination system integration and have several more in the works.  Going forward, we will be moving all of our infrastructure to a Tier 3 data center which will provide our business partners with increased reliability and security.  We are also launching Perspective by VPT, an Android and IOS Application that will allow customers to place and review orders remotely.

As a result of our progress in 2015, Vantage Point Title has evolved to be one the largest independent title companies in the nation. We are looking forward to building our existing and future relationships in 2016!