Title Insurance Industry Sees Generational Shift: What Is Your Company Doing to Recruit and Retain Future Leaders?
It seems like every day, another news story about millennials is making the rounds. However, one important story needs to be told: the story of how the title insurance industry is going to recruit and retain the youngest segment of the workforce and tomorrow's leaders.
In a recent Advocacy Update, ALTA noted how the workforce in general is "undergoing a major generational shift," stating, "This is especially true in our industry. The median age of a worker in the United States is 42.2 years old. In our industry it's even higher, at roughly 45.7 years."
TLTA wants to know what your company is doing to recruit and retain millennials. What steps are you taking to ensure the next generation of title insurance professionals is trained and ready for the future? Share your thoughts with us!
One important tool in training your newest employees is Title 101: An Introduction to Title Insurance in Texas, a twelve-part online learning program that provides basic training and knowledge on the fundamental aspects of our industry. Another tool is the live, in-person Land Title School of Texas
, the gold standard in Texas title insurance education. Registration and hotel room reservations are now open for the School. It often sells out, so save your seat today!
Fraud News: Title Insurance Company Sued in Wire Fraud Case; Ways to Prevent Fraud at Your Company
A Colorado couple, who lost their life savings while trying to buy their dream retirement home, has filed suit against Wells Fargo Bank, Land Title Guarantee Co., Envoy Mortgage Ltd., Kentwood Real Estate Services LLC and Realtor Karen Porras, alleging that none of them did enough to protect sensitive financial information.
Read More »
Wire fraud and cyber crime are serious problems that affect companies all over the globe. To help combat this, TLTA will hold Emerging Technologies, Cyber Crime Prevention, Scams and Schemes
, a pre-Institute cyber fraud program, on Wednesday, Dec. 6, the day before the Texas Land Title Institute. This educational opportunity is designed to update owners, managers and title industry professionals with tips and tools to help them avoid becoming victims. Registration and more information is coming soon. Save the date for this important program!
In addition, below are some new and recent articles and tools that can help you and your employees understand what fraud schemes are out there and how to prevent them.
Read "Are You Vulnerable to This Hacking Attack?" (ALTA) »
Read "Buying a Home? Watch Out for Mortgage Closing Scams" (CFPB) »
Read "Beware of Wire Fraud Schemes When Buying a Home" (ALTA) »
Read "Don’t Be a Victim of These Common Fraud Schemes" (TLTA) »
Register for TLTA's On-Demand Webinar "False Sense of Cyber Security" »
Business Matters: Developing Cyber-Savvy Workforce Vital to Reducing Risk; The First-Time Homebuyer Information Gap
One in five U.S. organizations that participated in the Willis Towers Watson 2017 Cyber Risk Surveys reported that a cyber breach in the last year with 6 percent of those incidents having been significant, consistent with publicized recent large cyber breaches. Willis Towers Watson carried out web-based surveys with 163 U.S. employers and with over 2,000 employees. A quarter of these employees work in a corporate IT function.
Read "Survey: Developing Cyber-Savvy Workforce Vital to Reducing Risk" (ALTA) »
In addition, a new study released by Bank of America has found that most first-time homebuyers are unaware of the potential uses of a home equity line of credit (HELOC). According to the data, more than 36 percent of first-time homebuyers wouldn’t open a HELOC because of a lack of understanding as to how it works. Of those that would, the disparity on what they would use it for is evident between experienced homebuyers and first-time homebuyers.
Read "The First-Time Homebuyer Information Gap" (The M Report) »
If you need resources to help you explain title insurance to your first-time homebuyer customers, TLTA's Texas Title Insurance Toolbox can help! View the Toolbox to find fact-filled one-pagers and more.
Quiz Time: Gramm-Leach-Bliley Act
American Land Title Association | July 13, 2017
The following is a Q&A on a few data/document-sharing scenarios as they relate to compliance with the Gramm-Leach-Bliley Act. Answers were provided by Richard Andreano and Kevin Leitao of the law firm Ballard Spahr.
Read More »
Recording News: How a Home Bargain Became a "Pain in the Butt," and Worse
New York Times | July 7, 2017
James R. Williams thought he had found a great deal on a home. Instead, he will almost certainly never own the house. His grandson has lead poisoning from peeling paint. Plus, the house's ownership has changed three times in five years, making it difficult for him to deal with an overdue water bill of several thousand dollars, keep current with the property taxes and figure out where to send the monthly checks under the 30-year contract he signed.
Williams signed a high-interest, seller-financed deal known as a contract for deed that works like an installment plan for housing. These deals can quickly turn into money traps. Contracts for deeds are difficult to track because the transactions are not recorded in many states. It can become difficult to determine who actually owns the property — and who is responsible for its upkeep and paying property taxes — often because the original contract is sold to several investors over time. A Uniform Law Commission committee looking into the matter conducted a survey that “found problems or abuses with contract for deed in 80 percent of the states.”
Read More »
Voted Most Popular: TLTA's Top Five On-Demand Webinars
TLTA's On-Demand webinars are popular – and for good reasons! They can get you the CE credits and knowledge you need, at a time that works for you.
Below are our top five On-Demand webinars for June and July. Register for one today!
See the Full On-Demand Webinar Catalogue »
- Decedents’ Estates
- Commercial Transactions: Papering a Smooth Closing
- Ethics: Things You Shouldn't Do
- Surveys: Why Survey Matters Matter
- Commercial Transactions: A Race Against the Clock
Hire the Best With the TLTA Career Center
At TLTA, we strongly believe that filling your employment opportunities shouldn't break the bank. When your organization calls for three, five or even 20 candidates to take on new roles, why not fulfill your hiring needs and save money at the same time? With our multiple job posting packages, you can earn discounts for purchasing your postings in advance and enjoy the luxury of taking up to 365 days to post all of your jobs with full resume access. It's a great way to lock in year-round savings and cover your entire recruitment needs. You can:
- Reach more candidates with new job seekers each month
- Access resumes from qualified title professionals
- Receive email alerts when resumes matching your ideal candidate are uploaded
- Use our advertising enhancements for increased visibility
Ready to recruit from a large pool of highly qualified professionals that are a great match for your organization? Visit the TLTA Career Center today and see for yourself why this is the #1 site for making employment connections in the Texas title industry.
TLTA is scheduling live webinars for summer 2017. Register now, or reserve an On-Demand webinar today!