Titletalk

During the most recent real estate boom, there was plenty of work for everyone in the real estate industry. Salaries and commissions were high, money was plentiful! It was easy to get loose with spending habits…. after all, the sales contracts and refinance orders kept rolling in!  Well, the times have certainly changed!

How has this affected the title industry?  It has brought and is bringing about massive change….

1. consolidation is occuring — mergers and acquisitions are taking place daily, between both small and large industry players (and underwriters)

2. cost-cutting is rampant — it has never been more important to evaluate ROI

3. technology is huge — the survivors will be those who provide a superior product and service for the lowest cost; and using an Internet-centric system is crucial

We at MG Title are addressing these issues on a daily basis. You can see it in the many improvements we have made over the past year.  If you visit our site regularly (please do!), take note of each improvement!

Thank you for your continued business and support.  –Tom Gimer, Principal

Discussion, Updates

With the recent news about the LandAmerica bankruptcy¹, as well as the stoppage of operations of that company’s 1031 exchange company (along with the loss of millions by unsuspecting 1031 clients), there is considerable public uncertainty concerning the economic condition of the title insurance industry and its players.

MG Title is an exclusive First American Title Insurance Company (FATICO) agent. We are not and have never been affiliated with LandAmerica, Lawyer’s Title Insurance Company, Commonwealth, or any of the other Commonwealth/LandAmerica brands.

Accordingly, we are proud to forward on the following report provided recently by our local FATICO agency rep:

“Dear Valued Agent Partner:
As we weather the current financial storm First American would like to reassure you of our financial strength and security.  A number of independent agencies regularly perform rigorous quantitative analysis in order to assign financial strength ratings to First American. These ratings stand as a testament to the leadership position First American Title holds among its peers. As the title insurance industry’s largest single brand name, with a history that can be traced back to the 1880’s, First American Title knows that with leadership comes responsibility. We believe our ratings portfolio supports that leadership position. You can rest assured that First American Title has the financial strength to be entrusted with your most important investments.
 
Please take a moment to review that attached statement of financial security.  I invite you to contact me directly should you have any questions or concerns.

Thank you for your continuing support and loyalty to First American Title.”

The referenced “statement of financial security” can be found by clicking here.

It’s nice to get some good news every once in a while! –Tom Gimer, Principal

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¹ LandAmerica Financial Group Inc. has filed for Chapter 11 bankruptcy protection and plans to sell its title insurance underwriting subsidiaires to companies under the umbrella of rival Fidelity National Financial Inc., a week after Fidelity backed out of a planned merger of the companies.

Discussion bankruptcy, Commonwealth, First American, LandAmerica, Lawyers, title insurer

The Titletalk blog is a great place to stay on top of Santana’s Team events and updates as well as special offers and promotions from MG Title. Please stay tuned for our November 2008 update… coming shortly! We plan to announce an upcoming event here as well.

You can subscribe to our eNewsletter by completing the form to the right. Note: subscribing to the eNewsletter is not the same as joining Santana’s Team! If you are a real estate professional, consider joining Santana’s Team.  Only Team Members can take advantage of certain promotions, opportunities and events.  View Team details here  The Roster continues to fill with top-notch area professionals.

Don’t forget, if you know you’re going to use MG Title for your upcoming real estate settlement, you can save $75 automatically just by making that order through our online system and entering Promotional Code 090801.  Yes, it is that easy to save!

Thanks for visiting. Please check back regularly as we continue to expand Titletalk.

–Tom Gimer, Santana’s Team Coordinator

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