Real Estate Trends

Top 5 Takeaways from ALTA One 2019

November 01, 2019 - Posted by Maura A. Snabes, Esq., CES®, CLTP - Sr. Underwriting & Compliance Counsel

ALTA One 2019

The American Land Title Association (ALTA) One 2019 Conference was held in Austin, Texas, the “live music capital of the world.” This year’s theme was “Unbound,” and with live music everywhere, Austin provided a perfect place to encourage everyone to break free of limitations and think outside the box. Outgoing ALTA President Cynthia Durham, NTP, enhanced the theme by singing her creative farewell speech to Taylor Swift’s hit “You need to calm down.”  Overall, the ALTA One conference was an exceptional experience that brought the industry together to examine the evolution of the title insurance, closing, and settlement industry and to plan for the future. Here are the top 5 takeaways:

1. Industry Workforce Issues

There is a focus on and awareness of the continually changing state of recruiting for our industry and how to build a flexible workplace that will attract and retain employees. Concentration is on the millennial workforce, remote and virtual office space, job sharing, job advancement, and job satisfaction.

2. Commercial Considerations

Alternative energy projects are hot right now, specifically wind farm and solar transactions. These and other alternative energy projects offer developers owning or seeking large tracts of land numerous commercial opportunities. In other commercial markets, retail seems to be on a decline, while industrial and apartment housing is looking up. In all cases, every party involved in these complex transactions want experienced, competent title professionals to handle every aspect of their transaction from search to policy.

3. Title Policy Revisions

Revised ALTA Title policies are coming. The ALTA 2006 policies are being updated and revised to include references to electronic recording and signing thereby modernizing the product to keep up with legal changes, to provide more clarity on ambiguous terms and coverages, and to provide a more favorable definition of “Insured” under a loan policy to include the party that is the holder of the indebtedness. They will also specifically state that the policy is a contract of indemnity (and not a guarantee).

4. Bad Guys Are Still Out There

Cyber Security continues to remain a top concern for everyone in both personal and professional lives. Rachel Wilson, who spent 15 years of her career running counter-terrorism operations at the NSA detecting and disrupting terrorist plots, left us shaking in our cowboy boots by planting seeds of new concerns. We need to continue to be vigilant each and every day, protecting our client’s confidentiality of personal data, downloading information from unsecured apps and portals, and of course, verbally confirming all wire information with a human being at a trusted number.

5. Purpose

What is your purpose—in life, in business? Motivational speaker, Roy Spence, Co-founder of GSD&M advertising and marketing agency in Austin, and CEO of The Purpose Institute, spoke about the central purpose that captures the difference an organization can make in the world. Roy said that our purpose in our industry is to ensure that we help preserve the American Dream of homeownership and that this dream does not turn into a nightmare. This entails making sure the title is clean and clear, which in this world of mass chaos, means that we provide the homeowner with one less thing to worry about. As title and real estate professionals, we have a definite purpose!

 

ALTA One 2019 was attended by Debbie Bartlett and Maura Snabes of CSS. Working with CSS for title and closing services can improve your results with a tailor-made solution that is suitable for your organization's needs. Contact us today to discuss how we can help you create an exceptional title and closing experience.

RECENT NEWS & INSIGHTS

Top 5 Takeaways from ALTA One 2019
Nov 1, 2019 by Maura A. Snabes, Esq., CES®, CLTP - Sr. Underwriting & Compliance Counsel
3 Harmful Real Estate Scams To Know And How To Avoid Them
Sep 26, 2019 by Debbie Bartlett - EVP, Title & Closing Operations

Fraudsters continue to implement new strategies to divert wire transfers in connection with real estate transactions. One of the most recent...

Continue Reading
Title & Closing For Regional Lenders: Time for a New Centralized Model!
Sep 16, 2019 by Jerome Jelinek - CEO

While regional lenders have historically narrowed working relationships to a few AMCs and home equity title, valuation & flood vendors, the...

Continue Reading
Opportunity Zones vs. 1031 Exchanges—Can They Co-exist?
Aug 13, 2019 by Maura A. Snabes, Esq., CES®, CLTP - Sr. Underwriting & Compliance Counsel

Many real estate investors are familiar with the parameters and tax advantages of a Section 1031 tax-deferred exchange to defer the payment of...

Continue Reading
Cannabis Real Estate Transactions: Weeding Out The Confusion
Jul 10, 2019 by Beccy Clennan - Manager of Commercial Title & Escrow

Has the passage of recent Marijuana laws made the real estate industry in Michigan more confusing? Closing a cannabis transaction could be easier...

Continue Reading
2019 Summer Newsletter
Jul 8, 2019 by Maura A. Snabes, Esq., CES®, CLTP - Sr. Underwriting & Compliance Counsel

What's New:

Summer is FINALLY here, the temperatures are increasing, and so is real estate activity! A strong job market and low mortgage rates...

Continue Reading
How to Cater to the Millennial Homebuyer
May 28, 2019 by Debbie Bartlett - EVP, Title & Closing Operations

The Millennial Homebuyer is projected to dominate the housing market in the not too distant future. Sharing audience traits and characteristics...

Continue Reading
Advantage AVM Cascade: Get Better Results and Lower Costs
Apr 22, 2019 by Kevin Ingles - Vice President Customer Development

An AVM Cascade could help your bottom line in a multitude of ways. Are you interested in reducing origination turn-times with limited additional...

Continue Reading
Electronic Remote Online Notary (RON) in Michigan
Mar 20, 2019 by Debbie Bartlett - EVP, Title & Closing Operations

Electronic remote online notary (RON) closings are soon to become the new normal in Michigan. As a Realtor, if you haven’t been experimenting with...

Continue Reading
Use of Electronic Signatures & Remote Online Notarization
Mar 19, 2019 by Jerome Jelinek - CEO

Many in the lending community still harbor reservations over the use of electronic signatures and remote online notarizations. This article is...

Continue Reading
Cyber-security Protection Checklist
Feb 13, 2019 by Eric Henke

A cyber-security breach could lead to serious financial and reputational damage for your customer. Please help ensure that your customers are...

Continue Reading
Hybrid Appraisals: A Viable Alternative to Traditional Appraisals?
Feb 13, 2019 by William Janke

Hybrid appraisals have become more prevalent and accepted by the lending industry as an alternative to traditional appraisals. Benefits to lenders...

Continue Reading