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Escrow and Title Services News and Trends

Stay on top of escrow and title services news and trends to remain competitive

By Linda C. Ray
Escrow account programs face changes in the industry that affect the way banks and title agencies do business. The home buying arena is continually affected by both political and economic title company news. An escrow agent may be doing great business one day and bankrupt the next. Escrow companies must follow the laws and regulations that are so often in flux.

Trends affecting escrow services take various forms. Real estate and mortgage professionals all are affected by news about escrow companies. By getting involved in escrow service trade groups, you can often help shape the news and trends through legislative action committees if you are in touch with the trends the industry is moving toward. Look for escrow and title services news and trends in a variety of places.

1. Register for email alerts and escrow agreement news feeds.

2. Encourage your staff to read publications for escrow services.

3. Join other professionals in escrow and title trade groups.

 

Get RSS feeds and title company newsletters

Set up a separate an email account to receive news alerts and escrow service newsletters from a variety of sources, including those that consumers are reading, so that you can judge the economic climate in which you are working.
Try: Find valuable trend information at Realty Times. EIN News offers the latest in real estate news, including changes that affect the title and escrow industries.  Keep up with the mortgage industry via National Mortgage News or MortgageDaily.com and with title insurance news at Insurance Journal.

Make information gathering an important piece of your escrow agent business

Escrow and title services don't always send out their latest news in press releases, so you have to find the news from a variety of sources. Take time at staff meetings to share recent news developments and ask that important title company information be turned over to you immediately.
Try: Look for local association chapters, such as the Ventura County Escrow Association, that will bring you relevant national and regional news issues. The Land Title Association of Colorado is another regional group that keeps members up to date with federal regulations that will make a difference to its members and industry professionals.

Participate in associations for escrow companies

Show up at title company association meetings and conferences so that you can build relationships with other professionals who can share important news and trends with you. Register as an affiliate with other peripheral groups such as mortgage lenders and Realtor organizations with whom you do business to hear about rising trends that will affect your business.
Try: The American Escrow Association keeps members updated with the latest news that affects their businesses, including regulatory changes. News from the American Land Title Association will provide you with the information you need each day to make informed business decisions.

 

  • Keep in touch with your board of directors and let them know about escrow service changes that you foresee. By being proactive, your books will always be in compliance with the latest regs put out by the treasury department, especially when there are political administration changes.

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