Ticor Title Oregon – Blog, Information, & Solutions

Archive for the North Coast Category

Shirley Gilbert Announces Retirement – April 1

Shirley Gilbert Announces Retirement – April 1

It is with mixed emotions that we announce the retirement of our Escrow Operations Manager, Shirley Gilbert, effective April 1st.

2018 marks Shirley’s 30th year with the FNTG family. She began her career in escrow in 1988 at Chicago Title in Hayward, CA, spent most of her career in the Willamette Valley and transferred to the coast December 2015.

We consider Shirley to be one of the best in the industry as she is not only experienced with an extensive background and knowledge of the industry but well accomplished and ALWAYS strives to exceed the industry standard.

Although we will all miss Shirley, she has worked hard throughout her career and has earned the opportunity to enjoy more time with her husband, family pets and the beach.

Please join us in wishing Shirley all the best in her retirement!

Pamela Krueger, Escrow Officer

Pamela Krueger

Shirley’sassistant, Pamela Krueger, will be filling the Escrow Officer position and has been working very closely with Shirley over the last year. Pamela has put in the time and effort to become an Escrow Officer and is absolutely thrilled at the opportunity. She is looking forward to providing continued exceptional customer service, communication, and value for their clients.

Pamela Krueger
pamela.krueger@ticortitle.com
Phone: 503-470-8020
422 N Roosevelt Dr
Seaside, OR 97138

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Title Insurance FAQs for Home Buyers

Title Insurance FAQs for Home Buyers

Did you know that title insurance is the most effective, most accepted and least expensive way to protect property ownership rights? Because most consumers purchase title insurance only a handful of times in a lifetime, questions do arise when the time comes to purchase a property.

What is Title?

Title is your ownership right to your property.

What is Title Insurance?

Title insurance is a policy that protects your investment and property rights. There are two different types of title insurance: owner’s policy and lender’s policy.

OWNER’S POLICY

An owner’s policy protects your property rights for as long as you or your heirs own the home.

LENDER’S POLICY

A lender’s policy is usually required by the lender and protects only the lender’s financial interests. The buyer typically pays for this policy, but this varies depending on geography. For more information, please contact your Ticor Title Representative.

Why Should I Purchase Owners Title Insurance?

Owner’s title insurance is the best way to protect your property from future legal claims. It’s a one-time fee that covers you and your heirs for as long as you own your home. The owner’s policy also covers potential legal fees for settling claims against your property rights.

What Does Owner’s Title Insurance Cost?

The one-time payment for owner’s title insurance is low relative to the value of your home. The typical owner’s title insurance policy costs around 0.5% of the home’s purchase price.

How Long Am I Covered?

Your owner’s insurance policy lasts for as long as you or your heirs own your property. Your life will change over time, but your peace of mind never will.

Where Can I Get More Information?

Ticor Title helps educate homebuyers like you about the value of title insurance so you can protect your property rights. Contact a Ticor Title representative today to learn more about title insurance and the home closing process.

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Real Estate Buyer & Seller Guide for Title and Escrow

Real Estate Buyer & Seller Guide for Title and Escrow

We are pleased to announce the availability of Ticor Title’s comprehensive Buyer/Seller guide in PDF and eBook Formats. This guide is designed to provide meaningful information and answer commonly asked questions that home buyers and sellers have throughout a real estate transaction.

Our goal with the Buyer/Seller Guide is to improve the overall experience of buyers and sellers by providing education and insights that demystify Title Insurance, Escrow, the CFPB, Taxes and more. This guide is a useful tool in setting proper expectations for the complex process of buying and selling a home.

How to Get the Buyer & Seller Guide

For your convenience, there are three ways to access the guide:

Downloadable PDF Download the Buyer & Seller Guide in PDF format for viewing, sharing, and local print. Download here: Buyer and Seller Guide to Title & Escrow
eBooklet eBooklet format presents well on tablets, smart-phones, and desktops and provides a means of linking to and sharing individual pages or sections of the document. Click here to view the Buyer & Seller Guide in eBook format.
Print The Buyer & Seller Guide is available in a high-quality print format upon request. Please contact your Ticor Title Sales Executive to reserve yours today.

The guide provides insights and information on the following:

Click any item below to view.

TITLE

The Title Insurance Value Proposition: 10 Reasons
What is Title? – FAQ
Why You Need Title Insurance – 21 Reasons
Life of a Title Search
Title Policy Comparison Chart
What is the Title Commitment?
Common Ways To Hold Title in Oregon
ID Affidavit – Why is it Needed?

ESCROW & TAXES

Escrow: FAQ
The Escrow Process
The Life of an Escrow
Opening Escrow
Red Flags in the Escrow / Title Process
Other Parties to an Escrow Transaction
The Loan Process
PMI Private Mortgage Insurance – FAQ

Taxes
PATH Act
Loan FAQ
What is Payoff
Property Tax – Annual Calendar
Closing Costs: What Buyers & Sellers Typically Pay For

CONSUMER FINANCIAL PROTECTION BUREAU

Consumer Financial Protection Bureau (CFPB)
What is Consumer Financial Protection Bureau? (CFPB)
Will The New CFPB Rule Delay My Closing?
Purchase Title / Escrow Order Workflow
The New Closing Disclosure Explained

TERMS

Glossary of Terms

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Announcing Jodi Carlson – Branch Manager, Astoria

Announcing Jodi Carlson – Branch Manager, Astoria

We are pleased to announce the promotion of Jodi Carlson to Branch Manager of our Astoria location. Jodi’s wealth of experience and history with our company have elevated her to a natural position of leadership and we are confident that our clients, partners, and staff will benefit from her management role in Astoria.

Please join us in congratulating Jodi!

About Jodi Carlson

Jodi was born and raised in Knappa, Oregon and graduated from Knappa High School. Her career with Ticor Title began in 1993 and she progressed consistently, holding the positions of Posting Locating, Examiner, Recorder, Policy Department, and Title Officer. She is proud to have learned her craft under the guidance of Karen Campbell, Ken Johnson, and Tami Malcom, who are among the best in the title community.

Jodi has been married to her husband Clint for 20 years, and together they have a daughter, Sophia. In her free time, Jodi enjoys watching her daughter’s sporting events and loves to read, hike, and travel.

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True Story – Escrow Closer Thwarts Last-Minute Wire Fraud Scheme

True Story – Escrow Closer Thwarts Last-Minute Wire Fraud Scheme

Leanne S., AVP Branch Manager of one of our sister offices, had a closing at 10:00 a.m. The buyer was obtaining a new loan to purchase the home. The buyer had not yet wired in the closing funds so she could not disburse the proceeds to the sellers.

Leanne made arrangements with the sellers at the closing to pick up the proceeds check later that day. The sellers indicated they were going to use the funds to pay off the home equity loan on their primary residence with Navy Federal Credit Union®.

A Last-Minute Change Requested via Email

Within 10 minutes after the buyer and sellers left her office she received the following email:

Hi Leanne,

Thank you so much for assisting with the closing. But regarding our disbursement can you assist with changing disbursing to our Sun Trust bank account. Please note that this is very important. Kindly get back to me so I can send you wire instructions.

Thanks
Mr. and Mrs. Marty G.

Wire Instructions via Email are a Red Flag

Leanne was confused. She just spoke to the sellers about the fact they bank at Navy Federal Credit Union. They never mentioned anything about SunTrust℠ being their bank. Plus, Marty was very specific about picking up his check.

Leanne replied to the email explaining she would not be able to accommodate his request unless he came back to her office to complete and sign her wire out instructions, and provide a copy of a voided check from his SunTrust account. She never received a reply to her email and Marty confirmed he never sent that email.

Careful Communication is Key

Leanne was confident she knew the email was a scam. She spoke in detail to the sellers about when their proceeds would be available, she knew their plans for the money and where they banked.

Leanne was particularly unnerved about the fact the hacker seemed to know exactly when the closing was scheduled for and when the sellers had left her office. It is scary how savvy the hackers were.

The proceeds were in excess of $355,000. Had Leanne not paid attention to the details, she could have fallen for the scheme. Instead, she is being rewarded and recognized for thwarting a loss the Company could have suffered.

Be Aware!

Online banking fraud is on the rise. If you receive an email containing WIRE TRANSFER INSTRUCTIONS call your escrow officer immediately to verify the information prior to sending funds.

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New Location December 18 – Ticor Title Tillamook

New Location December 18 – Ticor Title Tillamook

We are excited to announce that the Ticor Title Tillamook office will have a new location as of Monday, December 18. We will be closing our 2211 Third St. location at noon on Friday, December 15 to make the move. Our new location will provide improved amenities, greater accessibility, and a more upscale experience for our Tillamook area clients and partners. You can expect the same high standards of service from our current team of professionals.

Ticor Title Tillamook New Location – Dec 18

Ticor Title
802 Main Ave.
Tillamook, OR 97141

(503) 842-5533

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2018 Recorder’s Office Holiday Closure Schedules

2018 Recorder’s Office Holiday Closure Schedules

We are pleased to announce the availability of the 2018 Recorder’s Office Holiday Closure schedules for the primary areas that we serve in Oregon. These calendars assist in planning the timing of escrow closings at a glance, and each conveniently shows the following:

  • Days that the recorders offices will be closed
  • The last refinance-signing day for each month (in order to fund & record that month).
  • When Taxes become due

Visit www.TicorNW.com to view or download the calendar for your area

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Escrow & Title Insurance 101 [videos]

Escrow & Title Insurance 101 [videos]

A Rare and Exciting Event

For most of us, purchasing a home is an event that happens only a few times in our lifetime. Today’s homeowner stays in their home an average of 11-15 years. So it’s understandable that the typical home buyer may be unfamiliar with how escrow operates, what protection title insurance provides, and how to be ready for the escrow process when the time comes to make a real estate purchase.

Title & Escrow in Plain English

We’ve assembled a series of brief videos here that provide an overview of escrow & title insurance as well as insights into what to look for in a title insurance company and how to be prepared for escrow closing.

The Title & Escrow Experts

At Ticor Title, we’ve been insuring the home ownership dream for over a century. With a rich Pacific Northwest history and industry-leading financial strength, we provide the peace of mind and the personalized service that make the closing experience excellent for our clients and partners. If you have questions about the role of escrow or title insurance in your real estate transaction, our team of experts are here to help.

What is Escrow

What is Title Insurance

What to Look for in a Title Insurance Company

What to Expect at Closing

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Closing Soon in an Office Near You!

Closing Soon in an Office Near You!

Ticor Title is thrilled to announce the return of our very own Tricia Sopko to the escrow department in our Astoria office effective Monday October 2.

About Tricia

Tricia began her career with Ticor Title in 2002 and has been working in our customer service and title departments, spending the last 5 years working remotely. Now that her children are both in school she is looking forward to coming back to the Astoria Office. She is excited to transition from the Title side into the Escrow side of our operation and is rapidly progressing into an Escrow Officer position to run her own desk.

Please join us in welcoming Tricia back to our Astoria Ticor Title location!


Tricia Sopko
Escrow Closer
tricia.sopko@TicorTitle.Com
503-325-2144

630 Bond St
Astoria, OR 97103

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True Story: A Vacant Lot & Fake Sellers Caught

True Story: A Vacant Lot & Fake Sellers Caught

Teri D., Closing Officer at one of our agencies, was processing a sale of a vacant, waterfront lot. The sales price was $205,000; a cash purchase. The purchaser paid $5,000 as earnest money and was working with a builder on plans to build a home on the lot.

Since the property was a vacant lot Teri realized the seller’s mailing address would be different than the property address; her office has an added precaution in place where the address provided is compared with the address for the tax bill on the tax assessor’s website.

Confirmation & Connecting with the Sellers

Teri discovered the vacant property address was different than the tax bill address. She sent a letter to the seller at the address listed on the tax bill introducing herself, her company and asking the seller to contact her to confirm the sale of the lot. The buyer was not obtaining a new loan so about a week later they were ready to close. Teri prepared the closing documents on Friday, March 31, 2017. She contacted the listing agent to find out where and how she should send the closing documents. The listing agent advised her to email the closing documents to the seller. Once again, in an effort to ensure there was no funny business going on, Teri also sent the documents via overnight delivery to the address on the tax bill. Everything was sent on Monday, April 3, 2017.

We’re Not Selling

On April 5, 2017, the real owners of the vacant lot called the Agency and asked to speak with the President. Brice C. took their call. The owners explained to Brice they received a letter and overnight package from his company. They told him they were not selling their lot and did not have it listed for sale. Further, they stated they already explained this to the listing agent on March 24, 2017. That was twelve days ago. Teri wondered why the listing agent did not tell her that when she called on March 31, 2017?

Questions for the Listing Agent

Brice called Teri into his office to share what he learned. She immediately called the listing agent to notify him the real owners just called her company’s president. She asked him why he did not tell her he spoke to them on March 24, 2017. The listing agent explained after receiving the email about the property, unbeknownst to him, he asked the fake sellers for identification. They showed him their passports. He asked for copies and they gave him copies. It never occurred to him they were false.

The real owners had forwarded their email exchange with the listing agent to Brice, where they confirmed they were the owners of the lot and were not interested in selling. Teri also asked the listing agent why he provided her with a different email address for the seller than the one he received from the real owners who communicated with him. He simply huffed at her. Was he really going to let this deal close knowing all of this? She will never know.

No, Thank You!

Fortunately for Teri this agent does not usually do business with her. It was the selling agent who encouraged the buyers to select her as their closing agent. The company resigned from the transaction.

Teri recognized the risks associated with sales where the property owner is absentee. Simply checking the tax bill and sending a notice to the address listed on the bill saved the agency and the underwriter from a potential claim.

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