Ticor Title Oregon – Blog, Information, & Solutions

Archive for the Portland Metro Category

Best in Class & Getting Better! We’re Fortune #293!

Best in Class & Getting Better!  We’re Fortune #293!

Ticor Title is proud to be recognized as a leader in our industry as a member of the FNF Family of companies. We celebrate that in 2017 our rank has improved to the position of #293 from our previous position of #311 on the Fortune 500.

At Ticor Title, we believe that every transaction begins with a great team. Our team of professionals are committed to personalized service, clear communication, consistency, and the highest standards of conduct to ensure that our clients and partners have a best-in-class closing experience with every transaction.

We would like to thank you for your continuous patronage and support. We look forward to many years of innovation, growth, and successful closings together!

2017 Fortune 500

This year’s Fortune 500 marks the 63rd running of the list. In total, Fortune 500 companies represent two-thirds of the U.S. GDP with $12 trillion in revenues, $890 billion in profits, $19 trillion in market value, and employ 28.2 million people worldwide.

Read more

Protect Your Property Rights With Owner’s Title Insurance

Protect Your Property Rights With Owner’s Title Insurance

Each year, approximately 20% of homebuyers fail to protect themselves by not getting owner’s title insurance. Unfortunately, this leaves them exposed to serious financial risk—causing endless worry and regret.

If you’re thinking of buying a home, here’s what you need to know to protect yourself and your property rights, so you can rest assured once you’ve purchased your home.

Looking For Potential Threats

During the home-closing process, your title professional will help transition the home from the seller to you, the homebuyer, by examining public records. Generally, if a problem is discovered, the title professional works to resolve them before you purchase the home.

However, even after a title search is performed and you purchase your home, problems could arise that threaten your ownership rights. Examples include:

  • Undiscovered tax liens
  • Forged signatures in the chain of title
  • Recording errors
  • Undisclosed easements
  • Title claims by missing heirs* or ex-spouses

Getting owner’s title insurance protects your property rights from threats like these. Here’s a real-life example of how it works.

True Story

A family in Missouri unknowingly purchased their home from a seller who had taken out a separate $419,000 loan on the property. But this fact was not discovered during the closing process, and the family’s lender paid the seller directly instead of paying off the existing loan.

Soon, the family faced foreclosure because someone else had claim against their title. Fortunately, the family had owner’s title insurance. So the title company paid the debt and the family kept their home—and peace of mind.

This story has a positive ending, but without owner’s title insurance, the family could have faced serious costs, and even eviction.

Protect Yourself

There are two types of title insurance: lender’s title insurance and owner’s title insurance.

Lender’s title insurance is required by most lenders and banks because it protects their loan investments. Usually, you purchase this policy as the homebuyer. If you only have a lender’s policy, where the outstanding loan is covered, your equity is not protected. Therefore, you could have your property rights taken away if someone else has claim to your home.

Owner’s title insurance is the policy that protects your property rights from legal and financial threats like those mentioned in the story you just read. That’s why millions of homebuyers each year make the smart decision to get owner’s title insurance. It’s a low, one-time fee that provides the peace of mind that every homebuyer deserves, for as long as you or your family* own your home. In many areas, the seller purchases the policy for you. Ask your title professional how it’s handled in your area.

Support and Free Information

To buy your home with confidence, you need to work with a trusted title professional. They’re the experts who will help you throughout the home closing process. They will also advise you on how to protect your property rights and avoid costly problems by getting owner’s title insurance.

For more information, please contact us.

*This article offers a brief description of insurance coverages, products and services and is meant for informational purposes only. Actual coverages may vary by state, company or locality. You may not be eligible for all of the insurance products, coverages or services described in this article. For exact terms, conditions, exclusions, and limitations, please contact a Ticor Title representative.

Read more

6 Wire Fraud Prevention Tips

6 Wire Fraud Prevention Tips

Wire fraud has become a daily occurrence in our industry. Realtors®, Real Estate Brokers, Buyers and Sellers are targets for wire fraud and many have lost hundreds of thousands of dollars because they wired funds based on wire instructions received via email.

Common Wire Fraud Schemes

A hacker can break into a licensee’s email account to obtain information about upcoming real estate transactions. After monitoring the account to determine the likely timing of a close, the hacker sends an email to the buyer, posing either as the escrow agent or as the licensee. The fraudulent email may contain new wiring instructions or routing information, and request that the Buyer send funds accordingly. They could just as easily send an e-mail to the escrow agent posing as a Seller or a Real Estate Broker instructing the escrow agent to wire seller funds to different account rather than to the account provided at the signing.

Be Alert

Below are the procedures we have implemented at Ticor Title to keep our clients’ information and money safe and secure. We have also provided some tips on what a client should look for.

We encourage you to pass them along to your client so they are aware of the wire fraud scams plaguing our industry.

  1. Ticor Title will not accept disbursement instructions or changes to disbursement instructions via e-mail. Should a circumstance arise that requires disbursement instructions be sent via e-mail we will always contact the client to confirm the information received using a pre-verified phone number.
  2. If we are instructed to e-mail wire instructions to a Broker or a Buyer or Seller, they are always sent using encrypted e-mail.
  3. If your client receives wire instructions via e-mail, instruct them to ALWAYS follow up with a phone call to their escrow closer before they wire funds.
  4. Pay attention to the wording of an email requesting funds. Many fraudsters are “offshore” offenders and their sentence structure may be broken and may contain misspelled words or improper grammar.
  5. Beware of e-mail spoofing. E-mail spoofing is the forgery of an e-mail address so that the message appears to have originated from someone other than the actual source. For instance, you could receive an e-mail that you believe originated from your Escrow Closer or Broker because the e-mail address is the same as theirs. However, if you click on the e-mail address it will disclose the true e-mail address of the originator. E-mail Spoofing is a common tactic used in wire fraud campaigns and if you are not familiar with the tactic you are very likely to follow the instructions contained in the e-mail, believing they came from the proper party.
  6. Be wary of a sudden or urgent request for funds that were not anticipated or required as part of the transaction. Examples include a request for an additional earnest money deposit or extension fee that was not part of the purchase agreement.

Wire Fraud in the News

Click on the links below to view stories recently aired by KOMO 4 news on the subject of wire fraud. Please do not hesitate to contact me with any questions you have or if you would like some additional information on the subject.

http://komonews.com/news/consumer/email-scam-targeting-real-estate-industry-gets-worse

http://komonews.com/news/consumer/real-estate-title-scams-steal-homebuyers-money-and-dash-ownership-dreams

Read more

We’re Growing our Team to Support You!

We’re Growing our Team to Support You!

We are happy to announce that Sarah Degliantoni has made the choice to join the Ticor Title team in Clackamas. With over 10 years of experience working in the Real Estate industry, her wealth of knowledge will bring great value to our clients and partners.

Please join us in welcoming Sarah to the Ticor Title family!

About Sarah

Born and raised in Portland, Oregon, Sarah enjoys all the Pacific Northwest offers and has a deep local knowledge of our Real Estate market. With a “client first” approach, she utilizes her innovative technology experience, marketing savvy and great listening skills to serve her clients at the highest level. She takes a personalized approach with her business partners to provide a unique, first class experience every time. Building strong relationships with clients is one of Sarah’s core values for success. Equipped with Ticor Title’s resources, she is sure to find solutions for your business that fit your lifestyle. She welcomes the opportunity to assist you and looks forward to becoming a lifelong trusted partner.

Sarah Degliantoni

Sales Executive
503-998-9457
sarah.degliantoni@ticortitle.com

Team Clackamas

Kristen M Kristen Merriss
Team Clackamas
Escrow Officer
kristen.merriss@ticortitle.com
teamclackamas@ticortitle.com
t: 503-219-2197 • c: 971-280-2334 • f: 503-652-1139
Carla Filter Carla Filter
Team Clackamas
Escrow Officer
carla.filter@ticortitle.com
teamclackamas@ticortitle.com
o: 503-219-2150 • d: 503-219-2149 • f: 503-652-1139
Merrilee Cornia
AVP | Sales Manager
merrilee.cornia@ticortitle.com
t: 503-219-2147 • c: 503-577-4337 • f: 503-652-1139
Ticor Title • 9200 SE Sunnybrook Blvd, Suite 130 • Clackamas, OR 97015
Customer Resource Center: 503.219.1000
Read more

What is an ID Affidavit and Why is it Needed?

What is an ID Affidavit and Why is it Needed?

Understanding an ID Affidavit

What’s in a name? When a title company seeks to uncover matters affecting title to real property, the answer is, “Quite a bit.”

An ID Affidavit provides title companies with the information they need to distinguish the buyers and sellers of real property from others with similar names. After identifying the true buyers and sellers, title companies may disregard the judgments, liens or other matters on the public records under similar names.

To help you better understand this sensitive subject, below are answers to common questions relating to ID Affidavits.

What is an ID Affidavit?

A Statement of Information is a form routinely requested from the buyer, seller and borrower in a transaction where title insurance is sought. The completed form provides the title company with information needed to adequately examine documents so as to disregard matters which do not affect the property to be insured, matters which actually apply to some other person.

What Does an ID Affidavit Do?

Every day documents affecting real property – liens, court decrees, bankruptcies – are recorded. Whenever a title company uncovers a recorded document in which the name is the same or similar to that of the buyer, seller or borrower in a title transaction, the title company must ask, “Does this document affect the parties we are insuring?” Because if it does, it affects title to the property and would, therefore, be listed as an exception from coverage under the title policy.

A properly completed ID Affidavit will allow the title company to differentiate between parties with the same or similar names when searching documents recorded by name. This protects all parties involved and allows the title company to competently carry out its duties without unnecessary delay.

Read more

Keys to a Successful Escrow Closing

Keys to a Successful Escrow Closing

Closing on a home can be an exciting and stressful process all at the same time. With so many potential speed bumps it’s important we make your closing flow as smooth as possible. At Ticor we believe one of the easiest ways to accomplish this is by educating buyers and sellers as they prepare for the big day. In particular we’d like to highlight some of the simple steps a buyer/seller can take to expedite the process. We call these steps the “Keys to a Successful Closing”.

BUYERS AND SELLERS

  • Provide your escrow officer with your phone number & email.
  • Confirm with your agent that all contingencies have been satisfied.
  • Keep your agent informed of any vacation or travel plans or times you will be unavailable.
  • If you plan to have your documents reviewed by an attorney, please notify your escrow officer at least 48 hours prior to signing.

SELLERS

Gather the following and deliver to your Escrow Officer:

  • Your forwarding address.
  • Any existing payoff information.
  • Identify leased equipment.
  • Homeowner Association information.
  • Utilities (if they are to be paid out of escrow.)
  • Judgment/Liens
  • Any name changes since vesting

BUYERS

  • Notify your escrow officer the names of your lender and homeowner insurance companies.
  • Verify with your loan officer that all conditions have been met.

BEFORE YOUR SIGNING APPOINTMENT

  • Plan to sign at the escrow company one or two business days before the closing date.
  • Expect the signing to last approximately one hour if you are the buyer and 30 minutes if you are the seller
  • Have two pieces of valid ID (one being photo ID) available at your signing appointment: Driver’s License, State ID, Passport, or Green Card.
  • If funds are required to close, be prepared to bring the monies in the form of a cashier’s check or wire transfer. These funds need to be received by the Escrow office 24 hours in advance of the recording/closing date indicated on your Purchase and Sale Agreement.

Read more

A Great Finish to Another Strong Year for Ticor Title

A Great Finish to Another Strong Year for Ticor Title

Ticor Title is a member of the FNF family of companies and the nation’s largest group of title companies and title insurance underwriters that collectively issue more title insurance policies than any other title company in the United States.

FNF Core Title Operation Performance

The fourth quarter of 2016 was a great finish to another strong year for our title insurance business, as we generated fourth quarter adjusted pre-tax title earnings of $292 million and a 15.8% adjusted pre-tax title margin. For the full-year 2016, we produced more than $8.2 billion in total revenue and a 14.7% adjusted pre-tax title margin.

Residential Real Estate Overview

Fidelity National Title Group purchase opened and closed orders increased by 7% and 12%, respectively on a daily basis in the fourth quarter. In addition, the mix of business during the fourth quarter shifted more towards purchase transactions, with purchase business accounting for 59% of open orders and 55% of closed orders.

Commercial Real Estate Overview

Our commercial operations experienced another strong quarter to end 2016. Total commercial revenue of $285 million was our second highest quarterly in company history. For fullyear 2016 total commercial revenue of approximately $973 million was just 5% behind the record setting 2015 performance.

Looking Forward to the Year Ahead

As we progress through 2017, we continue to strive to maximize earnings from our operations and remain the most profitable title insurance company in the country.

Read more

What is Escrow? [video]

What is Escrow? [video]

Making a simple financial transaction is pretty straightforward, right?
You get the goods, he gets the money, and a receipt is your proof of ownership. But how do you make a financial transaction as large and as complicated as a home purchase or refinance?

How Escrow Works

That’s where escrow comes in. Your escrow officer is an essential partner who mediates a complicated financial transaction to make sure it’s done accurately and fairly.

Here’s how it works: When a buyer and seller come to an agreement on the terms of sale, everyone involved gives their part of the transaction to the escrow officer. Then the escrow officer ensures everyone does what they agreed to do before handing over the deed and distributing funds appropriately.

And by the time the property changes hands or the refinance is complete, all the variables are coordinated and everyone has peace of mind it was all done correctly! To learn more about escrow contact your Ticor Title representative.


Escrow Workflow

The Escrow process in 12 steps. This flowchart illustrates which items are performed by escrow and which items are performed by the Lender.
Escrow Workflow
Click here to download

Read more

Improve the Home-Buying Experience with the House-Hunter Scorecard

Improve the Home-Buying Experience with the House-Hunter Scorecard

Ticor Title is happy to offer the House Hunter Scorecard, a simple tool designed to improve the home-buying experience.

House Hunting & Weighing the Options

Deciding on which home to purchase is a major commitment that involves evaluating location, size, price, amenities, and so many other factors. With so many characteristics to assess and compare, it helps to have a tool that can itemize factors, clarify expectations, and build confidence that the home-buyer’s ultimate home choice is the best fit for their desired lifestyle.

Track & Compare Home Preferences

After weeks of looking, it may be easy for a buyer to forget what exactly they liked about homes they’ve viewed. Over time, the details may fade or become vague. However, the House Hunter Scorecard helps to keep a record by organizing and comparing what the buyer likes best about their top two or three home choices.

The House Hunter Scorecard not only includes most of the features needed in a home, it takes into account the importance of the surrounding community and helps the buyer to visualize the lifestyle they seek.

Prioritize & Set Clear Expectations

With the House Hunter Scorecard you can set up a priority list ahead of time and a rank & order features from the most vital to insignificant. This helps to bring focus to the decision making process. Since most home purchases involve compromises on preference, the scorecard helps to weigh the options and make home comparisons easier.

The priority list can also help a Real Estate Professional get a better picture of what the buyer is looking for in a house so they can more accurately suggest houses available that best meet the requirements.
When visiting different homes, buyers can leverage this check list to make notes, see the big picture, and build confidence that their ultimate choice is the best fit for their needs and vision.

Contact your Ticor Title Sales Executive today for a House Hunter Scorecard!

House Hunter Scorecard Download

Download the House Hunter Scorecard in PDF format here.

Read more

Ticor’s Lloyd Center Office Relocation – New Suite

Ticor’s Lloyd Center Office Relocation – New Suite

We moved! (But not too far)

We are pleased to announce that the Ticor Title Lloyd Center office has relocated to a new suite effective January 9th.

We have relocated our Lloyd Center office from suite 1200 to suite 975 in order to provide our clients and partners with an improved closing experience. Our phone numbers, service and staff remain the same.

If you have any questions about the new location or our services, please call us and we’ll be happy to help. We look forward to seeing you at our new location!

Ticor Title Lloyd Center new address:

825 NE Multnomah Street
Suite 975
Portland, OR 97232

Phone: 503-219-1103
Fax: 503-235-0458

New address effective January 9th 2017

Read more
Page 1 of 41234