Title Industry Cloud Service Cyber Attack

Posted on July 21, 2021 by Alisia Leyva

We’ve published many articles on the seriousness of cyber attacks in the title industry – to read on about how you can protect your investment, check out our articles, here.

Recently, cyber attackers infiltrated a major title industry cloud service provider, Cloudstar. Cloudstar is still, currently, offline following the attack.

According to the American Land Title Association (ALTA), Cloudstar operates six data centers throughout the United States and has more than 42,000 users (Alliance Title currently has not used Cloudstar in the past or presently).

Cloudstar immediately brought in third-party experts to assist in recovery efforts and law enforcement.

Anne Neuberger, Deputy National Security Advisor for Cyber and Emerging Technology, wrote to business leaders under the Biden administration this past June on the importance of stopping and punishing ransomware attacks. The letter explains the Biden administration’s urgency to seek to disrupt cyber attacks and holding “countries that harbor ransomware actors accountable.”

The Cybersecurity and Infrastructure Security Agency (CISA) has developed a ransomeware guide that includes best practices and a response checklist. Review here.

For more real estate industry news, stop by Alliance Title’s Blog.

Remote Online Notarization & ALTA Support

Posted on May 19, 2021 by Alisia Leyva

U.S. Sens. Mark Warner (D-Va.) and Kevin Cramer (R-N.D.) have reintroduced the bipartisan bill, The Securing and Enabling Commerce Using Remote and Electronic (SECURE) Notarization Act of 2021 (Senate Bill 1625) that would allow for immediate nationwide use of remote online notarization (RON) – this would allow the notary and signer to complete the transaction in different physical locations.

This bill is supported by the American Land Title Association (ALTA), the Mortgage Bankers Association, and the National Association of Realtors.

What would the SECURE Notarization Act do, exactly?

ALTA lists them on their article, here:

Authorize every notary in the U.S. to perform RON.
Create national standards requiring use of tamper-evident technology, multifactor authentication of a signer and retention of an audio-visual recording of the notarial act.
Allow signers outside the U.S., such as military personnel and their families, to easily and securely notarize documents.
Create national standards requiring use of tamper-evident technology.
Follow a similar structure of complementary state/federal legislation, such as the Electronic Signatures in Global and National Commerce Act (ESIGN) and the Uniform Electronic Transactions Act (UETA).

Diane Tomb, ALTA”s Chief Executive Officer, explains, “The SECURE Notarization Act allows businesses and consumers the ability to execute critical documents using two-way audiovisual communication. Current requirements for a signer to physically be in the presence of a notary are often impractical and sometimes impossible due to social distancing limitations resulting from the spread of COVID-19, as well as other roadblocks for in-person signing, like military service overseas and time constraints.”

The 2021 ATLA Advocacy Summit (currently virtually underway) will discuss this bill further and encourage members of Congress to support the bill.

Title Insurers’ Crazy 2020 Year

Posted on April 16, 2021 by Alisia Leyva

It should come as no surprise to escrow and title officers – 2020 was an incredibly busy time for the title industry.

According to a recent report from the American Land Title Association, title insurers wrote $19.2 billion in premiums. That’s nearly a 22% increase from $15.8 billion in 2019. They do, however, predict that 2021 will slow down due to low inventory.

ALTA Chief Executive, Diane Tomb, explains, “Do not expect the same level of refinance activity this year, even though the residential purchase market appears to be holding steady as the calendar approaches to May. The true test of whether 2020 volume represents a unique event will be whether the historically low inventory of homes for sale continues into the summer.”

It seems, so far, that 2021 is still a bit hectic for buyers, sellers, agents, and lenders. The hope was that low inventory would work its way back to higher levels before the summer, but builders are still struggling to keep up with demand.

For more real estate and title news, stop by Alliance Title’s Blog.

Homeowner 101: How to Cut on Utility Costs

Posted on March 12, 2021 by Alisia Leyva

Want to be the best homeowner possible, but don’t know where to start?

Let’s take a look at your utility costs – how much are you spending? There’s always wiggle room to make adjustments in your day-to-day life to save money.

If you want to be a smart homeowner and cut down on utility costs, check out some of our tips below:

Thermostat

The tricky thermostat!
If you set your thermostat at a specific temperature and never touch it, you could be wasting a lot of money year over year.

Instead of leaving the thermostat alone for extended hours/days at a time, try to set your thermostat 5-8 degrees higher in the summer and 10-15 degrees lower in the winter, when your home will be empty for 8 hours or longer. When you get home, set the thermostat back to where you like it. This little maneuver could save you 5-15% on your yearly energy costs!

Also, it’s important to keep your heating and air conditioning unit running at its best by changing the filters regularly.

Appliances

Don’t run appliances (dishwasher, clothes dryer) during the day! If you can, run these appliances later in the evening, or before bedtime. Utility companies usually charge more for energy that’s being used during peak times – i.e., during the day.

When you run your clothes washer, be sure to use the cold water setting. Almost 90% of the energy your washing machine uses is for heating the water. Yikes!

For dishwasher tricks, try using the energy-saving cycle (if you have that option). You could also try the “air-dry/no-heat” feature, or prop the door open for air drying.

Lighting

Think about using LED lightbulbs to save money. These bulbs use less energy and last longer than other bulbs – about 80% less power and 42 times longer!

Being the best homeowner takes research, care, and experience! For more real estate tips and homeowner guides, stop by Alliance Title’s Blog!

Stop! When’s Closing Time?

Posted on March 10, 2021 by Alisia Leyva

Semisonic’s song, “Closing Time,” might come to mind when you are itching to close on your first-ever home and become an official homeowner:

“Closing time, open all the doors and let you out into the world”

Except – when exactly is “closing time” for the real estate world? How long can you expect your closing to take?

According to an origination report from ICE Mortgage Technology, the average time to close all transaction types averaged 58 days in December, which is an increase of 10 days when compared to the same month a year ago.

The average time to close a refinance held at 59 days month over month, and the average time to close purchase increased from 56 days in December to 57 days in January.

For more, stop by ALTA’s News Archive, here.

Check out Alliance’s Blog to further your current real estate knowledge.

Title Technology in the Pandemic Age

Posted on November 20, 2020 by Alisia Leyva

COVID has increased the urgency of title companies needing digital tools to provide safe transactions for clients. As we’ve seen, technology doesn’t seem to be a problem, but rather – integration.

Volume on Notarizing platforms have increased 600% since April – but many real estate experts in the field believe there is still a long way for full digital adoption.

Tyler Thompson, Second Century Ventures and REACH Managing Partner, explains, “We need better integration from real estate, mortgage to title; remote online notarization is a huge part of that.”

For many in the title industry world, the need for highlighting and focusing on the consumer is something the industry should dedicate towards. Clients need a more streamlined process to secure their real estate goals.

The future is bright – and it looks like the push towards full integration is on everyone’s horizon.

For more real estate and title news, stop by Alliance Title’s Blog.

Real Estate Tip of the Week: Choosing your Real Estate Agent

Posted on July 28, 2020 by Alisia Leyva — 2 Comments ↓

Yay! You’re in the market to purchase a house – or maybe sell! One of the first steps to take is to find a real estate agent to help guide you through the process. A real estate agent can show you listings that you might not be able to find on your own, can help you get the best deal for your budget, and can explain any part of the journey that might seem a little confusing to you.

89% of all buyers purchased their home through an agent in 2020, but how do you go about picking the right one for you?

Here are some questions you can ask an agent you might hire:

How long have you been working as a real estate agent?
- Agents might have higher transactions than others – not that a lower transaction number should deter you. Understand their process of closing a deal!
Do you specialize as a buyer’s or seller’s agent?
- You want to be sure you hire the agent that fits your needs. A buyer’s agent will help you search for a home; a seller’s agent will sell your home.
What is your work schedule?
- Does this agent work full time in the field? When are they available to answer a phone call, text, or email? Are they going on vacation any time soon?
What markets do you target?
- If you have an area in mind where you’d like to live, it would be good to know whether or not the agent is well-versed in that location.

Purchasing and/or selling a home is exciting – and possibly stressful, if you don’t have the right real estate agent to guide you. Follow your intuition!

For more real estate tips, check out Alliance Title’s Blog.

Real Estate Tip of the Week: Financial Planning

Posted on July 27, 2020 by Alisia Leyva

As a guru of the real estate world, clients will look to you for help and advice when it comes to financing a home.

While you aren’t a financial advisor, you can certainly guide them through the home buying process, and showcase different options that are available to them. You might even be able to refer them to a lender or brokerage.

Here are some of the things you can do to help:

Ask Questions

You’ll want to get a good idea of where your clients want to be in the future. Getting to know why they want to purchase a home, the type of home they’re looking for, and what they’ve done financially to prepare for this next step can be beneficial in your guidance.

Here are some questions you can ask:

What areas have you looked at to purchase a home?
- Different locations can mean different options for loans.
How long do you see yourself staying in this home?
- Depending on how long they see themselves living there, can greatly affect the type of loan they choose. A 15-year mortgage might make more sense than a 30-year mortgage.

Preparation

After you get a better idea of where your clients stand, you’ll want to connect them with a lender or mortgage broker.

Let them know they’ll need to prepare documents ahead of a meeting with a lender:

Clear idea of how much money they can put down for the down payment
No surprises on any existing debt – the more upfront they are, the better
Most recent pay stub
W-2s from the past two years
Mortgage statements for any other properties they own

Once your client has decided to go with a specific lender, it’ll be the lender’s duty to guide your clients financially.

Want more real estate tips and guides? Stop by Alliance Title’s Blog here.

Employee Spotlight – Tiffini Woolley

Posted on July 13, 2020 by Alisia Leyva — 4 Comments ↓

Let’s give a round of applause for our newest employee spotlight, Tiffini Woolley!

Tiffini is an Escrow Officer for our Emmett, Idaho office. Tiffini is responsible for open orders, to funding and recording, and everything in between. Having been with us for the past two years, Tiffini is a wonderful asset to have on our team and on your transaction! For the past two years, Tiffini has enjoyed how much she’s learned and the relationships she’s had the opportunity to create with customers and clients.

When she thinks of someone she admires, she thinks of Emmett’s Vice President and General Manager, Marilyn Knighton. Tiffini explains, “I admire Marilyn for her wealth of knowledge in this industry and her dedication and work ethic that is always above and beyond. To learn from her has been a true blessing.”

Of the Alliance Core Values, “Integrity” is Tiffini’s favorite. She explains, “This core value is such a driving factor not only in my work life, but in my personal life as well. Honesty, accountability, reliability, and respect are the driving attributes to integrity, and I believe that with those come unconditional trust that generates genuine and consistent relationships inside and outside of work.”

When she’s not working in the office, Tiffini loves to adventure in the outdoors with family – whether that’s swimming, fishing, riding dirt bikes, paddle boarding, camping, gardening, or bike riding.

Tiffini’s favorite quote, “What you get by achieving your goals is not as important as what you become by achieving your goals,” is her daily mantra. She illustrates further, “Because achievement, even without an award, drives self-growth. I believe that self-growth is very important in making life-changing steps to a positive and successful life.”

Now that you’ve gotten to know Tiffini a little more, give a shout out to Alliance Title’s Emmett branch and write them in on your next transaction! Tiffini looks forward to helping make your home closing a simple and smooth experience.

Tiffini Woolley – Escrow Officer for Alliance Title’s Emmett Branch
1312 S Washington Ave., Ste. F, 84617
208.365.4486
tiffini.woolley@alliancetitle.com

Alliance Title COVID 19 Signing Procedures

Posted on March 25, 2020 by Alisia Leyva

*update 6.7.2021*

We remain committed to providing a consistent level of service while supporting the health and safety of our customers and employees.

For our clients:

If you answer “yes” to any of the 2 questions below, then the signing appointment will need to be postponed until appropriate quarantine time frames have been met, or another means of signing is established.

Have you or household family members had close contact with or cared for someone diagnosed with COVID-19 within the last 14 days?
Have you or household family members experienced any cold or flu-like symptoms in the last 14 days (fever, cough, sore throat, respiratory illness, difficulty breathing)?

If you answer “no” to both questions, then we can proceed with a signing appointment, either in office or via other means, as you prefer.

Signing appointment procedure:

PER CDC GUIDELINES, we ask that you please wear a mask if you have NOT been fully vaccinated.

Prior to the signing, the closing area is sanitized and prepared for your appointment.

*If you do not feel comfortable with an in-branch signing, please notify us as soon as possible and we will be happy to arrange other options outlined below. The average cost for a mobile notary is $125.00.

Other Potential Options for Signing Appointments:

If you answer “no” to all questions related to COVID-19 listed above and are in a position to proceed with a signing appointment but are not comfortable coming into our branch to sign, please reach out to the branch to discuss other potential signing options. Please note: options will vary based on location.

Remote Online Notary (RON)

We are able to offer Remote Online Notary for certain types of transactions. Inquire with your branch to see if using a Remote Online Notary is an option available for your signing.

Mobile Notary

Please talk with your escrow officer to check availability and options for mobile notaries in your area.

We value your business and endeavor to provide exceptional customer service. During this time we will be balancing service with efficiency and limited contact. We appreciate your grace as we navigate through this difficult time. Thank you for placing your trust in us.

____________________________________________________________________________________________

*update 7.21.2020*
Ada County has been moved back to Phase 3 due to COVID-19. Our signing procedures are current and listed below.

We remain committed to providing a consistent level of service while supporting the health and safety of our customers and employees.

For our clients:

If you answer “yes” to any of the 3 questions below, then the signing appointment will need to be postponed until appropriate quarantine timeframes have been met, or another means of signing is established.

Have you or household family members returned from international travel within the last 14 days or from an area identified as a “hot spot” within the USA? Check out the hot spots here.
Have you or household family members had close contact with or cared for someone diagnosed with COVID-19 within the last 14 days?
Have you or household family members experienced any cold or flu-like symptoms in the last 14 days (fever, cough, sore throat, respiratory illness, difficulty breathing)?

If you answer “no” to all 3 questions, then we can proceed with a signing appointment. To comply with safety recommendations, along with any state requirements relating to the COVID-19 virus pandemic, we must enforce social distancing policies for all signing appointments, until further notice.

In-Branch Signing Procedures (by appointment only):

Please take a moment to review our COVID-19 ‘by appointment only’ In-Branch Signing Procedures, which will allow us to continue to provide closings in a safe manner for our staff and clients while being in compliance with current social distancing requirements.

Preparing for your appointment:

Bring a photocopy or email photo of the front and back of your identification card
A new pen will be provided for you.
Have a cell phone with you and make sure your Escrow Officer knows the number.
Only those individuals required to sign documents will be allowed at the appointment.

Signing-appointment procedure:

When you arrive, remain in your vehicle and call us to check in. The check in phone number will be provided prior to arrival.
When your signing area is sanitized and available, we will call or text you and meet you at the door to verify your identity

You will be directed to a signing area where you will find the following:
Documents to be signed,
Flash drive/envelope containing copies of documents for your records,
An unused pen.

Someone from our Escrow staff will be available to answer questions about the documents while maintaining CDC-recommended social distancing procedures.