So what ever happened to Title Boy?

Good afternoon everyone...sorry for the delay. Well, this is what I've been doing: I have been behind the scenes starting my own law firm. I had formed the LLC (as previously mentioned) back in Mid-November, and I accepted clients just after the layoff. So I've been building up steam - getting website domain registrations, looking into design my business cards, and meeting and corresponding with people in the real estate industry. I will be specializing in consumer law/mortgage fraud, predatory lending and bankruptcy. I do not think that this will alienate too many of my past customers, as they were pretty reputable for the most part. As far as my title attorney hat, I am hanging it up for now (but never say never)... stay tuned.

A Pause

Good afternoon: As of yesterday afternoon, I was just laid off at my job. I am disappointed but not shocked. I will post more later... and I will keep you posted. I have the feeling that I will be one of the lucky ones ... take care for now and I hope that you are having a great weekend and Happy New Year so far.

Happy New Year! Best Wishes for Us All for 2008

First off, I hope that you all had a Merry Christmas and Happy Holidays. This past Thursday 12/27, there were no settlements in or out of our office. Friday, there was one settlement out of the office. Monday, December 31, 2007 - we have one refinance scheduled and possibly 2-3 more will be thrown on the schedule. It is getting a little tight out there boys and girls. I hope that for those who plan on staying in the title business, the next few months bring a better volume. As for me, I have formed a consulting business, a law firm, and am looking into learning one or two foreign languages. I've kept my resume brushed up, but I will still remain a loyal and hard-working (but realistic) employee. Happy New Year!

It's the Holiday Season ...thanks

It's been just over a week since my last posting. Settlement volume is still down, and I am spending most of my time clearing up files that have closed a year or so before I even started at my current company. It is amazing what prior abstractors, and title company employees had missed on files that have closed, and have since gone onto foreclosure. Oh well, people are only human, I guess.

I have many thoughts about the industry, but today I will just be giving thanks today: I do have a job where I don't have to patrol the streets of Baghdad with an M-16, praying that I don't get shot at or get blown up by a IED...and I am thankful for not having to spend Christmas under a tent in the mountains of Afghanistan. I am thankful for those that are fighting "over there," so that I can continue blogging over here. Thank you to those who have served and those who continue to serve. In many ways, you are a stronger person than I am...thanks, Happy Holidays and God Bless

Expanding ...and Contracting

Good morning. While not unique to the title business, the following is a process that I have seen repeat itself time and time again: Step One - Title company with a nice reputation is picking up business, the employees are very good workers and the volume of settlements is high; Step Two - Title company provides candy, chocolate, wine and/or champagne to the clients during the in-house settlements, and times are good & everyone is happy. Step Three - Title company management is very happy with everyone and gives raises and/or bonuses and looks toward expansion by opening another office, or leasing additional space at their location. Step Four - interest rates go up, Title company is unprepared and has to (a) get rid of the candy, etc. (or send out a company-wide message that it is only for clients), (b) start layoffs and/or cutting salary because they overspent during the mortgage "boom" and (c) let the employees know that they will be making difficult decisions over the coming weeks/months. Step five - Real life version of "Title Company Survivor", as the number of closings drop, employees get laid off, gossip and speculation increase, the employees still at the Title Company have to pick up the slack and worry about their own jobs. Or maybe that's just life and it's just me. The mortgage industry is experiencing it now, and it has happened before to the auto and aviation industries, to name a couple. Lesson to title company employees: Life is sometimes tough, you have to roll with it, and keep your resume updated at all times. Lesson to title company management: THINK before you spend. Generosity and expansion is a good thing, but in moderation; otherwise, you create unrealistic expectations of employee entitlement and shock when layoffs occur.

An interesting article on "Kickbacks"

For an interesting posting this month, please visit Title-Opoly and its 12/1 posting entitled,
"Illegal Kickbacks by Title Agents."

My thoughts on Realtors, Loan officers, and Title Companies and the messy business of "sharing the pie" will be upcoming this month...Thanks

Happy December

My Christmas 2007 Holiday Wish List

1. A smooth December month of settlements
2. A nice holiday "thank you" from escrow company management (by the way, I am sure that you could imagine the agony of their decision in closing the office the day after Thanksgiving...but holidays and taking time off is the subject of another blog).
   
3. Loan officers letting me know when their loans are closing at my company -- before the loan document packages arrive in our office
4. Clients, including realtors and loan officers, asking, "what can I do to help close the loan?" or "what can I do to help you clear title?" -- instead of asking "where are we on this?"
5. Borrowers who realize that a title company is NOT a 7-11 or McDonalds, and who think twice before showing up unannounced and without an appointment, wanting a deed drafted or wanting to pick up a proceeds check without bothering to check if the lender's proceeds have even been wired to us

Have I missed any? Have a great weekend...gotta go...I have to answer a voicemail from a loan officer who is working this weekend and needs changes to a HUD...