Tag Archives: title insurance

Help Wanted

Job Details

Job Details

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Review the title report as presented by the abstractor.  Analyze the report to determine whether it is clear to insure title or whether there are issues to be resolved (i.e. outstanding interest on the chain of title that we need to determine how to convey, determine adequacy of a foreclosure or bankruptcy on the chain of title or look at creditor’s claims on property interest).  Directly work through the resolution of the issues by using independent thinking.  Must meet certain criteria established by Insurance Underwriter.
Title Insurance Issues

Cyber or Data Breach Insurance

Do you have insurance in case the confidential information you keep is breached or in some way hacked?  Here is an article that discusses the need for coverage given the “explosion of access to and transmission of confidential data”  Click Here to read the article.

I asked Greg McDonald of Cloudstar Consulting if he advises his clients to purchase this kind of coverage.  Cloudstar specializes in technology solutions for title companies.  He said “there is a debate over how effective these types of policies are” A couple trends he sees are that this kind of coverage is mostly considered in bigger companies(150 – 300 agents) and they are usually run by boards and not individuals.  What do you think.  Is it time to consider data breach insurance.  Are you confident you have the right procedures in place to prevent cyber attacks?  Will this be part of the Risk Management and Risk Assessment that the CFPB may be asking of title companies?  What do you think?

Title Insurance Issues

Basic Reading

Open
OPEN
Estimated Length: 3 hours
Cost: $55.00 (USD)
Credits: 3
Enrollment Valid For: 12 months

Description

3 Credits.  This course discusses the basic function of a title reader. Another course addressed the function of title searchers in the twenty one county record rooms in the State of New Jersey. The title office or agent will order the necessary searches required by a title application in accordance with the title underwriter’s guidelines.

The course discusses the elements of the search, the preparation of the commitment, and the factors that must be considered to insure the transaction.

Objectives

Upon completion of this course the learner will

  • be able to list the elements of a search
  • be able to prepare a completed commitment
  • be able to identify common defects in title
  • recognize liens and encumbrances associated with titles