Commercial Real Estate Blog by Madison
Author Archives: Eli Young

Title Insurance in the U.S. vs. Abroad

As a British subject, once in a while I find myself in the company of ex-compatriots – old neighbours and friends that might be here in the US on holiday or business. I try hard to control myself from visibly rolling my eyes and taking a deep breath when the discussion invariably turns to my line of business. Blimey! Do I really have to explain what I do for a living? I learned years ago that the concept of an industry specifically dedicated to insuring real estate title was — for the most part — foreign to those blokes on the other side of the pond (as well as in most of the world) until quite recently. Even now, their version of title insurance doesn’t resemble ours in the U.S. Continue reading

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“i” Before “e” Except After “c”…

In a world of shrinking gadgets, cars and incomes, the only thing that seems to be staying large or getting bigger is loan closing packages. Well, maybe for those in the airline manufacturing business, aircrafts are getting bigger but for those of us earning a living doing title insurance; the size of the closing package is the only thing still looking fat and healthy.

That said, despite its size, it has got a whole lot easier over the years to get a real estate closing package from lender, to closing and back to lender again. How so? Technology. Continue reading

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GFE Disclosure: You’ve Worked Hard For The Deal And Earned Your Pay. Now Keep It!

Common sense dictates that it behooves every mortgage broker/lender to educate him or herself regarding all the charges that might show up on the final Settlement Statement. Loan originators and their processors, however, prefer to keep themselves busy getting clients, getting loan underwriter approvals and everything in between. They would rather get one final quote from the title company on which they can rely. The fact that some circumstances might change or the title work is more complicated than expected is of no interest to them. Continue reading

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Title Insurance in 2010: Hardly Business as Usual

It was definitely not anything resembling a normal year.  Although business had been slow for a while already by the end of 2009, some title agents may have thought 2010 would be a good time to redouble their efforts to grab those few deals still left out there.  Think again. Continue reading

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