Happy Thanksgiving
We’re thankful for family, friends and our trusted partners!
And it turns out being thankful is more than a warm-fuzzy feeling. Gratitude provides great health benefits.
Author Archive
Techniques to Gain Credibility and Appreciation from Your Clients
“You must always put your client’s interest above your own.” Watch this video to learn effective sales close techniques to do this effectively and to gain creditability and appreciation from your clients.
inquire before you wire
Amy Gregory has a passion to protect, and when a customer at Paramount Title was defrauded of $130,000, Amy pulled out all the stops to track down the funds and then went above and beyond to ensure no customer of hers would ever fall victim to wire fraud again.
Our story begins with an innocuous email delivered to our homebyer on June 18, which appeared to come from the lender’s office. The email informed our buyer that a representative from Paramount Title would call her to confirm receipt of the funds to close.
Someone called the buyer, but it wasn’t us. A fraudster named “Jimmy” on the other end of the line confirmed wire instructions for a specific bank account, with the account name referencing Paramount Title, and instructed our buyer to send funds in the amount of $130,000.
Our buyer wired the funds.
The following day our buyer checked her account and saw the wire had been returned to her account. She replied to the email thread with the fraudster from the previous day asking if she knew what happened and why the funds were returned.
The fraudster told her the company’s escrow account was under its annual tax audit and that is why her funds were returned. Then he gave our buyer new wiring instructions for another bank account. Our buyer called “Jimmy,” who confirmed the new writing instructions were correct.
Our buyer wired the funds again.
On June 20, our buyer received another email from the fraudster stating there was an issue with the wire. The fraudster asked our buyer to call her bank and request a hold be lifted off the wire. Tragically, our buyer called her bank and obtained the federal reference number for the wire.
The next day a representative from the receiving bank called to say they flagged her wire transfer and they were not going to release the funds yet because it looked suspicious.
That’s when our buyer decided to look up the title company. She then called us, the real Paramount Title, and shared her story. Our office confirmed we don’t employ anybody by the name of “Jimmy” – and this was most definitely a case of wire fraud.
This is where Amy swoops into the picture.
Amy was quick to discuss all options for our buyer to report the crime, including offering to report the issue on her behalf. Amy contacted our US Secret Service agent (YES, we actually have a US Secret Service agent in our rolodex to help us in these “special” circumstances), finally reaching him at 10 o’clock at night to discuss the details of the file.
Amy wanted to see if the agent could provide any assistance on what our buyer could do to get her money back. She conferenced in our buyer, so she could speak directly with the agent. The agent then offered to call the “fraudsters” bank and see how they could help.
On June 22, thanks to Amy’s tireless efforts driven by a passion to protect, the full amount of the wire was returned to our buyer. Our buyer closed on her home two weeks later.
“I spoke with the client shortly after the ordeal was over, and she expressed to me how good it felt that someone had her back through the process,” said Andrea Somers, Compliance Officer for the Florida Agency Network. “Amy truly goes above and beyond in everything that she does.”
But our story doesn’t end there, because Amy went above and beyond to ensure no customer of hers would ever fall victim to wire fraud again.
First, she implemented the website “www.inquirebeforeyouwire.com,” a message we now we blast everywhere we can. When we receive a new contract, our customer is informed of this very real threat. When a customer receives an email from us, they see the Inquire Before You Wire image. It doesn’t matter how small, or big, the transaction is.
She also implemented additional processes where phone calls are made to the contacts on each file, to discuss wire fraud, the current fraud trends being seen in our industry and to lay out exactly how the client will receive wire instructions.
What’s more, Amy decided to go one step further by achieving the Certified Anti-Money Laundering Specialist (CAMS) certification. This achievement demonstrates Amy’s commitment and leadership in protecting our clients and our industry. Amy feels we have a duty to protect and serve the clients.
Amy’s passion to protect pushes our team to uphold the same standard of care, to protect and try to prevent tragic situations involving wire fraud from occurring on our watch again.
ALTA One 2019
Must-See Educational Sessions at ALTA ONE 2019
ALTA ONE is next week, October 22-25th at the Fairmont Hotel in Austin, Texas. It’s an important event bringing together leaders in the title industry to swap new ideas and business practices in educational sessions that really work.
As always, there’s a lot of content! ALTA ONE will cover a range of hot topics, so which sessions are a must-attend?
We enlisted the help of Nathan Marinchick, Director of Research and Educational Programming at Alliant National, to help identify the top 10 education sessions you may want to place on your ALTA ONE dance card next week.
Wednesday, October 23, 2019
9:00 am – 10:00 am OMNI SESSION: THE POWER OF PURPOSE
ALTA’s CEO, Diane Tomb, will share her vision for the coming year and what she sees as the industry’s greatness opportunities and weaknesses. And Entrepreneur, author and “ad man” Roy Spence will help ignite your “epiphany of purpose” during this keynote — Have you found your purpose? What motivates you? What truly drives your company? Discover and fulfill your purpose.
10:30 am – 11:30 am NOTABLE: TEXAS TITLE AGENTS ARE ROCKING WITH RON
In 2018, Texas became the 3rd state to permit remote online notarization. This session will provide a first-hand perspective on implementing RON in your operation. As RON becomes legal in your state you won’t want to miss this opportunity to learn from early adopters.
1:00 pm – 1:30 pm ENGAGEMENT LAB: COMMERCIAL BUSINESS: GETTING YOUR FEET WET WITHOUT SINKING THE BOAT
This lab is designed to demonstrate how your title and closing skills and experience have given you a solid foundation to explore the world of commercial real estate transactions with confidence.
2:00 pm – 3:00 pm NOTABLE: RESPA 411
This session will review the latest cases and enforcement actions on RESPA, affiliated businesses, and marketing services agreements. Come with your questions and discuss the latest trends in RESPA compliance. Experts will address the future of the CFPB and enforcement actions.
3:30 pm – 4:00 pm ENGAGEMENT LAB: BUILDING A FLEXIBLE WORKFORCE
Our industry is facing significant changes from a staffing standpoint. How do you face the challenges of finding new people when you have a retirement or just the everyday turnover? What does flexibility in your workforce look like and how can you successfully adapt your business to recruit and retain new staff through these changes? Join this lab to discuss these challenges and brainstorm solutions.
3:30 pm – 4:00 pm ENGAGEMENT LAB: CULTURE AUDIT WITH ALLIANT NATIONAL’S BOB GRUBB
Culture is central to the health of an organization. However, it is often invisible to those in it, making it difficult to understand what our culture is, and more importantly, what areas require improvement. This is why a culture audit is a good idea. Join this lab to learn how this process works and what to do with the results.
Thursday, October 24, 2019
8:45 am – 10:00 am OMNI SESSION: FROM THE DARK WEB TO WALLSTREET (SPONSORED BY INCENTER TECHNOLOGY)
Wire Fraud keeps us up at night. Listen to two local law enforcement detectives involved in a headline-making case in which money was stolen, then recovered, through a wire fraud incident. Additionally, an Austin based Realtor will discuss how unsuspecting clients can fall victim to wire fraud schemes. And Cybersecurity is top-of-mind for all of us, whether we’re thinking about our professional or personal lives. The director of cybersecurity for Morgan Stanley Wealth Management and Investment Technology, Rachel Wilson, knows exactly the dangers you face. Wilson will share her expertise on how best to protect your business and avoid falling prey to scams and attacks.
10:30 am – 11:30 am NOTABLE: PROPOSED ALTA POLICY FORMS – WHAT’S COVERED, WHAT’S NOT?Title insurance is what we sell, so it’s imperative to know when coverages change. Hear from two ALTA Forms Committee experts about the proposed updates to the 2006 policies. You will be introduced to the new versions, know why changes were made, and what they mean for your business.
12:30 pm – 1:30 pm NOTABLE: THE UNEXPECTED BENEFITS OF DIGITAL CLOSINGS
Often when we talk about digital closings, we talk about what’s in it for the consumer or lender. But you should also focus on the benefits that digital closing can bring to your operation. In this session, learn how digital closing technology can change your workflow and improve efficiency – while also providing the more convenient and prompt closing your consumers and lenders want.
12:30 pm – 1:30 pm NOTABLE: 8 LEGIT WAYS TO MARKET YOUR CULTURE TO HUMANS UNDER 40
If you’re job searching and under the age of 40, you’re probably not going to get excited about a job that offers “competitive benefits” and a “standard work week” with “two weeks of paid vacation.” Sorry, title pros! The new wave of employees has different expectations and you do have to adapt and market your values differently. Take home 8 great ideas to attract talented employees for your business.
Welcome Dustin Tillman, Alliant National’s New North Florida Agency Manager
Dustin’s father, Tim Tillman, grew Alliant National’s footprint in North Florida over the past six years. When Tim decided to answer the call to use his exemplary title and management skills as the Florida Production Manager, an active search began for someone to fill the Agency Manager position in North Florida. Dustin rose to the top as an obvious choice.
Dustin has been with Alliant National for two years. He will work closely with Tim through the transition as he continues to cultivate Alliant National’s footprint
“Dustin has always been diligent, responsible and a hard worker; always with a sense of purpose and he has grown to be a man of great character.”
– Tim Tillman