In some states, you must be a licensed title insurance producer in order to sell title insurance products.
Check out your state's Department of Insurance website for education and licensing requirements.
Most people who sell title insurance have some mortgage, real estate or legal background; however, it isn't a requirement in most instances.
A Title Insurance Rep is a representative for their company who, in turn is licenced to sell title insurance. In a nut shell, a title rep schmoozes their clients. Being a Title Rep is one of the only sales positions that I can think of where the product you are representing has little, or no variance in quality or price. So, the main job of a title rep is to differentiate themselves from their competitors and this is done by building client relationships.
A title rep typically has a sizable expense account, used primarily to help their potenital clients (Realtors and Mortgage Brokers) build their own business (marketing materials are a typical expense provided by a title rep to the client). The client relationship can be fostered by talking over dinner or a group during happy hour. Often a Title Rep will take the whole office to an event just to build that relationship. By establishing relationships with Realtors and often Mortgage Brokers, these clients become friends... And everybody wants to do business with their friends!!
A Title Rep's income is based on how many individual orders come in from loyal clients (after all they have been wining and dining them for the past 6 months). An order is made everytime the client specifies that you (as the title rep) and your company will be providing the Title insurance on their specific purchase or refinance.
Ohhh HOW do you become one.... SORRY... Be very personable and outgoing. Then march yourself right into any title office, dressed very sharply and let them know you have done all the research in the world about being a title rep, and you would like to set up an interview. It's a sales position, so you must ask for the interview, then ask for the job. Be prepared, know the company... Also, ask a Realtor friend to hook you up. Remember, the title reps want to build relationships with the realtors so the the rep owes them lots of favors. Make this one.COMMENT
Please note that RESPA regulates what can be spent as a gift or incentive while entertaining clients when it comes to the real estate, mortgage and title industry. It is typically $25.00 per person PER YEAR. Some of the above answers lead you to believe you can legally wine and dine your clients with no recourse.
Real Estate Settlement Procedures Act (RESPA)
What is RESPA?
The Real Estate Settlement Procedures Act was enacted in 1974 to prohibit unlawful inducements and kickbacks for the referral of residential settlement services that could unnecessarily increase the cost of settlement services to consumers as determined by Congress. RESPA has often been misinterpreted and the regulations are often unintentionally violated by those who provide residential real estate settlement services.
RESPA covers loans secured with a mortgage placed on a one-to-four family residential property. These include most purchase loans, assumptions, refinances, property improvement loans, and equity lines of credit. HUD's Office of RESPA and Interstate Land Sales is responsible for enforcing RESPA.
What is the purpose of RESPA
The Real Estate Settlement Procedures Act is a consumer protection statute for the purpose of:
What is RESPA Section 8?
RESPA has two main areas of emphasis: (i) giving consumers better advance disclosures of settlement (closing) costs, and (ii) eliminating kickbacks or referral fees that unnecessarily increase closing costs. The latter is directed towards the practices of various "real estate settlement service providers."
==Those entities include lenders, title companies, escrow companies, termite inspectors, insurance companies, and, of course, real estate brokers and agents.==
What is a RESPA Section 8 Violation?
Section 8 of RESPA prohibits a person from giving or accepting anything of value in exchange for the referral of settlement service business. It also prohibits a person from giving or accepting any part of a charge for services that are not performed!
I am a Title Insurance Agent in Florida. I earn $46,000 per year. I have 2 years experience and work for a small company.
A claims representative or claims adjuster fits this description.
The title of the Queens Representative for Queensland is The Governor
Generally speaking, a title insurance producer is the same as a title insurance agent.
First American Title Insurance Company Fidelity National Financial Stewart Title Insurance Guaranty Old Republic Title Insurance Company North American Title Insurance Company Chicago Title Insurance Company
The title of the Queen's representative to BC is Lieutenant Governor of BC.
Their title would be 'Representative', such as 'Representative Smith'.
Title examiners are typically employed by title insurance companies
The term title insurance means insurance that covers the loss of an interest in a property due to legal defects and that is required if the property is under mortgage. Most title insurance is lender's title insurance.
If you are looking for insurance for your house then yes, normally an insurance broker or representative would have to come out to your house and analyze it.
No it does not. Lenders Title insurance is a whole other form of coverage
You can get title insurance quotes from by doing a search on google or other search engines for title insurance and visiting one of the websites that offer title insurance quotes. There are some companies that will give you multiple title insurance quotes from more than one company by filling out just one form, and there are other companies that offer you one quote from their company. It is a good idea to shop around for title insurance companies and this is a great way to find and compare title companies and title insurance costs.
Title insurance rates vary depending on if the transaction is a purchase or a refinance
who pays title insurance when selling a home
One could find a title insurance calculator in many different places. Some of the places in which one can find a title insurance calculator is from an insurance place like Republic Title.
You will first need a college degree in business and secondly you will need experience within the industry related to the type of insurance your are interested in. You will need to gain experience in title work of some kind and even then will not automatically become an underwriter but may become an assistance underwriter to gain particular experience.
If title insurance is not purchased at closing, then it can be purchased later. Generally a title insurance policy can be issued within 14 days of the closing.
As of 2011 the largest title insurance company by premium volume in the United States is First American Title Insurance Company.
All of the title insurance underwriter as well as many many title agencies have websites that can direct you to a local agency in your state/county/community. Simply keyword into your web browser: title insurance search, title insurance, or title insurance companies. Many title insurance underwriters and agencies will pop up. A title search or Report on Title is a search and compilation of filed public records. A title insurance POLICY insures against acts & deeds of previous owners up until the time you take title/deed to the property.
Title Insurance in Texas is highly regulated. To find the Rules and Regulations, you can access the Basic Manual of Texas Title Insurance at www.tlta.com/publications/basicmanual - You may also find more information at the Texas Department of Insurance website at www.tdi.state.tx.us (Select "Title" from the menu) It is much easier to become a "fee office" than a "title agent". A fee office is an attorney that has a fee agreement with an existing title company. For more information, contact the major title insurance underwriters in Texas. They can be found at the Texas Land Title Association (TLTA) website under Membership Directory-Underwriters.
Title insurance is a specialized type of insurance that is not generally sold by insurance agents. It is usually provided by an attorney and underwritten by a title insurance company who specializes in this type of insurance. The title insurance company relies on statements and work done by the attorney when he does the title search and he has some liability for his work. You can't just decide that you want a title insurance policy anytime. It is usually done when you purchase a piece of property. I suppose that if you wanted to pay for a new title search you may be able to buy a policy at a time other than at closing.
No. Each owner must purchase their own title insurance.
No. Title insurance only covers the person who purchased the policy. You would need to purchase your own title insurance policy.
You obtain title insurance from a licensed title insurance agent; I would not purchase it from a captive agent (that is, from the lender providing my loan, or from the realtor listing/selling the house).