LoanOfficerSales.com
A Better Future Can Start Today
A Better Future Can Start Today
Title in the sky
Titles come in many forms from the abnormal clear titles to the gloomiest clouded titles. Just like the weather we
would all like to see those clear sunny days. So often we act like a clouded title is a surprise. This is just a poor
job of either not listening to our customers or not asking enough questions. You will have those times that it is a
true mistake, however these are the once in a blue moon times. You are in control of your destiny and need to
take an active role. So many times we leave it up to a third party to get things corrected for us. This has always
puzzled me as to why we would let someone else dictate when and if we will make money. Our business is a fast
paced industry that does not have room for slow pokes, so either get on the train or get off the tracks.
Knowing the ins and outs of your business will allow you to manage your own financial picture and become a
success in your industry. Let’s see how you can help this process move you along to the next step. Make sure
you clarify with your customer that you are the mediator to helping them reach there goal so the more honest and
upfront they can be the better you will be at your job. Make sure that they understand you are not there to be a
judge for things that have happened but are their to guide them to a better future. Some of the most common
things on title we will discuss to give you a better understanding.
The first is judgments; these are usually for the most part paid and have not been removed properly. Your
customer will need to provide you with the reconveyance that the item has been paid in full or a paid in full letter
from the company ,notarized. If the customer does not have these items have them assist you in contacting the
third party to receive a satisfaction or acquire a demand for 0.00. Federal Tax liens are usually big and scary.
This is the one that you sit back and say “Oh My (blank)” Hopefully you did a good enough prep job with your
customer that this is of no surprise. You will need to get a demand or satisfaction on these and they can take a
min of 7 days to receive if not longer so start the process prior to even receiving the title your customer will have
the information. If the Tax lien is an error due to common name, usually the title company can clear by verifying a
social security number and then have your customer sign a same name affidavit in the presence of a notary.
Usually this is sufficient if the lien is under the amount of 5k. If you have Bankruptcy listed on your title your
customer will be required to provide the discharge paperwork. If they do not have this information they or you will
need to contact the bankruptcy archive department set an appointment and go down to receive a copy. While the
cost is minimal it is the idea of how much time it takes from setting an appointment to taking time to go and get, so
start making plans. Ask you customer up front if they have ever file a bankruptcy and start working on collecting
the documents to save time.
While these are a few of the big gun items there are some smaller items that are usually in today’s market these
are things like delinquent property taxes or rubbish liens or possibly the title is in a trust. While these are still
things to overcome they are a little easier to do so. Property taxes are as easing as jumping on line. Remember
we are not waiting for your title to be your crutch, react before you receive your title. Ask your customer for there
parcel number which they can locate on numerous documents then go to the county web site. This will pull up a
Tax roll which will show you if your customer is current or what is due. If your customer is delinquent make sure
you call the county for an amount due since there are penalties that are involved and if your loan will fund and
proceeds will head out after the month ends there could be additional charges. Rubbish liens just require you to
fax over a letter asking for a demand to the local rubbish department, asking for an amount to pay the lien in full,
depending on how busy they are you should be able to receive within 24-48 hours. If your title will be held in a
trust ask your customer to provide you the trust agreement you need the 1st section showing how the trust is to
read, the next section is where it shows if it is revocable and the last section on the trust where the signatures are
notarized. This should be enough for title to insure the policy.
As you get more and more business keep in touch with each of your customer’s titles. When new things appear
learn the ins and outs of clearing and keep a quick reference book for the next time. You will have your loans
speeding through the processing step and be on your way to making money. Also you will be the talk of the town
in your processors eyes, just make sure they work as hard for you as you will for them.
would all like to see those clear sunny days. So often we act like a clouded title is a surprise. This is just a poor
job of either not listening to our customers or not asking enough questions. You will have those times that it is a
true mistake, however these are the once in a blue moon times. You are in control of your destiny and need to
take an active role. So many times we leave it up to a third party to get things corrected for us. This has always
puzzled me as to why we would let someone else dictate when and if we will make money. Our business is a fast
paced industry that does not have room for slow pokes, so either get on the train or get off the tracks.
Knowing the ins and outs of your business will allow you to manage your own financial picture and become a
success in your industry. Let’s see how you can help this process move you along to the next step. Make sure
you clarify with your customer that you are the mediator to helping them reach there goal so the more honest and
upfront they can be the better you will be at your job. Make sure that they understand you are not there to be a
judge for things that have happened but are their to guide them to a better future. Some of the most common
things on title we will discuss to give you a better understanding.
The first is judgments; these are usually for the most part paid and have not been removed properly. Your
customer will need to provide you with the reconveyance that the item has been paid in full or a paid in full letter
from the company ,notarized. If the customer does not have these items have them assist you in contacting the
third party to receive a satisfaction or acquire a demand for 0.00. Federal Tax liens are usually big and scary.
This is the one that you sit back and say “Oh My (blank)” Hopefully you did a good enough prep job with your
customer that this is of no surprise. You will need to get a demand or satisfaction on these and they can take a
min of 7 days to receive if not longer so start the process prior to even receiving the title your customer will have
the information. If the Tax lien is an error due to common name, usually the title company can clear by verifying a
social security number and then have your customer sign a same name affidavit in the presence of a notary.
Usually this is sufficient if the lien is under the amount of 5k. If you have Bankruptcy listed on your title your
customer will be required to provide the discharge paperwork. If they do not have this information they or you will
need to contact the bankruptcy archive department set an appointment and go down to receive a copy. While the
cost is minimal it is the idea of how much time it takes from setting an appointment to taking time to go and get, so
start making plans. Ask you customer up front if they have ever file a bankruptcy and start working on collecting
the documents to save time.
While these are a few of the big gun items there are some smaller items that are usually in today’s market these
are things like delinquent property taxes or rubbish liens or possibly the title is in a trust. While these are still
things to overcome they are a little easier to do so. Property taxes are as easing as jumping on line. Remember
we are not waiting for your title to be your crutch, react before you receive your title. Ask your customer for there
parcel number which they can locate on numerous documents then go to the county web site. This will pull up a
Tax roll which will show you if your customer is current or what is due. If your customer is delinquent make sure
you call the county for an amount due since there are penalties that are involved and if your loan will fund and
proceeds will head out after the month ends there could be additional charges. Rubbish liens just require you to
fax over a letter asking for a demand to the local rubbish department, asking for an amount to pay the lien in full,
depending on how busy they are you should be able to receive within 24-48 hours. If your title will be held in a
trust ask your customer to provide you the trust agreement you need the 1st section showing how the trust is to
read, the next section is where it shows if it is revocable and the last section on the trust where the signatures are
notarized. This should be enough for title to insure the policy.
As you get more and more business keep in touch with each of your customer’s titles. When new things appear
learn the ins and outs of clearing and keep a quick reference book for the next time. You will have your loans
speeding through the processing step and be on your way to making money. Also you will be the talk of the town
in your processors eyes, just make sure they work as hard for you as you will for them.
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