What's the Difference between an Underwriter and a Title Agency?

We're asked this question quite a bit and thought it would be a good idea to tackle it with you, our subscribers. Let's break it down:

An underwriter is an entity that authorizes and issues authority for its agents to write title insurance policies. The underwriter assumes financial risk and actually insures the property against insurance defects. Title insurance underwriters agree to defend the owner of the title policy in court should ever any undiscovered legal issues arise with the title.

An agent for the underwriter must qualify with the underwriter and meet very strict standards to remain an agent for any particular underwriter.

A title agency, like Title Source, is authorized to issue title policies and prepare documents for those transactions. Title Source representatives do not represent the parties involved in a transaction and cannot give legal advice.

Title Source is one of the largest independent title agencies in the nation. We leverage close relationships with leading title insurers to provide our clients with risk diversification, competitively priced coverage and coordinated underwriting. Title Source is proud to be an authorized agent of the highest rated title insurers in the industry: First American, Fidelity National Title, Chicago Title, Commonwealth, Old Republic Title, Williston Financial Group and Stewart Title.

Quick Response Codes

At Title Source, we love technology.  We use technology as a platform to support the growth of our business and the needs of our clients.  We are also kind of nerdy and love cool gadgets and apps!  So we started adding 'QR codes' to our business cards.  A Quick Response code (QR code) is a specific barcode that is readable by QR barcode readers and camera phones.  The information encoded may be text, a URL or other data.  When the code on our business cards is read, all of the contact information on that card is automatically stored in the phone.  Nifty!  Go on, give it a try.  Scan the code and see!  Let us know what you think.  Are you using QR codes? What readers do you use?  There are a multitude of free apps out there.  Our favorite is Qrafter.  What's yours?

Title Source Donates $2,000 to the Ennis Center for Children

Thank you to everyone who participated in our Facebook marketing campaign!  For every company page ‘like’ that Title Source received in June, we donated $1 to the Ennis Center for Children.  Because of your help, we received 1,000 ‘likes’ from June 1-30^th.   Title Source matched those funds to donate $2,000!    These funds will be used to support Ennis’ annual summer picnic on August 6, 2011. 

Ennis Center for Children has been working with abused and/or neglected children for over 30 years. Their services reach over 2,500 Michigan children and families in crisis. President and Founder, Robert E. Ennis said, “Ennis Center’s most important job is to make sure the hundreds of previously abused or neglected children in our foster care program are safe from harm. But through experience, we know that it’s also important that these children, who have been through so much in their young lives and often deal with issues beyond their years, have opportunities that allow them to just be kids. That’s the goal behind our Annual Summer Picnic, a day of carefree outdoor play that includes food, crafts, games, and prizes for children in our Southeast Michigan foster care programs. This event is not funded by any of our contracts and it’s only possible through the support of the community. Title Source and its employees have stepped up in a tremendous way to not only make sure the Summer Picnic is held, but that it’s better than ever!”

TSI Appraisal to Sponsor ‘Introduction to the Uniform Appraisal Dataset (UAD)’ Webinar on July 14th

TSI Appraisal is sponsoring the upcoming Uniform Appraisal Dataset (UAD) webinar. The webinar, presented by Bradford Technologies,  will begin at 2:00pm EST on July 14^th. The  cost  to register is $49.00.  Robert Murphy, Fannie Mae Collateral Policy Director, will introduce the webinar and Joan Trice, Appraisal Buzz, will moderate. The webinar will teach appraisers about UAD, review its impacts and examine changes to appraisal reporting. Appraisers are encouraged to attend the event to have all their questions about UAD answered.