On June 3, 2017, VLTA welcomed a brand new Board of Directors.
In my capacity as Executive Director, I often serve as a sort of switchboard for industry-related questions. Let’s explore some of the most frequently asked questions from this summer.
I hope that you enjoy this Issue of the VLTA Examiner with the focus on Cyber Security in the Title Industry. The line-up of articles includes: an article by Melissa Ellis on The Importance of Cybersecurity for Small Businesses; an article by Eugene McCullough entitled Whatcha Gonna Do When A Data Breach Happens to You?; an article by Eric Nesheim as Part II: A Visit From the FBI from our Tales From The Table Column.
The PAC Committee is very excited to announce we had great fundraising events at the Annual Convention this year. We broke all records by having 55 contributors contribute $4,415.00 to the PAC!
Dear Readers: Someone, somewhere, must think I am slipping. Losing my marbles. Past my prime. Make up your own phrase. They sent me to title examination class! For day after insufferable day after excruciatingly painfully repetitious day. Not that your author, in their own humble opinion, thinks title exam training is a bad thing. It is a great thing . . . for other people. Especially new people. Especially that guy I saw in, oh, you might know him, never mind.
Although the media headlines often highlight major data breaches of large corporations and government agencies, the majority of businesses being hacked are small businesses. Why is this the case? Most small businesses do not have layers of security in place to protect them so attackers consider them low hanging fruit. According to Verizon’s 2017 Data Breach Investigations Report, 61% of data breaches in 2016 occurred in small businesses. As many of you are aware, the title industry is in the attacker’s direct line of fire. The good news is that effective IT security is not beyond reach. Here are a few cybersecurity tips that can benefit your business.
This is a follow-up to the piece I wrote last summer about the email scam in which the scammer tries to steal from the title company escrow account by posing as a home purchaser whose deal falls through. As a reminder, the scam works like this: The title agent receives what purports to be a sales contract and agrees to receive the earnest money deposit.
As the owner of Advantage Settlement, Inc. in Falls Church, Virginia, I have served the Virginia, Maryland, and Washington DC area since 2001, and have always had a diverse clientele. I have grown my business by learning, understanding, and respecting the needs of different cultures. I’ll share with you some differences you will face when doing business with multicultural consumers, as well as a couple of procedural considerations to keep in mind when insuring titles and conducting settlements.
Those of you who have worked in the record room have undoubtedly come across some pretty strange documents. We'd love to hear from you! Check out this month's Recorded Treasure.
In my job, I have the privilege of speaking with title and settlement agents from across the nation. At some point during our conversations, those agents who have just been certified as compliant with ALTA’s Best Practices will usually voice something similar to the following: