All posts tagged: title agent

New Licensed Title Agent, Jolene Martyn

Land Title of America, Inc. is proud to announce that team member, Jolene Martyn, has become a licensed title agent.  In this capacity, she joins ranks with Stephen Collins, Lisa Byers, and Karen Richmond at Land Title to write title insurance policies with their underwriters:   Fidelity National Title, Westcor Land Title, First American Title, and AmTrust Title.  Thus Jolene expands service to customers, and enhances her own professional stature.  Go Jolene! 

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“Jolene Martyn comes from a place where hard work means something, and she’s headed to where experience pays off in lasting value,” says Land Title owner Stephen Collins, “and benefitting the customers the whole way.” 

The best part of home ownership is not paying rent into someone else’s pocket, according to Jolene.  However, the entire closing process, from signing the contract to getting the deed, can be a bit mysterious to many buyers and sellers.  That’s where a good title agent comes in. 

The role of a title agent is to perform accurate closings based on the contract and with the title commitment requirements, and make it look seamless to the customer.  “If you are detail-oriented, like to research, and can solve puzzles, it’s a great job for you,” says Jolene.  She compares her job to a puzzle where you have to put all the pieces together, while actively watching out for fraud (a great reason to use a title company!). 

Does she have a specialty?  Yes she does:  mobile homes and mobile home transfers.  While Jolene is licensed to write title for any type of property, these are her particular specialty niche market.  

With her new professional status, her role as a closer is strengthened, to the deep benefit of her customers.  She now has direct communication with the underwriters.  She can see more information, and has access to more information and tools.  For example, a recent customer needed to sign with a mark (instead of a standard signature), and Jolene was able to directly download the appropriate forms to make that possible.  Thus she can streamline the closing process, making the transaction easier and faster to complete for customers. 

As an insider to the title industry, Jolene’s advice to buyers and sellers is twofold:  1) Do NOT close without a survey, and 2) ALWAYS use a title company, because you have no idea what’s in the chain of title.  And that goes for investors as well as residential customers. 

An area native, Jolene’s first introduction to real estate title started in 2003, and she has been with Land Title since 2017.  She credits her years of experience with helping her pass the licensure test.   The study guide is nearly two inches thick, but her familiarity with the Marketable Records Title Act (MRTA) and riparian rights, as well as numerous other technical topics gave her the qualifying experience to pass the test, and add immeasurable value to every file she touches.  You may contact Jolene Martyn at Land Title at (904) 797-9600 or by email at [email protected].  Go Jolene! 

Land Title of AmericaNew Licensed Title Agent, Jolene Martyn
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Attorney Mistake in Writing Title

Attention Attorneys who represent their clients in a real estate transaction AND write title insurance for them in the same transaction:  I want to talk about CONFLICT OF INTEREST.

How can an attorney objectively write a Title Insurance Policy and represent a client in a real estate closing?  Who does the attorney really represent?  Answer:  The Title Underwriter.*  That attorney has a contractual agreement to represent the title insurance company first—the homeowner’s interest is subordinate.  How is that for proper legal representation of the homeowner?

An attorney who writes title insurance AND represents a client IN THE SAME CLOSING doesn’t really care about the client, and violates the mutual trust of an attorney-client relationship.  

An attorney who writes title insurance and practices law is fine, as long as that person doesn’t represent a client in the same transaction.  A title insurance company owned and operated by an attorney?  No problem—I’ll compete with you all day long.  But if you try to represent a client in the same transaction in which you write the title insurance policy, then I take issue with you—CEASE AND DESIST IMMEDIATELY for the sake of your customers!

Let me tell you a little story about a lady named Sheila.  Her attorney/closing agent never recorded the deed and mortgage.  After paying nearly $70,000 into the loan, Sheila goes to refinance only to find out she doesn’t actually own the house she’s been living in for almost four years.

Problem 1:  The attorney who supposedly represented Shelia has a contractual relationship with the title company who now has a title problem.

Problem 2:  That attorney was suspended for three years.

Problem 3:  The title policy was never issued.

Problem 4: The title company where the attorney/closing agent worked refused to pay for the title error.

Problem 5:  Sheila’s going to have to pay new closing costs to have her deed filed.

How could this have worked differently?  

Sheila could have hired an attorney whose interests were only aligned with hers.  Her attorney could have made sure all documents were properly recorded and a valid title policy issued, insuring her against any title questions.  (But instead Sheila had a selfish attorney who tried to represent her and the underwriter, and when the doggie doo-doo hit the fan, Sheila was left without representation and without insurance.)

Any questions?

This is a true story that happened in Pennsylvania—how many stories don’t we hear about?  In how many cases is the result of dual representation so devastating the homeowner victim can no more afford to fight than they can afford to live in the house they thought they owned?

“This case is a perfect example of why people have to hire their own attorney when dealing with this much money,” said Pennsylvania real estate lawyer, William Mackrides, about Sheila’s situation.

There’s no way this woman’s problem would have gotten this far if her attorney hadn’t also been her title agent.  Sheila’s story shows why you cannot just rely on the attorney who writes your title insurance to also represent you.

Everybody’s human.  Everybody makes mistakes.  The separation of representation—the homebuyer’s attorney and the title company—adds an objective checkpoint so that each party’s interest is fully represented without bias.  

There are a lot of fine attorney/title agents out there, and when they play title agent only, that’s great.  But if you think your attorney/title agent has your best interest in mind first, then you could be $70,000 wrong.

 

* If financing is involved, then the attorney has a contractual obligation to represent the title underwriter first, then the lender, and finally the homeowner.  Thus the homeowner would be third in line for legal representation.

 

Stephen CollinsAttorney Mistake in Writing Title
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