FNF Title Brands Remain Largest and Most Profitable in Industry

According to the 2012 edition of Demotech Performance of Title Insurance, released in December 2011, the title industry met with $18.9 million in losses in the third quarter, following two quarters of increasing operating results.

Collectively, the FNF title brands remain the largest and the most profit­able in the industry. As a company, we produced another strong quarter despite the continued difficult real estate market. This achievement can be attributed to our lo­cal employees’ ability to manage challenging market conditions and take advantage of opportunities as they arise. One such opportunity came with the meaningful decline in residential mortgage rates beginning in August.

This decline led to a significant increase in refinance order volumes. To­tal refinance open orders per day in August increased nearly 30% over July, and September totals remained nearly equal with August levels. As a result of the decline in mortgage rates, the quarter’s mix of business favored refinance transactions. Overall, during the quarter our direct op­erations opened 596,000 total orders and closed 378,800 orders.

Our commercial title business was strong again during the third quarter and generated over $99.1 million in revenue, which accounted for more than 26% of total direct title premiums in the quarter compared with 19% in the same quarter of 2010.

As always, we remain committed to managing our business with discipline, providing the best possible customer service, and remaining the financially strongest title insurance provider for our policyholders, clients, and partners.

Fidelity National Title Insurance Company is a member of the Fidelity National Financial family of companies (“FNF”); the leading provider of title insurance through its title insurance underwriters - Fidelity National Title Insurance Company, Chicago Title Insurance Company, Common­wealth Land Title Insurance Company and Alamo Title Insurance. FNF underwriters issue more title insurance policies than any other title com­pany in the United States.

iPhone-based Tracking System Makes Sure Nothing is Ever Lost

There’s a lot out there you can lose… the football in your arms… the ability to kick a simple field goal… an entire season’s worth of... sorry, sorry.

But by far the worst is your phone. Who of us hasn’t misplaced their phone – probably more than once?

Which brings us to Bikn (bee'-kin), an iPhone-based tracking system for your phone and all your other important stuff, available soon.

You’ve got three elements here: an app, an iPhone case with a mind of its own and a bunch of little tags to put on the other things in life you couldn’t stand losing. All these elements come together to make sure nothing is ever lost around the house.

It’s super easy: you’ll download the app and slip your phone into the case. The case sends out a signal even if the phone is dead. Then you’ll attach the tags to other valuable stuff (your lock box key, iPad, the dog, tiny family members, crown jewels you’ve been bequeathed, the list goes on).

If any of it goes missing, the app will tell you the direction and how many feet away it is on a sort of digital treasure map. If the phone itself goes missing, the tags will send out a signal that makes it beep until you find it. Kind of nifty, don’t you think?

Find out more at http://www.bikn.com

Source: UrbanDaddy

Fidelity Phoenix Supports Upcoming Brokers for Kids Dinner

Fidelity is proud to support the upcoming Brokers for Kids Dinner at La Bocca, January 25th. Brokers for Kids is one of the many events of The Scottsdale 20-30 Club, which was founded with the single objective of supporting children's charities.

In continuing efforts toward supporting our community, Fidelity has donated $5000 total to various teams towards their charity for the Olympiad championship during the event and will be presenting a lucky winning team $3000 (from the total) during the dinner to their team charity.

Two Fidelity partners, Brian Ackerman and Chris Karas, are both actively involved in Scottsdale Active 20/30 and also host Niteflite, another of their annual events.

By hosting special events, the Club draws the community together to raise funds for, and to educate our citizens about the financial, medical, and emotional needs of Arizona's children. The Scottsdale Active 20-30 Club members come from all professions and walks of life. It differs from other service organizations in that they not only raise money for children's charities, but also encourage "hands on" interaction with the children they support. This active participation serves to strengthen their relationships with those they serve, maintains motivation, and produces a high degree of personal satisfaction.

Broker for Kids is a year-long contest involving valley commercial real estate teams in a fundraising drive that culminates with the Brokers for Kids annual event. The coveted Broker’s Cup is awarded to the top fundraising team. Teams also compete for the Olympiad Championship during the event in a series of fun physical challenges. Refreshments are served throughout the day, with a live band performing post-Olympiad for a party that continues through the evening.

Brokers for Kids’ charity partner, Boys Hope Girls Hope (BHGH), helps academically capable and motivated children in need to meet their full potential. They help these children succeed by providing value-centered family-like homes, better opportunities and education through college. BHGH profoundly impacts the lives of low-income, at-risk, academically capable and motivated children ages 11 to 18 who come from financially and socially challenged backgrounds. Through residential and community-based programs, BHGH offers the comprehensive services and support systems that nurture the self-confidence, discipline and focus required to test children’s academic limits and allow them to achieve dreams they once thought were out of their reach—including graduating from college.

Panel at Chader Event Share Insights on Leadership and Success

Steve Chader, having built a powerful team at Keller Williams in Arizona, and now having gained national attention as a leader and speaker, brought his business knowledge and leadership talent to a broad local business audience here at the Tempe Center for the Arts. The two day event, “Leading Your Business Through Today’s Market – The Chader Event”, with 450 business owners in attendance, was held at the Tempe Center of the Arts on January 12th and 13th, kicking off 2012 with a variety of respected speakers and leaders.

In a feature event, Ilana Lowery from The Phoenix Business Journal moderated a Panel of Experts including our Senior Vice President, Steve deLaveaga; Short Sale Expert, Jesse Herfel; Attorney Dax Watson; and well known Top Producer Russell Shaw. The panel shared their insights on leadership and service including how they lead their business to astonishing levels of success. Among the questions put to the panel:

1. Each of you is recognized as a leader and successful in business. That can't be accomplished without a strong vision. What is your vision for your business, what do you do to keep it strong and talk about how your leadership impacts your success?

• Herfel: Make a great team; the sum is better than the individual parts.
• Shaw: You have to really want it.
• Watson: Good affiliates.
• deLaveaga: Good service is the expectation so we can’t say that’s what sets us apart; we are stakeholders in your business. It’s never the people that you fire that hurt you, it’s the people that you keep. Never settle and the people around you won’t settle.

2. We have talked about the difference between having a job selling real estate and leading a business and/or professional practice. Give us an example of how you have done that and what was required in order to be successful.

• Watson: Culture is created by the leader in the company; like attracts like.
• deLaveaga: Do the right thing every day – FNT experienced a 734% increase in revenue because we have unapologetically and without malice changed the culture and do not tolerate any divergence from it. Don’t become a silo in your business.

3. This is a two part question. In leading your business you have had to adapt your strategy in order to be successful; a) Please tell us the most important things to you did to get where you are today, and b) Given the shift in the current market what is your strategy to take your business to the next level this year?

• Herfel: Make the decision to change your mindset and have the right people around you.
• Shaw: Start to listen and make an IMPACT.
• Watson: Treat clients how you want to be treated; create deeper relationships. Be able to deliver what you are selling; deliver results.
• deLaveaga: Create a culture of success and demand accountability. Our focus is helping Realtors access inventory in non-traditional ways through leveraging our relationships within the banking industry.

4. What do you do to create an Environment of Success in your business?

• Herfel: You have to earn it; have a great team and stay educated. Who you have in your environment is key.
• Shaw: A key skill you can’t delegate is lead generation – you must see yourself as already successful and stop looking UP at agents and start looking ACROSS.
• Watson: Spend 5 minutes a day connecting with people; listen to them and hear what they like and connect with them on that level.
• deLaveaga: Sales executive vs. business owner – it’s the ship builder vs. the ship captain mentality doing vs. mentoring- it’s a constant process.

5. What would you say are the biggest opportunities in this market and how would you take advantage of them?

• Herfel: Short sales will take over the market – they will also focus on creating their own inventory through flipping.
• Shaw: Listing based business.
• Chader: Sharing inventory with your agent relationships- utilizing your relationships vs. the MLS to advertise and find properties. Also focus on multiple transactions with the same people vs. a large group that you may only do one with.
• deLaveaga: Growing organically by getting deeper with our current stakeholders.

Wells Fargo Home Mortgage SVP Shares Market Insights

At November’s Crystal Ball event, our esteemed panel shared with us their insights regarding the current market and what their respective companies are doing to aid consumers in this challenging time.

JK Huey, Wells Fargo Home Mortgage Senior Vice President REO and Short Sales, is a 29-year veteran of the mortgage industry. Huey cited many positives at Wells Fargo, regarding the current market:

- WFHM maintains a strong performing loan level; about 94% of loans they service are not delinquent.

- Over 700,000 WFHM loan customers have been helped to remain in their homes and not lose them to foreclosure. This has been accomplished with loan modifications, including principal forgiveness and deferral. Huey cited that WFHM has forgiven about $4 billion in home loans, and deferred about $2 billion.

For the other 6%, the delinquent accounts, WFHM continues to make concerted efforts to help home owners keep their homes. Those 150 or more days delinquent are most at risk of liquidation. WFHM works with these homeowners to find an alternative to foreclosure, such as short sale or deed in lieu. Huey cited their Home Preservation events and centers that help educate homeowners about all available options and opportunities to avoid foreclosure.

Unfortunately, there isn’t a viable alternative to foreclosure in every situation. However, some good news for Arizona residents, Arizona is no longer in WFHM top ten states for late stage delinquency and REO. Additionally, WFHM’s REO inventory is down 71% since the first part of 2011. Huey feels strongly it is die in large part to WFHM’s strong commitment and effort to help homeowners keep their homes, as well as more and more being liquidated through short sale as agents become more knowledgeable of and utilize that option for their clients.