The True Meaning of Title Insurance
How It All Started
When I first started in this industry, I had no clue what it was all about. At first, I was in the mailroom, which is quite literally (and stereotypically) the first place you would start to climb the corporate ladder. I’ll never forget the first day I walked into that office, the air was thick with dryness from exhausted laser printers and the smell of stale coffee, and it was like a Hollywood prison scene where everyone looks at you like “fresh meat.” One man stopped me and said, “turn around now, or you’ll never be able to leave.” I chuckled to myself but just took it as a sign of employment stability. Just what I needed as my son was only about 4 months old.
The year was 2003 and all I knew was that I was part of a machine. Logistics, to put it in simple terms and for a company at the time had offices in almost every county in California. It was a different time. I didn’t need to know much about the product we were selling. Fast forward to 2007, I was now managing the customer service team which was a group of 4-5 people who were mostly twice my age. What can I say? I was eager to grow so I could provide for my family.
Learning the Industry
By this time, I had learned that a title company was the source of all knowledge regarding property ownership, property values, use types, property taxes, realtor mailing lists(farming) and so much more. But what about the actual product? I was still not even touching what the consumer was paying for and probably couldn’t explain why a consumer would even need this insurance.
Fast forward again to 2011, at this point I had just come out of a title insurance hiatus for about 4 years, where I was working as a line cook and chef (always my dream as a child) – that story had come to an end. If you want to know more about my time in the kitchen, you’ll have to buy me a drink(wink). Let’s just say, life has its way of steering you in different directions for reasons out of your control. I was at this point, recently divorced and splitting time with my 2 young boys. I found myself needing to get back in the workforce again, so I went back to what I was comfortable with – good old title insurance. With my past relationships and experience, I found myself in a new position right off the bat. I was now an assistant to a title officer, working on a title unit. This is where all the nuts and bolts come together in terms of the product that is title insurance.
What Happens Behind the Scenes
As a part of the title unit, I would receive new closing documents, where I would need to review and create an abstract and prepare recording documents for when it’s time to close – with this, we are looking for mistakes within new deeds and loan documents, possible forgery or really anything that could be a risk. We are communicating with loan processors and escrow officers all day to make sure the lender and buyer are going to walk away from the closing table without any problems post-closing. We go through great lengths to be as certain as possible that the people selling the property are the only parties with ownership interest and they are not leaving behind any liens that could become a buyer’s predicament. It’s a task involving intuition, critical thinking and focus like you can’t imagine.
Why Title Insurance Matters
At the end of the day, if you are getting title insurance(which you should be), prior to issuance of a policy, you have a barrage of title company staff doing all of the things I’ve done over the years(and more), assisting your realtor, lender, escrow officer, attorney, buyer’s in-laws, transaction coordinator etc. - and you as the buyer/borrower with whatever they need along with making sure the transaction is secure for everyone involved. You, in turn, walk away with the product, that is title insurance, and can come back to us whenever applicable, so long as you remain the owner to claim any loss for damages covered under your policy. What I’m trying to say is, title insurance is not just insurance, it’s a whole service and a product in one. We are here for you before, during and after. When you are ready for the full-package-all-inclusive-title-insurance experience, give me a call.
