Posted by rodman on 9/24/13 2:06pm
Msg #485793

Virginia title insurance license

Champion Title is now requiring that we acquire this license. Any experience with this?

Reply by JandB on 9/24/13 2:18pm
Msg #485795

Your post is labeled Rodman of FL. Are you in VA? What happened to make you think Champion Title is requiring a title insurance license. I can tell you it won't be worth it unless you do a LOT of business with them.

Reply by JandB on 9/24/13 2:19pm
Msg #485796

Funny, I see my label says JandB of PA. PA is ancient history. I am in VA.

Reply by rodman on 9/24/13 2:37pm
Msg #485802

I have to change my profile. I now reside in VA.
I have done some work for them in the past and they recently sent me an email in regards to the required license. I don't think I am going to spend $575 if they are the only ones requring it, even though they are good to work for.

Reply by Linda_H/FL on 9/24/13 2:38pm
Msg #485803

Both you and JandB will just need to contact Admin

through the "Contact Us" Button at the bottom - I don't think that part can be changed by you changing your profile....

Though I could be wrong - would not be the first time.

Reply by MW/VA on 9/24/13 2:23pm
Msg #485797

See msg. 483667. They sent me an email notification

a couple of weeks ago. I've looked into it extensively, and am not going to get involved with that at this point. I've offered the 2 envelope option for the few occasions when funds are due. I hate to lose their business though, because they were recently my best client.

Reply by NVLSlady/VA on 9/24/13 3:08pm
Msg #485806

Re: See msg. 483667. They sent me an email notification

ditto (Marilyn). I really like working with them but when the email came, I thought "easy come, easy go." Not feasible right now. I'd only do it for fees $175 and up.

I hope they are "listening" to us here and know they will be forfeiting some really good opportunities (and people). I am still trying to see how the demand for title licensed agents will affect their business, as well.

Lots (besides Toni) have to get that exam under our belts!

Reply by ToniK on 9/24/13 2:31pm
Msg #485800

Actually in VA you are supposed to be a licensed Title Agent to do this work. However, its not enforced. Alot of Va title companies I talked with require this. Thats why I went and took the class. Just need to go back and take the exam.

Reply by MW/VA on 9/24/13 5:46pm
Msg #485831

The class & exam are just the beginning. You then have to

get a bond, etc. I understand the entire process costs about $2500, and IMO it DOES NOT
apply to NSA's. IMO there's a big misunderstanding of our role in the process. I spoke with a gal who owns a tc here, and she also advised me not to do it.
Again, IMO, if I have a TPL, then I'm no longer the "impartial third party" that we operate as.
Lots of mixed info around about this.
I can understand it, in a way, because we're not licensed, and they're trying to find a "license" that fits the bill.
I think the whole thing would go away if VA required bonds for notaries like most state do.
Someone needs to lobby Richmond, VA about this.

Reply by NVLSlady/VA on 9/25/13 12:06pm
Msg #485925

'Impartial' Witness

<<"Again, IMO, if I have a TPL, then I'm no longer the "impartial third party" that we operate as.
Lots of mixed info around about this.">>

This is what I've been saying all along. IF we are licensed title agents, we <are entitled> to a portion of the insurance fee. Why on earth would I have a real estate "license" and not get a commission? Referral agents do this all the time. They don't want to sell, go to sales meetings, pay dues or MRIS fees; they retain their license TO GET PAID.

If RESA says I have to have a license, wouldn't we "recommend" consumers to the title co. that would call US to do the signing?

Reply by CopperheadVA on 9/24/13 5:02pm
Msg #485826

I feel that CRESPA is very misunderstood in VA - I think any instructor who is teaching the CRESPA class will tell you it's required for closings in VA because that is how they stay in business. See Msg #469125

Reply by MW/VA on 9/24/13 7:51pm
Msg #485861

Yes & I've decided not to make the investment of time &

money just to be able to collect a ck. for the tc!