What's All The Hype With Blockchain?

I had the good fortune to have been asked to moderate a panel at the upcoming American Land Title Association Annual Convention in Scottsdale, Arizona in a couple of weeks. The topic is Blockchain. Like many of you, I had no idea what that is, but I have been learning  a great deal about it. And, I am excited about discussing with my panelists the many implications this technology may have on various industries, particularly real estate and financial services.

The program is set for Friday, October 7th from 10:00 - 11:00am (MT). Here's a link to a brief description of the topic: http://blog.alta.org/2016/09/-whats-all-the-hype-with-blockchain.html.

To learn more about this, please post a comment or question below.

Sixty Two Title Companies Adopt Principles of Fair Conduct

Several months ago, as part of the Title Industry Consumer Initiative, the American Land Title Association (ALTA) announced a set of basic ethical principles in the title industry. These fundamental business practices are nothing new to us. We have been conducting business by these standards for many years and, to date, Prairie Title is among 62 title companies nationwide to adopt the ALTA Principles of Fair Conduct.

All things change, even title insurance

Who says things never change in the title insurance world? Last year the industry introduced brand new forms for our owners and loan policies. The new forms — created by industry experts through the efforts of the American Land Title Association — are recommended for use in all states and have been adopted by virtually all states that require regulatory approval. In those states that have not done so already, regulatory approval is expected soon.

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Author: Frank Pellegrini, President, Prairie Title

TitleTalk Article originally published in November 2007 issue of Metro Chicago Real Estate Magazine.

ALTA Principles of Fair Conduct

The American Land Title Association has been working on developing a set of basic business principles which should govern all companies within the title industry. The result of that work are the "ALTA Principles of Fair Conduct". These principles have been announced very recently with much fanfare and have received great media attention. I have copied and included the final product below.

These principles do not strike any of us here at Prairie Title as something very new. I firmly believe that we have been conducting our business by these precepts for many years now. Nonetheless, it is good to have the fundamentals refreshed for us from time to time. And it is also good to see that the rest of the industry has realized that strong ethics are good for business. Something we have known for twenty five years.

ALTA PRINCIPLES OF FAIR CONDUCT
Preamble
The ALTA Principles of Fair Conduct represent the association’s commitment to promote behavior within the title industry that serves the needs and interests of consumers.

The Principles describe ALTA’s expectation of its Members to adhere to the highest standards of ethical behavior and the laws and regulations governing the business of title insurance.

The "Appropriate Steps to Implement the ALTA Principles" sets out specific actions that Members can take, and suggests what government can do to assist the title industry in this regard.

ALTA encourages all if its Members to pledge to support The Principles, and to incorporate them into their daily business practices.

ALTA pledges to assist its members in implementing The Principals through ongoing training on ethical standards and legal compliance.

ALTA has formed a special Committee for ongoing review of The Principles annually to ensure that they continue to address the needs and interests of the consumer public.

ALTA PRINCIPLES OF FAIR CONDUCT

1. To engage only in business practices that are lawful and consistent with a high standard of ethical behavior.


2. To encourage a culture of compliance within their organizations for federal and state laws that govern the title insurance business and for these Principles.


3. To treat consumers in a fair and ethical manner.


4. To provide consumers with timely and comprehensive information regarding their policies, services, products, and prices so as to enable consumers to shop effectively among providers of title-related services.


5. To encourage and assist consumers to be educated purchasers of title insurance and title-related services.

- Frank Pellegrini, President, Prairie Title

Title industry association hits the century mark

One hundred years ago, members of the national title insurance industry came together to form an association to promote the interests of title insurers and to educate the public about the importance of title insurance. At the same time, Illinois’ title insurers formed their own association — the Illinois Land Title Association (ILTA) — that has since worked on its mission hand-in-hand with the American Land Title Association.

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Author: Frank Pellegrini, President, Prairie Title

TitleTalk Article originally published in October 2007 issue of Metro Chicago Real Estate Magazine.

ALTA Launches Educational Website

The American Land Title Association has launched a new website directed toward consumers. The goal with this new site is to communicate better with homeowners and sellers about title insurance and the closing process as a whole.