Keesler Federal Credit Union’s Post

You’re number 2 running a commercial underwriting department, when really you are number 1...! 🥇 Sorry, it’s a touchy subject isn’t it. But I had to say it so bluntly to get your attention. The fact you’re basically propping up the P&C Underwriting department says it all. Constantly coming up with ideas to contribute to the P&L. And all that networking with brokers. Building solid relationships throughout the UK has helped to grow the book of business. You’ve got a proven track record. So why haven’t you taken that next step yet? I mean, it’s not as if you haven’t been asking for it. Or working your a** off to get it. But I have some good news. You can have that next step. But not where you are now. It’s with an MGA with serious appetite for growth. Where you’ll work in the city two days a week. And have full P&L responsibility with plenty of autonomy. Free rein to build relationships with brokers throughout the country. Making sure they’re using this MGA for their Property & Casualty business. And that’s really what you can get your teeth sunk into. Because there are other ‘Heads of’ within the retail side of the business that deal with other areas. So you can just focus on what you do best. Send us a message, whatever CV you have. anna@als-recruitment.com or give me a call on 07825550509. P.S- I'm pretty sure there is always that inner child that pops in your head when someone says your first or second in something.....

One of my title agent friends recently shared that he had outsourced most, if not all, of his #titleproduction to his underwriter, which is uncommon in New Jersey. I was surprised because I know his title agency focuses on complex commercial transactions and because I know him to be a more traditional and conservative title agent. Although it may take some time for us to get comfortable with ceding control over our agency's title production, I've spent some time thinking about the pros and cons of outsourcing title production to the underwriters. PROS: - Examination and production becomes a COG, rather than an overhead cost. Especially during the down market of the past couple of years, this can make a big difference in profitability. - Product is backed by underwriter, mitigating the agent's risk. - There have been times when one of my readers has gone on vacation, or left the company, leaving me with a lack of capacity. Having a solution for these types of situations can help alleviate overwhelming the team. CONS: - I've noticed that a lot of the commitments prepared by underwriters (we rely on them in Pennsylvania) have a lot of redundant or extraneous requirements/exceptions. It's clear that, since these commitments are prepared by underwriters, they often feel the need to include more to mitigate their own risk. On my end - we end up spending the first 10 minutes omitting all the junk items on the commitment. - Lack of control over quality, turn times, and "the way we like things done". - No face behind the product - we frequently have questions, and it is helpful to know who read the file to ask them clarifying questions. This interaction is much harder when there is no direct channel between the reader and the title officer. I would love to hear the thoughts of any NJ title agents who use underwriter production or have tried it.

#Careers_in_Real_Estate If you’re looking for a career in real estate, you may want to consider any of the above six areas of the industry. #Analyst – Performing financial analysis and valuation of properties #Appraiser – Valuing properties #Agent – a sales agent or “realtor” #Building Inspector – Someone who examines buildings and works with appraisers #Commercial Broker – An agent who sells commercial properties #Director_of_Real_Estate – A corporate job #Home_Inspector – Someone hired to assess the quality of a home for a seller or purchaser #Loan_Underwriter – A person who analyzes the creditworthiness of a borrower #Mortgage_Specialist / Underwriter – A person who approves mortgage applications #Real_Estate Attorney – A lawyer who specializes in real estate transactions #home #property #forsale #forrent #realestateforsale #newhome #dreamhome #househunting #apartmenthunting #justsold #homesforsale #buyerwishlist #realestatebuyers #virtualtour #relocation #findahome #realestate #realtor #realestateagent #realtorlife #investment #interiordesign #architecture #broker #realestateinvestor #FSBO

If you need to hire an insurance underwriter, csr, claims person, account exec, etc. why would enlist the services of a recruiter who has never worked in the insurance industry? In my case I worked in the insurance industry for 15 years during which time I marketed, remarketed, sold and serviced all forms of insurance. If you need to hire a FHA DE Underwriter with their own CHUMS number, a Conventional Underwriter, a top flight Processor, Post Closser, etc. why would you enlist the services of a recruiter who never orignated a loan or has no idea what the positions above do? I worked in the mortgage industry for 20 years during which time I was a Loan Officer, Wholesale Account Executive, Processor, Post Closer, Collections Officer, and Bulk Closed Loan Shipper. During my pre-recruiting career I also originated Commercial Real Estate Loans, Commercial Loans and Merchant Cash Advance Loans. The choice you have could not be more clear. You can either use any recruiter who will charge you an arm and a leg as the saying goes but lacks the necessary experience in your industry or you can retain my services as I have experience in many more verticles than I have listed. I could go on and on with this. The point is so many need to hire yet you rely on unqualified people to assist you in that endeavor.

Here is something that has not changed in the 10 years I have been underwriting. You have to deliver consistent results. If you deliver consistent results, you are going to do well. If you respond to one email in three minutes and another in three days, I would argue it is actually worse than trying to respond to all emails within an hour. As an underwriter, I know that my agents come to expect a certain service level from me. That might be better or worse than someone else's (I hope better :-)), but I hope they know I am relatively consistent at getting back quickly. When that client calls and says they are coming by in a few hours, I would imagine that you, as the agent, think about who you know will get back to you in that time. That one underwriter who sometimes takes three minutes and sometimes takes three days might not be your first call because you don't know. I would imagine you are more likely to reach out to someone who is consistent, even if the one hour turnaround is slower than the possibility of a three minute turnaround. One is a chance, and one is an expectation. If I could offer one piece of advice to a new underwriter, it would be to be consistent. Offer a consistent product in a consistent timeframe with a consistent approach to gathering information and making decisions. Every account will be different, but that consistency will help your agent know how to work with you.

✨ It's time for 𝓓𝓮𝓷𝓷𝓮𝓽𝓽𝓮’𝓼 𝓒𝓸𝓶𝓶𝓮𝓻𝓬𝓲𝓪𝓵 𝓒𝓸𝓻𝓷𝓮𝓻! A series about commercial escrow and title in the real estate world for both the buyer and seller. Featuring Ticor Title Spokane's Dennette Hammons, AVP/Commercial Escrow Manager/LPO. Today, we are digging into FAQ #2! 🔍 FAQ #2: 𝗖𝗮𝗻 𝗲𝘀𝗰𝗿𝗼𝘄 𝗽𝗿𝗲𝗽𝗮𝗿𝗲 𝗫, 𝗬, 𝗼𝗿 𝗭 𝗱𝗼𝗰𝘂𝗺𝗲𝗻𝘁𝘀? Often, I am asked if I can prepare a resolution on behalf of a buyer or seller entity, an addendum to the PSA, an assignment, etc. The short answer is no. An Escrow Closer that is also a Limited Practice Officer (LPO), a license issued by the WSBA, can select, prepare and complete WSBA approved documents for use in closing a loan, extension of credit, sale, or other transfer of real or personal property. While the approved list of documents is fairly comprehensive in order to “close” a real or personal property transaction (see https://lnkd.in/d4gMeJ8s ), any other legal document outside of these forms will need to be prepared by the broker, buyer or seller parties, or their attorney and/or representatives. It is important to note that there are instances in which escrow will request certain documents required by underwriting in order to be able to offer title insurance (e.g., affidavits regarding identity, status of commercial property, probate, lack of entity documentation, waivers, etc.) Depending on the requirements from Underwriting, in certain circumstances, the Title Company would provide the document(s) to satisfy an underwriting requirement through escrow. If applicable, this would be in addition to any of the required forms, instructions, legal disclosures, statements, etc. used in the closing processes and for following legal procedures. 📲Follow us for more on Dennette's FAQs, informative commercial title and escrow tips, tools, and more! https://lnkd.in/dkkN2Cta #TicorTitleCommercial #TicorTitleSpokane #realtors #commercial #titlecompany #commercialloans #commercialproperty #spokanerealestate

Not sure where to start when hiring a property manager? Start with these top questions to ask then read on for more..... 👉 Ask the property manager about their strategies for minimizing vacancies and finding new tenants quickly. 👉 A thorough tenant screening process is vital for finding reliable tenants who will pay rent on time and take care of your property. 👉 Ensure that the property manager is knowledgeable about insurance requirements and legal compliance pertaining to rental properties. https://bit.ly/4aJMfgR #propertymanangement #militarylandlord Kate Horrell AFC® ChFC® MQFP® RentRisk

Hiring a knowledgeable real estate agent is your best bet to make sure your buying or selling process goes smoothly, but it also doesn't hurt to educate yourself on the way things work! Take a look at some of these terms you should know. Terry Lasky Associate Broker

Am I one of those "conservative underwriters?" If I have to answer Yes or No, then of course Yes. Has anyone ever answered No? Am I more conservative than I was ten years ago, one year ago, or yesterday? Yes. Does anyone answer No? So, what's the point? All of us THINK we are conservative, or at least claim to be publicly. (I recall a stat from high school along the lines of "80% of all drivers think they are better than average.") I would be arrogant and ignorant to claim that I am the most conservative GP, but I am certainly more conservative than some - at least me from years ago! I have been pursuing a #mobilehomepark for almost ten years. Seller had some major issues on their end and decided to sell. I offered a fair price, arguably an aggressive price. I wanted this #mhp. I know it. I have walked it. I am a large player in that market. Was my price conservative? Not really, but it was doable and reasonable and I was confident that I could make the business plan work at X price. I tied it up, woohoo. Then ... due diligence ruins it! Occupancy was lower; collections were worse; road bids were more expensive; the lagoon was quasi-failing; and more! What did I do? Did I just revise my "conservative underwriting?" Nope. Did I do the "honorable thing" and close the deal? No way. I "re-traded" the Seller. I don't enjoy this part. Who does? But, I did not want the deal bad enough to absorb $250k+++ of pain (on a sub $1mm deal!) So, I sent a large request for re-trade and gave it a go. Did it work? Nope. I had to then send a termination notice to get back my EMD, but I still lost thousands of dollars of pursuit costs. It is what it is, and I live to fight another day. Should I have "stretched" to get this deal closed? I don't think so. Sure, I lost out on my acquisition fee, my property management fee, etc. ... but, I'm not in it for the fees. I'm in it to turn around the community and add massive value - for the residents, and yes I get paid if and when that happens. Would you have closed it for the fee? Do you think others would? Do you think this deal will come back around later?