Illinois Land Title Association Annual Convention Wrapup

That’s it, it’s over, it’s all over.  Another ILTA Annual Convention is in the books.  Each and every year the outstanding staff of the association keeps finding ways to outdo themselves.  Michael and Darlene Lane along with Susan Tolley put in countless hours of work to ensure that the ILTA offers new and exciting venues and programs.  This year’s Convention at the iHotel & Conference Center in Champaign, IL was no exception.

The Convention began with the 4^th Annual “Agent’s Only” dinner.  Though this event is young, it’s hard to imagine a convention without the camaraderie that this dinner inspires.  We find ourselves in a challenging environment, but optimism was heard and a vision for the future is beginning to take shape.  Our industry and indeed our nation is best served with a strong and vibrant agency model and events like the “Agent’s Only” dinner show our memberships commitment to these great businesses. 

The following day began with Committee Meetings and the Board Meeting, after which the convention moved seamlessly into a panel discussion featuring two of our own. Frank Pellegrini, past ILTA President and past ALTA President and Dan Mennenoh, past ILTA President and current Chair of the ALTA Agents and Abstractors Section joined Leslie Wyatt of Softpro for a lively discussion of the regulatory environment, upcoming changes and the new realities of our industry. 

Later in the evening after wonderful PAC and Underwriter Receptions the convention transitioned into the Installation Banquet.  As the crowd thanked now Past President Walt Adams for his thoughtful leadership over the past year, we also congratulated incoming President Paul Presney, Jr and the others installed as leaders.  Always a special event, this Installation Banquet took on even greater significance as the association recognized 40 members in attendance who had completed either their ITP (Illinois Title Professional), IEP (Illinois Escrow Professional) or both.  The celebratory mood lingered long into the evening.

The final day of the convention kicked off with reports from Wisconsin, Missouri and Iowa as well as a report from ALTA and the DFI update.  I believe the highlight of the day was a mortgage fraud report delivered by Brad Geary of Housing and Urban Development and Lyle Evans of the FBI and moderated by Linda Grahovec.  This was a humbling look inside the criminal world of mortgage fraud.  This fraud is still happening and it is getting more complex.  It’s quite clear that we as an industry must remain vigilant against this ever present danger.  After lunch the convention concluded on a high note with a very informative and positive financial markets update from John Chapman of BSC Private Wealth Management.

On a personal note, I have made no secret of the fact that the ILTA Convention is a highlight of my calendar.  For me this event has always been about friendship and fellowship.  Coming together as friends to celebrate our commonalities instead of our differences for a few days is truly special.  I’ve made dozens of wonderful friends at these events and each year I add a few more to the list.  I hope to see many of you at the quarterly committee meetings in October as we begin to build the bridge to next year’s annual convention.   

Small Agents Deserve a BIG Voice

I have been in the business for 13 years, the bulk of those years have been spent within Small Title Agents. In short, Small Agents are different. We don’t have Order Entry Personal, HUD Prep Staff or Policy Officers… Small Agents have a “Donna” who does 13 different jobs before lunch and we have an “Annette” who searches, examines, types, closes, records and remits, while somehow finding the time to pay the office bills. Now I find myself an Owner of a Small Title Agency and I wouldn’t have it any other way.

I surmise that there are three main challenges that, while shared by Large Agents and Underwriters are magnified by our size, the first of which is Time Management. I simply do not have the time to keep up on every legal debate that challenges the industry. My time is spent logging orders, attaining new business, typing commitments, closing loans… You get the picture. Small Agents are lucky if they get to eat lunch, or even dinner for that matter, yet alone find time in their day to keep up on the progress of the latest Senate Bill that could potentially affect their Agency.

The second problem I see is a Lack of Resources. Yes, we do fine. Bills are paid, payroll met, remittances up to date. The real issue is that our small size means our human resources are limited. When you’re a company of 4 or 5 people, a busy day trumps all else. When we have a 7 closing day or a 12 order day… It’s all hands on deck! This lack of additional resources makes it very difficult for us to stay up to date on new regulations. Moreover, the lack of resources makes it difficult for Small Agents to plan for changes within our industry, as it’s harder to see them coming.

Third and perhaps the most unfair, small agents suffer from a Lack of Political Respect. Yes, the big boys underwrite us, but we aren’t them. Not only is our Industry a Cornerstone of our modern society, the role of the small agency is absolutely key to insuring the backbone of our nations economy. Our customers may love us and respect our opinions and we may be very well thought of within our City or County but the fact remains that alone we just don’t have the voice we need.

It is for all these challenges and more that I choose to be a member of the ILTA. Membership is the first step towards alleviating the great burdens of the challenges I believe we face. Membership and Participation within the ILTA allows me to focus whatever time I have on potential regulatory matters that are going to alter my business. ILTA gives me the added Educational resources that I need to keep my staff’s knowledge up to date in this changing environment. And most importantly, ILTA Membership and Participation gives me the Political Respect that I need to make sure that my livelihood and the livelihoods of my employees are being taken into consideration.

Make no mistake; the Title Insurance Industry is under attack from multiple sides. Small Agents, it has never been more important for our voices to be heard. I hope to see you on ILTA membership roles and indeed hear your thoughts on the challenges you face at meetings and conventions to come.

Looking ahead…

At the Illinois Land Title Association we are a month from our first Committee meetings of the year. Our new President Paul Cozzi would like to usher in a new age of mentorship within our industry. I firmly stand behind this initiative as without the mentorship of my first boss to the mentorship of my current ownership, I wouldn’t be were I am today. I can’t imagine a time when I will know all there is to know about Title Insurance, but I sure as heck can pass down the knowledge that I have gained over the years.

We are a hard industry to learn… Somewhere between office work and a skilled trade. I would ask all of my readers to help the younger employee within your company. Help them to gain the knowledge that you were taught. This is the same knowledge that will guide our industry for generations to come.

Have a wonderful Labor Day Weekend.