November, 2007
American Land Title Association Launches Title Industry Consumer Initiative
On September 18, the American Land Title Association (ALTA) launched “The Title Industry Consumer Initiative”, which details the association’s five- point strategy for improving industry oversight and educating and protecting consumers. The initiative was developed in response to the recommendations by the Government Accountability Office (GAO) in a report issued in April 2007.
The Title Industry Consumer Initiative includes a consumer education program, the adoption of “Principles of Fair Conduct”, plans for member education on regulatory compliance and ethical standards, and a plan for working more closely with state and federal regulators to ensure that the title industry is meeting the needs of consumers.
The thrust of ALTA’s Consumer Initiative is to help consumers make informed choices when it comes to title insurance and title-related services. ALTA has developed a consumer Web site, www.homeclosing101.org, which provides an overview of the closing process and explains the purpose of title insurance including the process of the title search and repairing title defects. The site also describes how consumers can shop and compare prices.
Another major component of ALTA’s Consumer Initiative is its newly adopted “Principles of Fair Conduct”, which state what ALTA expects of its members: to engage only in business practices that are lawful and consistent with a high standard of ethical behavior, and to treat consumers in a fair and ethical manner. The Principles also encourage members to provide consumers with the timely and comprehensive information on their policies, services, products, and prices to enable consumers to shop among provides of title-related services.
The following State Land Title Associations have adopted the Principles of Fair Conduct and have agreed to promote them to their memberships:
- Illinois Land Title Association
- Indiana Land Title Association
- Ohio Land Title Association
- Oklahoma Land Title Association
- Virginia Land Title Association
H.B. Wilkinson Title Company is a member of both the Illinois Land Title Association and the American Land Title Association.
Greg Kosin Finishes Term as American Land Title Association President
On Saturday October 13th, Greater Illinois Title President, Greg Kosin finished his one year term serving as ALTA President. With a strong focus on customer service, Kosin helped launch “The Title Industry Consumer Initiative” (see cover story). Greg Kosin has also been a two-time President of the Illinois Land Title Association and has also served as director of the Illinois Association of Mortgage Brokers, the Illinois Mortgage Bankers Association, the Society of Mortgage Professionals, and the Chicago Association of Realtors. Kosin also has an ownership interest in H.B. Wilkinson Title Company. Congratulations to Greg on a great term as ALTA’s President!
H.B. Wilkinson Welcomes Back Lisa Howe
Lisa Howe started at H.B. Wilkinson in January of 2005 and worked up until she gave birth to her daughter in October of 2006. Lisa lives in Roscoe with her husband, Don and has 2 children, Joscelyn – 5 years old and Haylie – 1 year old. She also has a black lab. Lisa took time off after the birth of Haylie to spend time with her family before her five year old started kindergarten. Lisa said that the time off was nice, but that it is great to be back at work. Welcome Back Lisa!
Introducing Rebecca Wise
Rebecca joined H.B. Wilkinson Title Company in July of this year and is working in the Freeport office. Rebecca grew up in Davis, Illinois where she now lives with her new husband, Michael. Rebecca graduated from Highland Community College where she received her Associate of Arts Degree in 2006. She is currently pursuing her Bachelor of Science in Business Administration Degree from Columbia College and will be graduating in December. Rebecca enjoys playing volleyball, scrapbooking, baking, traveling, hanging out with friends, and playing with her niece.
