The Mandrien Blog

Thinking About Expanding Your Title Insurance Licensing?

         Foreclosure-gate Plus the Refinancing Boom May Equal Opportunity

 

                                   To be more specific, the resolution of Foreclosure-gate, whenever it does come along, is quite likely to represent a significant boom in the foreclosure – REO space for title agents. The title work needed to complete those transactions will have to come from somewhere, and it’s worthwhile to ask yourself whether your business might benefit from preparing for this eventuality by expanding your title insurance licensing.

               The refinancing boom that we have been witnessing recently is the result of previously unimagined interest rates. They are low, low, low, and the residential refinance market has been reactively responding to interest rate fluctuation and pricing.

               In October of 2008, the interest rate on a 30-year fixed mortgage peaked at 6.33%. As that rate has gone down (and down), the volume of transactions has steadily increased. Consumers, particularly in this tight economy, are highly sensitive to rate fluctuations, and voilà the current refinance boom.

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