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Examination Model ABA. Owning an Interest in Your Own Title Agency. Providing Better Service to Consumer. Why Own a Title Agency?. Diversify Income Control Transactions Quality Title Products More Convenient Better Customer Service Greater Profits. Must Perform Core Services. - PowerPoint PPT Presentation
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Examination ModelABA
Providing Better Service to Consumer
Owning an Interest in Your Own Title Agency
Confidential - CourthouseDirect.com
Why Own a Title Agency? Diversify Income
Control Transactions
Quality Title Products
More Convenient
Better Customer Service
Greater Profits
Confidential - CourthouseDirect.com
Must Perform Core Services
T itle E vid e n ce E xam ina tion C lo s ing
C o re S e rv ices
Three (3) Ways to Earn Title Premiums
Confidential - CourthouseDirect.com
ABA Business Models
Evidence Model
Escrow Model
Full Services Model
Confidential - CourthouseDirect.com
Typical ABA Models Examiner Model - ABA employs Examiners to issue Title
Evidence and Title Examinations and issues policies but outsources Closings.
Escrow Model - ABA employees Escrow Officers to handle Escrow and Closings and issues policies but outsources Title Evidence and Examinations.
Full Service Model - ABA employs Examiners and Escrow Officers and issues Title Evidence and Title Examinations and performs escrow and Closings and issues Policies.
Confidential - CourthouseDirect.com
Why Examination Model?
Better for Consumers More Control Less Risk Low Fixed Costs Fewer Regulatory Issues Choose Escrow Service Highly Profitable
Confidential - CourthouseDirect.com
Can I make money selling Title Insurance?
YES, If you….
Have Quality Transactions
Control Costs
Hire Quality People
Know How to Run a Business
Confidential - CourthouseDirect.com
Getting Started
Team with Title Industry Professionals
Discuss Objectives with Underwriters
Obtain Agency License from Texas Department of Insurance (TDI)
Confidential - CourthouseDirect.com
Questions & Answers
ABAs are fairly common in other parts of the country. Why are there not more ABAs in Texas?
I realize there are different business models for ABAs, which is the best model for me? And Why?
What disclosures are required by RESPA when a Producer owns an interest in an ABA?
Confidential - CourthouseDirect.com
Win/Win Business ArrangementConsumer Wins Quality Evidence and Examinations delivered timely to a convenient closing office near them. Producer Wins More control over Closing process with quality Evidence and Exams delivered to choice of Closing offices. ABA Manager Wins Contributes skill and experience to set up and operate successful ABAs and earn a management fee plus a percentage of profits Confidential – CourthouseDirect.com 4-15-2010
Confidential - CourthouseDirect.com
Abstracters and Examiners Win
Contribute skill and experience to deliver a quality Evidence and Examination product for fair compensation
Escrow Officer Wins
Typically earns large portion of Premium plus 100% of Escrow Fee
Title Plant Wins
Earns money on each closed transaction plus Document charge (with minimal monthly fee)
Underwriters Wins
Underwriting known source of business with more control over risks and quality of Title Evidence and Examination service
Confidential - CourthouseDirect.com
Examination ModelABA
Providing Better Service to Consumer
Owning an Interest in Your Own Title Agency
Confidential - CourthouseDirect.com