TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/501849
6 | Th e M Rep o RT M // What is a component you feel is missing in the way the industry currently interacts with clients and homeowners? SCHUERMAN // Customer service. It used to be what set you apart, what made you different, or what made your company great. In the title industry today it seems to be all about technology, how you use it and how fast you can get things accomplished with high- tech tools. Time is money as the saying goes; however, the personal touch is lost when you rely solely on automation as you receive an order via some type of technol- ogy platform and you return your completed product either through a general email proxy box, the technology platform, or both. The net result is fast, no doubt; however, you never interact with another human being throughout the entire process unless there is some type of major issue that can- not be resolved without a phone conversation. M // What changes have you seen in your almost 30 years in the title industry in terms of how communication is handled? SCHUERMAN // Those who have been in the title industry a long time know that it has experienced a lot of changes over the years. Twenty-five years ago, all documents were first drafted with an ink pen, then typed in a typewriter with carbon paper. You spoke to each person involved in the transaction personally, including the bank, buyer, Realtor, appraiser, surveyor, and govern- mental entities. Transactions were still closed in a timely manner (usually within 30 days), but those were the days when customer service won the day and that was the way companies stayed in busi- ness. Fast forward to 2015 where we have become so dependent on technology that if it goes down we cannot work. Of course there are many benefits of the automated world. No more paper, one point of data entry to create multiple documents, electronic long-time storage of information, and real time reporting. We save trees, save time, save money, and reduce and/ or eliminate errors. But back to customer service. Because email has taken the place of phone conversations and because meetings were replaced by Webcasts, it is difficult if not impossible to form business relationships where you can get to know other people, including take 5 The Lost Art of Communication: A Refresher for Title, and Non-Title, Pros their preferences on how they like work to be performed and how you can perform work in a transaction that suits them best. What if you picked up the phone to introduce yourself and tried to form some type of relationship with those you work with? M // Why is technology so important for title companies to embrace? SCHUERMAN // Every business, not just those in the title industry, that doesn't embrace our electronic With TILA-ReSpA just around the corner, it's no surprise that mortgage professionals seem consumed with the latest tech offerings. however, Angi Schuerman, business relationship manager at pRISM Title & Closing Services, is quick to point out that the aim of TILA-ReSpA is first and foremost to increase communication between the industry and the homeowner, and a component of this has nothing to do with tech, but old staples of good business. While Schuerman has more than 28 years' title and closing experience, her solid advice isn't just for title pros. "every business, not just those in the title industry, that doesn't embrace our electronic world will eventually go out of business."