First American Title Chicago Metro Taking Flight Newsletter - Fall 2016 by First American Title Chicago Taking Flight Newsletter

TAK I N G F L I G H T

F A L L 2016

A Quarterly Publication for the Chicago Metro Area in this issue

page

From the Top ............................................................... 1-2 Ask the Title Officer .................................................... 2-3 What's New at First American Title ......................... 4-10 The Practice of Marketing ...................................... 11-12 Items of Interest ...................................................... 13-15 Your Point of View ........................................................ 16

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F R O M T H E TO P... A Time for Finishing Strong By: Jim Stucker IL State Sales Manager “Finish strong” – a phrase we commonly hear in sports. It’s the focus of teams as the baseball season winds down to the playoffs, it’s the added push a swimmer makes at the end of a race or the kick a marathon runner makes toward the finish line, even when there doesn’t seem to be any “gas left in the tank." But what does it mean to us in the real estate industry? Although many of the following points seem to be sales related, you will find that all or most of them can be applied to any aspect of your business, whether you are an attorney, a Realtor, a lender or a builder. As the year end draws closer, take time to review your goals and continue to follow through with activities that will get you closer to accomplishing them. Write down your goals and keep them visible. Review your activities and all of the processes and procedures you employ to get to the finish line. You cannot do the same things over and over and expect different results. In other words, if it didn’t work the first time, change the game. Be honest with yourself and if you have bad habits that keep you distracted from your goals, create new habits that keep you focused. An axiom you may want to consider is “Do things differently or do different things”. Clear the clutter. The best results will happen if you do this both mentally and physically. Somehow, tidying up seems to help put things in a clearer perspective. That which doesn’t help you immediately becomes a distraction. If anything comes across your desk or to your attention that is not directly related to the success of your business, find a place to put it until you have the proper time and mindset to address it.

©2016 First American Financial Corporation and/or its affiliates. All rights reserved. | NYSE: FAF | 15135821116 First American Title Insurance Company, and the operating divisions thereof, make no express or implied warranty respecting the information presented and assume no responsibility for errors or omissions. First American, the eagle logo, First American Title, and firstam.com are registered trademarks or trademarks of First American Financial Corporation and/or its affiliates.

Continued...

F R O M T H E TO P... Schedule it. Have you ever noticed that if you don’t put it on the schedule, it often doesn’t get done? There is a large selection of scheduling software available, but some simple tools work as well, whether it is a desk calendar, a day minder, or working in Outlook. Having your day, week or month cataloged will keep you on point and headed in the right direction. If you are working on growing your business, network with your potential business sources. Take the opportunity to understand what they need to succeed so that you fulfill that need and become a valuable business partner. The added bonus is you get to meet new people and make new friends! You should also pair marketing with your networking efforts. Review what has worked for you in the past (or start if you haven’t done so already!). Creating a digital footprint and using social media has become a very effective tool for becoming more visible in your field. As you work toward the goal of finishing the year strong, you must understand that there will never be a day that won’t require dedication, discipline, perseverance, accountability and the opportunity to execute relentlessly. Though it would be nice to change some things in the past, there is something more powerful and valuable you can do now. You can shape your future! In spite of all of the tasks laid out for you, have some fun as you head down the home stretch. The best cure for avoiding burnout is humor and fun. Taking some time to relax, amuse, and be entertained will help you to keep the energy and enthusiasm you need to be good company around your business partners and your family. Time is your most valuable asset right now. Don’t waste it. Sweat the small stuff to make each day count! Keep in mind, everything you do, regardless of size or intent, has bottom-line consequences that move you toward or away from your goals. Finish up the year proud of yourself. Sometimes finishing strong doesn’t mean finishing with a big kick or a burst of energy. It can also mean maintaining a strong pace and gaining advantage because others around you are slowing down. Remember, how you start doesn’t determine the outcome, it’s about how you finish!

ASK THE TITLE OFFICER QU E S T I O N

Why should exceptions be raised in instances where uninsured deeds appear in the chain of title? ANSWER

Fraud is a covered risk under 2(a)(i) of both the Owner’s Policy and Loan Policy. Fraud has become a significant area of loss for First American Title Insurance Company and the title insurance industry. First American Title has implemented search, examination and closing procedures to combat fraud. Many of the fraud claims we encounter have something in common ‐‐ uninsured deeds in the chain of title. Uninsured deeds should always be carefully scrutinized. Unless such an uninsured deed falls within specified exceptions, the validity of the deed must be verified before it is relied upon for title insurance purposes. If the validity of the uninsured deed is unable to be determined based upon these guidelines then it is recommended that the title be vested back to the last insured transfer. The “effect” of the subsequent uninsured deed(s) should be shown as an exception. It is acceptable to vest through an uninsured deed without further verification in any of the following circumstances: 1. I f the deed in question was recorded over five years ago and the examiner is unaware of any evidence of a challenge to the transfer. 2. If the deed is a family transfer from the record owner(s) to his/ her/their family trust or a transfer from a family trust back to the trustors/settlors of the trust.

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3. If the deed or transfer is an interspousal or interfamily transfer where no one is being removed from title or is losing any of their previous interest in the title. (An example of this type of deed would be a deed executed solely for purpose of changing status of the owners from tenants in common to tenancy by the entirety. On the other hand, a deed from one spouse to the other should appear suspicious if the grantor is thereby removed from title, and the deed is not explicit that a final divorce decree authorized such transfer.) 4. If the deed was recorded in conjunction with a final court order determining ownership. (For example, courts order pursuant to a probate, divorce or quiet title action affecting the property.) In all cases, the signature on an uninsured deed must be compared to the signature of the grantor contained on a recorded purchase money mortgage given by the grantor at the time of his or her acquisition. If no purchase money mortgage exists to perform this comparison, other available signatures on other mortgages in the chain of title should be utilized. If the signatures do not match, the validity of the deed must be verified before the issuance of a policy of title insurance.

Here are some factors which should be considered during this process: 1. Is the signature of the grantor genuine? Has it been compared to a reliable signature, such as the Signature on a previous purchase money deed of trust or mortgage? 2. Is the notary public reliable? Online searches can be performed to determine whether or not the notary public is in good standing. 3. Is the property owner occupied? Many forgeries, particularly those that do not involve family members, involve either vacant land or nonâ&#x20AC;?owner occupied property. This is not always the case; therefore whether or not the property is vacant or nonâ&#x20AC;?owner occupied is not determinative of insurability, but it may be a factor.

4. W as consideration paid for the transfer? Again, this is useful information but not determinative. 5. H ow long ago was the deed recorded? Our standard for carefully scrutinizing uninsured deeds includes a five year time period. Generally speaking, the newer the uninsured deed, the more suspicion it deserves.

Above are some of the considerations. But what is an acceptable underwriting standard to clear the issue? In the end, it will frequently be a judgment call. A discussion between the sellerâ&#x20AC;&#x2122;s attorney and the seller is the best approach. If you can contact the grantor, and verify that you are truly dealing with the grantor and not an impostor, most suspicious deeds will either be confirmed to be forgeries or determined to be valid transfers. Either of the following two underwriting requirements are acceptable, providing the identity of the affiant or grantor can be established: 1. A n affidavit from the grantor that the transfer was freely and fairly made with or without consideration. 2. A new deed signed and notarized in front of a First American agent or notary public

Determining the insurability of title following an uninsured deed is not a perfect science. However, a discussion as to who the parties are on uninsured deed and the purpose for which the deed was placed of record. Please consult your Underwriting department for assistance. Working together, we decrease the instance of fraud, reduce claims losses and protect our insured clients from fraud. Fall 2016 | PAGE 3

AT F I R S T A M E R I C A N T I T L E ?

Offices on the Move Our Oak Park office is moving down the street as of November 18th; this new location in the Shaker building is even more convenient for our customers! The new address will be:

1100 Lake Street, Suite 265, Oak Park IL 60301 Our phone and fax will remain the same. From Left to Right: Janie Hunt, Tyler Tosch, Debbie Ozanic and Colletta Ball

W E LC O M E TO T H E

In August 2016, we welcomed back Apryl Christensen to First American Title when she joined the Mobile Closing Unit as an Escrow Closer. She previously worked as an Escrow Closer for 10 years with First American TitleMichigan, before leaving the industry to start up her own advertising agency. We’re grateful she has made a triumphant comeback to the real estate industry and has no intention of leaving again! Apryl is excited to join the First American Title family again and has management aspirations one day. In her spare time, she loves to read and enjoys watching all Chicago sports teams.

We welcome Kaitlin Davis to our First American Title Family. Kaitlin joined the Scheduling/Customer Care Department in late August. She brings 5 years of experience in the customer service field. When not working, Kaitlin enjoys spending time with family & friends. Her hobbies include camping and she likes to color! Kaitlin is excited to be part of the First American Team!

Seannell “Sean” Davis joined the Mobile Closing Unit as an Escrow Assistant in July 2016. Prior to joining MCU, Sean worked with our Escrow Disbursement Team for approximately two years assisting Escrow Closers throughout the Eastern Region in the disbursement of their files. Prior to that, he worked for 7 years in the foreclosure department at a local law firm clearing title. As he gains more experience, Sean hopes to one day become a closer at First American Title. In his free time he enjoys bowling and relaxing with friends and family.

Robyn Hinson joined our Title Indemnity (TI) Department in September 2016. Robyn comes to us with 6 years of title and escrow experience and has a bachelor's degree in human services with a focus on counseling, which comes in handy working in our industry resolving escrow and title matters. Robyn grew up in Warrenville and is happy to be back in the area and enjoys spending time with her family and friends. Robyn fit in seamlessly and is an excellent addition to our First American Title family!

We are pleased to “officially” welcome Ashley Bundy to First American Title’s Warrenville Recording Department after starting as a temp in July 2015. She comes from an accounting and quality assurance background and will be graduating college in 2017. Ashley is a die-hard Bulls and Bears fan! She is her 9 year old son’s biggest supporter and loves writing poetry, singing, cooking and traveling. Ashley NEVER goes a day without laughing.

Raquel Smith started at First American Title as a temporary employee in our Document Processing Unit over a year ago and became a full time employee in September 2016. Raquel has 10 years of customer service experience and does an outstanding job of handling incoming phone calls, emails and integration tasks all while achieving her monthly production numbers for volume and quality. Raquel studied elementary education at Triton College and Northern Illinois University and she loves doing DIY projects, traveling, and spending time with family.

We are pleased to welcome David Eck as a member of the First American Title family. David joins us as CD (Closing Disclosure) Builder in the CDU Department. He was brought on as a temporary employee in April and showed such great effort, efficiency, and reliability that he earned a permanent position in the CDU Department. He’s a big sports enthusiast, both watching and playing, as he was a collegiate athlete for volleyball. David is also currently enrolled in Aurora University’s Adult Degree program in pursuit of a Business Administration and Marketing Degree. We’re very excited to have him as a part of our First American team.

Fall 2016 | PAGE 4

Get your Pink On On October 16th, Team First American, led by Maggie Kumar, was roughly 35 members strong (including employees, family, and friends) who participated in the 5K breast cancer awareness walk held at Cantigny Park in Wheaton. There were a total of 2,777 walkers that helped raise a total of $248,085.00. A huge "thank you" to everyone who participated and generously donated.

From Left to Right: Maggie Kumar, Maria Rosales w/family, Persyvette Morales, Barbara Epps-Jackson, Christina Biring, Nia JnoBaptiste, Mary Glavac, Abigail Tatum w/son, Ron Ogorek w/ spouse, Jenney Bell, Sandra Brewer w/family, David Robles, Catherine Murphy-Gonzalez

AUROR A OPEN HOUSE The Aurora office held an open house on Tuesday, September 13, 2016 at its new location at 2363 Sequoia. Thank you to all who attended and helped to celebrate our new location with us! From Left to Right: Erin Corely, Donna Lindstrom, Cathy Wyatt Smith, Valerie Salzbrun and Kate Rehburg

First American Title at Work Helping Others The DuPage Habitat for Humanity has sold over sixty homes to limited income families with over 150 children and has ambitious plans to substantially increase that number in the next three years. They achieve this not by merely giving a handout, but by offering a hand up through involving the community and the beneficiary families to gain the goal of home ownership. On September 1st, twenty First American employees donned their â&#x20AC;&#x153;away from the officeâ&#x20AC;? work clothes and helped paint and refurbish a Habitat townhouse in Aurora. Once clean T-shirts and jeans soon turned into multi-colored outfits, but most of the paint actually ended up on walls, ceilings and trim. First American Title is proud of our tradition of giving back to the communities that surround us and this is just another of many examples of our efforts!

Front from Left to Right: Jessica Ladwig, Kristen Pehl Back from Left to Right: Christine Biljetina, Traci Benjamin, Nick Simich, Jim Stucker, Ed Gonzalez, Ryan Pettengill, Mary Jean Dominick, Marcia Martinez, Lokey Cloud, Patricia Weinstein, Dianne Cordello, Heather Torres, Raul Vazquez, Stacy Atkinson, Michael J. Stump, Ashley Bundy and Tyler Tosch

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2 016 S TAT E O F T H E S TAT E First American Title hosted our Third Annual State of the State meeting for all of our Illinois Direct Division employees on Columbus Day this past October. Almost 200 employees gathered at the Northern Illinois University Extension Campus in Hoffman Estates for a day of meetings, networking and fun. The theme “People First” was focused on providing information to our staff on a number of topics aimed at celebrating their importance to our company and enriching their knowledge about what our company has to offer them.

The general sessions and breakout groups covered changes in Benefits; Investing, Understanding how HSAs work; Handling Stress; and an annual favorite, a Family Feud game about title issues and policy coverages. Our managers provided testimonials of employees’ outstanding customer service moments, with personal comments and customer emails. Those employees were recognized at the end of the day by the applause of their co-workers and FALive Recognition Points, which employees can use to purchase a variety of items from our company website. Throughout the day we gave away raffle prizes, including flat screen televisions, Fire Sticks, and tickets to sporting events! The event also gives our employees, who work in different offices throughout the state, an opportunity to reconnect with each other and renew friendships.

Darryl Freeman and Barbara Epps Jackson

Speaker, Charlotte Palmer Law

State of the State Title Feud

Jim Stucker and Indrea Burrell

MCLE – FIRS T A MER IC A N TITLE CONTINUE S OFFER ING EDUC ATION First American Title hosted 7 offsite MCLE classes this past September through November. The seminars were presented by Martin Cann, First American Title, Illinois State Underwriting Counsel and Mojca Anaya, First American Title, Illinois Escrow Lead. The seminars focused on two topics our industry is currently experiencing: "Cyber Fraud, What You Can Do To Protect Yourself and Your Clients” and “TRID Transaction Review and Suggested Practices." Thank you to all who attended. From Left to Right: Marty Cann and Mojca Anaya

Presenter, Marty Cann

Fall 2016 | PAGE 6

Mary Glavac and Kelli Winsky

Pamela Ahlborn and Rosey Bhasin

Susan Graj, Norberto Vasquez and Mary Glavac

Tracie Facio and Jodine Goldstein

Top Row L to R: Bonnet Ashouri, Indrea Burrell, Tricia Tenute, Robyn Hinson, Micheal Carlock, Nick Graj Bottom Row L to R: Mike Noha, Raquel Smith, Percy Montilla, Cathy Badalamenti, Joe Carlock

Kristen Galaudet and Darryl Freeman

Kate Rehberg and Catherine Wyatt

Pat Weinstein and Charlotte Palmer Law

Leslie Shellman, Mojca Anaya and Amy Scarrella

Kimberly Wolf and Lorie Cooper

Percy Montilla, Raquel Smith, Bonnet Ashouri and Indrea Burrell

Susan Nunnally and Ann Marie Zajac

Cathy Murphy Gonzalez, David Robles and Stacy Atkinson

Heather Torres and Tom Kantola

Tianna Ellis and Dawn Bragg

Ron Ogorek, Mojca Anaya, Mary Glavac, Kelli Winsky, Pat Weinstein, Ryan Pettengill and Chris Poulsen

Ray Glatz, Cindy Hurst, Diane Lupa, and Brenda Marshall

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O K TO B E R FE S T AT M O R E

SU M M E R BA R A SSO C I AT I O N O U T I N GS

On Wednesday, October 13th, the Main Street Organization of REALTORS® (MORE) held its 9th Annual Oktoberfest. Amid the lederhosen and traveling German oompah band, dozens of vendors set up booths offering a wide array of goodies and information. The real estate community was well represented by REALTORS®, attorneys, lenders, title companies and just about every other vendor related to our industry. First American Title was a proud attendee and sponsor of this very well attended event. We look forward to seeing you at the 10th Annual Oktoberfest next year!

First American Title values their attorney agent partners and actively supports local Bar Associations. It was a pleasure to participate in the Northwest Suburban, Lake County and McHenry County Bar Association outings this summer. The Northwest Suburban Bar Association outing was held at Schaumburg Golf Club on August 8th

Cathy Murphy Gonzalez

From Left to Right: Amanda D’Anna, Tyler Tosch, Nick Simich

D U PAG E VS. K A N E BA R A SSO C I AT I O N

The Lake County Bar Association Outing was held July 15th at Thunderhawk Golf Course

On September 21st an epic battle possibly determining the future careers and success of many local barristers was waged. OK, it wasn’t epic and probably didn’t affect anybody’s future, but it was fun! The DuPage County Bar Association faced off against the Kane County Bar Association in a softball game held at Benedictine University in Lisle. The proceeds from the event benefited both the Kane County Bar Foundation and the DuPage County legal Aid Foundation. Being non-partisan, First American Title was a proud sponsor of both Bar Associations. Oh, by the way, Kane County eked out a 2-1 victory, but everyone won!

CO O K CO U N T Y (PR O PE R T Y A F T E R D E AT H) First American Title recently sponsored the “Property After Death Seminar and Vendor Fair” which was hosted by the Cook County Recorder of Deeds, Karen A. Yarbrough. The informational program breaks down the estate-planning process into 3 steps: Know Your Status; Develop Your Plan; and Tell Your Heirs. At the presentation, residents learn how to find out if their home is held in joint tenancy and what that means, available options to create a plan, and are encouraged to share the planning process with loved ones to ensure everyone is on the same page. Attendees also learn about reverse mortgages, and the most common ways people misunderstand them.

From Left to Right: Tom Kantola, Jennifer Mahoney, Attorney Rich Nakon, Jim Stucker and Chris Poulsen

The McHenry County Bar Association Outing was held August 4th at Turnberry Country Club While none of the golfers will be quitting their day jobs anytime soon, a great time was had by all supporting these great organizations. From Left to Right: Attorney Craig Krandal, Ella Russell, Attorney Andrew Prunty and Attorney Guy Youman

Michael Turner Memorial Golf Outing On June 16th, First American Title helped sponsor the Michael Turner Memorial Golf Outing. This tournament benefited the Court Appointed Special Advocates for Children (CASA). The event was held at Blackberry Oaks Golf Course and was hosted by the Kendall County Bar Association. A great time was had by all on behalf of a wonderful cause!

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I M BA B E S T I N B I Z AWA R DS D I N N E R On October 6, 2016 the Illinois Mortgage Bankers Association held their annual Best in the Biz Awards dinner. Congratulations to our nominees, Colletta Ball for Best Title Insurance Account Representative and JoeAnn Watson and Elizabeth Hamner for Best Title Insurance Company Closer. You’re all winners in our eyes!

STR ATEGIC MARKETS PRESENTATION AT MAIN STREET ORGANIZ ATION OF REALTORS On October 11th, Darryl Freeman, the Market Integration Manager at First American’s Strategic Markets Division, gave a fascinating presentation to many members of the Main Street Organization of REALTORS® (MORE) on how cultural differences affect the real estate transaction.

Darryl Freeman

Darryl explored the variances between different cultural groups and their norms and customs, and the importance of recognizing and understanding the differences and responding appropriately. The information he provided will certainly help those who deal with multi-cultural transactions!

From Left to Right: Elizabeth Hamner, Patricia Weinstein, JoeAnn Watson and Colletta Ball

3 R D A N N UA L N AT I O N A L A SSO C I AT I O N O F G AY & L E SB I A N R E A L E S TAT E PR O FE SS I O N A L S (N AG L R E P) CO N FE R E N C E On October 10th 2016, LGBT & allied real estate professionals gathered for the 3rd annual National LGBT Real Estate Conference in Fort Lauderdale FL. Established in 2007, NAGLREP is the Number One Forum for LGBT Home Buyers, Sellers, and LGBT & Gay Friendly Real Estate Professionals. Among the many great presentations on various ways to promote business within the LGBT marketplace, presentations were made by our very own Kim Dickey, Maria Valentin, and Jennifer Castejon. Since 2007 NAGLREP has worked diligently to build connections across the globe, as well as lobby for laws that protect same sex couples in the real estate market. Just as important as this cause is to NAGLREP, First American Title stands with, and supports this vision. It is our focus to provide an experience to all of our clients that makes them feel a sense of community as well as our family.

From Left to Right: Joseph Kirkland, Michael Stump and Michael Jackson

Lorie Cooper, Debbie Ozanic, Pat Weinstein and Anna Bucaro

Parker S. Kennedy, greatgrandson of the founder of the First American Title, discussing history of the company.

R EG I O N A L E SC R OW SU M M I T We were honored to send three of our closers to a Regional Escrow Summit at our corporate headquarters in Santa Ana, California this past September. Anna Marie Bucaro (Hoffman Estates), Debbie Ozanic (Oak Park) and Lorie Cooper (O’Fallon) participated in a three-day meeting with other escrow officers from the East Region to discuss best closing practices, share ways to make the closing experience less stressful and a more positive experience. The attendees got to talk about issues that get in the way of a seamless closing, and share them with heads of various support departments. They met with members of IT to discuss improvements on our operating systems and latest changes in computer equipment, and with senior escrow leaders about process improvements. A company website has now been set up with a list of the issues discussed and status updates on changes and improvements being made. We hope this will be an annual occurrence and that more of our great closers get to attend this incredible event

Upcoming MCLE Webinar Look for future email announcements or consult with your First American Title Sales representative for: Keeping Your Good Deed Unpunished… Deed Requirements and Types Tuesday, December 13th, 2016. Date subject to change.

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HEL PI NG T O CR E AT E T HE A MER IC A N DR E A M Did you know First American now has a "KEY" prop to capture the moments after the closing is completed. The photo can be taken by our staff with the customerâ&#x20AC;&#x2122;s phone for a lifetime of memories.

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Cultural Intelligence and the Next Generation of Real Estate Practitioners By: Maria Valentin, Vice President of Strategic Markets for First American Title Company

Maria Valentin, is Vice President of Strategic Markets for First American Title Company. She started her real estate career in 1984 when she obtained her real estate license and worked as a REALTORS®/Broker in Burbank, California. During her very successful career she closed 731 transactions. She retired from real estate sales and moved to Carmel, California in the year 2000. As a result of her vast experience, and as further testimony to her mission of generating homeownership opportunities for multicultural communities, Maria was hired by First American Title in 2003 and became the co-founder and chief architect of the Strategic Markets division. This forward-thinking, specialized division is committed to fostering and strengthening industry knowledge about how to better serve multicultural markets through service, education, and cultural understanding. When considering the changing demographics in the United States, it is obvious that the next generation of real estate agents will need to be well versed in cultural intelligence. While expecting real estate practitioners to become cultural anthropologists is unrealistic, there are several skills that can be developed to assist the sales and business process. Ideally, one would think that developing a list of “do’s and don’ts” for each target culture is the answer. But, in my opinion, this can be a large undertaking that may not fit everyone and may cause even more confusion.

When training our own staff on the cultural nuances necessary when serving multicultural clients, I always like to bring up an eye-opening anecdote which has occurred to me on several occasions. Being a Hispanic (born in Colombia, South America), I have often greeted a Hispanic looking person with a customary hug and a Spanish “Where are you from?” only to receive the rather perplexed look with a “from Chicago, why?” Though well intentioned, I failed to practice what I preach; when curious about a person’s ancestry, the safest way to find out is by asking “What is your cultural background?” With that being said, it is important to know that even when the multicultural client is English-dominant or English speaking only, they are still predisposed to those deep seated nuances that are part of culture. Although most people think that they are “cultureless” because they are at home, they speak their own language without an accent and nothing seems unusual, the truth is that everyone has a culture (an accent, a different way of processing information and situations, etc.) which someone somewhere in the world thinks is different and perhaps exotic. 2000

2010

2016

2021

Total Population

281.4M

308.7M

324.9M

341.0M

Asian Population

10.4M

14.9M

17.9M

20.7M

African-American Population

33.7M

37.7M

40.0M

42.1M

Hispanic Population

35.2M

50.5M

60.0M

68.1M

Source: Geoscape, 2016

The best definition of culture that I have found is one by Brooks Peterson: “Culture is the set of inner values and beliefs held by groups of people in countries or regions and the impact that they have on peoples’ outward behaviors”. In our industry, for example, some of the behaviors that may greatly impact the sales process can be notions of time, communication styles, rules about relationships, role of elders in the decision making process, importance of face and harmony, etc. For example, it is probably fair to say that Asians generally value respect, formality, status and hierarchy. In contrast Americans, Canadians and others tend to value directness over formality and equality over status or position. Remember, neither is right or wrong; they simply are what they are. Continued... Fall 2016 | PAGE 11

Top Metro Areas - 2016 Hispanic Population Source: Geoscape, 2016

But how can the next generation of practitioners facing a global economy and the changing faĂ§ade of America prepare to become culturally intelligent? Although there are exceptions to every rule, there are valid generalizations that allow us to paint a fairly accurate picture of how people from a given country are likely to operate. Below are five basic dimensions that offer a solid starting point in analyzing different cultures. I am providing examples for each as they may relate to the real estate and settlement process. Equality vs. Hierarchy A style that is based on equality may mean, among other things, that someone prefers to treat all employees, regardless of rank or tenure, in basically the same way, while someone with a style based on hierarchy may expect younger, less experienced employees to treat older, longer tenured employees with additional respect and reverence. Direct Communication vs. Indirect Communication Someone who is direct may prefer to openly confront issues or difficulties while an indirect person may discreetly avoid difficult or contentious issues. Individual vs. Group An individualistic style may manifest itself when someone prefers to make decisions individually versus a person exhibiting the group style who prefers to make a decision based on group consensus. Task vs. Relationship Task oriented people prefer to move straight to business; relationships come later. Relationship oriented people, on the other hand, prefer to establish a friendship and a sense of mutual trust prior to getting down to business.

Metro Area

Hispanic Population

Los Angeles - Long Beach-Anaheim, CA

6,206,970

New York - Newark-Jersey City, NY-NJ-PA

4,957,319

Miami - Ft. Lauderdale-West Palm Beach, FL

2,760,715

Houston - The Woodlands-Sugar Land, TX

2,577,051

Riverside - San Bernardino-Ontario, CA

2,331,913

Chicago - Naperville-Elgin, IL-IN-WI

2,167,898

Dallas - Fort Worth-Arlington, TX

2,161,486

Phoenix - Mesa-Scottsdale, AZ

1,425,269

San Antonio - New Braunfels, TX

1,318,588

San Diego - Carlsbad, CA

1,137,719

Top Metro Areas - Asian Hispanic Population Metro Area

Asian Population

New York - Newark-Jersey City, NY-NJ-PA

2,186,120

Los Angeles - Long Beach-Anaheim, CA

2,142,461

San Francisco - Oakland-Hayward, CA

1,183,962

San Jose - Sunnyvale-Santa Clara, CA

675,910

Washington - Arlington-Alexandria, DC-VA-MD-WV

648,472

Chicago - Naperville-Elgin, IL-IN-WI

611,826

Houston - The Woodlands-Sugar Land, TX

525,908

Seattle - Tacoma-Bellevue, WA

522,877

Honolulu - HI

517,065

Dallas - Fort Worth-Arlington, TX

456,197

When you see someone behaving a certain way, especially if you see it happen repeatedly, and you have an understanding of his or her culture-based values, you will also begin to see the reason behind the behavior. If, prior to working with the multicultural client, the practitioner determines where the clientâ&#x20AC;&#x2122;s culture tends to fall on the dimensions above, odds are that the relationship will be one that flows and feels more comfortable. The client will feel understood and referrals will be a natural outcome of a successful

Risk vs. Caution Those who embody a risk style prefer to make decisions quickly with little information while those who embody a cautious style will prefer to collect considerable information before making any decisions. Fall 2016 | PAGE 12

Items of Interest

October 2016 Housing Forecast: Provided by Regional Economics Applications Laboratory, Institute of Government and Public Affairs University of Illinois as of October 2016

However, this is still under the 1.5 million new homes needed to make up for the shortfall in recent years and keep up with the growing demand.

Release written by Brena Swanson of HousingWire November 4, 2016 - Brena Swanson For the majority of this year, the housing market could not get past low inventory levels, which were continuously cited as the main road block to a fully healthy housing market. Next year should be better, according to the newly release forecast from the National Association of REALTORS®, but it’s going to take time. During the residential housing and economic forecast session at the 2016 Realtors Conference & Expo, Lawrence Yun, chief economist of the National Association of REALTORS®, and Dennis Lockhart, president and CEO of the Federal Reserve Bank of Atlanta, discussed the 2017 housing and economic forecast, along with the economic conditions that support the housing sector. “It’s evident that demand and sales slightly weakened over the summer as stubbornly low supply limited buyers’ choices, accelerated price growth and hindered some consumers’ belief that now is a good time to buy a home,” Yun said. Looking to next year, Yun stated that he think the tight supply and affordability issues affecting buyers in many markets will very slowly but surely start to abate. Yun predicts that housing starts will jump 5.3% next year to 1.22 million.

The report added that new single-family home sales are likely to total 570,000 this year and rise to around 620,000 in 2017. And ready to step into those new homes are Millennials. Both Yun and Lockhart stated that they are optimistic that housing demand will include leading-edge millennial households finally dipping their toes into the market at a growing rate. “NAR surveys from both current renters and recent buyers prove that there’s an overwhelmingly strong desire among the younger generation to own a home of their own,” said Yun. “The housing market over the next couple of years should get a big lift in demand from these new buyers. The one caveat is it’s essential that there’s enough new and existing supply at entry-level prices for them to reach the market.” According to Yun’s forecasts for next year, existing-home sales are projected to grow roughly 2% to around 5.46 million, and then experience a more prominent jump of 4% in 2018 (5.68 million). The national median existing-home price is expected to rise to around 4% both this year and in 2017, and by the end 2017, Yun said he expects rates to be around 4.5%. As for the rest of 2016, Yun added that he expects existing-home sales to finish at a pace of about 5.36 million – the best year since 2006 (6.47 million). “The gradually expanding economy, multiple years of steady job creation and mortgage rates under 4 percent all contributed to sizeable interest in buying a home this year,” Yun said. Fall 2016 | PAGE 13

Help Us Help Your Client

Avoid Wire Fraud! For over a year, the real estate industry has been flooded with reports of fraudsters impersonating clients to steal money from unsuspecting consumers and lenders. These reports have come from both attorneys and title companies throughout the country. The threat still exists and we need your help to combat the criminals and avoid wire fraud.

Because wire fraud is still rampant in Illinois, First American Title is incorporating a new form into our local closing process: Proceeds Disbursement Instructions Form.

First American Title Phone 877-295-4328

File No.: ______________________

To: First American Title Re: __________________________________________, ___________________________________ ("Property")

Proceeds/Funds Disbursement Instructions Proceeds: The undersigned directs that the proceeds/funds due will be disbursed in the following manner:

The Proceeds Disbursement Instructions form verifies that proceeds are routed to the correct bank and account number. This form should be acknowledged by the seller requesting funds to be wired. If these instructions cannot be presented to us at the time of closing with a seller original signature only, to protect your client, our escrow officer will contact the seller. Please be prepared to provide a trusted phone number for the seller; a number you have used to contact your client in the past. This document may be completed and pre-signed by the seller and brought to closing by the sellersâ&#x20AC;&#x2122; attorney if the seller is not attending the closing.

[ ] Mailed to the address below

[ ] Sent via overnight delivery

[ ] Sent via wire transfer **

[ ] Other:________________________________________

** If checked, attach wiring instructions of receiving bank or fill in below. With cyber fraud on the increase, we suggest you mail, use an overnight service or hand-deliver any items containing banking or other private information and not send via email.) Bank Name:

___________________________________________________

Name on the Acct: ___________________________________________________ Account No.:

__________________________________________________

Routing No.:

___________________________________________________

Phone No.:

___________________________________________________

Type of Account:

Checking

Savings

Any further instructions: ________________________________________________________________

Please Note: Modified or amended disbursement instructions must be signed by the parties at a First American office. Proof of identity will be required. Funds disbursed to other than record owner must be in writing with authorized approval by First American Title Company and possibly buyer/borrowerâ&#x20AC;&#x2122;s lender on a TILA-RESPA Integrated Disclosure (TRID) regulated loan. Receiving Banks may impose a charge for the receipt of any wire transfers. Escrow Holder is not responsible for delays in wiring caused by time restrictions of the Federal Reserve Board or late confirmation of recording. When funds are sent to a bank outside the United States, Escrow Holder shall not be responsible or liable for any loss or expense incurred as a result of currency exchange rates, delays in availability of funds, or delays due to the U.S. bank or foreign bank requiring additional information. Escrow Holder shall have no liability or responsibility after properly initiating the outgoing wire transfer.

The undersigned acknowledge that the Proceeds/Funds Disbursement Instructions are complete and accurate.

X___________________________________________________________________ Print Name(s): _________________________________________________ Date:

This editable PDF is located on our customer website, www.il.firstam.com or may be obtained from any First American Title employee.

____________________________________________________

Address:

_____________________________ ______________________________________________

Home Phone:

______________________________________________

Cell Phone:

______________________________________________

Business Phone:

______________________________________________

F O R M O R E I N F O R M AT I O N

Please contact our Illinois Escrow Lead, Mojca Anaya at mmagajne@firstam.com or call her at 630.799.7340. We realize that you have been hearing from us on these issues well over a year now. Please understand that the threats have not diminished and are not going away.

Fall 2016 | PAGE 14

First American Title Phone 877-295-4328

File No.: ______________________

To: First American Title Re: __________________________________________, ___________________________________ ("Property")

Proceeds/Funds Disbursement Instructions Proceeds: The undersigned directs that the proceeds/funds due will be disbursed in the following manner: [ ] Mailed to the address below

[ ] Sent via overnight delivery

[ ] Sent via wire transfer **

[ ] Other:________________________________________

____________________________________________________

Address:

___________________________________________________

Name on the Acct: ___________________________________________________ Account No.:

__________________________________________________

Routing No.:

___________________________________________________

Phone No.:

___________________________________________________

Type of Account:

Checking

Savings

Any further instructions: ________________________________________________________________

The undersigned acknowledge that the Proceeds/Funds Disbursement Instructions are complete and accurate.

X___________________________________________________________________ Print Name(s): _________________________________________________ Date:

_____________________________

Address:

______________________________________________

Home Phone:

______________________________________________

Cell Phone:

______________________________________________

Business Phone:

______________________________________________ Fall 2016 | PAGE 15

What’s your favorite Illinois attraction? Your Point of View…

Judy Maldonado, Attorney The Law office of Judy K. Maldonado 1800 Nations Drive, Gurnee, IL 60031

Some of my favorites are the Museum of Science & Industry, a Segway tour by Navy Pier is an amazing way to see the city, a cooking class at The Chopping Block or The Wooden Spoon, an Iron Chef challenge in Itasca, Marriott Lincolnshire for dinner theater (or family shows on Saturday mornings), a comedy show at Second City, nightlife at MB Financial Park (they have indoor skydiving, bowling, pool, Zanies comedy club, Sugar Factory for drinks and desserts, and so many other great options for entertainment), and so much more!”pitch.

Ed Gonzalez, Customer Service First American Title, Warrenville, IL

My favorite Illinois attraction would have to be the IL sports teams of Chicago. I have been very fortunate to say that I grew up in Chicago. I remember way back watching my hero Walter Payton with the ’85 Bears, then the 6 championships with Michael Jordon and the Bulls, then also the White Sox winning the World Series in ’05 and the Blackhawks winning 3 Stanley Cups, and now the Cubs won their first World Series since 1908! These are very EXCITING times for the best sports town in the world, Chicago, IL! Go Cubs Go!!!

Debbie Johnson, Senior Escrow Officer First American Title, Gurnee, IL

My Favorite attraction in Illinois, hands down is the City of Chicago; with so many opportunities it offers amusement for every season! My favorites are Navy Pier, Millennium Park, and WRIGLEY FIELD, (go Cubs go)!! Another special time for me in the City is Christmas, I will take a couple of my nieces and we'll hop on a train and walk around for hours just watching the people, visiting the skating rink, or the Bean, and looking at all the beautiful Christmas decorations. Of course we don’t miss the opportunity to go to Giordano’s and get the famous deep dish pizza!! The entertainment is endless in addition we have Lincoln Park Zoo, Soldier Field, all the Theatres and then during the summer fest after fest. You will always find something, no matter what you desire.

Fall 2016 | PAGE 16

We would love to hear from you! If you are interested in submitting an article to be considered for our newsletter, please contact your First American Account Representative.

Would you like to receive the Taking Flight Newsletter via email? Please send your email address to: takingflight.il@firstam.com if you would like us to send you a copy of this newsletter to your inbox. Fall 2016 | PAGE 17