The 16th annual National Settlement Services Summit (NS3), slated for Sept. 1-3, will feature a track dealing with innovation throughout the title and mortgage industry, one of three tracks featured at the show.
The Innovation Track is sponsored by WFG National Title Insurance Co.
On Sept. 1, during the session “Lean into AI,” panelists will discuss artificial intelligence’s role in the real estate transaction. Those panelists include James Schlimmer, founder and instructor, GrowMyTitleBusiness.com and managing partner Cottrell Title & Escrow; and States Title Chief Data Science Officer Andy Mahdavi.
“During NS3 I hope to dive into how AI can be used to not only address general questions but help answer file specific questions, proactively push information to key parties of the transaction and answer responses accordingly and finally how AI can be leveraged to expand a title companies brand awareness when tied into their overall marketing efforts,” Schlimmer said.
“Are you the title company that stands up at sponsored events and asks for business by saying you have the best customer service or the greatest closer? Or are you the company that is leveraging AI and offering your clients tools that will make their and their clients lives easier?” he asked.
The AI session will be followed by a Digital Lender Panel in which guests will discuss how digital lenders are changing how real estate transactions are made, and how title professionals can help digital lenders meet consumer expectations.
That panel will include Staci Hughes, vice president of mortgage operations, Reali; Landy Liu, general manager, Better.com; and Jeremy Potter, senior director, strategy and innovation, Quicken Loans.
On Wednesday, the Innovation Track will begin with the “I Spy iBuyer” session, which will feature Vanessa Famulener, head of Cash Close, HomeLight; and RJ Jones, executive vice president, finance and growth, eXp World Holdings. Famulener and Jones will discuss iBuyers are disrupting the traditional real estate transaction by buying homes directly from consumers.
That session will be followed by “Mastering Remote Closings” which will examine how digital mortgage adoption has grown in the wake of the COVID-19 pandemic. Panelists for the session include Shane Hartzler, director, eMortgage strategy and operations, Fannie Mae; Brian Hughes, CEO Amrock; and Pat Kinsel, founder and CEO, Notarize, Inc.
“Twenty-twenty is the year of eClosings,” Kinsel said. “Back in January, we were already predicting a banner year because more than half of the country was eligible for RON closings and our partnership with Encompass opened the doors to the majority of lenders across the country. And now, due to COVID, everything E has been accelerated.”
“What happens when you cram five years of digital transformation into two quarters? How do organizations need to reshape their own innovation timelines as they think about how technology impacts their business?” Kinsel asked. “And, the real estate transaction is ultimately a very well-known and well-orchestrated process that culminates in the closing. How does that closing timeline change as the industry shifts to E?”
Wednesday’s Innovation Track will end with the session “Innovating Your Company Culture,” during which panelists will discuss how to increase enthusiasm, production and efficiency by taking innovative approaches to your company culture.
Panelists include Donna Anderson, assistant vice president, agency development manager, North American Title Insurance Co.; ALTA CEO Diane Tomb; and MBH Settlement Group CEO Fred Westerlund.
“In today’s economy, even before the COVID pandemic, we have found it necessary to innovate the culture in the real estate and title industry to adjust our way of doing things for a few reasons,” Anderson said. “We have a whole new generation of folks that are getting involved and are buying houses, the millennials.
“It isn’t only tech that is changing it is also the ‘personality’ of the industry. Our cultural values, defined work ethic and the general way of doing things have to change to keep up with the times.”
“When thinking about the title industry, the word ‘innovative’ does not always come to mind,” Westerlund added. “Obviously, we have regulations, standards, and laws that we must adhere to but it is still possible to be innovative. In fact, it is necessary.
“We are a service industry and people have come to expect that we deliver outstanding service – consistently,” Westerlund said. “We must innovate in order to meet that expectation – our industry is no different from other industries in that the needs and business practices of our clients, partners and vendors are constantly evolving. We must evolve as well.”
On Thursday, the track will start with the session “How Successful Agents Are Running Their Businesses.” In that session, Matt Einheber of Titlebox will examine case studies of strategies used by successful agents.
“There really isn’t any space in this industry to share what we do successfully with each other, and often companies hold their cards close to their chest,” Einheber said. “I’ve taken the lid off and we’ll look at the successful and unsuccessful practices of several title agencies, small, medium and large.
“We’ll anonymously share some best practices, along with my perspective from seeing, talking with, meeting with, consulting with, taking on as clients, knowing about the title operations of hundreds of different title companies from small to large,” he said.
Finally, the track will end with a Lender Panel discussing how everyone involved in closings can address pain points and form a meaningful collaboration. That panel will include Penny Reed, senior vice president – strategic engagement and financial reform, Wells Fargo Home Lending, and John Murphy, banking and treasury management executive.
For more information on the 2020 NS3, including the agenda and a list of speakers, click here. You can register for NS3 online or click here to get information on how to register via mail, fax or phone.