Open Forum

 View Only
  • 1.  Chase Bank

    Posted 13 days ago

    Does anyone bank with Chase bank and in the past day now NOT been able to add in new people to wire without having to get one million codes? They told me now that all new recipients need to be added via a MOBILE device or in the branch.  Before I go insane and switch banks, wanted to ask around. Our banker has no idea.



    ------------------------------
    Christi

    ------------------------------
    ALTA Marketplace


  • 2.  RE: Chase Bank

    Posted 12 days ago

    Why do you bank with Chase, when BankUnited offers special services to title companies? I switched over to BankUnited about nine months ago (and yes, it is a PITA, but what I get from them is highly worth it - dedicated bankers who understand our industry who are there for me when I need them; low and no cost wires; if you use Qualia, additional services from Qualia that BankUnited pays for (depending on your account balances) and much more. I learned about these advantages on this forum and I highly recommend them to everyone.



    ------------------------------
    Peter Pike Esq.
    Attorney
    Pike Law Firm, PA
    Bradenton FL
    +1 (941) 312-2580
    ------------------------------

    ALTA Marketplace


  • 3.  RE: Chase Bank

    Posted 12 days ago

    Thank you, I will check that out!!!!

     

    Christi Kay
    Golden Eagle Title & Escrow, Inc.

    5152 Darrow Road

    Hudson, Ohio 44236

    T 216-785-2323 | F 216-503-7117

    Direct Line 216-358-9306

    www.goldeneagletitle.com

     

     

    WARNING- FRAUDULENT FUNDING INSTRUCTIONS

    Email hacking and fraud are on the rise to fraudulently misdirect funds. Please call your escrow officer immediately using contact information found from an independent source, such as the sales contract or internet, to verify any funding instructions received. We are not responsible for any wires sent by you to an incorrect bank account.

     




    ALTA Marketplace


  • 4.  RE: Chase Bank

    Posted 9 days ago
    About Qualia and Bank United: I have often wondered why Bank United will pay for extra services, like escrow reconciliation, for Qualia users but will not offer those same benefits to users of other settlement platforms.

    Does anyone know why? Bank United, what's your explanation?


    Edwin G. Generes, CPA (Inactive)
    Founder & CEO
    Member: American Land Title Association





    1040 Old Spanish Trail, Suite 10
    Slidell, LA 70458
    985-317-3398 (Direct)
    985-641-3490, ext. 101

    Superior technology combined with exceptional expertise

    All our outgoing emails are supported by TLS encryption. We have verified the recipient(s) of this message has/have also enabled TLS encryption.   Email communications are automatically secure if their email server supports Transport Layer Security (TLS). This means the entire transmission is 100% secure and meets all NPI requirements for secure email communications.

    Notice: This communication, including attachments, may contain information that is confidential and protected by the laws of privilege. It constitutes non-public information intended to be conveyed only to the designated recipient(s). If the reader or recipient of this communication is not the intended recipient, an employee or agent of the intended recipient who is responsible for delivering it to the intended recipient, or you believe that you have received this communication in error, please notify the sender immediately by return e-mail and promptly delete this e-mail, including attachments without reading or saving them in any manner. The unauthorized use, dissemination, distribution or reproduction of this e-mail, including attachments is prohibited and may be unlawful. Further, nothing in this communication and/or its attachments should be considered legal, tax or accounting advice or the rendering thereof.






    ALTA Marketplace


  • 5.  RE: Chase Bank

    Posted 8 days ago

    Ed,

    Got to be something going here. Their website mentions several other platforms so I'd love to know what they are getting from Qualia to make them a "super preferred" partner.

    Also, based upon a few closings that I've had with clients using internet only banks, I'd never use a bank that didn't have branch in the area. And at the same time, I don't use a top 25 bank. Too many times I've needed something done that would never happen if I had to call Chase, BOA or Regions. 



    ------------------------------
    Jeffrey N. Senkbeil
    205-515-9642
    Deep South Title, LLC
    4000 Eagle Point Corporate Drive
    Birmingham, Alabama 35242
    [email protected]
    ALTA ID: 1136658
    ------------------------------

    ALTA Marketplace


  • 6.  RE: Chase Bank

    Posted 7 days ago
    Jeff, 

    I agree whole-heartedly.  I have never used a "big bank", preferring the personalized experience I get with the smaller banks.  My go to has been Capital Bank.  Their title team is made up of individuals who come from the title world and have many years of experience in title.  In addition, I have never had much in the way of fees.  If I need something, there is always someone there to help me get things resolved quickly.



    I have a great referral network so if you "need a guy or gal" or if you want to "be a guy or gal", let me know and I'll connect you!! For a partial list of my trusted network, click here https://www.letipwired.com/extnetwork/17ca070b-5114-43cd-bd84-a281540020b1

     



    Nancy L. Gusman, Esq.                                                 

    GusmanLegal, LLC   

    Brick House Consulting Services, LLC

    Affiliated with Centerview Title Group, LLC    

    Past President, Maryland Land Title Association

    Certified Land Title Professional (CLTP)

    National Title Professional (NTP)                                                                 

    11720 Beltsville Drive

    Suite 500

    Beltsville, MD 20705

    Phone: (301)563-9669

    Fax: (240)559-1430

    Mobile: (240)994-1697

    Email: [email protected]

     

     

    This e-mail and any attachments may contain confidential and privileged information. If you are not the intended recipient, please notify the sender immediately by return e-mail, delete this e-mail and destroy any copies. Any dissemination or use of this information by a person other than the intended recipient is unauthorized and may be illegal.

     

     




    ALTA Marketplace


  • 7.  RE: Chase Bank

    Posted 7 days ago
    Hi Nancy,

    I couldn't agree more, the best banks for title companies are usually the smaller regional or community banks because you'll be assigned a banking officer that understands your banking needs particularly when it comes to uncollected funds either incoming or outgoing. The larger banks just don't seem to care about an individual depositor.

    On the other matter where bank united pays a portion of some expenses for its title company depositors, it's important to know that banks either borrow money from other banks or lend money to other banks (depending upon their liquidity requirements) on a daily basis. The interest rate charged is called the interbank lending rate which can vary somewhat but is closely tied to the fed funds rate. Today's feds funds rate is approximately 3.87%. Let's say that your title company has an average collected balance of $500,000, the amount of profit your bank is realizing from your deposits is over $19,000 per year. $1 million in average collective balance would equal profits of over $38,000 per year. It's easy to see why banks like Bank United and Capital Bank who specialize in title companies cultivate that business because it is extremely profitable for the banks. Consequently, thanks like Bank United have seen the value of paying directly or reimbursing it's title company depositors for services related to those escrow accounts.

    There is nothing preventing smaller banks from participating in this lucrative business. And, I frankly don't understand why more banks don't actively pursue title company deposits.

    For a longer discussion of this matter, see my blog post at: https://www.generes.biz/blog/the-escrow-sweep-stakes

    Ed

    Edwin G. Generes, CPA (Inactive)
    Founder & CEO
    Member: American Land Title Association





    1040 Old Spanish Trail, Suite 10
    Slidell, LA 70458
    985-317-3398 (Direct)
    985-641-3490, ext. 101

    Superior technology combined with exceptional expertise

    All our outgoing emails are supported by TLS encryption. We have verified the recipient(s) of this message has/have also enabled TLS encryption.   Email communications are automatically secure if their email server supports Transport Layer Security (TLS). This means the entire transmission is 100% secure and meets all NPI requirements for secure email communications.

    Notice: This communication, including attachments, may contain information that is confidential and protected by the laws of privilege. It constitutes non-public information intended to be conveyed only to the designated recipient(s). If the reader or recipient of this communication is not the intended recipient, an employee or agent of the intended recipient who is responsible for delivering it to the intended recipient, or you believe that you have received this communication in error, please notify the sender immediately by return e-mail and promptly delete this e-mail, including attachments without reading or saving them in any manner. The unauthorized use, dissemination, distribution or reproduction of this e-mail, including attachments is prohibited and may be unlawful. Further, nothing in this communication and/or its attachments should be considered legal, tax or accounting advice or the rendering thereof.






    ALTA Marketplace


  • 8.  RE: Chase Bank

    Posted 7 days ago

    I have the same concerns/questions!

     

    J. Rawleigh Simmons, Manager 

    River Title & Escrow, LLC 

    219 Main Street 

    P.O. Box 789 

    Warsaw, VA 22572 

    Tel  (804) 333-0195  Ext. 100

    Fax (804) 333-0197 

     

    www.rivertitleva.com

     

    Title License #1036801

    River Title License #141425 

     

    Please note that River Title & Escrow will be closed May 26, June 19, July 4, September 1, October 13, November 4, November 11, November 27 & 28, December 24-January 2, 2026.  

     

    NOTE:  To protect seller proceeds from possible scams, River Title & Escrow, LLC will only accept wiring instructions on our notarized proceeds authorization form delivered with the original deed package.  NO EXCEPTIONS. 

     

    IMPORTANT NOTICE:  For your protection, contact this office by phone to confirm wiring instructions verbally prior to sending a wire. Never trust wiring instructions sent via e-mail.  Cyber criminals are spoofing email accounts and sending emails with fake wiring instructions.  These e-mails are well done and very convincing.  Always independently confirm any wiring instructions in person or by telephone to a trusted and verified phone number.  Never wire money without verifying wiring instructions.  Our wiring instructions do not change. 

     

     




    ALTA Marketplace


  • 9.  RE: Chase Bank

    Posted 5 days ago

    I used Bank United and Qualia for my last title agency. I loved Bank United. Their service was outstanding, the integration & reconcilliation service with Qualia was hugely valuable, and I never once had a problem with not having a local branch.

    In fact, since there aren't local branches, my banking experience was far supierior to when I was using a smaller regional bank. Here's why. In PA, closings rarely happened in my office. I was over expected to travel to the real estate office, bank branch or borrowers home. Which means I could be anywhere at all hours of the day and evening, with a check in hand that needed to be deposited. Mobile deposit value limited frequently prevented me from doing a mobile deposit with settlement funds. So that leaves me with trying to find the nearest branch of my bank to get a deposit done same day, which often meant driving well out of my way instead of just going straight back to my office. But with Bank United, they had me fully set up for handling transactions without a branch. I had higher limits for mobile deposit and I had a machine in my office with which I could scan and deposit checks. It was great!

    I'd also like to mention that while at ALTA One I met the folks from Metropolitan Commercial Bank  and they blew me away with their knowledge of the title industry and our unique needs. They left me with zero doubts about their ability to provide exceptional service to title agents. (I wrote a bit about that here, if you're interested.) 



    ------------------------------
    Stay Wicked my Friends,
    Cheryl Evans
    Executive Director: Wicked Title Forum
    Publication & Online Business Support Community for the Title Industry
    https://wickedtitle.com
    [email protected]
    ------------------------------

    ALTA Marketplace