Chicago Title 2009 Customer Welcome Book

Welcome to Chicago Title

This booklet has been developed to help you understand and access the full breadth of services offered by Chicago Title. Please use this book to help you get acquainted with our organization and services. If you have any questions, I will be happy to answer them.

Thank you for allowing us to serve you. Lona Neal

Business Consultant

Direct: 317-407-0108 lona.neal@ctt.com

» contents Organizational Structure

Contacts

Placing an Order

Title Flags

Explanation of Policies

Items Needed

Rate Card

Locations

PRE-CLOSE TEAM

Working behind the scene, our Pre-Close Coordinators are instrumen-tal in ensuring your transactions get off to a great start.

� Enters new orders and updates existing commitments � Delivers title work and title flags to all parties � Orders surveyor location reports, CCR’s, payoffs, HOA and

sewer letters, and other items pertinent to the transaction

POST-CLOSE TEAM

Although your transaction has already closed, our Post-Close Team is busy tying up all those important final details.

� Reviews and submits all recordings � Completes online sales disclosure for filing of the home-

stead exemption � Ensures all post-closing requirements are met final title poli-

cies are issued

PRESENTER TEAM

Our team of Presenters are experienced professionals who make a closing what it should be - a fun, relaxed, celebratory experience.

� Presents all closing packages at the table � Notarizes all documents � Prepares copy packages for appropriate parties

ESCROW CLOSING TEAM

We’ll never tell you your Escrow Closer is “in a closing”. At Chicago Title, they’re always available to answer your questions.

� Delivers seller-side settlement statements to appropriate par-ties

� Reviews closing instructions and documents � Prepares final settlement statement, makes revisions as neces-

sary, and delivers to appropriate parties � Disburses all proceeds

CLIENT CARE A Client Care Specialist will be specifically assigned to hand-hold your transaction every step of the way.

� Acts as your main point of contact throughout your transaction

� Requests, receives and disseminates pertinent information to all par-ties involved

� Proactively contacts lender for receipt of loan package

� Communicates all pre-close requirements and transaction details with appropriate parties

� Schedules all closings and notifies parties of any special circum-stances

» structure

New Title Order

» contacts

Questions on title work or closing requirements, or to schedule a closing:

Sara Webb Client Care Coordinator � ext 2101

� sara.webb@ctt.com

Shelly Smethers Client Care Coordinator/Team Leader � ext 2706

� bartons@ctt.com

Stephanie Towle Client Care Coordinator � ext 2703 � stephanie.towle@ctt.com

Questions/changes to closing figures:

Gina McKeon Escrow Officer � ext 2707

� mckeong@ctt.com

Tia Marling Escrow Officer � ext 1844

� tia.marling@ctt.com

Amy Schuman Escrow Officer � ext 1847

� amy.schumann@ctt.com

Masters Office 6925 E 96th Street, Suite 100 Indianapolis, IN 46250

tel: 317-570-8607 fax: 317-570-8609

Why wait? Getting a

Login ID is as easy as 1-2-3.

Chicago Title’s fully interactive Order Form allows you to easily and effortlessly order title work, marketing materials & CCR’s, all with the click of a mouse!

» placing an order

What’s in it for you? • No more lost faxes! Receive an instant e-mail confirmation

upon placing your order. • The e-mail confirmation contains a detailed copy of your order to print and include in your file. • Your ordering preferences are saved for future orders. • Easily upload a listing or purchase agreement, tax record

and/or legal description. • The title commitment is e-mailed to you when completed! No searching a website to find your order. • Plus, select from additional items like flyers, postcards &

CCR’s!

Online Ordering with Chicago Title is a snap!

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By Fax: (317) 578-2862

On the web: chicagotitleindy.com

By E-mail: lona.neal@ctt.com

Go to www.chicagotitleindy.com

and click on “Register” along

the left hand side.

Fill out the required fields

and click the “Submit”

button.

Within a few minutes you will

receive e-mail confirmation

that your login ID and

password have been activated.

Pick-up

Provides protection from financial loss due to the following: ALTA 2006

ALTA 1998

ALTA 2008

Ownership Title: Another party claiming an ownership in your home. � �

Public Record Errors: Issues relating to an improperly signed document or a document recorded inaccurately at the County Recorder’s office. � �

Fraud & Forgery: Another party having rights in your property arising from forgery or false impersonation. � �

Undisclosed Heirs: An unknown heir claims an ownership interest in your home. � �

Liens: A creditor of the previous owner attempting to enforce a lien. � �

Access: Discovering you do not have legal access to your home. � �

Subdivision Law: Loss from a violation of a subdivision law, resulting in the inability to obtain a building permit. * � � Building Permit: If you are forced to remove or remedy your existing structures other than boundary walls & fences because it was constructed without obtaining a proper building permit. * � �

Zoning: If you’re required to remove or remedy your existing structures other than boundary walls & fences due to a violation of a zoning law.* � �

Encroachment: (Your structure is located on a neighbor’s property.) Your neighbor forces you to remove existing structures which encroach onto a neighbor’s land. Boundary walls or fences are subject to a deductible. * � �

Encroachment: (Neighbor’s structure is located on your property.) Your property becomes unmarketable because someone refuses to perform a contract to purchase, lease, or make a mortgage loan due to your neighbor’s structure encroaching on your land. � �

Encroachment: (Neighbors creating encroachments after closing.) If your neighbor builds any structures after the policy date (other than boundary walls & fences) which encroach onto your land. � �

Encroachment: (Your structures encroaching onto an easement.) If you are forced to remove a structure which encroaches onto an easement or over a building set-back line. � �

Easements: Loss arising from damage to an existing structure due to the exercise of a right to maintain or use the easement. � � Surface Extraction: Loss from damage to existing improvements due to the future right to use the surface of the land for the extraction or de-velopment of minerals or water. � �

Covenants, Conditions, Restrictions: If you are forced to remove or correct a violation by a previous owner. � � Supplemental Taxes: Supplemental or “roll back” taxes for a period before the policy date. � � Continuation of Coverage: Provides ownership coverage to anyone who inherits the property; a spouse who receives title upon dissolution of marriage; the trustee whom the insured transfers the title; beneficiaries of a trust for estate planning purposes. � �

Automatic Increased Coverage: Policy liability coverage increases 10% per year for 5 years to a maximum of 150% of the initial policy amount. � �

Continuation of Coverage: Provides insurance to a related entity who receives title without payment of consideration; provides insurance to a trustee or beneficiary of a trust established by the insured for estate planning purposes; provides insurance if insured converts to another type of entity.

� Trustee Coverage Only

Creditor’s Rights Coverage: Provides insurance if there is a fraudulent or preferential transfer in a prior transaction in the chain of title; pro-vides insurance for current transaction if the deed constitutes a preferential transfer because the deed was not recorded timely or if the deed fails to impart constructive notice.

� �

Post-Policy Coverage: Provides insurance when date of policy is date of closing and adverse matters affecting title arise after the date of closing but before the recording date of the deed (except for real estate taxes or assessments in this period). �

�

Increase in Insurance: Provides that if the company is unsuccessful in establishing title via litigation, the amount of insurance increases by 10%. � �

Arbitration: Provides that either the insured or insurer can demand arbitration of a claim if the amount of insurance is $2,000,000 or less. � No Limit

No Apportionment Condition: Provides benefit of using total amount of insurance for a loss on a single parcel even though multiple parcels are insured. � �

Your title is defective because of someone’s failure to have authorized a transfer or conveyance of your title. � �

Your title is defective because of someone’s failure to create a valid document by electronic means. � �

Your title is defective because a power of attorney was falsified, expired or is otherwise invalid. � �

Your title is defective because of a defective judicial or administrative proceeding. � �

Condemnation Actions: Provides coverage for condemnation actions if a notice is recorded or the condemnation occurred prior to the policy date and is still binding on the insured. � �

Other Governmental Enforcement Actions: Provides coverage for enforcement actions such as orders to board or repair, if notice of said action is recorded. � �

ALTA Policy Comparison Chart

www.chicagotitleindy.com

*Deductibles apply. Disclaimer: This publication is to be used as a guideline only, as there are exceptions. It is designed to provide accurate and authoritative information in regard to the subject matter cov-

ered. It is distributed with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal or accounting advice or other expert assistance is required, the

services of a competent professional should be sought.

REPLACED BY 2008 POLICY

Disclaimer: This publication is to be used as a guideline only, as there are exceptions. It is designed to provide accurate and authoritative information in regard to the subject matter covered. It is distributed with the understanding that the

publisher is not engaged in rendering legal, accounting, or other professional service. If legal or accounting advice or other expert assistance is required, the services of a competent professional should be sought.

Overview of the 2008 Homeowner’s Policy:

� The 2008 Policy replaces the 1998 Policy and has more benefits to the

insured than did the 1998 Policy.

� While the 2008 Homeowner’s Policy has more benefits than the 2006 Owner’s Policy, the property must qualify for the 2008 Policy.

⇒ 2008 Homeowner’s Policy: To qualify, the property must be owner-occupied, zoned residential, and owned by an individual homeowner(s) or in a trust for estate planning purposes. These criteria are to be used only as a guideline as there are exceptions.

⇒ 2006 Owner’s Policy: This policy can be issued for land which does not qualify for the 2008 Homeowner’s Policy such as vacant land, commercial property, foreclosures, new construction, or property not owned by a natural person.

Explanation of 2008 Additional Coverages:

� Creditor’s Rights Coverage: There is now creditor’s rights coverage for fraudulent or preferential transfers in the chain of title. Coverage is also provided against a preferential transfer caused by the delayed recording of a mortgage to an insured lender. Currently, there is a 30-day window to record.

� Post-Policy Coverage (a/k/a Gap Coverage): Automatic coverage now exists against matters arising in the gap between the date of the policy and the date of recording except for real estate taxes and assessments.

� Increase in Insurance: If the insurer elects to litigate rather than settle and is not successful, the amount of insurance increases by 10%.

� Condemnation Actions: If a notice of condemnation has been recorded or the actual taking occurred prior to the policy date, there is coverage under the policy.

� Other Governmental Enforcement Actions: If a notice of a governmental action attempting to enforce an ordinance statute or regulation which describes the land is recorded, there is coverage under the policy.

The American Land Title

Association has promulgated

an updated homeowner’s

policy effective January 1,

2008. The 2008 ALTA pol-

icy is now listed as an option

on the 2009 Indiana Asso-

ciation of Realtors Purchase

Agreement. It is anticipated

that ALTA will withdraw the

1998 policy sometime in

2009.

New

2008 ALTA

Homeowner’s

Title Policy

Step 1:

Pending

As soon as a listing pends, fax or email us the following

items to initiate the title and closing process:

� Purchase Agreement & all Signed Counter Offers � Signed Listing Agreement � Seller’s Social Security Numbers, Mortgage Holders & Account Numbers � BLC Listing Sheet � Buyer’s Pre-Approval Letter containing all Lender Contact Information � Email addresses for Listing Agent, Selling Agent & Lender � Prior Title Policy (within last 5 years) to qualify for 20% re-issue rate

Step 2:

Scheduling

Once you receive the title commitment:

� Call or email your primary Chicago Title office to schedule the closing at the location of your choice

� Communicate any outstanding items with your Closing Team • Commission split changes • Repair bills • Inspection fees • HOA contact name and phone #

Step 3:

Closing

Advise your clients on the following items prior to closing:

� Bring valid photo I.D. � If bringing funds over $10,000, they must be in the form of a wire. Funds

less than $10,000 must be in the form of a wire, cashier’s check, certified check or personal check not to exceed $500.

� Show up 10 minutes early for the closing.

• Home Warranty amount • Estate Attorney info • Termite inspection • Sensitive issues between parties

Smooth and Successful Closing Items Needed for a

» residential rate schedule At Chicago Title, we make a positive

difference in our customer’s business

because we care enough to be the most

effective, professional and competent

title company in the Indianapolis

metropolitan area.

”

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Purchase Money Closing Fee ….…...…… $300.00

Cash Closing Fee ……………..………… $200.00

Simultaneous Loan Policy ……………….. $175.00

Deed Preparation …………...………...... $50.00

Mobile Closing Fee ………..….....…...…. No charge for the following counties: Ham-ilton, Hendricks, Johnson & Marion (Call for a quote in another county)

Recording Fees …………….………..…. $75.00 Estimated / Varies by County

Recording Service Fee……………....….. $25.00

Sales Disclosure……………………….... $25.00 Varies by County

Courier Fee ………………………...…... $25.00 per payoff/loan package

Wire Fee …………………….………… $25.00

E-Mail Loan Doc Fee ……………...…...... $25.00 per loan package

Survey ………….…………..………….... $140.00

Title Insurance Enforcement Fund Fee …... $5.00 per policy

Masters 6925 E 96th Street, Ste 100

Indianapolis, IN 46250

P: 317-570-8607

F: 317-570-8609

Avon 113 Creekstone Cove

Avon, IN 46123

P: 317-271-7750

F: 317-271-7856

Smith Valley 1642 W Smith Valley Rd, # B

Greenwood, IN 46142

P: 317-888-9797

F: 317-882-3243 Emerson 48 N Emerson, #200

Greenwood, IN 46143

P: 317-865-7340

F: 317-865-7384

Downtown 101 W Ohio St, # 2026 Indianapolis, IN 46204

Please contact your Chicago Title Business Consultant or Full Service Location to schedule a Downtown Closing

Carmel 11805 N Pennsylvania St

Carmel, IN 46032

P: 317-570-8607

F: 317-570-8609 Franklin 150 North Main St

Franklin, IN 46131

P: 317-888-9797

F: 317-882-3243

Full Service Locations

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Closing Rooms Only

CHICAGO TITLE

Service. Strength. Integrity. Technology.

Chicago Title (FNF)* is the industry leader when measuring financial strength. Our

reserve for claim losses of $1.4 billion is greater than any other title insurance

competitor. Additionally, Chicago Title (FNF) has a highly liquid investment portfolio of

$4.7 billion. Our earnings power provides another advantage. Chicago Title simply

provides an unrivaled level of security and protection.

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Indianapolis Area Locations