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Title insurance is a one-time charge paid at the time of closing. It covers your right and legal ownership to your house or land that you have purchased against liens. Josie Anderson, VP of Marketing at Valero Title - the only title company in Texas that offers zero escrow on all products - discusses the importance of having title insurance from a lender's perspective. She also walks us through the company and what the title insurance cover, as well as touches on T19, title commitments, and more.
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Listen to the podcast here:

Title Insurance Explained with Josie Anderson
Why Title Insurance Is So Important
You'll hear my guest, Josie Anderson, talk about putting a class together which we did. I want to thank her for coming on the show and helping to put the class together. What's the class about? It's all about title insurance. I was going to say I finally found somebody but truthfully, I finally made it a priority to bring somebody on the show to speak about title insurance from a lender's perspective. A lot of people think as long as they get a title commitment, it's fine. I can get a title. There are exceptions. There are things title policies don't cover. This is going to be an intro into that. I like it because it's somebody else who is talking about it. Hopefully, I ask the right questions for everyone in the audience. Let's go ahead and get to the interview with Josie Anderson from Valero Title.
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Lender Nation, I am proud to have Josie Anderson on the show. Josie is with Valero Title. I have been chomping at the bit to have somebody from a title company come on and talk about title insurance in the process. Josie, welcome and thank you for coming on the show.

Thanks for having me.

I know you're not an escrow officer yourself. You're the VP of marketing. By proxy, you have a PhD in the title process. Walk us through your company Valero Title.

Valero Title is all over Texas. We have an office in Houston, Dallas, Austin, and San Antonio. We're the only title company in Texas that offers a zero escrow on all products. Whether it be both sides of your contracts, cash out, rate and term revise, whatever it may be, no junk fees. We don't have courier fees. A lot of title companies have the eFile fee as much as $450 to $500. I was telling people, "That's an email." They're charging as much as $500. The other thing we offer is complimentary mobile notary on anything over $50,000.

You're investor-friendly. No escrow fees, no junk fees, and the complimentary mobile notary is a lifesaver. As a lender, we usually don't get involved in the closing. As an investor, when someone shows up to the office and all I have to do is sign a few docs, it removes the friction out of my day. That is a great service. You're already established. You're in Texas. Are you in any other states or just Texas?

We do have a sister company in Fort Lauderdale, Florida. That's a whole other territory. They cover anything outside of Texas.

Any reason you’re Texas-specific than everything else?

Texas is amazing. Our owner is born and raised in Texas. He's a UT guy. He opened the first office in Florida and knew he wanted to get back to Texas. We've been in business in Texas for several years.



 

Title insurance is something I demand on any of my loans. A good relationship with the title company is you’ve got to have one on your team. It doesn't matter for me as a lender what title company closes the transaction as long as they are licensed with the Texas Department of Insurance. Their policies are like everybody else's. As long as everything is above board, I don't have a problem. I do have preferences with using certain title companies. You can call somebody, "I've never heard of this. This is an oddball thing.