036: Title Insurance with Marie Kaczmarek and Phil Wiseman

Marie Kaczmarek and Phil Wiseman are my guests this week. Both are working in the Title Insurance space.

 

Introduction

Marie Kaczmarek is the Regional Manager of Chicago Title for Great Toronto – East . She has over 25 years’ experience as a professional conveyancer and law clerk in the Legal Industry. Chicago Title streamlines the real estate and mortgage process and provides comprehensive for both you and your chosen legal professional.

Phil Wiseman is the Regional Manager of FNF Canada. FNF Canada is a comprehensive and innovative provider of mortgage and loan-related services to Canadian financial institutions assisting it all aspects of the mortgage process.

They talk about everything Title Insurance, what it covers, why it’s essential, and what the costs are.

 

Key Points (Click the timecode to go to that part of the interview)

  • [6:40] What is Title Insurance?
    • Title Insurance protects the homeowner from events that happened prior to them taking over the title (buying the property/home).
    • The insurance also has a duty to the insured.
  • [8:00] Is the title just the deed to the property?
    • It is the deed and the story that comes with it.
  • [9:00] Title Insurance is one of the most important products you can get when buying a home. The value is paramount.
  • [13:40] How are Chicago Title and FNF connected?
    • They are owned by the same parent company out of the US.
    • Booth work along side each other to service all parts of the mortgage.
  • [15:35] A lender will not give out money without a Title Insurance.
  • [17:05] Why should someone use a broker service like FNF or Chicago Title instead of just going to an independent lawyer?
    • If you are doing a purchase, you have to go to a lawyer.
    • If it’s a refinance or a switch; that is an area we specialize in.
    • Our times are more convenient than many lawyers. We have signers who work in the office until 9 pm for instance.
  • [20:00] What would the costs be if done through a lawyer?
    • We can’t talk about what others charge but the survey alone would be $1500.
    • Compared to Title Insurance which is $400 covered for life.
  • [21:48] What does the $400 dollars cover?
    • Survey, taxes, utilities, and more.

 

Contact Chicago Title and FNF Canada

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