In this episode of Lykken on Lending we have 2 guests in our Hot Topic segment: Liz Gilchrist Kelly is the Director of Research for Ernst Fee Service at Black Knight, and Jan Dalton Clark who leads sales and marketing operations for the Ernst Fee Service product at Black Knight.
The growing trend of localized and graduated and otherwise hyper-specific tax transfer rates represents both a significant financial risk to lenders as well as an incredible operational challenge. A single mistake could cost a lender tens of thousands of dollars in fee cures at closing – hundreds of thousands in some large metros.
Our Hot Topic Guests:
Liz Gilchrist Kelly is the Director of Research for Ernst Fee Service at Black Knight. Over her 30 year career working in the public records industry, she has spent 18 with Ernst. Her data management experience includes all stages of real estate document recording, with subject matter expertise for deed/mortgage taxes and fees for all 3,600 recording jurisdictions. She currently holds the position of Business Membership Committee Co-Chair for PRIA, the Property Records Industry Association. She has been a member of PRIA for over 10 years and has twice co-chaired the PRIA Conference.
Jan Dalton Clark is Senior Vice President of Sales & Marketing for Ernst Fee Service at Black Knight.
Having joined Ernst in 2003, Jan has successfully positioned Ernst as a leading critical data provider within today’s financial industry, supplying over 95% of the top industry lenders and title companies. Jan’s background also includes nearly twenty years of experience in the public record industry with a recognized expertise in law enforcement applications. Jan’s achievements include commendations from the Federal Bureau of Investigations, U.S. Department of Treasury, U.S. Customs, U.S. Drug Enforcement Association, Internal Revenue Service Criminal Investigations, NASA’s Office of the Inspector General and FINCEN for her work with public records applications in law enforcement investigations. She was recently named one of HousingWire’s 2019 Woman of Influence.
Topics Covered in this Episode:
- Trends to watch with regard to property transfer taxes,
- Challenges, losses, and risks faced by lenders in this area,
- What lenders should do to protect against these losses and stay on top of changes.
The first half of the Lykken on Lending program will feature our Weekly Updates: we’ve got Rob VanRaaphorst with his MBA Mortgage Minute, and then Les Parker’s TMSpotlight, a macroeconomic perspective on the economy with a music parody. That leads to Joe Farr providing you a rate & market update, followed by Alice Alvey of Union Home providing a regulatory & legislative update,Allen Pollack giving us a Tech Report of the latest technology impacting our industry and then we wrap up the first half the program with Dr. Andy Schell: aka Doctor Schell the Profit Doctor sharing ideas on how to improve your bottom line.