Welcome to the 2nd quarter of the CEA News for 2010. Intellectually the amount of time is always the same, however I can only say the time seems to accelerate when there are more things which need to be done in a given period of time.

Because we need to keep our members informed as to how we are spending our time in service to you, this is a report on how we are progressing. My report will be an overview. For specifics, be sure to read the articles submitted by the different committees.

The Membership Committee is “the engine which pulls the train” so to speak and Judy Cook as the Portfolio Chair and Tracy White as the Committee Chair are fearlessly trying different ways to generate interest for new and previous members. Tracy, with the help of other CEA board members, reached out to the presidents of all the regions and now these have a communication line going among the presidents as to what is happening in each of the regions across the state. Tracy also tested the thought process of charging members a significant member discount for a seminar and offset the cost reduction by increasing the cost for non members. It proved to be as successful as Tracy had hoped. Tracy reported at the CEA directors meeting, her region earned more than sufficient income to stabilize the 2010 regional budget. The better news is the Long Beach Escrow Association has sufficient funds to reward their member who brings in the most new members with an October Conference registration fee. The best news is that the Long Beach Escrow Association, as a result of their seminar, added 10 new member prospects, who either actually completed the membership application for 2010 or committed to become members in 2010.

Our Professional Designation Committee, headed by Linda Hamilton, Portfolio Chair and Committee Chair, Sammy Simpson, implemented a reduced exam fee to past PD holders who, for whatever reason, allowed their PD credentials to lapse. The good news is there are former PD holders who have signed up to take the test and become an active PD holder. The committee is working very hard to reach out to those members who have an interest in obtaining their PD and are willing to work with the members to help them reach their goal. What is the value of a PD? Now, not only is it the satisfaction of having earned a PD, much like a person going on to graduate school education, but it was reported at the meeting that one of our unemployed escrow professionals was able to secure her new position specifically because she is a PD holder. More good reasons to have a PD. It was also reported that a large company is paying a higher rate of incentive on closed escrows to those escrow officers who have their PD.

Your CEA Headquarters is working on updating our Web site in order to accommodate a new service to our members. It is one of my goals to establish a volunteer group of “go to experts” who specialize in specific types of escrows. When called upon by a member, an “expert” will be able to assist the member regarding escrow procedural questions on a specific type of escrow or direct them where they will be able to obtain the information they seek. In addition, your Executive Board at CEA has set up an ad hoc committee to establish the guidelines for the volunteer “go to experts” as well as the types of information which can be given.

Your CEA News Committee, headed by Marilynne McDuffey, portfolio chair and Anita Rubeck as the committee chair, lets no grass grow under their feet. Sitting in the meeting, I heard many ideas coming forth from the committee as to content and watched the culling process so you, the members, get the best possible information. They have great articles in this issue of CEA News and already had compiled a good portion for your next CEA News.

To support our members with the best there is, we recognize it is extremely important to reach out and work with the affiliated real estate industry’s trade organizations. Due to the hard work of Lexi Howard, Legislative Portfolio Chair and Mike Belote, your Legislative Advocate, we have established a close working relationship with CLTA. Also, Dave Shean has been in contact over the years with CAR. With the new CAR Real Estate Purchase Contract and Joint Escrow Instructions, CAR set up a conference call with CEA and CLTA on April 15th in order for us to share our concerns regarding certain provisions and language in the new purchase contract which affects the escrow holder and title insurer. Both CLTA and CAR went over those items which we had questions and discussion ensued as to what type of corrections needed to be made. Although there were no changes made to the items which concern us due to imminent release of the new form, Neil Kalin, Legal Counsel for CAR, assured all of us on the call we would be notified and involved on future changes to the contract which affects the duties and time frames of the escrow holder. He also stated we would be notified in a time frame which would allow changes, if approved by CAR, before it goes to the final format. Neil then requested we submit by e-mail, not only the concerns we addressed on the call, but any other ones as well. As to the Escrow Institute, I am attending the EIC Conference in Temecula on April 24th and 25th. I will be reporting on the EIC Conference after it is completed.

For those of you who have not been on the CEA Web site (www.ceaescrow.org), there is some excellent material from Forms and Practices Portfolio Chair, Lexi Howard and Committee Chair Genia Engelstad. In fact, the 59 page packet which was shared at the CEA Directors meeting is on the Web site in the Forms and Practices area.

Winding up, we are having elections for your Officers and Portfolio Chairs at the August Director’s meeting. Now is the time for all of you to think about how you might want to be a CEA Director from your region. It really is exciting to be on the “cutting edge” of what is happening in our world of escrow. That is exactly what it feels like at a CEA Board of Directors meeting!

Donna Grosso, CEI, CSEO
2010 CEA President