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UPDATE FROM ATG COMMERCIAL TITLE AND ESCROW:

ATG Expands Commercial Title Services for Agents

Experienced Staff, Online Resources 

"Real estate is a significant part of our practice, residential and large commercial transactions. We have knowledge and experience, but thanks to ATG, we have internal practices and resources in place that allow us to serve lenders and developers on any size deal. We interact with ATG on a regular basis...the level of hands-on service and personal attention is unmatched in this industry.... There's no such thing as a simple commercial deal, though some are less complicated than others. ATG gives us the format and the process."

As the economy improves, we are seeing a steady uptick in activity in commercial real estate. Are you prepared to get in on it? Making commercial transactions a part of your law practice can be a powerful strategy for your bottom line.

ATG is proud to announce that we've expanded the services available to ATG member agents who conduct commercial real estate transactions. We consolidated the Commercial Title Services, Construction Escrow, and Escrow Services departments and formed the Commercial Title and Escrow Department. Our new department supports and assists member agents by providing the services explained below. Be sure to click the Details link in each subheading.

Commercial Title Services | Details

Commercial Title and Escrow offers more competitive pricing and assists members handling commercial transactions by facilitating the preparation of title commitments and policies and providing for competitive pricing per thousand dollars of coverage. On transactions over one million dollars, ATG obtains reinsurance through First American Title Insurance Company under an automatic reinsurance agreement.

While our reinsurance agreement with First American has allowed ATG members to provide title insurance on larger transactions for many years, we recently established an agency arrangement with First American that allows us to be even more competitive for large commercial transactions. Through this relationship, ATG members write the title insurance with First American as the underwriter.

ATG is the agent and our member agents are the subagent. This process is implemented through our Commercial Title and Escrow Department. In this manner, ATG can almost always reduce its expense and improve the rate and split to the agent by placing the order through the ATG Commercial Department, which can then negotiate a reduced fee from First American on a facultative basis.

Commercial Title and Escrow staff will assist the member agent in the preparation of the title commitment, title clearance, creation of the settlement statement, and distribution of closing funds. The transaction closes in your office and usually disburses by wire through the First American account of ATG. The process is simple, efficient and more profitable for our ATG member agents. Commercial Title and Escrow assigns an attorney underwriter who handles the transaction from start to finish. That underwriter facilitates the transaction and becomes familiar with the property and the parties in the deal.

ATG Member Agents: See An Overview of ATG Commercial Transactions for more information. If you have an order above $1 million, contact Commercial Title and Escrow staff at 312.752.1988 or commercial@atgf.com for a lower rate bid on these transactions.

IMPORTANT - Indiana and Wisconsin Member Agents: Unlike in Illinois, ATG has filed rates for commercial policy premiums and endorsements for Indiana and Wisconsin transactions. There is no discretion on these rates. ATG agents must use the state-specific filed rates for transactions in Indiana and Wisconsin.

Escrow Services | Details

One of the duties of our Escrow Services staff is to disburse and maintain construction escrows throughout the State of Illinois. Our Wisconsin office handles the disbursement of the Wisconsin construction escrows. The ATG Board has determined that only member agents who are specifically approved to handle construction are able to disburse construction escrows directly. Most construction escrows should be disbursed through an ATG office using the ATG Construction Escrow Administrator.

ATG Member Agents: Contact Escrow Services at 312.752.1986 or escrow@atgf.com with any questions.

There will be more opportunities as the economy improves---we look forward to working with you to make 2014 your most profitable year yet!

Donna Gagliardo Kogut
ATG Vice President - Commercial Title and Escrow

[Last update: 2-14-14]

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