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This is Fred Ball for Zions Bank, speaking on business.
The first case of insurance is said to have originated in Babylonia and was used to protect trade. Soon the idea of insurance caught on and quickly spread to the Greek and Roman empires and has continued to evolve to this day. From people, homes, cars, office buildings and jewelry, to a dancer's legs, or even a pianist's fingers, insurance can protect just about any asset, including real estate titles.
I talked with Gary Packer, manager of Security Title's commercial division, who told me that for more than 60 years, Security Title Insurance Agency of Utah has been helping modern day lenders and borrowers with their title insurance and escrow needs.
To further meet these needs, in 2002 Security Title opened its commercial division in Salt Lake City. Gary tells me this new division of Security Title has an underwriter on staff so decisions can be made both locally and quickly.
In addition, this division has escrow and title officers dedicated to serving commercial clients. This allows Security Title to quickly provide title reports to banks, reducing the time between applying for and closing a commercial loan. Unlike other title companies Security Title has two national underwriters, First American and Fidelity National, the nation's two largest title insurance underwriters.
Security Title also provides educational classes for its lender clients. Gary, who is a state certified teacher, tells me he enjoys instructing these classes and helping those just starting out. You see, he remembers being a young mortgage banker in Brigham City when his title agent, Clark Hillam, took him under his wing to train him in title insurance and real estate. Gary later bought Hillam Abstract from his mentor and managed it for 15 years. He tells me he now tries to show the same care to his lender clients that he was shown years ago by his title agent.
For Zions Bank, I'm Fred Ball. I'm speaking on business.