Britney Maddux, CEO of Omni Title and Escrow, is passionate about educating homebuyers, sellers, real estate professionals, builders and lenders about the importance of owner’s title insurance for homeowners. Title insurance is required to protect the lender from problems regarding the ownership of the property, but owner insurance is optional. “Often the buyer wants to save money and passes up the opportunity for coverage,” Maddux says.
Omni Title opened in 2013. “I was asked to join the company as CEO in 2016,” says Maddux. She has a degree in business administration from Christopher Newport University and a law degree from University of Virginia.
Maddux was a lawyer with a prominent Newport News legal office prior to joining Omni Title. Maddux has recently set up a separate law office (Maddux Law, PLLC) with a full-time lawyer on staff in her office complex. The office staff includes a closer and a processor/paralegal. Both have more than 20 years of experience. In addition to the employee offices, there are two conference rooms that are available for closings and other uses by outsiders. And, there is a training room.
Maddux offers seminars on or off site. She is available for presentations at real estate or lender offices. “These professionals usually have the first contact with potential buyers. It is important to keep them advised of the continuing changes in the laws,” says Maddux.
Omni’s website lists upcoming classes such as New Agent Training (for Realtors), Real Estate and Divorce, Deed and Entities, and Estates/Wills/Trusts. There are information sheets on specific topics available in the company office. The website is also very educational.
The escrow agent’s job begins with a ratified sales contract provided by the real estate agent. The escrow agent’s duties include research, locating missing documents, providing policies to protect the new owner, managing funds and documents per provisions in the contract, paying bills, distributing funds and closing when all terms are met. The escrow agent acts as a neutral third party. “It is important to keep everyone who is involved informed every step of the way,” Maddux says.
When asked about distinguishing her company amid so much competition, Maddux replies, “I am confident that our emphasis on education, in addition to good service, will serve to make us stand out.” A number of client testimonials appear on the web page. Maddux has goals for the business and speaks of “going global” in the future. She is also working on an expansion to include two other title companies. Client closings currently span from Richmond to Virginia Beach. She is willing to travel to “remote” closings and has even used Skype.
With lower interest rates, the pattern of end-of-month closings to reduce the interest cost for the initial loan payment has changed. Moving closing dates to other days of the month has lessened last-minute pressure (and mistakes).
Maddux is continuously investigating new technology and upgrades. “I am always learning,” she says.
Recently Maddux began holding weekly after-hour “Roundtables” for discussions with other professionals about current relevant issues. “There is no assigned topic,” she says. “I usually open the discussion by asking, ‘What’s new?’ or ‘What problems have you had this week?’ There’s always something!”
Maddux receives a lot of support from family. Her father is retired and works for her when needed. Her mother speaks Spanish and helps with language assistance. “They work overtime too,” she adds with a smile. Maddux’s father was in the military and she was born in Vicenza, Italy. “We left when I was four years old, and I have always wanted to go back.”
Maddux has been married a little over a year. She has known her husband since childhood. “His sister used to babysit me,” she says with a laugh. “We knew each other all through school but never dated.” They lost touch during college days and a chance meeting in a Hampton restaurant reconnected them.
Maddux enjoyed gymnastics and cheerleading during her school years. She participated in gymnastics for about 12 years. In high school and college she was captain of the cheerleading squad. Now she focuses on modern dance/jazz. She participates in competitions, featuring choreographed routines. “It provides balance in my life,” she says.
She has found that balance. She works hard to ensure that her clients come first.
“It is my company’s responsibility to show value and to be sure the buyer makes an informed decision. I appreciate the trust my clients place in me,” Maddux says.
TO THE POINT:
Omni Title and Escrow, LLC
Address: 739 Thimble Shoals Blvd., Bldg. 800, Ste. 805 Newport News VA 23606
Contact: Britney Maddux, CEO