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The Title Report is the title insurance industry’s premier source of market intelligence on issues that matter to today’s title agent and settlement services professional. It provides up-to-the-minute, nationwide reporting on title insurance, settlement services, e-commerce and title technology, real estate market trends, fraud reports, ratings actions and earnings reports, mergers and acquisitions, niche markets, competitive business strategies and regulatory and legislative updates.
RynohLive has promoted its chief operating officer to president, while simultaneously announcing that the company’s founder and CEO will remain an active member of the company’s leadership team.
WFG National Title Insurance Co. has introduced a series of online transactional dashboards designed to keep consumers, Realtors and mortgage lenders updated on the status of real estate transactions during the settlement process.
After declining for two consecutive months, the nationwide percentage of refinance home loans increased slightly during July, according to Ellie Mae’s Origination Insight Report. During July, the average interest rate on a 30-year note dropped to its lowest level since January, and average closing times remained steady.
Lenders wanting to enroll in Fannie Mae’s validation service now can obtain the tax transcripts needed directly through Docutech.
Amtrust Title Insurance Co. has hired a former First American executive to grow its business in Texas and establish operations in New Mexico, Arizona and Nevada.
A new integration will increase the security of ordering title documents and shorten the time to close.
Pavaso and Greater Nevada Mortgage recently partnered to complete the first residential hybrid eClosings in Nevada’s history. Through Pavaso’s Digital Close platform, documents were electronically delivered to the homebuyers three days prior to closing, giving them time to review the documents online and ask questions prior to closing.
A new consultancy firm that promises to provide sustainable and repeatable methodology for title agents and service providers to access real estate agents has opened its doors.
A Texas title company started by a former FBI agent and which was one of the first computerized agencies in its region has been sold.
SYNRGO has hired an industry veteran to oversee its sales activities.
Customers using RamQuest’s Closing Market now can perform free Patriot Searches that utilize up to nine data sources.
AmTrust Title Insurance Co. has hired a senior underwriting counsel who will be based in New York City.
Title Alliance has nearly doubled its number of locations in Florida through a partnership with Keller Williams. The company has linked itself with two Keller Williams offices that have a top 10 market share in their counties and are among the fastest growing in terms of agents and transaction volume.
In a process that only took a few moments, Title Guaranty and Simplifile completed Hawaii’s first eRecording of a land court document on July 26, 2017.
Black Knight Financial Services has introduced a series of indices designed to provide insights into the housing and mortgage markets.
During May, the percentage of homes with mortgage loans 90 days or more past due dropped to its lowest level in nearly a decade.
Alliant National Title Insurance Co. has hired a former Stewart executive to oversee its Southeast Region.
WFG National Title Insurance Co. has completed its integration of Settlement Management Solutions’ title production platform. The new integration is available through the latest release of Settlement Management Solutions’ TitleExpress.
North Carolina has been at the forefront of eMortgage and eClosing transactions, and Thursday saw the state at the center of another milestone. Read on for details about the latest achievement, the principals involved in the transaction, and reaction from Brady & Kosofsky partner Jaime Kosofsky.
Driven by more transactions and rising home prices, Investors Title Co. produced the best second quarter in the company’s history. A dramatic decrease in losses helped the company offset a decrease in refinances and an increase in operating expenses.
The National Association of Realtors has thrown its support behind a bipartisan bill that would link some small business development centers with business owners who want to improve their cybersecurity efforts.
Fidelity National Title Group has hired an industry veteran to manage its operations in southern Florida.
During July, the share of Americans who said now is a good time to buy a house decreased to the lowest point in the history of Fannie Mae’s Home Purchase Sentiment Index.
Since the start of the second quarter, CSC has added 61 counties in 25 states to its eRecording network.
Realogy Holdings Corp.’s Title Resource Group helped the corporation post improved second quarter numbers. An increase in the number of title policies issued by the group plus the corporation’s higher average home sale price during the second quarter helped offset a dramatic decrease in refinances.
How do you grow your title company? Two industry experts discussed that topic during a session at the 2017 National Settlement Services Summit in San Antonio.
Mid America Mortgage has promoted its chief compliance officer and director of correspondent lending to chief operating officer. The new COO previously led the company’s efforts to help brokers make the successful transition to mortgage bankers through Mid America’s eCorrespondent division.
Home prices continued their upward spiral in June. However, home prices in at least four top markets are considered overvalued.
A private equity firm has signed a definitive agreement to become a major investor in Ten-X.
International Document Services has promoted its manager of development into its newly created position of manager of new product development.
Old Republic International Corp.’s title group achieved a new high in pretax operating income during the second quarter, helping the company post “relatively level” operating earnings for the quarter.
During the 2017 National Settlement Services Summit in San Antonio, two industry experts discussed the best strategies for honing your message to lenders and Realtors.
Pilgrim Title Insurance Co. has deployed a web-based digital closing system that it said is being used elsewhere in the country, but not in Rhode Island. The paperless system promises to make closing more convenient and secure, and to provide vital information such as mortgage rates and homes sold in the area to agents.
As volume has shifted from refinances to purchases, the percentage of mortgage loan applications containing defects, fraud and misrepresentation has increased.
Meridian Title Corp. has selected an industry veteran with experience in both real estate and banking and finance as its national operations manager.
For the 61st consecutive month, average home prices throughout the country experienced year-over-year growth.
Rep. French Hill (R-Ark.) spent 35 years in the banking industry, including nearly two decades as a community bank CEO. He’s become one of the title industries leading champions in Congress since being elected in 2014, and he recently talked with The Title Report about the latest updates to the TILA-RESPA Integrated Disclosure (TRID) rule.
A Massachusetts title company has selected an attorney who specializes in real estate conveyancing, title matters, short sale seller and buyer representation, contract negotiations and buyer representation of bank-owned properties to serve as its managing partner.
Since its initial public offering three years ago, Equity Bank has completed five mergers. Now, the bank has announced definitive merger agreements with two Oklahoma banks.
AmTrust Title Insurance Co. has hired an experience attorney to oversee its underwriting in the Garden State.
LenderLive has launched a new entity through which it will provide expanded compliance services to to banks, non-bank mortgage servicers, credit unions and other financial institutions.
The vice president of Weston Title & Escrow in Florida has been licensed in New York and now will provide title insurance services in the Empire State.
First American Financial Corp.’s title segment achieved its highest pretax margin ever, helping the company beat analysts’ expectations and improve its second-quarter results. The company said a shift to higher premium residential and commercial transactions helped it continue its earnings momentum despite a drop in refinances.
LenderLive has hired two executives from EverBank to serve as its CEO and chief operating officer. The two executives are credited with transforming EverBank from a mortgage company into a nationwide, diversified financial services company.
A former ALTA director has launched a company that will assist title companies and other small businesses with branding, marketing and crisis communication. One of the services offered by the new company is an assessment of a small business’ digital outreach and recommendations on how to improve it.
Despite a decline in housing starts that is adding to the nationwide inventory shortage, Freddie Mac is predicting the market will continue its growth through 2017.
Westcor has added a commercial counsel who developed a program and curriculum to improve the practices of hundreds of agent businesses.
Lone Star Title of El Paso has hired a former consultant for WFG National Title Co. as a vice president. Read on for more details.
Kensington Vanguard National Land Services has opened a new office in Palm Beach County, from which it plans to target the Boca Raton market. It also selected an industry veteran to supervise the new office and develop new business opportunities.
AmTrust Financial Services has hired an insurance industry veteran from reinsurer PartnerRe to develop and implement its global strategic framework. The newest member of the company’s executive team will be based in New York and will report to Chairman and CEO Barry Zyskind.
KeyStoneB2B has introduced a new title product that facilitates the title order, title close, and borrower and seller closing disclosure during the mortgage lending process.
Homeowners who sold during this year’s second quarter realized the highest average price gain since 2007, according to ATTOM Data Solutions. Read on for more details.
A Garden State title company that serves Atlantic and Cape May counties has added a vice president of business development. Read on for more details.
Cloudstar has hired a senior ResWare administrator who has more than 20 years of experience in the title and escrow industry.
A little more than a year after acquiring another CRM company, Fidelity has added Dallas-based Real Geeks to its holdings. Chairman William P. Foley II said the two companies complement each other as one concentrates on elite real estate teams and the other on single agents at lower price points.
Driven by a double-digit increase in commercial revenues, Stewart posted a small gain in total title revenue for the second quarter.
Two New Jersey-based title companies have merged. The combined entity will have more than 140 employees and 14 locations, with the ability to process, insure and close over 1,800 transactions per month.
Foreclosure-related filings during the first six months of 2017 dropped significantly, according to ATTOM Data Solutions.
Old Republic has promoted one if its own to senior vice president. Read on for more details.
First American Title has opened a new branch in Colorado and hired an industry veteran to oversee it.
An increase in title revenues boosted the second-quarter results for Fidelity’s FNF Group, with the title business generating its largest quarterly adjusted pre-tax title earnings since 2003.
The future of the mortgage application process — one in which most of the procedure is electronic and paperless — is clearly visible. Lenders who are already navigating those waters shared their insights during the 2017 National Settlement Services Summit (NS3) in San Antonio.
Both the number of building permits issued and housing starts rose in June, according to the Census Bureau.
Old Republic has appointed a senior vice president who has been with the company since 2000.
Starting in September, New York-based US Mortgage Corp. will switch from Intuit Quickbooks to Loan Vision’s accounting software for mortgage banks.
Stewart has acquired the retail branch division of Title365 — two months after bringing that company’s co-founder and CEO onboard as a senior vice president.
The National Association of Independent Land Title Agents has formally adopted enforceable ethical standards of conduct for its members, the organization announced.
Weichert Title Group’s new president previously held senior management positions with both First American and Fidelity National Title and has more than two decades of experience in the residential title industry.
According to CoreLogic, home prices showed strong year-over-year increases during May.
RamQuest has created a Customer Experience Team and hired a director to oversee it.
Ascendant Title has expanded its operations in Colorado by taking over two offices in Boulder and Fort Collins which were previously owned by Kensington Vanguard.
ALTA’s market share analysis found that title insurance premiums rose nearly 11 percent during the first quarter of 2017.
A law firm that has provided title services for nearly a decade has started an independent title company. Based in Colleyville, Texas, the new company’s underwriters include Fidelity National Title, Chicago Title, Alamo Title and Commonwealth Land Title.
A new integration will enable First National Title Insurance Co.’s agents to generate the company’s policy jackets and closing protection letters directly through RamQuest’s Closing Market platform.
CATIC announced that it has received a positive SOC 2 report verifying the company’s critical controls are effectively designed to manage the security and confidentiality of its data.
First American Title Co. has hired a vice president who will manage its branch in Burley, Idaho.
Advanced Title Co. in Grand Junction, Colo. has named a transaction coordinator and an administrative assistant.
Throughout many areas of the country, low home inventories have contributed to an increase in home prices. However, many in the industry are concerned that many homebuyers will soon be priced out of the market, especially in places such as Boston and San Francisco, according to the Federal Reserve’s latest Beige Book.
Now that the ink has dried on the Consumer Financial Protection Bureau’s finalized updates to its TILA-RESPA Integrated Disclosure (TRID) rule, more and more industry insiders are beginning to weigh in.
ACES Risk Management has selected a president to oversee all company operations, including expanding its audit technology platform. The company’s new president has been in the mortgage industry for 25 years, and has held numerous executive positions with mortgage lenders and mortgage technology providers.
The frequency of defects, fraud and misrepresentation submitted in mortgage loan applications during May reached its highest level since 2015.
RamQuest, Inc. has announced a vendor relationship that will allow it to offer ProcessFast’s SaaS operational reporting solution to its customers.
Cascade’s business agreement with LoanScorecard will enable the financial services firm to automate underwriting its portfolio loans and manage exceptions based on valid compensating loan factors.
Severn Bancorp has entered into a definitive agreement to purchase a Maryland title company that is based in Annapolis and was founded by real estate attorneys in 1981. The acquisition is subject to the completion of due diligence and is expected to close in September.
Landmark Title Assurance Agency has hired a former Old Republic executive to oversee its business development, expand operations and manage the company’s escrow officers.
Former Federal Housing Finance Administration Director James Lockhart, currently vice chairman at WL Ross & Co., offered his thoughts on reforming the secondary mortgage market and how that market is being impacted by compliance concerns.
Over 40 million Americans have tappable equity available in their homes today, which is the largest population on record, according to Black Knight Financial Services.
A county in Mississippi recently installed ePN’s DocRouter Solution and can now accept electronically submitted documents.
ACES Risk Management has incorporated the parameters set by Fannie Mae’s Day 1 Certainty initiative into its audit technology.
Title Resource Group has aligned its commercial title operations in 40 markets into one division and named a president to oversee those operations.
ET Investments has purchased an ownership stake in Thomas Title & Escrow. Both companies believe the partnership will help Thomas expand its commercial services platform and become even more of a national player in that arena.
Orange Coast Title Co. has selected a vice president and senior underwriter. The newest member of its senior management team will oversee the company’s title insurance entity, Real Advantage Title Insurance Company.
SLK Global Solutions has introduced a technology-based platform that brings appraisal management companies, default servicers and real estate brokers together.
According to Fannie Mae, the share of Americans who believe now is a good time to buy or sell a home increased during June.
Fidelity National Timeshare has named a senior title officer who will be based in California.
In an attempt to provide greater clarity and certainty, the Consumer Financial Protection Bureau on Friday finalized updates to its TILA-RESPA Integrated Disclosure rule, the so-called “Know Before You Owe” mortgage disclosure.
The well-known CEO of HomeServices of America Inc.’s real estate brokerage division is retiring after more than three decades in the industry.
Old Republic Title has launched a new website that promotes comprehensive closing services to lenders and standard notary services to title agents offered through OR SigningPro.
Sometimes, it’s the little things that have a big impact on the ability to grow a successful business. The 2017 National Settlement Services Summit in San Antonio brought many industry veterans in to speak on how businesses can grow and move forward.