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Stewart Information Services Corp. reported its results for the first quarter of 2015. CEO Matthew Morris said in terms of title revenue, Stewart experienced higher transaction volume in the first quarter of 2015 compared with a year ago. Read on to learn more about Stewart’s performance.
eLynx released Expedite ID, a compliance solution fulfilling lenders’ requirements for complying with the CFPB’s TILA/RESPA Integrated Disclosures (TRID) rule on Aug. 1, 2015. The solution will allow lenders and settlement service agents to share information in compliance with TRID. Keep reading to learn more.
SunTrust announced its plan to comply with new regulations effective Aug. 1, 2015. How will the Atlanta-based lender handle the Closing Disclosure? Keep reading to learn more.
Stewart Title acquired a majority interest in First Ohio Title Insurance Agency. Ohio Division President David Martin said the acquisition is evidence of the company’s commitment to the state’s dynamic real estate market. Read on to learn more.
Finding the right way to market directly to consumers might seem difficult for agents who are not used to the process. With the industry set to change the way closings are conducted beginning Aug. 1, reaching out to consumers could open new business avenues for title agents. Read on for the details.
White Mountains has announced a major investment in OneTitle and will take a minority stake in the company. OneTitle President and CEO Daniel Price talked with The Title Report about the benefits of the deal. Read on to learn more.
Old Republic reported its results for the first quarter of 2015. The company’s announcement credits the improvement to a much-improved performance from the basic underwriting and related services functions of the business. Keep reading to learn more about the company’s performance.
DocMagic launched a new solution to bring lenders and settlement providers together inside a secure and collaborative portal to view and exchange fee data prior to closing. The platform was designed to meet TRID requirements. Keep reading to learn more.
Fannie Mae‘s first quarter economic analysis shows that some economic growth measures downsized, but it is still forecasting 2.8 percent growth in 2015. Read on to learn more.
Existing-home sales jumped in March to their highest annual rate in 18 months, while unsold inventory showed needed improvement, according to the National Association of Realtors. Led by the Midwest, all major regions experienced strong sales gains in March and are above their year-over-year sales pace. Read on for more details.
Accurate Group, a provider of real estate appraisal, title and compliance services, hired two former executives from the FirstMerit Title Agency that recently was closed. Read on to learn who.
First American Financial released its earnings report for the first quarter of 2015. Total revenue for the quarter was $1.1 billion, an increase of 10 percent from the first quarter of 2014. Read on to learn how the second largest title insurance underwriter performed.
According to the U.S. Home Equity & Underwater Report released by RealtyTrac, the share of seriously underwater homes increased in the first quarter of 2015 for the first time since the second quarter of 2012. Vice President Daren Blomquist said the end of 2014 saw the lowest share of these properties since RealtyTrac began tracking this data. Read to learn what happened.
The Surry County, North Carolina, register of deeds’ office now is accepting electronic documents for recording through Simplifile. The county’s Register of Deeds Carolyn Comer said eRecording is a benefit to all involved in the land records industry. Read on to learn more.
In the last of our three-part series on the performance of the title insurance industry in 2014, this week’s analysis comes from Fitch Inc. The company looks into the ups and downs of the Big Four in 2014. Read on to see what they believe see for the industry in the rest of 2015.
First Nationwide has grown its legal team to 13 members in a short amount of time. Keep reading to learn more about the company’s latest additions.
Alliant National Title Insurance Co.’s chief compliance officer earned a coveted certification from the American Society of Quality. He said it was a great honor to receive this certification. Read on to learn more.
Title agents who are looking for a renewed sales and marketing approach might find that their target audience has changed. With a heightened focus on education and knowledge in the closing process, new strategies could pay dividends for title agents. Read on to see what might be best for you.
Greg Wright, president of The Wright Track Consulting Group will be presenting at the National Settlement Services Summit (NS3) at 11:30 a.m. June 10 in Atlanta, Ga. Keep reading to learn more about him.
RamQuest released Complete Closing version 8.0. The release delivers its Closing Disclosure solution and meets the requirements of CFPB TILA-RESPA. Keep reading to learn more.
Joe Grabas, founder of Investors Title Agency, recently sat down with The Title Report about his plans and the importance of education in the title insurance industry. He has been traveling around his home state of New Jersey teaching classes to agents, lawyers and Realtors. Keep reading to learn more.
Survey data collected from investors bidding on property online and at live events across the country revealed that the flipping trend seen throughout the fourth quarter of 2014 still is going strong. It is building momentum in nearly every market surveyed, according to Auction.com. Keep reading to learn more.
The National Notary Association is offering its third annual complimentary notary training for veterans. The training will coincide with Notary Public Week in Orlando, Fla. Read on to learn more.
In honor of Earth Day, RealtyTrac wanted to find out where the most Earth-friendly counties resided. Analyzing various datasets including percent of good air quality days, the percent of people who walk to work, and then the best counties based on affordability. Read on to learn more.
October Research, LLC CEO and Publisher Erica Meyer had a chance to get up close with the new Closing Disclosure forms and process at the SoftPro User Group Conference. Agents in attendance came away with a first-hand look at SoftPro and Closing Insight’s new systems, as well as some valuable information about how the closing process will look after Aug. 1. Read on for all the key insights from the conference.
A recent enforcement action by the Consumer Financial Protection Bureau might not have seemed that significant. But it’s what the bureau said about the responsibilities third parties had to protect consumers and stop fraud that can affect title agents. Read on to find out what the CFPB said third parties didn’t do, or should have done, in this case.
The Mortgage Bankers Association’s David Motley testified before the U.S. Senate Committee on Bank, Housing and Urban Affairs during the hearing, “Regulatory Burdens to Obtaining Mortgage Credit.” He said although the MBA commends the bureau for many of their accomplishments, there are unintended consequences to the regulation that need to be addressed. Keep reading to learn more.
Fidelity National Title Group promoted a new manager for its FNT and Chicago Title commercial operations in Philadelphia. Read on to learn more about him.
Auction.com, LLC released its ranking of the hottest major single-family housing markets based on current and expected future housing fundamentals. According to the report, the strongest U.S. region overall has remained the same. Read on to learn more.
First quarter U.S. foreclosure activity dropped to its lowest quarterly level in eight years despite an increase in March. The states with the highest foreclosure rates were Florida, Maryland, Nevada, Illinois and New Jersey. Keep reading to learn more.
First International Title of Jupiter added a senior escrow officer/title agent to its staff. Keep reading to learn more.
Fannie Mae launched its HomePath Ready Buyer program, qualifying first-time homebuyers to receive assistance toward the purchase of a HomePath property. Read on to learn more.
Simplifile completed the SOC 2 Type II audit and expanded into its 60th county in Missouri. Keep reading to learn more about this company’s announcements.
Title Alliance appointed a regional director for its Maryland and Virginia region. He will oversee the settlement staff, assure the operations are in compliance with regulatory issues as well as develop, mentor and train the office managers. Keep reading to learn more.
Continuing our three-part series on the performance of the title insurance industry in 2014, this week’s analysis comes from Demotech Inc. Read on to see what their analysts believe about the strength of the industry last year and heading into 2015.
The House Financial Services Committee held a hearing entitled, “Examining Regulatory Burdens on Non-Depository Financial Institutions.” Among the witnesses was the American Land Title Association’s President Diane Evans NTP. Read on to learn more about the hearing.
Residential real estate activity was steady to improving across most districts, according to the April 15 Beige Book released by the Board of Governors of the Federal Reserve System. Multifamily construction remains strong and there was improvement in loan demand. Keep reading to see what the Beige Book has to say about the housing and banking industries.
Federal Trade Commission Commissioner Julie Bill recently addressed data security for companies and researchers working with big data. She said the agency was focus on ensuring that companies that collect and research data are doing everything they can to secure sensitive information. Read on for the details.
Brady & Kosofsky, PA successfully completed a SSAE 16 SOC 2 Type 1 audit certification. The certification included the company's controls related, among other things, to the Trust Services Principles and Criteria of Security and Availability. Read on to learn more.
RealtyTrac’s Residential Rental Property Analysis found that monthly house payments on median-priced homes are more affordable than the monthly fair market rent on a three-bedroom property in 76 percent of the U.S. counties included in the analysis. Keep reading to learn more.
CoreLogic released its February 2015 National Foreclosure Report. It shows that the foreclosure inventory declined by 27.3 percent, and completed foreclosures declined by 15.7 percent from February 2014. Keep reading to learn more.
After LandAmerica Financial Group and its 1031 exchange subsidiary filed for bankruptcy in 2008, employees filed suit under the Employee Retirement Income Security Act, alleging several of the company’s directors and officers violated their fiduciary duties by allowing investment of LandAmerica Financial Group Employee Savings and Stock Ownership Plan assets in LandAmerica stock when they knew those investments would lose money. After a lengthy court process and settlement negotiations, the parties have reached a settlement.
The title insurance industry is facing a tremendous amount of technological and regulatory changes. The Title Report asked three industry professionals if the industry still provided an opportunity to incoming professionals. Marianne Mathieu, vice president and agency business advisor for Fidelity; Amy Kelly, president and senior counsel of The Seaport Title Agency Ltd. and Jean Partridge, co-founder and a principal of Benchmark Title Agency, LLC offered their thoughts. Read on to learn more.
As the Aug. 1 compliance date for the TILA-RESPA Integrated Disclosure rules near, more lenders are considering changing their loan origination software, meaning changes for the title agents who will need to connect to the technology to work with lenders. One regional bank in Michigan said it will make the switch to Encompass software. Read on for the details.
Demotech assigned Financial Stability Ratings to two title insurers. Read on to learn how they performed.
Title Alliance appointed a company leader to the position as controller based out of its Media, Pa., headquarters. CFO and Director of Title Alliance Lillian M. ReDavid said his experience and expertise should make the transition seamless. Keep reading to learn more.
CoreLogic released its February 2015 CoreLogic Home Price Index. It showed that home prices nationwide, including distresses sales, increased by 5.6 percent in February 2015 compared with February 2014. Read on to see the other performance markers.
The most recent economic news showed a slowdown in hiring in March. But for the title industry, there is some good news amongst the sluggishness. Read on to find out how the report could boost the refinance market.
With 2014 in the rear-view mirror, The Title Report asked national rating agencies to provide a look at the title insurance industry today, specifically at the Big Four, to determine the health of the industry. This is the first of a three-part series analyzing the performance. Read on for A.M. Best's take on title insurance.
Will the Consumer Financial Protection Bureau issue a restrained enforcement period after Aug. 1, to allow the industry to comply with the TILA-RESPA Integrated Disclosure rule? One agency already said it will consider “good faith efforts” for compliance, but is the bureau ready to publicly state the same?
RealtyTrac, added an Internet expert to lead its Consumer Solutions department. He is tasked with expanding the company’s suite of consumer products while increasing consumer awareness and demand. Keep reading to learn more.
Black Knight’s February Mortgage Monitor reported 7.1 million borrowers could benefit from a refinance. That number could decline as rate climbs, however. Keep reading to learn more.
A diverse group of housing industry stakeholders participated in a credit access symposium. There they discussed how alternative credit scoring models could expand access to mortgage credit for responsible borrowers who may have thin credit histories or extenuating circumstances such as medical debts. Read on to learn more.
RedVision named two people to top sales and operations leadership positions. The new appointments will support business growth and operation excellence. Keep reading to learn more.
Alliant National Title Insurance Co. named a new senior vice president and regional underwriting counsel. He will offer customizable solutions and education on the nuances within specific regional markets. Read on to learn more.
Richey May & Co. released its fourth quarter 2014 Trend Report for Independent Mortgage Bankers. It includes the operating results of more than 40 independent mortgage companies covering all operating models and production volumes. Read on to learn more.
The Florida Agency Network has named a new chief operating officer. He is charged with growing the company’s statewide footprint. Read on to learn more about the new executive.
eNotarizations have been said to be the key to the eClosing process. In order to have an entirely electronic transaction, it is necessary, but without a national standard in place the adoption needed to propel eClosings has been uneven. The Title Report spoke with several experts about this part of electronic process.
Prominent lenders have announced they are integrating with Closing Insight, a new technology being developed by RealEC Technologies (RealEC), a division of Black Knight Financial Services. Closing Insight is an integrated set of services that automates and streamlines the complex multi-party closing process, delivers a number of process improvements, and help lenders meet their compliance obligations with Consumer Financial Protection Bureau (CFPB) Integrated Disclosure rule.
The latest analysis from RealtyTrac discussed home prices in February. Prices have continued to rise through January. Read on to see whether home prices continued to climb nationwide in February.
North American Title Insurance Co. has hired a new director to be based out of the company’s headquarters in Miami. The industry veteran has more than 20 years of experience. Read on for the details.
A provider of automated deposit and asset verifications announced that its report will be accepted by Wells Fargo. The lender made the announced in a recent bulletin. Read on for the details.
Baird & Warner real estate brokerage kicked off its 160th anniversary celebration on March 28. The fifth-generation family owned company recorded its first transaction on that date in 1855, making it the first real estate brokerage in the country.
Stewart Information Services Corp. has hired a top executive. The addition will help guide a transformation in one of Stewart’s divisions. Read on for the details.
Chairman of the Senate Commerce Subcommittee on Consumer Protection, Product Safety, Insurance and Data Security Jerry Moran held a hearing on the value of cybersecurity insurance. Cyber insurance policies vary greatly, but increasingly, new policies are being developed to cover costs from a data breach. Keep reading to learn more.
The Consumer Financial Protection Bureau (CFPB) released a new toolkit guiding consumers through the process of shopping for a mortgage and buying a house. Developed as part of the CFPB’s “Know Before You Owe” mortgage initiative, the toolkit will help consumers take full advantage of the new Loan Estimate and Closing Disclosure forms that lenders are required to begin providing in August.
NexTitle, a full-service title and escrow firm based in Bellevue, Wash., named Erin Sheckler president. She was most recently in the position on an interim basis. She recently spoke with The Title Report about the company and her goals.
Title Alliance partnered with RE/MAX Preferred to open a new entity. This marks Title Alliance’s 10th joint venture with RE/MAX. Read on to learn more.
ComplianceEase has acquired the assets of a McLean, Va., company. The acquisition will allow ComplianceEase to create a solution that will help residential mortgage lenders comply with TILA-RESPA Integrated Disclosure (TRID) rule that takes effect. Aug. 1. Read on to learn more.
Stewart Title named a new commercial title officer for its Los Angeles location. Read on to learn more about him.
Pending home sales in February increased to their highest level since June 2013 as sizeable gains in the Midwest and West offset smaller declines in the Northeast and South, according to the National Association of Realtors. Read on to learn more about its results.
Demotech assigned a new rating to First National Title Insurance Co. The underwriter works exclusively with independent agents. Keep reading to learn more.
Ellie Mae will launch its RESPA–TILA integrated mortgage disclosures solution to clients as part of its Encompass mortgage management solution. President and CEO Jonathan Corr said Ellie Mae’s clients will be more than ready. Keep reading to learn more.
The American Land Title Association released its preliminary “2014 Year-end and fourth quarter Market Share Analysis.” Keep reading to learn the results.
World Wide Land Transfer added an underwriting counsel and operations strategist as part of its plan for growth and prominence in the title insurance and escrow industry. The company said bringing her on strengthens not only its New York city office but its national operations. Keep reading to learn more.
First Virginia Community Bank has brought on a new vice president and relationship manager to expand the bank’s niche in commercial banking segments. She is charged with providing financial expertise for the unique and complex needs of title and settlement companies. Read on to learn more.
Property ID Title Co., currently covering the Los Angeles/Orange County area now is open for business. General Manager Morgan Harris told The Title Report he wants Property ID Title Co. to be just as strong as its parent company, Property ID Corp. Read on to learn more.
Stewart Information Services Corp. nominated James Chadwick as a new independent director at Stewart’s 2015 Annual Meeting and entered into an agreement with Bulldog Investors LLC. Keep reading to learn more.
WFG National Title has added two agency sales consultants responsible for growing the company’s footprint in Virginia, Maryland, Delaware and Washington D.C. Senior Vice President, Agency, Southeast Region Thomas Klein said they know the region well and will be trusted advisors to clients. Keep reading to learn more.
Ellie Mae announced two promotions from within to the position of executive vice president. President and CEO Jonathan Corr said the promotion of these two key members of the leadership team allow them both to become officers of the company. Read on to learn more.
Coos County, Ore. and Lander County, Nev. have joined the ranks of eRecording jurisdictions. Lander County Recorder Leslie Bunch said the goal was to become an office that is forward thinking. Read on to learn more.
Most people in the title insurance industry have heard the sordid, high-profile tale of a title company that was caught tossing documents containing sensitive consumer information into an unsecured dumpster. The decade-old case still haunts the industry today, even as federal regulators have enacted stricter privacy rules and lenders have established minimum data handling standards for all of their third-party service providers. But are you compliant with all of these regulations? Do you meet your lender’s expectations? Read on to find out.
First American Chief Economist Mark Fleming told The Title Report that sluggish housing data to start 2015 is underperforming market fundamentals. He believes housing data soon should improve. Read on to find out what has Fleming optimistic.
The Consumer Financial Protection Bureau is hosting an eClosing pilot program. Amy Moser, Mountain America Credit Union Vice President of Mortgage Services, and Noerena Limon, CFPB Policy Analyst and Project Lead, spoke with The Title Report about not only the pilot program but the eClosing experience. Read on to learn more.
A holding company based in Colorado has expanded its presence in that state. It also added a branch in Wyoming. Read on for details of the acquisitions.
Minnesota added two new counties to eRecording with one service. They push the total number of eRecording counties in the state with the service to 69. Read on for the details.
The Mortgage Bankers Association released its annual ranking of commercial/multifamily mortgage firms by origination volume. The study lists 127 originators. Read on to find out who topped the list in 2014.
As regulations have increased around the title industry, the attention paid to compliance and implementation has grown as well. In the second of our two-part story, we look at how the compliance work can benefit companies as Aug. 1, 2015, approaches. Read on for the details.
Proactive title agents are preparing today for eClosings. One title group in Utah said the prep work for its first eClosing transaction was more involved than with paper closings, but was worth the effort. Read on for the details.
A recent study by the National Association of Realtors looked into demographics of recent homebuyers in 2014. The age group which bought the largest share of homes in 2014 might come as a surprise. Read on to find out who has been buying.
As the final day of the ALTA Business Strategies Conference wrapped up, there was still time to talk about TRID. The last general session featured a discussion, with other info exchanged as well. Read on for the details.
As regulations have increased around the title industry, the attention paid to compliance and implementation has grown as well. In the first of our two-part story, we look at the focus placed on compliance within a business.
First Republic Title is expanding. The agency has extended service in two new areas of Texas. Read on to find out where the business is headed.
Adeptive announced a new integration to its ResWare platform. The move brings an on-shore vendor into the ResWare system. Read on to find out the details.
The latest Origination Insight Report from Ellie Mae tracked the share of refinances in lenders’ loan volume for February. It showed an interesting change from January. Read on to find out what the Ellie Mae report revealed.
Housing data to start 2015 has been sluggish. National Association of Home Builders Chief Economist David Crowe said this week, though, that he believes the early data is a blip for the industry going forward. Read on to see what he forecasts for the industry.
Hello from the annual ALTA Business Strategies Conference. It was wonderful to catch up with old friends and meet new ones. Here's what was happening Thursday.
In a new letter to settlement agents, Bank of America responds to questions from settlement agents that it has received since announcing in December that it would prepare and deliver the Closing Disclosure itself beginning Aug. 1. Read on to find out what Bank of America is saying to the industry on its TRID plans.
North American Title Co. recently added a new office in northeast Indiana. Read on for the details of the expansion.
Ernst Publishing Co. has released its Cost2Close Monitoring Service, a tool that ensures that Ernst third-party vendor fees quoted up front have the best chance to match fees disclosed to the borrower three days before closing. Read on for details of the product.