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C.J. Brown Realtors is in the beginning stages of building a new office for agents and clients in Baton Rouge and Ascension Parish, LA. It will house residential sales, mortgage, title and insurance services. Read on to learn more.
Security Compliance Associates (SCA) added to its executive staff with the hiring of a vice president of marketing and sales. He will be responsible for leading marketing initiatives and developing new business opportunities. Read on to learn more.
Sustained job growth throughout the country and improving credit conditions are forecast to help keep commercial real estate activity expanding into next year. However, property prices are likely to slightly cool off after reaching their peak in some major markets, according to the National Association of Realtors (NAR) quarterly commercial real estate forecast. Read on to learn more.
First American Financial Corp. released the First American Loan Application Defect Index for October 2015. It said Ability-to-Pay rules are reducing income-related fraud risk because intentionally misrepresenting one’s income for fraudulent gain is more likely to be caught according to the company’s chief economist, Mark Fleming. Read on to learn more.
Prism Title recently began servicing title needs for Wisconsin Realtors and lenders across all of Southeastern Wisconsin. Its President Robert Bingham said TRID has been an accelerant for the company’s growth. Keep reading to learn more.
The California Department of Insurance approved an expansion of Timios Title, a subsidiary of Timios, Inc. to all counties in California. Timios Title President Richard Thomas said he is excited to bring this expanded service to the company’s clients as it grows market share in California. Read on to learn more.
Black Knight Financial Services announced LoanSphere Closing Insight, a Web-based solution automating the closing process, now is integrated with LoanSphere Empower, Black Knight’s end-to-end loan origination system. Clients now seamlessly can move between the two systems. Keep reading to learn more.
Regions Bank launched a collection of articles and videos offering up-to-date insights to help keep consumers safe during the holiday shopping season and beyond. The information will alert consumers to common types of fraud and theft – as well as steps consumers can take to protect themselves. Read on to learn more.
CoreLogic appointed two senior industry executives to lead the CoreLogic Multifamily business unit. The appointments are a key part of a significant investment by CoreLogic in the growing multifamily housing market. Read on to learn more.
First American’s released its proprietary Existing-Home Sales Capacity (EHS-C) model for October 2015. The EHS-C rate decreased by 3.1 percent compared with September and by 7.3 percent compared with a year ago. Read on to learn more.
A.M. Best announced that it has revised its outlook for North American Title Insurance Co. Read on to see what the agency thinks is ahead for the company, and how strong it believes the firm’s financials are.
Wells Fargo announced that a long-time company veteran is stepping into a top executive position. Published reports say the move could put him in position to be the eventual successor as CEO. Read on for all the details.
In honor of Native American Heritage Month, The Title Report reached out to a nationally recognized expert in real estate and project development on tribal lands to find out what makes working on tribal lands different than regular business. In the second of our two-part story, we gain insights into the personal relationships needed to properly conduct business on tribal lands. Read on for the details.
A new report from the National Association of Realtors shows that the share of first-time homebuyers continued to fall in 2015, despite the efforts from government entities such as Fannie Mae, Freddie Mac and the Department of Housing and Urban Development to loosen credit and reach potential buyers with lower credit scores. Read on for these and other details from the report.
A new report from RealtyTrac analyzed test scores for elementary schools in more than 7,200 U.S. ZIP codes to find out whether homes in areas with good schools were affordable for buyers. Could you afford to buy a house with good schools for your children? Read on to see what RealtyTrac discovered.
Louisiana has two parishes in the state now that are eRecording, an announcement between the parish and Simplifile stated. Read on to see which parish has joined Jefferson Parish in offering the ability to file electronic documents, including mortgage and conveyance records, for recording.
In honor of Native American Heritage Month, The Title Report reached out to a nationally recognized expert in real estate and project development on tribal lands to find out what makes working on tribal lands different than regular business. In the first of our two-part story, we see why it can be difficult to conduct a title search in Indian country. Read on for the details.
Two days after an analyst note warned investors to avoid shares of Stewart Information Services Corp., the company announced an increase to its dividend and a new share buyback plan. Read on for details of why the analyst cautioned against investing in Stewart, and what the dividend increase and buyback program could mean to Stewart shareholders.
In the first month of mortgage loans subject to the new TILA-RESPA Integrated Disclosure (TRID) forms, Ellie Mae’s Origination Insight Report tracked the length of time that loans closed, compared with the prior month before TRID. The report also found that the closing time for loans in October was substantially different than a year earlier. Read on to find out how the timeline for closing loans has changed since October 2014.
SoftPro said it has a new integration with a nation title insurance company. Read on to find out how the integration with SoftPro’s 360 platform will help its agents.
California Members Title Insurance Co., a newly launched agency serving customers throughout California, has added two executives to its staff. Read on to see who the key hires are and the extensive title experience they bring to their roles.
Snapdocs announced that it has launched a portal designed to connect all parts of the mortgage closing transaction. Read on to see what the new product can do to streamline the closing process, and how Snapdocs says business has grown for the company over the past year.
The FHA Mutual Mortgage Insurance Fund’s capital ratio stands at more than 2 percent, the first time this has happened since 2008. Mortgage Bankers Association President and CEO David Stevens said the FHA and its leadership should be commended for protecting the program and the American taxpayer. Keep reading to learn more.
According to the Mortgage Bankers Association, third quarter 2015 commercial and multifamily mortgage loan originations were 12 percent higher than during the same period last year and 3 percent higher than the second quarter of 2015. MBA Vice President of Commercial Real Estate Research Jamie Woodwell said increases in lending volumes are expected to continue. Read on to learn more.
Hudson County, N.J., and Bladen County, N.C., are now eRecording. This allows the clerks to reduce costs and increase efficiencies. Read on to learn more.
Existing-home sales are expected to increase in 2016 at a moderate pace, according to an economic forecast forum at the 2015 Realtors Conference & Expo. National Association of Realtors Chief Economist Lawrence Yun said sales activity in 2016 will be driven primarily by the ongoing release of more pent-up sellers finally realizing equity gains. Read on to learn more.
Stewart Title and zipLogix, a forms software provider and partner to the National Association of Realtors, formed a strategic partnership to offer Realtors title and escrow service ordering from within zipForm. Keep reading to learn more.
Bay National Title Co. opened a new title insurance office in Lake Mary, Fla., on Nov. 1, 2015. It will offer underwriting and closing services for home buyers, lending institutions and real estate agents. Read on to learn more.
Ellie Mae has integrated AllRegs mortgage information and guidelines into Encompass, Ellie Mae’s all-in-one mortgage management solution. The integration is part of a multi-phased effort to make AllRegs guideline and compliance content seamlessly accessible to users of Encompass. Keep reading to learn more.
Fitch Ratings has affirmed the Issuer Default Rating (IDR) of First American Financial Corporation (FAF) and the Insurer Financial Strength (IFS) rating. The Rating Outlook for all ratings is stable. Read on to learn more.
Alliant National Title Insurance Co., appointed a regulatory compliance officer and vice president. She will provide guidance on regulatory requirements for compliance with applicable title insurance laws and also be tasked with spearheading research and analysis. Read on to learn more.
According to RealtyTrac’s latest report, the October monthly increase in foreclosures was the largest month-over-month increase since August 2011. Despite this, foreclosure starts in October were still down 14 percent from a year ago. Read on to learn more.
Fitch Ratings affirmed Fidelity National Financial’s title insurance operating company Insurer Financial Strength ratings and Issuer Default Ratings. The Rating Outlook is stable. Keep reading to learn more.
Title Midwest, Inc. in Kansas acquired the assets of four new title offices. CEO John Stauffer said he is fortunate to add these offices and employees to the company’s growing operations. Read on to learn more.
Florida agents gathered in Delray Beach, Fla., for the annual Florida Land Title Association (FLTA) convention had plenty of broad topics to discuss and learn about over three days – from the TILA-RESPA Integrated Disclosure (TRID) rule implementation to compliance and third-party vendor management – as well as statewide issues that brought passionate discussion, such as the status of an FLTA-sponsored estoppel bill. The Title Report was represented at the event; read on for highlights from the floor.
Fitch Ratings declared Stewart’s outlook as stable in its latest announcement. This reflects the company’s solid capitalization, modest financial leverage and its position in the market. Read on to learn more.
First Lenders Data, Inc. has filed for patent pending rights to the company’s software as a service, The FirstClose Report. It is designed to streamline vendor management order and delivery protocols and automate settlement service ordering. Read on to learn more.
First Community Mortgage Inc., a full-service retail, wholesale and correspondent lender based in Murfreesboro, Tenn., has chosen a vendor and its collaboration services to aid them and their settlement agents in meeting the CFPB’s TRID rule. It will be able to share fees and documents to meet Closing Disclosure and final documents timelines and requirements. Read on to learn more.
Although the Homeownership Progress Index has fallen nationally in the last year, it is important to note the trends and relationship between the underlying factors influencing homeownership rates, according to First American Chief Economist Mark Fleming. To address this, the company released a new report tracking these numbers. Read on to learn more.
LodeStar Software Solutions integrated with BeesPath’s ClosingBridge for initiating closing collaboration directly with title order delivery. It also will be an authorized reseller of the system. Read on to learn more.
Through collaboration and partnership, Movement Mortgage may have closed the first TRID transaction. It happened Oct. 16 and took just 10 days. Several industry players had prepared together for the implementation Oct. 3 and they told The Title Report they credit this for the smooth transaction.
Ellie Mae entered into a partnership with Freddie Mac to integrate components from Freddie Mac’s Loan Advisor Suite into Encompass, Ellie Mae’s all-in-one mortgage management solution. Ellie Mae and Freddie Mac will assess future integration opportunities as new Loan Advisor Suite components are introduced. Keep reading to learn more.
LandStar Title Agency, a New York based title insurance provider licensed in NY, NJ and FL offering both commercial and residential title insurance, announced a strategic alliance with Accord Abstract. The Accord Abstract president said he will have the ability to offer his clients the top underwriters in the country, the latest in electronic recording capabilities and an enhanced client-focused experience. Read on to learn more.
Simplifile has experienced an eRecording boom over the last few weeks. When asked why that would be its Vice President of Regulatory and Industry Affairs Mark Ladd told The Title Report TRID may be a factor in the increased interest. Read on to learn more.
Florida Agency Network, a network of independent agencies providing title services in 30 locations across the state, will expand its headquarter operations in Plant City. The company also announced its completion of the SSAE 16, SOC 2 Type 1 examination. Read on to learn more.
NextDeal has successfully completed a SOC 2 Type II examination for its DigitalDocs Hosting and Automated Marketing System and SafeSend email encryption platform. The company retained international business advisory firm Skoda Minotti for its SOC audit work. Keep reading to learn more.
Homeowners who sold during the third quarter realized an average price gain of 17 percent from the purchase price of their property. This is the highest average price gain for home sellers since the third quarter of 2007, according to RealtyTrac’s September and Q3 2015 U.S. Home Sales Report. Read on to learn more.
Landtech Data Corp. Director of Sales and Marketing Benjamin Bell announced Edward Wyatt Bell, founder and president of Landtech Data Corp., has passed away. Read on to learn more.
Investors Title Co. announced its results for the third quarter ended Sept. 30, 2015. Net income increased 73.1 percent. Read on to learn more about the profitable quarter for Investors Title.
A new California-based title insurance company was launched by a credit union to serve its membership, as well as mortgage bankers and institutional lenders throughout the state. California Members Title Insurance Co. (CMTIC) is an independent company owned by California Credit Union. Keep reading to learn more.
Lincoln Abstract & Settlement Services announced it has created first the title and closing franchise. It is designed as a solution for independent title agencies facing mounting compliance and IT security cost obligations because of new and increasing regulations. Read on to learn more.
Alliant National Title chose one of its own to serve as deputy general counsel and senior vice president. The promotion comes as she prepares to mark 20 years in the title insurance industry. Read on to learn more.
reQuire added to its account management team in the southwest region. The new hire will be responsible for bringing the company’s tracking solution to its existing and future title industry partners in Arizona, Colorado, New Mexico, Nevada and Utah. Read on to learn more.
Res/Title announced its integration with Calyx’s LOS systems effective Nov. 2. The integration allows Calyx Point users to access and utilize Res/Title’s resources without leaving their loan origination systems. Keep reading to learn more.
Real Estate Data Shield (REDS) will launch REDS 2.0, the company’s security and compliance solution in November of this year. While all the familiar offerings from the original version of REDS will be included, the new, timely modules will have a more updated look and feel. Read on to learn more.
WFG National Title has named a new senior vice president to oversee the company’s national agency division. He has 35 years of experience in the industry and takes over for the retiring senior VP, who leaves after 40 years of service. Read on for the details.
A gap is growing between the low defect risk cool spots and the high defect risk hot spots, according to First American’s Chief Economist Mark Fleming. September’s Loan Application Defect Index fell 1.2 percent compared with August, and 9 percent year-over-year. Read on to learn more.
Fidelity National Financial appointed a new president effective Jan. 1, 2016. He has more than 30 years of experience with FNTG and its predecessor companies. Read on to learn more.
D | Bello Associates CEO Jeffrey Bates told The Title Report business is booming post-TRID. A privately held, independent outsource service provider, the company offers title data and operational services to the industry. Read on to learn more.
In 2005, Jennifer Ferri opened the doors of her own business, Title Junction in Fort Myers, Fla. Ten years later she serves as CEO and the business is thriving. Read on to learn more.
As consumers become more comfortable applying for loans online, many are demanding that same level of convenience at their closing. Mobile closings, where the notary signing agent goes to the consumer rather than meeting in a closing office, are therefore growing in popularity, CEO of Snapdocs Aaron King told The Title Report.
A year to the day after TRID became effective, mortgage lending has not stopped. Applications have been taken, originations have begun, refinances have closed, as have some quicker or easier full mortgage loans. Yet all is not perfect. Learning new processes and technology have made it “very, very stressful out there in the closing shops.” The Title Report delves into initial reactions from the industry to find out how the first round of TRID closings are going in the first of our four-part TRID Exclusive series.
Community Closing Network recently announced its intent to build a new title company by acquiring 10-12 “best-in-class” title agencies serving local markets throughout the eastern United States. CEO and President Mike Ridgway told The Title Report CCN is a holding company, backed by lead investor Gramercy Risk Holdings. Its model will enable title agencies and agents to focus on their core services while the CCN platform handles the administrative and compliance side of the business.
With the goal of providing the industry and consumers with a more secure way to bank online, the American Bankers Association (ABA) and the Financial Services Roundtable teamed up with other financial services investors to offer .bank and .insurance domain names. With extra security measures in place, these domain names provide a safer alternative for those in the financial services industries.
Fidelity National Financial, Inc. reported the operating results of the FNF Group, a provider of title insurance, technology and transaction services to the real estate and mortgage industries, for the three- and nine-month periods ending Sept. 30, 2015. The FNF executive team was happy with the strong earnings results, especially in the commercial sector. Read on to learn more.
North American Title Insurance Co. (NATIC) has added search provider Central Property Search Inc. in Pennsylvania to its preferred provider list. The company provides title searches, commitment production and other services throughout Pennsylvania. Read on to learn more.
MiT National Land Services brought on a new vice president of business development. He will guide the development of new strategic partnerships and deepen existing relationships with top brokerage and law firms. Read on to learn more.
First International Title announced two new hires in Florida. Both said they are excited to be joining the company and helping it to move forward. Keep reading to learn more.
Black Knight Executive Chairman Bill Foley said the company’s third-quarter results reflect continued strength in the fundamental drivers of long-term growth, as it continues to execute on its strategic initiatives. Revenues increased from a year ago. Read on to learn more.
Atlantis National Services Inc. achieved its SOC 2, Type I attestation certification as of Sept. 30, 2015. It says that the title insurance company’s IT controls are in compliance. Read on to learn more.
TitleVest, a New York-based provider of title insurance and related real estate services, announced the strategic expansion of its business development team with the addition of a new sales executive. She said she is looking forward to implementing new business development initiatives. Read on to learn more.
Ellie Mae named a new vice president of government and strategic relations. The newly created role will focus on growing and managing the company’s relationships with government agencies and other regulatory bodies. Read on to learn more.
A.M. Best affirmed the financial strength ratings and issuer credit ratings for the five domestic title insurance companies that make up the subsidiaries of the Fidelity National Financial, Inc. The outlook for all the ratings is stable. Keep reading to learn more.
JPMorgan Chase is consolidating its technology onto one servicing platform for mortgages and home equity loans to improve efficiency and risk management. It is extending its servicing technology contract to support first mortgage and home equity loans. Read on to learn more.
First National Title Insurance Co. reported revenues through Sept. 30, 2015. It showed an increase of 36.3 percent over the same period last year. Read on to learn more.
PCN Network was granted a SOC2, Type II certification for its Safe Escrow System and related service. It provides a managed disbursement solution for title agents, underwriters and mortgage lenders. Read on to learn more.
Bay National Title Co. opened a new title insurance office in Tampa. This is the third location for BNTC. Read on to learn more.
Old Republic Title announced its earnings for the third quarter of 2015, with CEO Rande Yeager saying the 108-year-old company was “growing very nicely.” Read on for the details of Old Republic’s record-setting quarter.
After a lull late last year and early this year, home sales volume and average sales prices picked up dramatically again in the second and third quarters of this year, according to RealtyTrac Vice President Daren Blomquist. This resulted in a substantial drop in seriously underwater homeowners. Keep reading to learn more.
Corporation Service Co. is now an approved eRecording vendor for the McKean County, Pa. Recorder of Deeds office. Electronic document recording allows recording offices to reduce costs, eliminate payment errors, receive prompt payment and increase staff productivity. Read on to learn more.
Stewart Information Services Corp. reported its third quarter 2015 earnings. CEO Matt Morris said the title segment produced another quarter of solid results, while the mortgage service segment remained challenged by the delinquent loan servicing operations the company is exiting. Read on to learn more.
First American Financial Corp., announced its results for the third quarter ended Sept. 30, 2015. CEO Dennis Gilmore said results in the title segment were strong, driven by higher closing activity in the residential purchase market and continued growth in the commercial business.
Title Alliance expanded into Arizona with its latest Keller Williams joint-venture. Title Alliance Director Jim Campbell said the right partners are on the ground and he can’t wait to see what the future brings with this partnership. Read on to learn more.
Mortgage Network Inc. opened a new branch in Massachusetts. It will focus on helping local borrowers with their home financing needs by providing a full range of mortgage products. Read on to learn more.
The Mortgage Bankers Association expects to see a 10 percent increase in mortgage originations in 2016, but a drop in refinance originations. It is forecasting strong household formation, improving wages and a more liquid housing market will drive home sales and purchase originations in the coming years. Read on to learn more.
ClosingCorp has launched a new tool to enable lenders to provide prospective borrowers with realistic cost data in the early stages of a loan. CEO Brian Benson said moving the conversation about closing costs up potentially will improve the quality of lead conversion rates and customer satisfaction. Keep reading to learn more.
First American Financial Corp. has enhanced its home equity solution suite for mortgage lenders. It is designed to focus on risk mitigation and portfolio management. Read on to learn more.
First American Title Insurance Company Executive Vice President John Hollenbeck NTP has taken over as president of the American Land Title Association (ALTA). He recently sat down with The Title Report to discuss his plans for the next year with the group. Read on learn about his priorities going into 2016.
Opes Advisors implemented Ellie Mae’s Encompass mortgage management solution as its mortgage lending platform. With new federal mortgage regulations approaching, Opes Advisors began looking to update its mortgage automation software early last year. Read on to learn more.
ServiceLink named a new division president of originations. He will be part of the executive leadership team and be responsible for strategy, operations and growth. Keep reading to learn more.
ClosingCorp’s Loan Estimate Service now is integrated with INTEGRA Software Systems’ web-based Epic and Destiny Loan Origination Systems. The service incorporates client-specific business rules to deliver correct fee and tax information in each estimate and notifies users should transfer tax, recording fees or vendor estimates change. Read on to learn more.
Two more counties are eRecording with CSC. This will allow the recording offices to reduce costs, eliminate payment errors, receive prompt payment and increase staff productivity. Keep reading to learn more.
Vanderbilt Mortgage and Finance, Inc. has rolled out new digital tools for consumers who are beginning their home financing journey. These new tools will help make the mortgage process faster and easier for the consumer, Vanderbilt said. Read on for the details.
Real estate technology company Pavaso completed its end-to-end digital process for the mortgage/real estate industry with the addition of its sales contract negotiation tool for real estate agents. Read on to find out how Pavaso’s tools help create a “unified modern experience” for consumers.
A pair of companies said they will collaborate to offer title insurance and settlement services throughout the northern Virginia, greater D.C. and Maryland region. The firms will be members of the TitleConnect alliance. Read on to learn more.
Equity National Title has hired a vice president, national sales executive. Equity is a national title/settlement agency offering a full array of title and settlement solutions. Read on for all the details.
eLynx announced it became one of the first companies to achieve MISMO Software Compliance Certification in the TRID domain, while maintaining Premiere MISMO Compliance Certification in the Information Exchange domain. Read on to learn more.
The current market environment of increased regulation is putting significant pressure on the largest banks and has created a growing opportunity for mainstream mortgage bankers, according to Vantage Production LLC. According to their announcement, there have been few market cycles with as much potential for mainstream and non-bank lenders as the present one. Read on to learn more.
Home prices are up year-over-year and month-over-month, according to the CoreLogic Home Price Index and HPI Forecast for August 2015. It said home prices nationwide, including distressed sales, increased by 6.9 percent in August 2015 compared with August 2014. Keep reading to learn more.
The Federal Reserve’s Beige Book pointed to continued modest expansion in economic activity during the reporting period from mid-August through early October. Business contacts across the nation were generally optimistic about the near-term outlook. Read on to learn more.