PLTA is proud to offer The Title Report RSS feed for visitors
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.
Rep. Carolyn B. Maloney (D-N.Y.) requested information from the Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency regarding the what response they have taken to recent cyberattacks on the SWIFT financial messaging network. In her letter she said more than 11,000 financial institutions use SWIFT to send billions of messages every year, facilitating trillions of dollars of cross-border payments. Keep reading to learn more.
Middleburg Financial Corp. announced it will open a new branch in Clarke County, Virginia. It will offer a full array of financial services, including mortgage lending, personal and commercial banking and investment and trust services. Read on to learn more.
Salaried workers making as much as $47,000 annually will become eligible for overtime by the end of the year, according to new rules finalized by the Department of Labor. The White House says the move will assist workers whose wages have been relatively stagnant in recent years, while news of the move was met with some opposition in the industry. Read on for the details.
SoftPro’s 360 business exchange platform now is integrated with TrustLink from First American Professional Real Estate Services (FAPRES). SoftPro customers who also use TrustLink will benefit from this seamless integration without leaving their SoftPro environment. Read on to learn more.
Landmark, a land records software company, has gone live in Clay County, Fla. Landmark fields a suite of software solutions in court case management, tourist and bed tax collection, property deed sales and jury management. Read on for details of its expansion.
RealtyTrac released its Q2 2016 U.S. Residential Property Vacancy and Zombie Foreclosure Report. It showed nearly 1.4 million U.S. residential properties were vacant as of May 2016. Keep reading to learn more.
Consumers and businesses are more cautious amid slowdown in the labor market, according to Fannie Mae’s Economic and Strategic Research Group. It lowered its full-year economic growth forecast to 1.7 percent. Read on to learn more.
First American Financial Corp. released First American’s proprietary Potential Home Sales model for the month of April 2016. For April, the model showed that the market for existing-home sales is underperforming its potential. Keep reading to learn more.
The Center for Responsible Enterprise and Trade recently released a whitepaper, “Cyber Risk: Navigating the Rising Tide of Cybersecurity Regulation.” It says cybersecurity threats have grown in their severity and pervasiveness, information security has become a leading priority for organizations and governments worldwide. Read on to learn more.
The average time to close a loan held steady in April, according to the Ellie Mae Origination Insight Report. The Origination Insight Report mines its application data from a robust sampling of approximately 66 percent of all mortgage applications that were initiated on the Encompass all-in-one mortgage management solution. Keeping reading to learn more.
Catoosa County in Georgia is eRecording real estate documents through CSC. Read on to learn more.
AmTrust Financial Services, Inc., has completed the acquisition of a New York title company and its subsidiaries. It will be part of AmTrust Title, AmTrust’s expanding title insurance operation. Read on to learn more about the company and the deal.
Black Knight Financial Services executives discussed the company’s acquisition of eLynx on a conference call this week, saying the acquisition is an example of the company’s strategy moving forward. Read on for details of the deal.
CoreLogic released its March 2016 National Foreclosure Report showing the foreclosure inventory declined by 23.2 percent, and completed foreclosures declined by 14.9 percent, compared with March 2015. The March 2016 foreclosure inventory rate is the lowest for any month since October 2007. Read on to learn more.
Title Lock, a title fraud detection company, now is offering its proprietary title fraud monitoring and alerting system via desktop and mobile platform to home and property owners nationwide. Title Lock President Harish Chopra told The Title Report the platforms provide early protection by notifying users with real time-alerts if any of the 250 types of title documents are disturbed at the county recorder’s office. Keep reading to learn more.
Millennials are bucking trends, changing the landscape of America, and sharply different from previous generations in many different ways. One of the most visible and consequential ways is through millennial homeownership numbers. Keep reading to learn more.
One of the leading Congressional advocates for the title and mortgage industries, Rep. French Hill, took time out of his schedule for a one-on-one interview with The Title Report. He talked about confusion that still remains with the TILA-RESPA Integrated Disclosure (TRID) rule, frustrations he and the industry have had with the way the Consumer Financial Protection Bureau (CFPB) has handled the regulation, and the future of the TRID hold-harmless bill that he introduced and passed the House in October. Read on for all the details.
Counties across 11 states nationwide have added eRecording abilities with Simplifile, the company announced. Read on to see where the company has expanded its reach.
Addressing more than 250 attendees Monday during the American Land Title Association (ALTA) 2016 Federal Conference & Lobby Day in Washington, D.C., Congressman French Hill (AR-02) stressed that the Consumer Financial Protection Bureau (CFPB) should provide additional formal guidance to help industry comply with the TILA-RESPA Integrated Disclosure (TRID), or the Know Before You Owe, rule.
RealtyTrac released its Q1 2016 U.S. Residential Property Loan Origination Report. Purchase originations were up 3 percent, as refinance originations fell 20 percent from a year earlier. Read on to learn more.
SoftPro announced a new integration for agents of Title Resources Guaranty Co. with its SoftPro 360 business exchange platform. Read on for details of how the integration will help the companies and their products.
Six months after buying Pittsburgh-based title company ValuAmerica, the CEO of parent company Radian Group told analysts that the company already had seen evidence of progress in cross-selling its services to its mortgage insurance customers. Read on for details from the company’s first-quarter earnings call.
Thomas Title and Escrow announced that its commercial services platform is expanding nationally, with a new managing director named to lead the division. Read on for details of the move.
RedVision and Accenture teamed up to produce a title insurance production benchmark study titled, “Key insights on true title origination costs and what title companies can do about them.” As companies continue to try to reduce costs, one question remains: What does it truly cost title insurers to originate a title? Read on to learn more.
Black Knight Financial Services, Inc. has acquired eLynx, a portfolio company of American Capital Ltd. Black Knight Executive Chairman Bill Foley said this is an exciting step for Black Knight as it announces its first acquisition as a publicly traded company. Read on to learn more.
Since the implementation of the TILA-RESPA Integrated Disclosure (TRID) rule in October, it’s safe to say that business has been anything but usual for the title and settlement services industries. In a panel discussion at the National Settlement Services Summit in Charlotte, N.C., Orange Leaf Consulting CEO Cynthia McGovern and Florida Agency Network CEO Aaron Davis will discuss the opportunities to increase and enhance your business during this period of change. Read on for the details.
First American Financial Corp. released the second annual First American Homeownership Progress Index. It measures the level of homeownership and the underlying demographic and economic factors that influence the probability of homeownership over time and geography. Read on to learn more.
Simplifile announced it has installed its eRecording solution in 16 additional county recording offices across Alabama, Arkansas, Georgia, Florida, Louisiana, North Carolina and Pennsylvania. Read on to learn more.
Title Alliance has acquired Village Title Agency in Summit County, Ohio. The owner Gayle Snyder said she is excited to expand the title agency she founded in 1995. Keep reading to learn more.
NextDeal has named a vice president of business development. NextDeal CEO Robert Reich said is excited about the appointment. Read on to learn more.
ATPR Inc. released a whitepaper, “Getting onto (and staying on) a mortgage lender’s “white list.” It said mortgage lenders are scrutinizing the way their service providers do business more than ever. Read on to learn more.
To accommodate the industry demand for more homeowner and condo-owner association liens, Chronos Solutions has opened a second location in Rainbow City, Ala., to house the company’s HOA Solutions Group. SVP Duke Odom told The Title Report the surge in demand is due to higher ramifications from legal precedents. Read on to learn more.
A dog is smarter than its tail, right? It usually is, until it doesn’t pay close enough attention to the details. At this year’s National Settlement Services Summit (NS3), October Research, LLC will be hosting “TRID Tails,” where a panel of experts will review the TILA-RESPA Integrated Disclosure (TRID) rule’s various conflicts and problems that they have seen arise out of the normal workflow between creditors and settlement agents. Read on to learn more.
Escrow practices across the country vary dramatically already, but state and federal regulatory changes, market developments and fraud considerations promise to further complicate matters. During the National Settlement Services Summit, attendees will learn about the latest trends impacting escrow functions as well as how to keep their operations safe and successful.
Wells Fargo launched FastFlex Small Business Loan, an online, fast-decision loan. It is designed to help small businesses with short-term credit needs get access to funds as soon as the next business day. Read on to learn about the lender’s newest tool for small businesses.
RamQuest, Inc.’s Closing Market digital network now is integrated with Title Resources. This integration enables agents who issue Title Resources title insurance policies to access closing protection letters and policy jackets through RamQuest’s Closing Market digital network. Read on to learn more.
The Federal Deposit Insurance Corporation (FDIC) highlighted the agency's resources to help small businesses get the most from their banking relationships. Their ability to generate new jobs depends, in large part, on access to credit and other banking services. Read on to learn more.
Fidelity National Title Agency, a member of the Fidelity National Financial family, named a vice president/branch manager of a commercial branch in Arizona. Read on for more details.
Realogy Holdings Corp., parent company of the Title Resource Group, announced its earnings results for the first quarter of 2016. TRG revenue soared in the first quarter from a year ago because of strong growth in purchase transactions. Keep reading to learn more.
Investors Title Co. announced its results for the quarter that ended March 31, 2016. Although revenues for most issuing offices increased from last year, they were offset by reductions in a few larger agencies. Still, profits rose from a year earlier. Read on to learn more.
Latter & Blum, which operates Platinum Title among its family of companies, announced a merger with Louisiana-based Donnie Jarreau Real Estate. Read on for more about the transaction.
CoreLogic Home Price Index (HPI) and HPI Forecast data for March 2016 shows home prices are up both year-over-year and month-over-month. CoreLogic Chief Economist Frank Nothaft said housing helped keep U.S. economic growth afloat in the first quarter of 2016, as residential investment recorded its strongest gain since the end of 2012. Read on to learn more.
Priority Title & Escrow welcomed a new executive vice president and general counsel. He will extend the company’s reach into new markets growing its footprint. Read on for the details.
Kensington Vanguard National Land Services has acquired a title agency in Colorado. The transaction expands its presence to the western U.S. Read on to learn more.
The Department of Housing and Urban Development (HUD) announced it has awarded and allocated more than $180 million to affordable housing projects and groups across the country. Read on to see where HUD is putting its money, and what it hopes to gain from the efforts in the housing market.
Baird and Warner acquired Illinois-based Brush Hill Realtors. This partnership between two independent real estate brands will enable the companies to combine their existing presence across Chicagoland, the companies announced. Read on for the details.
Iberiabank Corp., which has 22 title offices in Arkansas and Louisiana, reported that its revenue from title rose in the first quarter from a year earlier. The company overall reported earnings within its guidance range and exceeding analysts’ expectations. Read on for more.
The team at Professional Lien Search is reintroducing the company as PropLogix. Its new slogan is PropLogix: Real Property. Real Solutions. CEO Tim Healy said there was more the company could do for its customers in addition to lien searches, but the original name didn’t reflect that. Keep reading to learn more.
Ellie Mae reported revenues increasing 36 percent in the first quarter from a year ago, and saw the strong business in the first quarter as a reason to increase its guidance for the full year. Read on for the details and the reaction from CEO Jonathan Corr.
This year at the National Settlement Services Summit (NS3) New Homes Solutions Consulting founder Kimberly Mackey will be speaking at the “Title Agents, Realtors and Builders: Why Can’t We Just Get Along?” session 2:10 p.m. Tuesday, June 7. She will be talking about the importance of the maintaining the long-term relationship with Realtors and builders to drive sales and grow your business.
Fidelity Title Group named an assistant vice president for agency education and development in north and central Florida. Read on for details of the hiring.
Simplifile and Landtech Data Corp. have joined forces. Settlement service providers now can submit and pay for their eRecording documents using Simplifile without leaving the Landtech system. Keep reading to learn more.
The April 2016 Senior Loan Officer Opinion Survey on Bank Lending Practices conducted by the Federal Reserve addressed changes in the standards and terms on, and demand for, bank loans to businesses and households over the past three months. This summary discusses the responses from 70 domestic banks and 22 U.S. branches and agencies of foreign banks. Read on to learn more.
Revenue and earnings from Fidelity’s title insurance group rose in the first quarter from a year ago, with Chairman Bill Foley calling the results a solid start to “another successful year for FNF.” Read on for more details.
RealtyTrac released its Q1 2016 U.S. Cash & Institutional Investor Housing Market Report, showing all-cash buyers of single-family homes and condos nationwide paid less per square foot than all homebuyers, but that cash buyers in some local housing markets paid a premium price per square foot. Keep reading to learn the details.
The latest Ten-X Commercial Real Estate (CRE) Nowcast reveals that commercial valuations increased in April, both from a month earlier and a year ago. Valuations now are back above their year-end 2015 level. Read on for the details.
Title Financial Corp. named a Southern Idaho regional manager for its First American Title Co. operation. President Jay Williams said he is going to be a great resource to managers working directly with him as well as the company as a whole. Read on to learn more.
Old Republic reported first quarter earnings that showed gains in its title insurance group from a year ago, prompting Chairman and CEO Al Zucaro to say the unit’s performance was “better than we anticipated.” Read on to see how strong of a start to 2016 Old Republic reported.
The housing industry was eager to react to the CFPB’s letter to industry associations and their members. Greater Illinois Title President and CEO Greg Kosin said this is the first concrete evidence that they recognize that implementation has been bumpy and real world problems exist and need to be addressed. Read on to learn more.
Title agents and attorneys are expected to adhere to the highest ethical standards, especially given Dodd Frank’s ban on unfair, deceptive or abusive acts or practices, which gave the CFPB broad authority to root out questionable activities. This will be the topic of a highly engaging ethical discussion at this year’s National Settlement Services Summit, led by Charles Cain and Marx Sterbcow. See more here.
Black Knight Financial Services announced higher revenues and adjusted earnings for the first quarter from a year ago, and talked about the status of its Closing Insight portal. Read on for all the details.
Industry communications with the Consumer Financial Protection Bureau (CFPB) appear to have paid off. Nearly seven months after the implementation of the CFPB’s TILA-RESPA Integrated Disclosure (TRID) rule, the bureau announced that it would reopen rulemaking, with a notice of proposed rulemaking expected to be released by late July.
Iberiabank Corp., which has 22 title insurance offices within its financial holding company, reported its title revenue in the first quarter of 2016 rose from a year earlier.However, title revenues did slow nearly 13 percent from the fourth quarter of 2015. Keep reading to learn more.
Ernst Publishing Co. announced an industry veteran has joined the company as director of the project management office. He will manage project management company-wide. Read on to learn more.
NextDeal named a vice president of NextDeal Consulting. CEO Robert Reich said he is a true technology in the title industry, with years of hands-on experience. Keep reading to learn more.
Title Alliance’s Greater Maryland Title named a director of sales and marketing. She will assist with real estate related legal questions to conduct closings, teach classes and lead lunch and learns while keeping their clients abreast of industry/legal updates. Read on to learn more.
Williston Financial Group (WFG) is the sixth-largest title insurer by market share, according to 2015 data compiled by the American Land Title Association, and the company recently released its State of the Company Report. The report details WFG’s focus on compliance, its top five risks targeted by management, and its dedication to information technology. Read on for details from the report.
Mortgage Contracting Services, LLC (MCS) has formed MCS Solutions to incorporate the company’s valuations, title services and steel security product line. The company’s former senior vice president was promoted to chief operation officer of the new division. Read on to learn more.
Corporation Service Co. (CSC) is now an approved eRecording vendor for the Beauregard Parish Clerk’s office. Clerk of Court Brian Lestage said he always is looking for better, more efficient way to serve the citizens. Read on to learn more.
Freddie Mac released its monthly Outlook for April showing that although recent data darkened the growth outlook for the first quarter, housing is expected to maintain its momentum in 2016 and be an economic engine of growth. Keep reading to learn more.
The Department of Housing and Urban Development and the U.S. Census Bureau released their report on new residential sales in March. The median sales price of new houses sold in March 2016 was $288,000. Read on to learn more.
During the merger and acquisition (M&A) process, companies look at the financials and corporate cultures during the transaction. CrowdStrike Director of Proactive Services Justin Weissert told The Title Report that boards of directors are beginning to understand cyberrisk and are being proactive, but he doesn’t see that attention on the M&A side. Keep reading to learn more.
First American Financial Corp. announced financial results for the first quarter 2016. Total revenue for the first quarter of 2016 was $1.2 billion, an increase of 8 percent relative to the first quarter of 2015, but profits grew much more than that. Keep reading to learn more about how the company performed.
Bolstered by big gains in the Northeast and Midwest, existing-home sales bounced back in March and remained slightly up from a year ago, according to the National Association of Realtors. Sales rose in all four major regions last month and are up modestly from March 2015. Read on to learn more.
Berkshire Hathaway HomeServices released results of its latest Homeowner Sentiment Survey. It indicated current and prospective homeowners are increasingly optimistic about U.S. real estate. Keep reading to learn more.
The title insurance industry generated $13.1 billion in title insurance premiums in 2015, up nearly 16 percent from 2014, according to the American Land Title Association’s (ALTA) 2015 year-end and fourth-quarter Market Share Analysis. Read on to learn more.
When the industry gathers in Charlotte, N.C., June 6-8 for the National Settlement Services Summit, it will have a chance to hear from a host of top underwriter and lender executives in three panels. Read on to find out who will be featured, and what to expect from some of the most dynamic sessions at the conference.
After months of longer closing times, the latest Ellie Mae Origination Insight Report shows that closing time decreased in March. Read on to find out how much faster closings got in the month.
Three title agents who filled out our Voice of the Title Agent survey have been selected as winners of subscriptions to The Title Report. Read on to find out who the lucking winners are this year.
The industry changed in 2015 like few times in its history. The TILA-RESPA Integrated Disclosure (TRID) rule took effect and altered the way the industry worked together in the homebuying process. A continued focus on government regulations brought scrutiny to areas from affiliated businesses to marketing services agreements, vetting to cybersecurity.
Stewart Information Services Corp. released its earnings for the first quarter. CEO Matt Morris discussed a recent restructure of the company as well as the completion of the delinquent loan servicing wind down. Read on to learn more.
During his presentation at ALTA Business Strategies Chief Cybersecurity Business Strategist Renault Ross of Symantec Americas Strategic Programs said, by far, small-to-medium-sized businesses are the most targeted by cyberattackers. He said you can patch a computer, but you can’t patch a person. Read on to learn more.
WFG Lender Services named a national sales director. He will work to grow the WFGLS client base, while also serving as a resource for existing clients. Read on to learn more.
Coast Title Insurance Agency announced the addition of a closing processor. Its owner said the newest member of the team is a good fit for the business and also gives back and cares about the community. Keep reading to learn more.
RealtyTrac’s latest home sales report shows that sellers made out well in March, with gains from their sale at levels unseen since the start of the Great Recession. Read on to find out how much sellers made and what was behind the leap from a month earlier.
Knight Barry announced that it has opened its second office in Door County, Wisc. The company said the new office will work together with the company’s existing office in Sturgeon Bay to grow the business in the county. Read on for the details.
This year at the National Settlement Services Summit (NS3) June 6-8 October Research, LLC will be offering an all-new feature called the Lender Oversight PACE Lap. It will feature four high-impact sessions examining a range of third-party compliance issues. One of these speakers, Brent Laliberte gave The Title Report a preview of the sessions. Keep reading to learn more.
Economic growth stalled during the first quarter of 2016 but the full-year outlook remains little changed, according to Fannie Mae’s Economic & Strategic Research Group’s April 2016 Economic and Housing Outlook. The ESR Group does not view weakness in the first quarter as the start of deteriorating economic activity, and expects slightly better growth in the second quarter. Keep reading to learn more.
Safe Systems announced the availability of its Enhanced Cybersecurity Assessment Tool for financial institutions. The application is designed to help them complete the complex FFIEC Cybersecurity Assessment Tool. Read on to learn more.
RealtyTrac launched its enhanced Application Program Interface (API) product. It features streamlined enterprise-level access to its nationwide public record property data for more than 150 million U.S. parcels. Read on to learn more.
Professional Lien Search (PLS), a property intelligence company, announced it welcomed a new member to its account executive team. He said he was attracted to PLS because the company is growing steadily and he wants to help the innovative company continue to change the face of the industry. Read on to learn more.
First International Title expanded its operations into New York. This latest move, along with the 2015 purchase of First Western Title in Texas, now provides the company with operations in three of the top four states in premiums written. Read on to learn more.
Welcome to the latest Conversations with the C-Suite, exclusive to The Title Report. In these features we talk to the leaders of the industry about their business priorities, plans for the future and what title agents need to know to succeed. In this edition, Editor Tara Quinn spoke with Agents National Title Insurance Co. CEO and President David Townsend. He said after two years of focusing on compliance, Agents once again is concentrating on business development.
Data Trace Information Services introduced 12 new title plants in Texas. Data Trace President Robert Karraa told The Title Report the company is continuing its expansion nationally and in Texas. Keep reading to learn more.
The National Association of Independent Land Title Agents (NAILTA) is rebuilding and expanding. President Van Winton told The Title Report its mission is to show how independent agents benefit the consumer’s settlement experience. Read on to learn more.
The Mortgage Bankers Association Builder Application Survey data for March 2016 shows mortgage applications for new-home purchases increased by 17 percent from the previous month. The survey tracks application volume from mortgage subsidiaries of home builders across the country. Read on to learn more.
The Title Report attended the, “Pack of Portals: Choosing Wisely” session at ALTA’s Business Strategies conference. The panel said collaboration portals are designed to offer secure communications and efficiencies. Keep reading to learn more about their use and implementation.
According to RealtyTrac’s Q1 and March 2016 U.S. Foreclosure Market Report, foreclosure activity in most markets continues to trend lower and back toward healthy. Keep reading to learn more.
Entitle Direct Group appointed a vice president of title services business development, Western Division. She will further EnTitle Insurance Co.’s expansion in the Southern California market. Read on to learn more.
The TILA-RESPA Integrated Disclosure (TRID) rule, part of the Consumer Financial Protection Bureau’s (CFPB) Know Before You Owe initiative, marked its six-month anniversary to mixed reviews. Although the industry is pushing through implementation there are still issues with technology, the disclosure of fees and general confusion. Read on to learn what professionals in the industry have to say about implementation.