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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.
Fidelity National Financial Inc. has created a fund to help employees impacted by Hurricane Harvey. FNF also is partnering with a non-profit to raise funds to help other Gulf Coast residents struggling with the hurricane’s aftermath.
The Federal Reserve’s latest Beige Book said the economy is expanding, despite low inventories of homes, rising prices and not enough new construction that is hampering real estate activity. In some markets, Fed districts reported that sales are shifting to lower-priced homes from higher-price units
In a new whitepaper, the Mortgage Bankers Association says it believes that the Consumer Financial Protection Bureau too often uses enforcement actions rather than written guidance. Five years into the bureau’s existence, MBA said now is the time for the bureau to make key changes to its approach that would benefit both consumers and the industry.
LenderLive’s new chief financial officer spent more than a decade overseeing all aspects of finance at a financial technology company, as well as leading that company’s capital raising process and overseeing acquisitions. The new hire also previously held several senior finance positions at General Electric.
Direct Title Solutions announced a new integration that will enable Qualia customers to order title abstract and recording services in Florida, Maryland, New Jersey and Virginia.
WFG National Title Insurance Co. has selected one of the Michigan Land Title Association’s board members to serve as its Michigan counsel.
Throughout Texas, employees of title companies and underwriters have lost homes and possessions and have been displaced by Hurricane Harvey. Some title company offices have been destroyed and need office furniture to rebuild.
Alliant National Title Insurance Co. has created a fund to assist its title agents, their employees, their families and their communities with costs and expenses not covered by insurance or other means of recovery.
CATIC is partnering with the American Red Cross and one of its business partners to aid victims of Hurricane Harvey.
CoreLogic has provided seed money to support the launch of a new disaster fund designed to support victims of man-made and natural disasters such as Hurricane Harvey and Hurricane Irma.
First American Financial Corp. CEO Dennis J. Gilmore told The Title Report that he marveled at the resilience of everyone in the real estate, mortgage finance and title industries in the aftermath of Harvey, and is humbled by the compassion and generosity of our people.
Even before Houston’s flood-ravaged streets were passable, the North American Title Group and its associated companies had raised more than $1 million for victims of Hurricane Harvey.
Old Republic is using the strength of its large employee network to aid Gulf Coast residents impacted by Hurricane Harvey. The company is matching donations made by its employees and distributing those funds to two non-profits.
A former Michigan title company owner nearing the end of his second term in the U.S. Congress has decided not to seek re-election in 2018. In a statement announcing his decision, the congressman – who serves as a member of the House Financial Services Committee – said his intent all along was to serve for a brief time and then return to the private sector.
HomeServices of America has expanded its massive holdings with the addition of the nation’s top privately owned real estate brokerage. Among the holdings that were acquired are 10 settlement services companies in Virginia, West Virginia, Maryland, Delaware, New Jersey, Pennsylvania, North Carolina and the District of Columbia.
AmTrust Financial Services, Inc. recently entered into a new quota share reinsurance contract that reduces the company’s exposure to and lessens financial volatility related to all catastrophe events, including hurricanes and tropical storms.
Although second-quarter loan originations did not match 2016’s, they did increase from the first quarter. .
During August, the percentage of Americans who said now was a good time to sell a home and that mortgage rates will continue to decline both increased.
Jersey Mortgage said its new accounting software gives it the ability to analyze data rather than just type in data.
Despite an industry-wide drop in refinances and increases to the Federal Reserve's benchmark short-term interest rate, title insurance premiums rose during the second quarter, according to ALTA’s market share analysis.
A Texas title company is opening four new branch locations in the Dallas-Fort Worth area. The company also is adding an educational and training facility that will offer both onsite classes and a video-conferencing solution to enable remote learners to join instructor-led training.
A Washington, D.C.-based title company has launched a new website designed to help real estate professionals order title and receive quotes online. The company’s president said the new website enables it to receive time-critical information quickly and to process requests more efficiently.
General Title Insurance Co. has hired an Indiana underwriting counsel who previously directed the title insurance division for Indiana.
The integration enables OpenClose customers to draw all title and settlement fees directly from within its loan origination system, eliminating data entry, saving time and ensuring fees are fully accurate and TRID compliant.
Omni Title LLC has hired a chief title officer with nearly three decades of experience.
Businesses from every part of the title insurance industry are stepping up to aid in the massive recovery effort that will be needed in the aftermath of Hurricane Harvey. A Texas-based title company will donate a portion of settlement fees received during September to relief efforts, and that sum will be matched by its underwriter. They are among a number of public donations recently announced, including a large donation from one of the nation’s largest homebuilders.
A title company based in North Dakota recently announced the opening of a second office to help serve its region. The president of the company joined staff at a recent ribbon-cutting ceremony to mark the opening of the second office.
With its agreement to buy a leading sales acceleration platform, Ellie Mae said it is one step closer to achieving its vision of offering a fully digital mortgage. The software company said the combination of its Encompass platform with the sales acceleration platform will deliver a complete digital lead capture and conversion solution for creating interest, turning that interest into an application and then funding that loan quickly and at a low cost.
Title Data and NextAce announced a partnership through which NextAce’s customers will have access to TDI’s title plants, which cover more than 80 percent of Texas.
North State Bank in Raleigh, N.C., has promoted its chief financial officer to executive vice president.
As Gulf Coast residents scramble to get their lives in order following Hurricane Harvey, the Consumer Financial Protection Bureau is urging financial institutions to be flexible with consumers.
Stewart Information Services Corp. has selected a former Nationstar and Fannie Mae executive to replace Chief Financial Officer Allen Berryman, who announced his retirement earlier this year. CEO Matt Morris said the newest member of Stewart’s executive team brings deep real estate and private equity sponsor experience.
Westcor Land Title Insurance Co. has hired a Michigan representative who has served as general counsel for two large underwriters.
Gibraltar Title Services’ new associate counsel has represented companies and individuals in contract negotiations, corporate governance and real estate closings for more than 15 years.
First International Title recently added a senior escrow officer and a business development executive to its staff.
Although some of the cities ATTOM Data Solutions is predicting will have strong housing sales during the third quarter are not surprising, others are.
Florida-based Professional Title Agency announced the addition of several new staff members, including two processors and three closing agents.
eRecording Partners Network has added jurisdictions in Florida, Georgia, Illinois, Michigan, Mississippi, Missouri, New Hampshire, New Jersey, New York, Ohio, Oregon, Tennessee, and Texas.
Attorneys Title Guaranty Fund, Inc. announced that the company has generated eight consecutive profitable quarters. The company’s president said the Denver-based firm will turn its focus toward growing its network of independent title agents and expanding its geographic footprint beyond Colorado, Utah, Minnesota and North Dakota.
Despite Congress’ failure to enact tax reform or to repeal Obamacare, small-business owners in July were more optimistic about the country’s business environment than they were in June, according to the National Federation of Independent Business.
AmTrust Financial Services, Inc. has shuffled its corporate deck, pulling in the leader of one of its U.S. subsidiaries to serve as its chief information officer.
According to Freddie Mac, this year’s home sales will outpace last year’s. However, home sales for the year would be even higher if more homes were available.
After making gains in June, both the number of building permits issued and housing starts dropped during July, according to the Census Bureau.
RynohLive’s new director of security and product development has developed web applications within the timeshare, real estate, mortgage, hospitality, and defense contracting industries.
Fidelity National Financial Inc. has hired RedVision’s former executive vice president of sales and marketing to oversee its product and business development.
Berkshire Hathaway HomeServices Homesale Realty has hired the former president of Coldwell Banker Preferred to oversee its sales management and office operations.
Pavaso has become the fourth provider authorized to facilitate eNotary services in Arkansas.
RynohLive has selected a vice president of marketing who has experience in the legal, hospitality, gaming, real estate settlement and information technology industries.
Qualia’s new title settlement software extension will help title agents and real estate attorneys reduce vendor collaboration challenges and closing delays, the company said.
Read on for more details
Old Republic has brought an executive from one of the world's largest and most successful asset management firms onto its team. The former Vanguard Group executive has experience in strategic planning, innovation initiatives, and investment stewardship.
An Ohio title company based in Columbus has opened a new branch in another part of the state. The owner of the title company is a well-known industry veteran in the Buckeye State and has a special connection to the area in which her company’s new branch is located.
Equity National Title has tapped a former First American and Stewart executive to expand its national sales base, the company announced.
According to ATTOM Data Solutions’ Q2 2017 U.S. Home Equity & Underwater Report, an increasing number of U.S. homeowners are amassing impressive stockpiles of home equity wealth.
Indecomm Global Services’ eRecording platform now reaches more than 64 percent of the U.S. population.
LenderLive Network has hired a regional account manager to work with its clients in the Northeast.
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.