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.
OS National is licensed and doing business in a new state. It also announced plans to open a second office in the state within a few months. Read on to learn more.
Homebuyers in New York are overpaying for title insurance, according to a report from OneTitle National Guaranty Co. It says better information and more active shopping among buyers, attorneys and lenders could dramatically reduce costs across virtually every type and size of real estate transaction.
The chairman of Fidelity National Financial today is the owner of a pro sports franchise, after the National Hockey League officially granted Las Vegas an expansion team, with Bill Foley and Black Knights Sports & Entertainment, LLC, as its principal owner. The nickname he wants for the team should be familiar to the industry as well. Read on for the details.
Title Alliance appointed a corporate secretary. He will be responsible for implementing decisions of the Board of Directors; taking minutes at director’s meetings and maintaining corporate records. Keep reading to learn more.
Ernst Publishing Co. integrated First American Mortgage Solutions services into its closing cost search and fee management software. Lenders now have one-button access to First American Mortgage Solutions through Ernst’s software. Read on to learn more.
RamQuest, Inc., announced that its Closing Market digital network now is integrated with NextDeal’s preDOCS. NextDeal CEO Robert Reich said together, RamQuest and NextDeal are ensuring real estate closings comply with ALTA Best Practices and that consumer non-public personal information remains protected. Keep reading to learn more.
The housing recovery had been long delayed and has so far been relatively healthy, but irregular and more moderate than typical, according to Fitch Ratings. Challenges remain, including restrictive credit qualification standards and narrowing affordability. Read on for more of Fitch’s insights.
ePN added 26 county offices across the U.S. to its eRecording network. Whether a jurisdiction is small or largely populated, more counties are making the necessary accommodations to accept official record documents electronically. Read on to learn more.
Greater Illinois Title Co. recently has completed its Service Organization Controls SOC 2 examination under AT Section 101 and its AT 101 ALTA Best Practices Certification. The examination included the company’s controls. Read on to learn more.
AmTrust Title Insurance Co. added a commercial real estate title insurance veteran as chief New York State agency counsel. He has more than 19 years of experience. Read on to learn more.
While buying a home can be exciting, getting a loan could be onerous and confusing. In its recent whitepaper, “A New Home, A New Life: Improving the Borrower Experience,” Docutech lists four steps lenders and all parties to the transaction can take to improve the experience for the homebuyer. Read on to learn more.
In its recent whitepaper, “Collaboration in Today’s TRID Environment,” Simplifile said true collaboration between lenders and agents is crucial for meeting the new requirements under TRID. Using phone calls and emails creates an inefficient, inconsistent process that in some cases could violate the TRID requirements and increase risk. Keep reading to learn more.
First American Financial Corp. released its Potential Home Sales model for May. The model provides a gauge on whether existing-home sales are under or over their long-run potential level, based on current market fundamentals. Keep reading to learn more.
Colonial National Mortgage, a division of Colonial Savings, F.A., is opening a new retail mortgage branch in Little Rock, Ark. This is the first Arkansas location for the lender. Read on to learn more.
The title industry put together its best start to the year in nearly a decade, according to the latest data on title insurance premiums announced by the American Land Title Association. Read on to find out how well the industry is doing, and what might be in store for the rest of 2016.
Counsellors Title Agency, Inc. named a new title officer. According to the announcement he represents many decades of title expertise in which he has served in every capacity of title insurance industry. Keep reading to learn more.
RamQuest, Inc. announced its Closing Market digital network now is integrated with Data Trace. RamQuest customers can now request one-click ordering of Texas tax certificates from Data Trace. Read on to learn more.
The Title Report was back on the road to join the Texas Land Title Association at its Annual Conference and Business Meeting. Plenty of new people and old friends were on hand in Galveston for the event. Read on to learn more about the conference.
Bank of America recently released its latest newsletter to settlement agents, discussing many of the aspects that have remained an issue since the implementation of the TILA-RESPA Integrated Disclosures (TRID) rule, as well as its stance on vendor requirements for title companies. Read on for the details.
Wells Fargo hosted a national panel discussion on sustainable homeownership and access to credit at the National Press Club. The lender also shared the results of its third annual “How America Views Homeownership” survey prior to the discussion. Read on for more details.
A Texas-based national mortgage lender announced it would make its first entry into the Florida market, with industry veterans joining the company as branch manager and regional sales manager. Read on for all the details.
SoftPro announced its SoftPro 360 business exchange platform has added Notary Loop, Inc. as an integrated vendor. The integration allows SoftPro users direct access to Notary Loop’s network of notary signing services from within the SoftPro environment. Read on to learn more.
E-Closing, a provider of cloud-based title processing software, announced the expansion of its integration with Fidelity National Title Group to include closing protection letters. Vice President of Sales and Marketing Marc Hall said this solution will save agents time. Read on to learn more.
ClosingCorp, a provider of residential real estate closing cost data and technology for the mortgage and real estate services industries, announced a new vice president of sales, strategic relationships. He will be responsible for developing and maintaining technology-provider relationships. Keep reading to learn more.
Foundation Title Insurance Co. was assigned a financial stability rating June 9. Read on to learn more.
Continental Title is celebrating its 15th year in Kansas City’s title insurance industry. The announcement said at the foundation of all the agency is the knowledge that the work has an impact on families, and that its efforts can make the process of buying or selling a home smoother and less stressful. Read on to learn more.
ATPR has built a third party integration between SmartProp, its property search product and ResWare. ATPR noted the integration would assist a large number of agencies. Keep reading to learn more.
Title Alliance appointed Brendan Farrell as marketing specialist. He will be charged with helping each individual joint venture manager to assess their needs and to provide them with tools to market their services to the potential customers. Read on to learn more.
Fannie Mae’s Home Purchase Sentiment Index increased in May, reaching a new all-time survey high and rebounding from an 18-month low in March. Keep reading to learn more.
Since Chief Economist Mark Fleming joined First American in late 2014, the company has begun releasing several data indices. When asked why First American was releasing all this information, Fleming told The Title Report more knowledge leads to more power and understanding. Read on to learn more.
Recently, there has been a buzz around the industry about eMortgages. Are these eClosings? Does that refer to Rocket Mortgage? Street Resource Group President Stanley Street supplied some answers to The Title Report. He said they were gaining momentum before the Great Recession and gaining in popularity again. Read on to learn more.
Security Compliance Associates recently released a whitepaper titled, “Are you GLBA Compliant: An examination of GLBA and Certification Requirements.” It discussed the requirements under the Gramm-Leach-Bliley Act and ALTA Best Practices. Read on for details from the whitepaper.
LenderLive announced a new organizational structure aligning its various business divisions under two broad units. LenderLive Services, LLC will house settlement services and LenderLive Document Services. Read on to learn more.
Building for the future of the title industry, Florida-based Southern Title has formed its own compliance division and set to work on ensuring that the company will have practices and policies in place to remain compliant throughout the business. Read on for all the details.
For the fifth year in a row, attendees at October Research, LLC’s National Settlement Services Summit got together to help make a difference in the lives of area children. Read on for details of the charity presentation, and how the “simple pleasures help our children and families feel a sense of normalcy.”
Arizona will see a new office from Thomas Title and Escrow opening next week. Read on for details of the latest company expansion.
The National Settlement Services Summit in Charlotte, N.C., opened with a forum discussion on today’s hot regulatory and compliance topics. With state and federal regulators on stage, the discussion included dispute resolution with the Consumer Financial Protection Bureau, TRID, marketing services agreements and more. Read on for the details.
Like tag team wrestlers, escrow officers and sales team members need to work together, a panel at the American Escrow Association Annual Conference said. Read on for more insights that October Research, LLC, was able to gain from attending the session.
First International Title opened Florida offices in Titusville and Perdido Key, with additional offices scheduled to open this month in St. Augustine and Doral (Miami). First International Title CEO Jim Moran said the company has assembled a terrific group of people who will help with this growth going forward. Keep reading to learn more.
RealtyTrac released its Q1 2016 U.S. Home Flipping Report, showing 6.6 percent of all single-family home and condo sales in the first quarter of 2016 were flips. This is a 20 percent increase from the previous quarter and up 3 percent from a year ago. Keep reading to learn more.
The latest Ten-X Residential Real Estate Nowcast projects continued growth in existing home sales for May, both from a month and a year earlier. Read on for the details.
For the fifth year, October Research, LLC, presented its annual awards for leadership, innovation and philanthropy, with some of the brightest stars in the title industry recognized for their work. Read on for the details.
Representatives of the Federal Trade Commission and the National Institute of Standards and Technology recently spoke about the way information security and cybersecurity affects small businesses, and steps those businesses can take to protect themselves. Read on for the details.
Stewart Title appointed a senior business development officer for its Dallas office. He will concentrate his efforts on expanding Stewart’s local, national and international commercial business by supporting and developing new business relationships and sales in the Dallas-Fort Worth, Texas area.
Indecomm Global Services announced it launched InteleDoc Direct eRecording Platform with Recopedia, Indecomm’s national recording toolkit. The platform will allow Indecomm or client-directed submissions with minimal data entry at any point in the process, the company said. Read on for the details.
In Part I of our two-part series, we talked about companies using creative solutions to staff the industry during the upcoming busy season. In Part II we are discussing the training that candidates receive once they are placed full-time with a title company. Keep reading to learn more.
Hoping to keep the industry on a fast track to compliance and business building, the 12th annual National Settlement Services Summit (NS3) opens its doors today at the Sheraton and Le Meredien hotels in Charlotte, N.C. Read on for a preview of this year’s NS3.
Passport Title’s operating model has been declared fully compliant with ALTA Best Practices, a certification that extends to its existing community of title agent partners as well as to title agencies and individual attorneys and lay title agents when they choose to partner with the agency. Read on to learn more about this company’s partnership model.
In its latest quarterly newsletter to settlement agents, Wells Fargo thanked agents for their efforts since the implementation of the TILA-RESPA Integrated Disclosure (TRID) rule, and updated work on Closing Insight adoption and master closing instructions. Read on for the details.
Old Republic announced it has created a new holding company for its Old Republic Title Insurance Group, and has promoted a long-time title insurance veteran to lead the company. He will lead all revenue-producing, direct and agency operations, commercial operations, and technical service operations and entities in the Title Group. Read on for more.
The Board of Governors of the Federal Reserve System released its Beige Book, on June 1. The latest report said construction and real estate activity generally expanded since the last report. Read on for the details.
Being irresistible is being too tempting for people not to be attracted to you, according to Founder/CEO Lori Coruccini. October Research, LLC attended her presentation at the American Escrow Association (AEA) conference, where she expressed the importance of objective information and behaviors in the workplace. She said employers need to “continually attract” their employees. Read on to learn more.
Marketplace Title announced that it has added licensed title agent/escrow officer. The company has expanded to include seven employees. Read on for the details.
Mortgage Cadence LLC, an Accenture company, announced an integration with DocuSign, Inc. and eOriginal, Inc. This new integration helps to expedite the mortgage origination process. Read on to learn more about this partnership.
Fidelity National Title Agency, a member of the Fidelity National Financial family, named its newest two employees. They will join the team at its new Camelback Lakes Commercial Branch. Read on to learn more.
The Consumer Financial Protection Bureau (CFPB) has taken action against a former Wells Fargo employee for an illegal mortgage fee-shifting scheme. It found that a loan officer referred a substantial number of loan closings to a single escrow company, receiving a commission in the process. Read on to learn more.
Recruitment in the title insurance industry isn’t always easy. New hires often come from industry partners or through family members. Two companies have taken creative approaches to the practice. Read on to learn more.
First National Title Insurance Co. (FNTI) now is licensed and fully operational in Florida. This is the fourth state the underwriter is licensed in after Texas, Arizona and New Mexico. President and CEO Chris Phillips and National Agency Manager DJ Horn spoke with The Title Report about their new venture.
Stewart Title named a new commercial services business development officer. This is his second time he’s been with the Stewart team. Read on to learn more.
WFG National Title Insurance Co. has named a new underwriting counsel for its New England Agency group. She will provide underwriting support, guidance and education for the underwriter’s New England region title agencies. Read on for the details.
Sun Title is expanding its commercial division with the hiring of a professional to focus on commercial business development. He brings 49 years of experience in the title industry, including 26 years in commercial title. Keep reading to learn more.
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.