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Fitch Ratings affirmed Stewart information Services Corp.’s issuer default rating and insurer financial strength rating. It said the ratings reflect solid capitalization and modest financial leverage. Keep reading to learn more.
Fitch Ratings upgraded Fidelity National Financial based on market-leading scale, margins and operating company capitalization. However it noted that though past ventures have been successful, historical results do not mitigate future risks. Keep reading to learn more.
Title Alliance announced Preferred Closing Services, LLC has appointed two managers. Regional Director Nancy Marsden said she was confident that their appointments mark the beginning of great growth for Preferred Closing Services. Keep reading to learn more.
reQuire, LLC appointed an industry veteran to its account management team. She will be responsible for bringing the reQuire release tracking solution to existing and future title industry partners in Florida. Keep reading to learn more.
Clark County became the 45th county in Wisconsin to implement eRecording. Register of Deeds Peggy Walter said her decision to implement eRecording stemmed from the CFPB regulations going to effect later this year. Keep reading to learn more.
RealtyTrac and Down Payment Resource released a joint analysis examining affordability, median income, median home price and homeownership program availability in 370 U.S. counties. Each county was ranked on its affordability and accessibility for low down payment buyers. Keep reading to learn more.
Empower version 5.1.4 will enable clients to perform production-level testing of the capabilities designed to support the TRID rule. As testing of the latest version is finalized, Black Knight may release additional version of the LOS in the coming months. Keep reading to learn more.
Whether it’s Aug. 1 or Oct. 3, life will go on post-TRID implementation, according to a National Settlement Services Summit (NS3) panel of underwriters featuring Westcor, Old Republic Title, First American Title Insurance Co., Alliant National Title and Stewart Information Services. Westcor President and CEO Mary O’Donnell said bankers will still get up and go to banks, and Realtors will still take people to see homes. Read on to learn more.
The Consumer Financial Protection Bureau (CFPB) went live with an enhanced public-facing consumer complaint database. It includes for the first time more than 7,700 consumer accounts of problems they are facing with financial companies concerning mortgages, bank accounts, credit cards and debt collection. Keep reading to learn more.
The United Services Automobile Association (USAA) signed an agreement to implement Black Knight’s Closing Insight. Lenders and their service providers can begin using the new Closing Insight solution when the CFPB’s TRID rule deadline goes into effect later this year. Keep reading to learn more.
Stewart appointed a new sales director for the western states agency district. He will responsible for building an effective sales strategy to attract new independent agencies and service existing ones. Keep reading to learn more.
NextAce named a new chief operating officer. He will responsible for day-to-day operations of the company. Keep reading to learn more.
The effective date for the TILA-RESPA Integrated Disclosure (TRID) rules might have changed, but the enforcement after it takes effect has not. In an open forum with regulators at the National Settlement Services Summit (NS3), panelists discussed what it means for the Consumer Financial Protection Bureau to be “sensitive” to “good-faith efforts” for TRID compliance. Read on to find out what you will need to do to follow the straight and narrow once TRID takes effect.
eClosings are becoming a reality around the country. During the 2015 National Settlement Services Summit, three panelists shared their experiences and observations with the technology. Read on to see what they had to say.
DocMagic instituted a phased testing approach of its SmartCLOSE collaborative closing portal for TRID compliance with select clients. It was made available to almost 250 lenders to start working with the system and provide comments. Read on to learn more.
Agents National Title Insurance Co. successfully completed the SSAE 16 SOC 1 audit. Read on to learn more.
Foreclosures on U.S. properties decreased 5 percent from April to May, according to RealtyTrac’s Foreclosure Market Report. Keep reading to learn more about this trend.
Purchase loans as a percentage of lenders’ overall mortgage volume rose for the third straight month in May according to Ellie Mae’s Origination Insight Report. Read on to learn more.
The proposed new effective date for the TILA-RESPA Integrated Disclosure rules will be Oct. 3, the Consumer Financial Protection Bureau announced. The bureau said it was proposing an Oct. 3 effective date rather than Cordray’s recent announcement of Oct. 1 because it would launch TRID on a Saturday, as it would have Aug. 1.
STRATMOR Group announced the results of a recent PeerViews Survey on the industry’s readiness to comply with the CFPB’s TRID rule. According to the survey, lenders would not have been ready to comply with the Aug. 1 deadline. Keep reading to learn more.
Randy Bradley, executive vice president and board member of Mother Lode Holdings Co. sat down with The Title Report to discuss industry regulations. He said despite varying state laws and the CFPB his team will be ready to implement TRID. Keep reading to learn more.
Easy Soft’s new EasyCDF real estate closing software helps attorneys facilitate closings in-house. It takes users through the entire closing process step-by-step with built-in safeguards that help eliminate the possibility of errors. Keep reading to learn more.
Stewart Title Commercial Services added a new senior business development officer. He will responsible for company-wide commercial business. Keep reading to learn more.
Adeptive integrated with NotaryLoop. This allows title agencies to submit loan information to their preferred notary signing services. Read on to learn more.
NAILTA named its third president of the association. He succeeds Anthony Affatati. Read on to learn more.
San Diego County in California now is accepting electronic land documents. San Diego County Assessor-Recorder-County Clerk Ernie Dronenburg said he estimates 74 percent of the documents are qualified to use this process. Keep reading to learn more.
Title Alliance appointed a manager to its Virginia Beach office. She recently has passed her Virginia state title insurance licensing exam and is awaiting state appointment. Keep reading to learn more.
RealtyTrac released its first quarter 2015 U.S. Home Purchase Down Payment Report. It showed the average downpayment for single family homes, condos and townhomes in the first quarter was 14.8 percent. Keep reading to learn more.
The California Title Co. appointed a new president as Jim Waterman announced his retirement. The new leader has a “tremendous amount of experience, knowledge and leadership,” the company said. Keep reading to learn more.
The NAIC is continuing to update and modernize the U.S. system of state-based insurance regulation, according to President-Elect and Missouri Insurance Director John Huff. He said regulators are moving forward with the tools they need to protect consumers, especially in light of recent cyberattacks. Read on to learn more.
CATIC has been educating Realtors and lenders in preparation for the TILA-RESPA rule deadline and recently rolled out its new software CATIC PrepExpress. Director of Industry Relations Bob Skalstad sat down with The Title Report to discuss these activities. Keep reading to learn more.
Three Washington D.C.-based title companies aligned to create the TitleConnect Alliance. With 18 offices spread across Maryland, Virginia and Washington D.C., the companies said they can better service their clients by utilizing any closing location within the network. Read on to learn more.
The industry may be given more time to implement the TILA-RESPA Integrated Disclosure (TRID) rule. In an announcement June 17, the Consumer Financial Protection Bureau (CFPB) said it will be issuing a proposed amendment to delay the effective date of the TRID rule until Oct. 1, 2015. Keep reading to learn more about this proposal.
Lighthouse Group strengthened its marketshare and expertise in West Michigan with its merger with Safe Title and its six locations in Holland, Grand Haven, Muskegon, Manistee, Grandville and Grand Rapids. Both have taken agencies from one office to multiple locations in more than a decade. Keep reading to learn more.
Ernst Publishing Co. rolled out a new collaborative fee management system at the recent National Settlement Services Summit (NS3) in Atlanta. The system allows settlement agents to work with lenders to negotiate and manage fees. Keep reading to learn more.
Meridian Title has implemented Axis AI’s Advanced Document Classification and Data Extraction software. The process of installing the solution will be complete in a matter of weeks and will be part of the company’s title plant automation initiative going forward. Read on to learn more.
RealtyTrac released its second quarter 2015 Zombie Foreclosure Report. It showed the total number of zombie foreclosures was down 11 percent from the previous quarter and down 10 percent from Q2 2014. Read on to learn more.
CoreLogic released its April 2015 National Foreclosure Report. It showed foreclosure inventory declined by 24.9 percent. Read on to learn more.
North American Title’s Estero, Fla., branch will open in March 2016. In preparation, the company has hired a business consultant with 18 years of closing experience. Read on to learn more.
As day became evening June 17, the landscape in the mortgage industry changed. More than 19 months after issuing the final TILA-RESPA Integrated Disclosure (TRID) rules that will change the way residential mortgages are conducted, the Consumer Financial Protection Bureau shifted gears and issued a statement that the effective date for TRID would be pushed back to Oct. 1, 2015.
ComplianceEase announced its online compliance management platform ComplianceAnalyzer has been updated to fully support loans originated under the TRID rules. Read on to learn more.
RamQuest announced its Closing Mart digital network now is integrated with NotaryLoop. Read on to learn more.
The U.S. title insurance industry’s risk adjusted capital position improved in 2014, according to Fitch’s “Title Insurers 2014 Risk-Adjusted Capital Adequacy.” This report examines results from Fitch’s title insurer risk-adjusted capital model for 2014. Read on to learn more.
The Title Resource Group has acquired Independence Title in Austin, Texas. The transaction is expected to close following the completion of customary state licensing matters. Read on to learn more.
American Tax & Property Reporting, Inc. grew its leadership team. This new member will be responsible for sales and operations of SmartProp and other planned products in the mortgage lender and real estate information segments. Keep reading to learn more.
Simplifile added St. Lucie County, Fla., and Custer County, Neb., to its eRecording roster. Read on to learn more.
A.M. Best affirmed the ratings of Investors Title Co., Inc. and its subsidiaries Investors Title Insurance Co. and National Investors Title Insurance Co. The outlook for all ratings remains stable. Keep reading to learn more.
CoreLogic released its April 2015 Home Price Index. It showed home prices nationwide increased in April 2015 compared with April 2014. Read on to learn more.
Best Homes Title expanded with its acquisition of Rochester-Hills Homeowners Title Agency. This boosts the agency to 13 full-time service offices across the state. Keep reading to learn more.
Remote notarizations have been controversial since they were allowed in Virginia in 2012. Three years later more states are allowing them as well. Keep reading to learn more about this trend.
Stewart’s network of independent title agencies will be able to engaged Deloitte and Touche to perform a management assertion on their compliance with ALTA’s Best Practices. The goal is to protect lenders and consumers, while maintaining a positive and compliant real estate settlement experience. Read on to learn more.
Centier Bank of Merrillville, Ind., chose Ellie Mae’s Encompass to support its growing mortgage business. Vice President of Mortgage Operations Ronnie Guldberg said the solution is easier for Centier’s loan officers and is customizable. Read on to learn more.
For the fourth 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. Attendees took time out of their panel discussions, education and networking in Atlanta on Monday to help build 30 children’s bicycles and Big Wheels as part of the “Make a Child Smile” charity event, sponsored by Windward Consulting | Software and Adeptive. The bikes and corresponding helmets were presented to Atlanta Ronald McDonald House Charities on Tuesday afternoon. Read on for all the details.
From beards to TRID to simultaneous issuance and data security, panelists at the regulators’ open forum Monday shared a frank discussion of top issues with the audience at October Research, LLC’s National Settlement Services Summit (NS3) in Atlanta.
As the second half of the year approaches, The Title Report spoke to Daren Blomquist, vice president of RealtyTrac, about the housing market. He said the market is strong in terms of volume of sales and there’s a good balance between supply and demand. Keep reading to learn more.
Larimer County, Colo., has selected Landmark from Pioneer Technology Group as its new official records system. It is the fifth county to do so in the state. Read on to learn more.
Capital Title expanded into the Jefferson County and southeast Texas market with three new office locations. Keep reading to learn more.
Two decades of growth and change in the industry has helped Alliance Title & Escrow reach new heights. Alliance has 26 branches in four states, reaching further still through acquisitions made by its parent company. Read on to see how the company has grown and thrived over the years.
October Research, LLC presented its fourth annual industry awards today at its National Settlement Services Summit in Atlanta. Awards were handed out for exemplary accomplishment in the areas of leadership, innovation and philanthropy. Read on to find out the winners.
Fidelity National Financial added two industry veterans as senior vice presidents for National Agency Operations. Read on to learn more.
Commercial real estate appears to be trending the right way, The National Association of Realtors’ managing director of quantitative research said. Read on to find out what he sees for the market today and in the rest of the year.
ISGN Corp. has enhanced its Gators settlement services and vendor management platform to help lenders and servicers prepare for the CFPB’s TRID rules going into effect Aug. 1. The new platform soon will support version 3.3 of the MISMO Reference Model. Read on to learn more.
Carrington Mortgage Services launched MyLoanDetail, a program used to enhance borrower education and online review of individual loan information. Executive Vice President of Mortgage Lending Ray Brousseau and Senior Vice President of Title Services Jim Potter spoke with The Title Report about the program. Read on to learn more.
LenderLive acquired the Walz Group, a provider of regulatory compliance solutions. It will be a stand-alone division of LenderLive, operating under its existing Walz brand. Read on to learn more.
CoreLogic’s Building Permit Database surpassed 28 million residential, commercial and industrial building permits. It also tracks more than 35 permit types. Read on to learn more.
The 11th annual National Settlement Services Summit (NS3) opens its doors today with an even more focused view on the industry-wide changes happening Aug. 1. The Consumer Financial Protection Bureau’s statement last week that it would be “sensitive” to companies making “good-faith efforts” to comply with TRID after Aug. 1 put a whole new set of questions on the table. Read on to find out what answers might be ahead at NS3.
Indecomm is now eRecording in more than 800 counties across the U.S. Its footprint now covers 59 percent of the population. Keep reading to learn more.
A.M. Best affirmed the financial strength ratings and issuer credit ratings for the member companies of Stewart Title Group and the parent holding company. The outlook for all ratings remains stable. Keep reading to learn more.
Nationwide Title Clearing has updated and expanded its training program for all new employees, companywide. Regulations have increased scrutiny and NTC wanted its people to know their job inside and out. Keep reading to learn more about its program.
North American Title Group added a position of assistant controller and separated the position of controller from the director of quality assurance. The company said it was no longer feasible that the two functions remain combined. Read on to learn more.
Westcor has engaged McGladrey, LLP to assist with the evaluation and enhancement of Westcor’s Agency Audit Program to test for compliance with ALTA’s Best Practices. This offers an independent assessment. Keep reading to learn more.
The title insurance industry has a variety of opinions on the CFPB’s announcement that it will be “sensitive” to title agents trying to comply with the Aug. 1 implementation of the TILA-RESPA Integrated Disclosure (TRID) rules. The Title Report asked the industry for their thoughts. Read on to learn what they had to say.
After months of increasing pressure from industry groups and Congress, the Consumer Financial Protection Bureau (CFPB) on Wednesday sought to “ease some of the concerns” about the Aug. 1 effective date for the TILA-RESPA Integrated Disclosure (TRID) rules.
Lodestar Software Solutions is ready to release its Loan Estimate Calculator solution. It will quote settlement costs, title insurance premiums and municipal taxes. Keep reading to learn more.
The American Land Title Association reported title insurance premium increased 11.1 percent during the first quarter of 2015 when compared to the same period a year ago. Keep reading to learn more.
The Board of Directors of the Property Records Industry Association (PRIA) has given final approval to the eRecording Best Practices for Recorders paper produced by the eRecording eXcellence Work Group, under the auspices of the Business Processes and Procedures Committee. Read on to learn more.
Simplifile has opened registration for its two new services, Collaboration and Post Closing. This will enable lenders and settlement agents to communicate and share documents in compliance with the new regulations. Keep reading to learn more.
WFG National Title Insurance Co. promoted one of its own to lead the National Agent Group. He will be responsible for maintaining WFG’s relationship with national title agents as well as spearhead new growth. Keep reading to learn more.
Carrington Mortgage Services is offering The Carrington Loan. There are no closing fees or upfront financing fees, and if any unanticipated lender costs arise, Carrington will issue a credit to cover them. This may include additional title or escrow service charges from the title or settlement company. Keep reading to learn more.
RealEc Technologies is offering training on its Closing Insight tool throughout the month of June. Read to learn where to sign up.
Across the country, settlement service providers are doing their best to protect consumers’ money and personal information, taking great care to educate and arm themselves against the thieves that threaten their business. However, these thieves are smart, coming up with new ways to take what’s valuable. That’s why it’s important to stay up-to-date on the latest schemes attacking your clients and consumers, something a panel will discuss at the National Settlement Services Summit in Atlanta June 8-10. Read on for the details.
A.M. Best is requesting comments from market participants in the insurance industry and other interested parties on the draft criteria report, “Rating Title Companies” and “BCAR for Title Insurance Companies.” Read on to learn more.
Title Alliance has expanded its Maryland footprint once again with its partnership with Keller Williams. The Maryland Title & Escrow office will be located in the Pikesville Market Center. Read on to learn more.
First Nationwide Title Agency has added a long-time commercial real estate veteran with more than 40 years of experience to its ranks. The new title officer and senior commercial reader will be working closely with the agency’s underwriting team. Read on to learn more.
RealtyTrac released its April 2015 U.S. Foreclosure Market Report. It reported foreclosure filings were up 3 percent in April 2015. Read on to learn more.
As part of its ongoing succession planning process, FirstMerit appointed a deputy chief financial officer. He will be leading key functions while working with the EVP and chief financial and administrative officer. Keep reading to learn more.
Cyberthreats to the financial sector might not be imminent, but panelists speaking before the House Financial Services Committee said there remains work to be done to prevent potential attacks. Read on for the details of what they believe the industry needs to do to stay vigilant.
The Consumer Financial Protection Bureau appears to be putting its full rulemaking focus this summer on the mortgage market. Read on for the details of what the bureau says is ahead.
eLynx now is offering an automated data extraction service. This service will enable settlement service providers to upload information so eLynx can extract the data to be used in the Closing Disclosure. Read on to learn more.
Douglas County, Colo., has gone live with the Landmark Official Records System. This will help them streamline the process of recording land records. Keep reading to learn more.
Stewart Lender Services announced the integration of services to create Stewart’s Due Diligence Solution Suite. This integration includes several significant enhancements to its Due Diligence System. Keep reading to learn more.
Auction.com’s Q1 2015 Commercial Real Estate Market Monitor showed the first instance of Q1 quarter-over-quarter increase since 2007. All five sectors saw a year-over-year volume increase in the first quarter of 2015. Read on to learn more.
First American launched its TILA-RESPA Integrated Disclosure Tool Kit for its affiliated agents. It provides a three-step roadmap to help agents prepare for implementation. Keep reading to learn more.
As Congress is looking into efforts to address cybersecurity issues, Corporate Privacy Group CEO Richard Purcell told The Title Report any regulations need to be carefully considered. Read on to find out some of the potential stumbling blocks in creating cybersecurity protections.
Black Knight’s IPO began May 20 as its shares started trading on the New York Stock Exchange. The net proceeds will used to repay a portion of the company’s outstanding debt. Keep reading to learn more.
Stewart Title has partnered with an email encryption provider to comply with the latest industry regulations. CEO Matt Morris said protecting NPI is essential in today’s business environment. Keep reading to learn more.
Alliant National Title Insurance Co. named a new Southwest Region agency manager. He now will be responsible for all agency operations across Texas, New Mexico, Oklahoma, Arkansas and Louisiana. Read on to learn more.
North American Title Group added a new associate regulatory counsel to focus on ALTA Best Practices documentation and obtaining independent certification. She will be working with General Counsel Jeff Howeth in the legal department. Keep reading to learn more.
Harry Gardner, vice president of eStrategies at Ellie Mae, will discuss how settlement agents and their partners can comply with the changing TILA-RESPA Integrated Disclosure rule at the National Settlement Services Summit (NS3) June 10 in Atlanta. Keep reading to learn more about what Gardner and his fellow panel members will be touching on in the run up to Aug. 1
Realogy, a provider of real estate brokerage, relocation and title and settlement services, released its earnings report for the first quarter. The company reported revenue of $1.1 billion, a 5 percent increase year-over-year. Read on to learn how its Title Resource Group performed in the quarter.