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TitleOne acquired Idaho-based Sun Valley Title Co. The company will continue to operate under the Sun Valley Title brand for the near future. Read on to learn more.
OneTrust Home Loans chose Simplifile as its partner and online service provider to collaborate with settlement agents and meet compliance requirements for TRID. This allows OneTrust to connect with settlement agents nationwide. Read on to learn more.
Arkansas Insurance Commissioner Allen Kerr approved Alliant National Title Insurance Co. to write title in his state. Alliant currently is licensed in 17 states and writes title in 11 jurisdictions. Read on to learn more.
RedVision completed the comprehensive SOC 2 Type 1 examination. This independent affirmation confirms that RedVision’s critical controls effectively are managing the security, availability and confidentiality of client information. Keep reading to learn more.
The MBA projects 13.9 million to 15.9 million additional households will be formed by 2014.This would make the next decade the strongest in U.S. housing history. Read on to learn more.
First American Financial released its Loan Application Defect Index for July 2015. It showed an increase of 4.9 percent in July compared with June. Read on to learn more.
First National Title Insurance Co. added three vice presidents to its ranks. FNTI President Chris Phillips said they will bring a strong customer service attitude to the company’s existing and new agents. Read on to learn more.
Recruitment has always been difficult in the title insurance industry, unless there’s a family connection. In any industry, it’s important to keep a pipeline open for new talent to keep a company viable and healthy. To do this, several professionals within the industry said it’s important to expand their efforts.
The Office of the Inspector General audited the U.S. Department of Housing and Urban Development’s oversight of its Home Equity Conversion Mortgage program. Of the 68 loans selected for review, the borrowers for as many as 67 loans did not live at the properties associated with their loans. Keep reading to learn more.
RealtyTrac released its July 2015 U.S. Home Sales Report. It said home sales in 2015 are at an eight-year high. Read on to learn more.
Economic growth in the second quarter was weaker than expected, according to Fannie Mae’s Economic & Strategic Research Group. However, there is some hope for the housing sector. Read on to learn more.
WFG National Title Insurance Co. appointed a new underwriting counsel for its agency group in West Virginia. He also will serve as a secondary underwriting resource in Virginia. Keep reading to learn more.
The CFPB released its monthly consumer complaints snapshot. The report spotlights credit reporting complaints, which sharply increased compared with the prior month and year. Read on to learn more.
First Lenders Data, Inc. (FirstClose) is offering instant title searches through new proprietary software. Lender and title companies can use this automated software on second mortgages, equities and refinance transactions. Read on to learn more.
RealtyTrac Vice President Daren Blomquist spoke to The Title Report regarding home originations in the second quarter. He said there’s cause for a big sigh of relief. Keep reading to learn more.
Home prices continued to trend upward according to the S&P/Case Shiller Home Price Indices. Denver, San Francisco and Dallas reported the highest increases. Read on to learn more.
Alliant National named an agency representative for the southwest region’s agency network. He will develop, maintain and expand the marketing and management policies for the region. Keep reading to learn more.
Title Junction LLC is expanding its social media efforts with a new hire straight out of Florida Gulf Cost University. She said she’s really excited about the new job, as well as working for business owned and operated by a woman. Read on to learn more.
Velocify solutions now are available through Ellie Mae’s Encompass. The integration allows lenders to order these solutions through Encompass. Read on to learn more.
Stewart Title announces leaders to service the Midwest Division as well as a new agency services manager for the state of Georgia. Executives from both districts were excited about the appointments. Read on to see what they had to say.
DocMagic, Inc., named a chief compliance officer. He will develop, implement and maintain the company’s compliance products and services. Keep reading to learn more.
The FHA announced a new method for evaluating the lending practices of FHA-approved lenders. The new metric will complement the agency’s existing compare ratio and offer a more nuanced insight into a lender’s specific performance while encouraging lenders to serve eligible underserved borrowers. Read on to learn more.
Two Rivers Title adds two new members to its team. The company is based in Little Silver, N.J., and provides settlement services to the majority of its clientele, which consists of law firms and lenders. Keep reading to learn more.
Several states are addressing their data breach notification laws to amp up their cybersecurity efforts. Notifications must be sent to affected consumers in shorter time frame explaining the breach itself and the company’s efforts to resolve it. Read on to learn more.
The MBA released its mid-year ranking of commercial and multifamily mortgage servicers’ volumes. Wells Fargo and PNC/Midland are the largest master and primary servicers of commercial/multifamily loans. Read on to learn more.
Colorado Governor John Hickenlooper appointed nine members to the newly created title insurance commission. It was created in the last legislative session. Read on to learn more.
As title companies become more responsible for their actions as third-party vendors for lenders, with fourth-party oversight of their own vendors, finding guidance on how to remain compliant sometimes can be tricky. A recent enforcement action from the Federal Trade Commission contained some lessons title agents can use to remain compliant with third-party liability responsibilities. Read on for the details.
NextDeal partnered with Adeptive’s ResWare to provide a seamless integration between the technologies. Title agents using ResWare can have their files automatically sent to NextDeal to power their post-close marketing. Read on to learn more.
REDS named a new director of marketing and sales from within the title insurance industry. CEO and founder Chris Gulotta said her experience will allow her to appreciate the challenges the industry is facing. Read on to learn more.
Two Midwestern counties implemented eRecording. Their respective clerks were enthusiastic about the technology. Keep reading to learn more.
In the presentation at the Consumer Financial Protection Bureau’s eClosing forum, few mentions of TRID – the TILA-RESPA Integrated Disclosure rule – were made after weeks of the phrase dominating conversation in the mortgage lending world. Yet the new mortgage lending process that will take place beginning Oct. 3 had a definite role in the eClosings pilot program, and in the future of mainsteam adoption for eClosings. Read on to find out how.
First American Financial Corp. launched new PredProtect enhancements, along with the availability of its Release Candidate (RC) testing site. It was developed to meet the needs of banks and mortgage lenders in complying with the TRID rule. Keep reading to learn more.
DocMagic’s SmartCLOSE was moved to a secure cloud-based production environment for its official release. It now is ready for TRID implementation. Keep reading to learn more.
Calyx Software released PointCentral Version 9.2. Mortgage lenders now can originate loans and deliver TRID-compliant Loan Estimates and Closing Disclosures immediately. Read on to learn more.
Zodiac Title Services added a business development guru to its team. Read on to learn more.
ClosingCorp announced its Loan Estimate Service now is integrated with Loan Origination Studio from Savana, Inc. Beginning Oct. 3, it will be able to provide validated fee information to populate the new Loan Estimate (LE) mandated by the TILA-RESPA Integrated Disclosure (TRID) rule. Keep reading to learn more.
RealtyTrac released its second quarter 2015 U.S. Residential Loan Origination Report. Loan originations are up 22 percent from the previous quarter and up 23 percent from a year ago. Keep reading to learn more.
In a recent webinar The Title Report provided a comprehensive webinar for title and settlement agents looking to improve communications with lenders and Realtors. The presenters offered tips for effectively communicating to ensure a shared understanding of important operational issues pertaining to TRID implementation. Keep reading to learn more.
Access Title Agency, LLC opened a new office in Michigan. This is the second location for the Florida-based title insurance agency. Keep reading to learn more.
Prism Title appointed a new vice president and general counsel. He will lead the title examination team of eight examiners. Read on to learn more.
The National Title Solutions department of North American Title has a new leader. He will serve as manager and senior counsel. Read on to learn more.
Near North Title Group named a new general counsel and vice president-senior underwriter of Near North National Title, LLC. He joins the agency after more than a decade underwriting national and local transactions. Keep reading to learn more.
It’s all in the attitude. At October Research, LLC’s National Settlement Services Summit earlier this summer, U.S. Bancorp Chairman, President and CEO Richard Davis spoke about the pros and cons of our current regulatory landscape and what he thinks the financial and settlement services industries can do to lead the country out of the Great Recession.
Fidelity National Financial named a vice president of agency technology. He will develop new technologies and make decisions on technology that will help the company’s agents be successful in the evolving title insurance market. Keep reading to learn more.
Ellie Mae named a chief security officer to oversee the company security program, including operations, engineering, governance, risk and compliance. He said he is delighted to be joining this innovative company at such an exciting time. Read on to learn more.
Abstrax, LLC integrated with Adeptive Software’s ResWare platform. The integration will improve efficiency in the title search process, the companies said. Read on to learn more.
Landtrust National Title named a new vice president of sales. He will help develop and grow the business by focusing on attorney partnerships and increasing the company’s footprint. Keep reading to learn more.
First National Title Insurance Co. reported its second quarter earnings as well as celebrated the one year anniversary of its mobile app and new additions to its team. Keep reading to learn more about FNTI.
KeyBank Mortgage selected Black Knight’s Empower loan origination system to support its expanding operations. Empower automates the various processes involved in originating a loan. Keep reading to learn more.
Woody and Buzz couldn’t have said it any better. When Federal Housing Finance Agency Director Mel Watt took to the stage to deliver closing remarks at the Consumer Financial Protection Bureau’s eClosing forum, the former real estate attorney had one clear message to deliver: You’ve got a friend in me. Read on to find out why, and the story behind a four-day closing Watt conducted early in his career.
reQuire, LLC appointed a mortgage industry veteran as CEO and member of its board of directors. He will be responsible for fulfilling the company’s growth strategy. Read on to learn more.
Brady & Kosofsky obtained a service auditor’s review for the SOC 2 Type II and the American Land Title Association (ALTA) Best Practices under section 9540 under the American Institute of CPA’s Statutory Codification. Read on to learn more.
Investors Title Co. announced its results for the second quarter ended June 30. Net income attributable to the company increased 22.1 percent. Keep reading to learn more.
Westcor is seeing success with its agency compliance program according to the company’s recent announcement. Chief Financial Officer Mike Schefstad said he is pleased with the response he has seen from the lending community. Read on to learn more.
Old Republic is changing the name of its default management services operation. President Mark Bilbrey said the new name will better describe the resources and abilities to enhance existing service offerings and develop new solutions. Keep reading to learn more.
The City of Stamford has implemented eRecording. It joins 34 other eRecording jurisdictions in Connecticut. Read on to learn more.
Industry representatives at the Consumer Financial Protection Bureau’s eClosing forum largely were supportive of the findings of the report on the bureau’s pilot program. The report spelled out the benefits gained by consumers in the transactions as well as the challenges presented in making eClosings a reality for the mortgage industry. Experts said there are challenges for the industry as it looks to mainstream the adoption of eClosings. Read on for the details.
October Research, LLC recently attended American Land Title Association (ALTA) President Diane Evans’ speech at the Texas Land Title Association Annual Conference. She said title agents need to become their own advocate. Keep reading to learn more.
Ellie Mae, a provider of innovative on-demand software solutions and services for the residential mortgage industry, reported results for the second quarter ended June 30, 2015. Keep reading to learn more.
WFG National Title Insurance Co. named a sales representative in its New England Agency Group. He will work to further grow the company’s base of independent title agents in New England. Keep reading to learn more.
North American Title Insurance Co. added state agency managers in the Great Lakes region as well as the Southeast region. Each has almost 30 years of experience. Keep reading to learn more.
RealtyTrac released its Q2 2015 U.S. Home Equity & Underwater Report showing the number and share of seriously underwater properties. RealtyTrac Vice President Daren Blomquist said slowing home appreciation in 2015 has resulted in the share of seriously underwater properties plateauing at about 13 percent of all properties with a mortgage. Keep reading to learn more.
Consumer Financial Protection Bureau Director (CFPB) Richard Cordray told an audience gathered Wednesday at the bureau’s headquarters the CFPB was “strongly supportive” of eClosing efforts based on the findings of a report from this year’s pilot program. There were, however, no mandates from the CFPB on the process, although Cordray said the report should “spur further industry action.” Read on for the details.
The Consumer Financial Protection Bureau released a report summarizing the findings of its eClosing pilot program. The bureau will host a forum this afternoon to discuss the results, and October Research, LLC will be on hand in Washington D.C. with full coverage. Read on for a look at the initial findings of today’s report.
Black Knight Financial Services announced its financial results for the second quarter and six months that ended June 30, 2015. In May, Black Knight successfully completed its initial public offering. Keep reading to learn how it performed. Read on to learn more.
First International Title expanded with an addition office in Bradenton, Fla. Read on to learn more.
Investments in technology, education and testing to implement TRID have and will likely continue to boost expenses and trim profits for mortgage participants over the near term, according to Fitch Ratings. Read on to learn more.
CSC launched ePrepare Mobile, a free app designed to manage electronically submitted real estate documents. It is also now an approved eRecording vendor in four more counties. Keep reading to learn more.
Kensington Vanguard named a new vice president, who will be based in the Garden City, N.Y. CEO Brian Cooper said his extensive experience and impeccable reputation in the industry will significantly strengthen the company’s Long Island-based team. Keep reading to learn more.
RealtyTrac, a source for comprehensive housing data, hired a new CEO for its rapidly expanding data file licensing business to continue building on the company’s double-digit revenue growth cultivated over the last 3 1/2 years. He will begin Aug. 17. Keep reading to learn more.
Wells Fargo announced that it will exit all its marketing services agreements (MSA) with real estate professionals and builders, beginning Aug. 1, over a period of 90 days. The lender cited uncertainty surrounding regulatory oversight of MSAs as a prime reason behind the decision. Industry reaction seemed to support that thought. “All the enforcement has shown, no matter what, they’re not compliant. I think it’s the beginning of the end for MSAs,” one said. Read on for all the details, and stay tuned to The Title Report for more expected announcements on this subject, as well as new expected guidance on TRID compliance and more.
Adeptive announced an integration between ResWare and Property Debt Research. Read on to learn more.
Fidelity National Financial (FNF) continued a string of strong earnings reports from title insurance companies by posting major title revenue gains in the second quarter. The performance was so good, FNF Chairman William P. Foley II said the company should earn a “premium market multiple” compared to its peers in the title industry. Read on for all the details.
First American Financial Corp. named an Aetna executive to its board of directors. Keep reading to learn more.
Ellie Mae announced the United States Patent and Trademark Office issued the company a patent for the Encompass mortgage origination and processing technology. It covers portions of the Encompass automation and loan origination system. Keep reading to learn more.
Reli Settlement Solutions, LLC announced the successful examination in conformity with the SSAE 16 SOC 1 Type 1. CEO Kent Stewart said he wanted to offer the highest protection available to his banking and lending clients. Keep reading to learn more.
Flagstar Bancorp, Inc. named a new president of mortgage. He will be responsible for all aspects of the mortgage originations business.
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau announced new residential sales and construction statistics for June 2015. Read on to learn more.
Stewart named a new chief information security officer. He is charged with enhancing the company’s security and compliance team. Keep reading to learn more.
A recent informal survey by the Mortgage Bankers Association showed that as summer began, two-thirds of lenders still were waiting for code or software from vendors. What should lenders who are behind do? What stories can vendors share to make their voices heard at the Consumer Financial Protection Bureau? Read on for the details.
First American released the First American Loan Application Defect Index for June 2015. The Defect Index fell 5.8 percent in June as compared to May and 11 percent from the same time last year. Read on to learn more.
Encompass received an upgrade to improve mortgage quality, efficiency and compliance before the TRID rule takes effect. It was released to its entire client base of more than 3,000 lending institutions. Read on to learn more.
Old Republic International Corp. reported its earnings for the second quarter of 2015 and half year results. Old Republic Title Insurance Companies Chairman and CEO Rande Yeager said the title segment recorded its best quarterly profit ever. Keep reading to learn more.
Title Financial Corp. is celebrating its 110th anniversary. Current CEO Quinn Stufflebeam and his father, Dwain Stufflebeam, owner and Chairman of the Board, spoke to The Title Report about the company’s history and plans for the future.
CFPB Director Richard Cordray named an acting deputy director to replace Steven Antonakes who announced he was stepping down. He also named an acting associate director for the Supervision, Enforcement and Fair Lending division. Read on to learn more.
Fidelity National Title Agency appointed a new commercial and major accounts assistant vice president. His focus will be on creating strategic business relationships with the commercial real estate market. Keep reading to learn more.
All-cash buyers accounted for 22.9 percent of all single-family home and condo sales in June, down from 24.7 percent of all sales in the previous month and down from 29.1 percent of all sales in June 2014 to the lowest share of monthly cash sales nationwide since August 2008according to RealtyTrac’s June and Midyear 2015 U.S. Home Sales Report. Investor sales in June were also down from a year ago. Keep reading to learn more.
Cook County in Illinois recorded its first electronic deed from Chicago Title using Simplifile. Simplifile Regional Sales Director Mark Moats said many title offices have been waiting for this news. Keep reading to learn more.
First American announced financial results for the second quarter. CEO Dennis Gilmore said the company’s strong results were driven by a healthy spring selling season, continued growth in its commercial business and elevated refinance activity. Keep reading to learn more.
Stewart Information Services Corp. CEO Matt Morris announced the company’s earnings results for the second quarter of 2015. He also said the company will be exiting the delinquent loan servicing operations market. Keep reading to learn more.
WFG National Title Insurance Co., named a new vice president and Michigan state underwriter to its Midwest Agency group. Chuck Cain, executive vice president, agency operations, national and central regions, said this hire demonstrates WFG’s commitment to growth in the Michigan marketplace. Read on to learn more.
The CFPB recently finalized the TRID implementation date as Oct. 3. In its announcement it also declined to institute a grace-period for those in the industry acting in good faith. There are still, however, two bills in committee that would delay enforcement until Jan. 1. Keep reading to learn more.
ClosingCorp, named a new chief financial officer. In this position, he will lead and manage ClosingCorp’s financial affairs including fiscal reporting, budget planning, capital financing and shaping the company’s growth strategy. Read on to learn more.
Ellie Mae entered into a strategic partnership with Fannie Mae to further integrate Fannie Mae’s suite of risk management tools into Encompass. Fannie Mae and Ellie Mae will collaborate to provide joint clients enhanced functionality that will help ensure loans meet Fannie Mae requirements from eligibility to loan delivery. Keep reading to learn more.
The Consumer Financial Protection Bureau (CFPB) issued a final rule moving the effective date of the Know Before You Owe mortgage disclosure rule, also called the TILA-RESPA Integrated Disclosures rule (TRID). The bureau issued the change to correct an administrative error that would have delayed the effective date of the rule by at least two weeks, until Aug. 15, at the earliest. Keep reading to learn more.
The CFPB’s deputy director and SEFL associate director announced he is stepping down from his position to explore opportunities closer to home. He said he’s missed too many class plays, teacher conference meetings and little league games. Keep reading to learn more.
Fitch Ratings has completed a portfolio review covering three insurance groups within the U.S. Title Insurance sector, focused exclusively on application of Fitch’s recently updated notching criteria for the insurance industry. Keep reading to learn more.
Georgia expanding eRecording of land documents and records through Simplifile. Documents now can be scanned, uploaded and submitted directly to the counties where they can be stamped, recorded and returned in minutes. Keep reading to learn more.
Hillsborough Title named a new business development officer to represent the Plant City, East Hillsborough region of Florida. CEO Aaron Davis said he was thrilled to add her to the team. Read on to learn more.
Entitle Direct Group appointed a seasoned title insurance and settlement professional as its division president, western region for business development activities. He will lean EnTitle Insurance Company’s expansion into Southern California. Keep reading to learn more.