North Carolina-based Investors Title Co. reported higher profits for 2015, thanks in part to record revenues, which rose more than 3 percent from 2014. Read on for the details of Investors’ earnings report.
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North American Title Co. acquired Appalachian Title Co. based in Cornelius, N.C., north of Charlotte. In business since 2006, Appalachian Title Co. does business in North Carolina, South Carolina and Tennessee. Read on to learn more.
First National Title Insurance Co. reported revenues for the company’s third full year of operations. CEO Chris Phillips said he was pleased the company hit a revenue milestone in just four years. Read on to learn more.
MVP National Title hired a new title insurance sales professional for business and consumer relationship development. She will be responsible for building relationships with clients and the real estate community. Read on to learn more.
Corporation Service Co. is now an approved eRecording vendor for the Broome County, N.Y. Clerk’s office. The county clerk said this move will help eliminate paper, insure accurate collection of fees and automate a time-consuming process. Read on to learn more.
Holler Law Firm, LLC added a senior vice president for sales and marketing. His primary focus will on national title agencies. Read on to learn more.
Commercial real estate activity should keep expanding in 2016, according to the authors of an annual report published jointly by Situs Real Estate Research Corp., Deloitte and the National Association of Realtors. According to the report, commercial real estate activity is forecast to gradually grow this year, with demand for space holding steady across all commercial sectors. Keep reading to learn more.
CoreLogic’s newest report shows the foreclosure inventory declined by 23.8 percent. Completed foreclosures declined by 22.6 percent compared with a year earlier. Read on to learn more.
Knight Barry has announced it acquired Price County Title and Abstract in Phillips, Wis., on Feb. 5 from Corrie and Jim Marquette. Both will stay to run the branch and help add to the staff in that area, Knight Barry said, also announcing five new office openings. Read on to learn more.
Huntington appointed a new president of Huntington Insurance, Inc. She will reporting to Director of Commercial Banking Rick Remiker. Read on to learn more about her duties.
Great American Title Co. added two new escrow professionals to its closing team. They will be located at The Woodlands – Town Centre Branch. Read on to learn more.
While grounded in a snow storm in Dallas, 12 title insurance professionals met on the 12th floor of a hotel and formed a consortium of title operations. The idea was that each member would be held to the highest industry standards, allowing lender clients to go one place for their title insurance needs. Read on to see who these professionals are and how they plan to meet this high standard.
North American Title Insurance Co. named a state agency manager for Arizona, Colorado and Utah. He will oversee agency operations while securing and servicing title agents and approved attorneys throughout those states to promote new and increased business activity. Keep reading to learn more.
Stewart Lender Services appointed a senior vice president of loan quality while Stewart Title expanded its offerings through zipLogix. Read on to learn more.
Kensington Vanguard National Land Services continued to expand its national platform with the acquisition of a controlling interest in Property Title Group LLC. The Parsippany, NJ-based Property Title Group will continue to be co-managed by industry veterans Donald Cohen and Marilyn Henshaw, who retain ownership interests in the company. Read on to learn more.
CoreLogic released its Home Price Index and Forecast data for December 2015 showing home prices are up both year- over- year and month- over- month. Read on to learn more.
In its Winter 2015 Supervisory Insights, the FDIC provided a cybersecurity framework for businesses. It talked about the evolving threat landscape and guidelines banks can follow to improve their cybersecurity. Read on to learn more.
Stewart Information Services Corp. proposed a plan to reclassify the company’s common stock to eliminate its dual class structure. The proposed reclassification has been unanimously approved by the company’s board of directors. Keep reading to learn more from Fitch Ratings and Demotech, Inc.
Mortgage applications decreased 2.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Jan. 29, 2016. Read on to learn more about the change in loan application volume.
A new RealtyTrac report shows that U.S. home sellers realized an average price gain since purchase of 11 percent in 2015, the biggest average price gain for U.S. home sellers since 2007. What’s behind the gains? Read on for details from the report.
Indiana-based Meridian Title Corp. announced it expanded its tax sale services to five additional states. Read on to find out where Meridian has expanded its services.
Chronos Solutions acquired Commerce Title and Closing Services. This move broadens its title and settlement services offerings in California, the company said. Read on to learn more.
The paper-intensive home financing process is going digital at an accelerated rate, according to an annual Xerox survey. The results of Xerox’s latest survey, Path to Paperless, point to a rapidly changing mortgage landscape. Read on to learn more.
Two state organizations are calling for reform of the state promulgated title insurance rates in Texas, saying the system prohibits competition in the market. “I’m proud to say that competition is alive and well in the Texas title industry,” Texas Land Title Association President Patti Bonner said in response. Read on for more on the issue, and how to stay informed as it develops.
Vendor management and consumer protection are top priorities in the title insurance industry. At the recent Louisiana Land Title Association (LLTA) annual conference panelists for the “Who’s your Vendor-Vendor Management for Title Agents” session included Wells Fargo Business Liaison Manager Kate Steineman, Sterbcow Law Group Managing Attorney Marx Sterbcow and WFG National Title Insurance Co. Executive Vice President-Agency Chuck Cain. Read on to learn what they had to say.
Ernst Publishing Co. named an industry veteran director of strategic accounts, focusing on the lending market. He will be focused on solutions for large lenders, including the addition of new partners and strategic alliances. Read on to learn more.
NATIC has named a vice president, regional underwriting counsel for the Eastern region. She initially will focus on Indiana and Ohio, but eventually will support NATIC agents along the eastern seaboard and into the south. Keep reading to learn more.
MISMO has updated its residential standards in support multiple regulatory and industry reporting requirements. This update has been reviewed thoroughly by a wide range of organizations and industry participants, MISMO said. Keep reading to learn more.
Old Republic National Title Insurance Co. announced the formation of Old Republic Specialized Commercial Services, a business division of its National Services Group. It is organized to provide national commercial due diligence services. Read on to learn more.
Ten-X Executive Vice President Rick Sharga said on a year-over-year basis it looks like January will get 2016 off to a good start. November numbers were low because of delays in closing sales, and December numbers were inflated as lenders worked through the backlog. Read on to see what Sharga projects for January.
RealtyTrac, a source for comprehensive housing data, released its Year-End 2015 U.S. Home Equity & Underwater Report, showing that as of the end of 2015 there were 6.4 million U.S. properties seriously underwater. RealtyTrac Vice President Daren Blomquist said over the past three-and-a-half years, the number of seriously underwater properties has been cut in half. Read on to learn more.
If the implementation of the TILA-RESPA Integrated Disclosure rule disrupted the mortgage market in the fourth quarter, it certainly didn’t show in Old Republic International Corp.’s bottom line. Old Republic reported a record-setting fourth quarter and full year for its Title Insurance segment in its earnings release Thursday. Read on to learn more.
Although many in the industry have been concerned that implementation of the TILA-RESPA Integrated Disclosure rule would slow the housing market in 2016, First American Chief Economist Mark Fleming is optimistic about the industry’s potential. Read on to see why he is, and what Fleming sees for the market this year.
Sales of new single-family houses in December 2015 were at a seasonally adjusted annual rate of 544,000, according to estimates released jointly by the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau. Read on to learn more.
Simplifile has expanded eRecording in Alabama, Georgia, Kansas and North Carolina. President Paul Clifford said the eRecording rate of adoption has continued to grow in the south. Read on to learn more.
F.C. Tucker Co. in Indiana has standardized its real estate transaction process with DocuSign, using DocuSign Transaction Rooms and eSignature. Read on for the details.
Sun Title Agency announced that it had expanded its construction department, with the goal of turning around draw requests within 24 hours of receiving the required documents. How does it plan to achieve this? Read on for the details.
The National Cyber Security Alliance is providing guidelines to help secure private information online. To meet the needs and expectations of their customers, businesses must address their customers’ concerns about privacy and security by being transparent about the data they collect and use and what they are doing to protect it. Keep reading to learn more.
Success Mortgage Partners, Inc., a Plymouth-based full residential retail mortgage lender, announced continued expansion. The company has doubled its size consecutively for two years and hired more than 200 employees, it announced. Keep reading to learn more.
Home prices rose higher in December than they did in the 22 months prior, posting an 8.8 percent year-over-year increase, according to Redfin, a real estate brokerage. There were also fewer homes for sale in December than in any other month of 2015. Keep reading to learn more.
Title Alliance engaged Oread Partners LLC to perform both a SOC 1 and SOC 2 audit of its financial controls and various company systems. The process took approximately six months to be completed. Read on to learn more.
According to LendingTree, average downpayment percentages for a conventional 30-year fixed rate purchase mortgage fell slightly in the fourth quarter. However the average downpayment amount climbed quarter-over-quarter. Keep reading to learn more.
WFG Lender Services named a sales director. He will be tasked with growing the underwriter’s client base. Keep reading to learn more.
Sun Title Agency announced plans to relocate the company’s Grandville, Mich., office to a converted residential house. It will allow the company to expand its presence in the Grandville community, the company said. Keep reading to learn more.
2015 ended with the average time to close a loan holding steady at 49 total days, according to the latest Origination Insight Report released by Ellie Mae. While the average time to close a refinance fell from 49 days to 47 days, purchases climbed one day to 50. Read on to learn more.
North American Title Insurance Co. added a new media production specialist. His expertise and skillset will help the underwriter expand its marketing and educational programs. Read on to learn more.
Ellie Mae announced that Prospect Mortgage has selected and implemented Ellie Mae’s Encompass all-in-one mortgage management solution as its mortgage lending platform. With new federal mortgage regulations approaching, and an outdated, self-hosted solution, Prospect Mortgage said it began looking to update its mortgage automation software. Read on to learn more.
Fitch Ratings says in its latest annual Global Housing and Mortgage Outlook report that it expects housing and mortgage markets to be stable or improve in most of the 22 countries covered in the study. In the United States, nominal home prices have rebounded by more than 25 percent nationally and more than 40 percent in California from their lowest level in 2011. Keep reading to learn more.
Continuing its ongoing growth throughout the country, Carrington Real Estate Services, LLC announced that it has opened a new full-service office in Creve Coeur, Missouri. This expansion will bring the Carrington brand of real estate services and agent support to the St. Louis area and throughout the state of Missouri. Read on to learn more.
National Association of Federal Credit Unions President and CEO Dan Berger said Hyatt Hotels Corp.’s admission of the breadth and scope of its massive credit-card data breach – affecting 250 hotels in 50 countries – underscores the need for Congress to pass national data security data standards for merchants and retailers. Keep reading to learn more.
eXcediant released a customer relations management tool for the title insurance industry. It focuses on three core needs of title insurance industry: security, affordability and settlement software integrations. Read on to learn more.
ClosingCorp named a new head of sales and business development. He will develop customer acquisition strategies and be responsible for building and maintaining relationships with leading loan origination systems and industry settlement service portals. Read on to learn more.
Accurate Group released a new responsive interface for its title services platform. The platform gives banks, mortgage lenders and credit unions on-demand access to analytics and insight into revision rates, turnaround time, and more. Keep reading to learn more.
Westcor Land Title Insurance Co. appointed an Ohio manager. He will be responsible for supporting title agents and strengthening Westcor’s position in the Ohio market. Read on to learn more.
The Colorado Commissioner of Insurance submitted the 2015 annual report on title insurance, which provides data on market trends and enforcement actions taken in 2015. Read on to find out how big the industry is in the state, as well as other market and financial information in Colorado.
The Title Report recently hosted a 90-minute webinar, Navigating the TRID Terrain, which educated title and settlement agents and closing attorneys on overcoming obstacles surrounding the new TRID rule. Recordings now are available. Read on to learn what our experts had to say.
Black Knight Financial Services, Inc. announced its LoanSphere Exchange technology and LoanSphere Closing Insight solution, both offered through its RealEC Technologies division, have achieved certifications from MISMO. Read on to find out what the standards organization awarded to Black Knight.
California existing home sales rebounded in December after new loan disclosure rules delayed closings in November, the California Association of Realtors said. Home sales exceeded the 400,000-unit level in December after falling short in November. Read on to learn more.
A recent report from Fitch Ratings addressed the risk of lender non-compliance with the TILA-RESPA Integrated Disclosure (TRID) rule for private-label residential mortgage backed securities. How much risk should the secondary market expect from TRID loans? Read on to see what Fitch had to say.
The Consumer Financial Protection Bureau (CFPB) is accepting applications for its three advisory boards, Consumer Advisory Board, the Community Bank Advisory Council and Credit Union Advisory Council, as spots become vacant on them. These groups allow the bureau to hear directly from small financial institutions. Keep reading to learn more.
Rekon Technologies has named new vice presidents for sales and marketing and software development. CEO Aurora Marsh said she is delighted to promote these individuals from within. Keep reading to learn more.
Fannie Mae’s Economic & Strategic Research Group’s theme for the economy and housing market in 2016 centers on the challenge of housing affordability coupled with expected modest economic growth, as the expansion progresses through its seventh year. Keep reading to learn more.
Welcome to the latest Conversations with the C-Suite feature, exclusive to The Title Report. In these features, we talk to the leaders of the industry about their thoughts on the industry, plans for the future and what title agents need to know to succeed. In this edition, Editor Tara Quinn spoke with Alliant National Title Insurance Co. CEO Bob Grubb.
Although millennials and younger homebuyers aren’t dominating the housing market yet, research suggests they soon might, and their transactions could be very different than their parents’ transactions have been. The Title Report spoke with several title insurance agents and a technology company about how they are preparing for this upcoming force in the market.
Nationwide Title Clearing, Inc. (NTC), completed its first 25 years of service to the mortgage lending industry. NTC CEO John Hillman said 25 years is a long time to serve any industry, and it only happens when a company has found a way to add real value to the customers it serves. Read on to learn more.
The Data & Analytics division of Black Knight Financial Services, Inc. appointed a mortgage market leader. She will lead the division’s strategy to help clients leverage Black Knight solutions across the entire mortgage and home equity loan lifecycle. Read on to learn more.
Reports from the 12 Federal Reserve Districts indicated economic activity has expanded in nine of the Districts since the previous Summary of Commentary on Current Economic Conditions by Federal Reserve District otherwise known as the Beige Book. The Title Report gathered information on the performance of the real estate and construction industries as well as banking and finance. Read on to learn more.
Stewart Title named a new senior business development officer to serve in the Los Angeles Commercial Services office. She comes with more than 20 years of experience. Read on to learn more.
RealtyTrac, released its Year-End 2015 U.S. Foreclosure Market Report showing foreclosure filings were down 3 percent from 2014. The nearly 1.1 million properties with foreclosure filing in 2015 was the lowest annual total since 2006. Read on to learn more.
PNC Bank N.A. will add its home equity loans and lines of credit to the LoanSphere MSP system over the next year. PNC also signed a seven-year contract extension for MSP. Read on to learn more.
William P. Foley no longer will serve as an executive officer of Fidelity National Financial, but will retain his other positions in the company and with Black Knight Financial Services. Read on to learn more.
SoftPro now is integrated with CSC for eRecording with its business exchange platform, SoftPro 360. SoftPro users are able to transmit electronic real estate documents to jurisdictional recording offices throughout the nation. Read on to learn more.
According to the Mortgage Bankers Association, mortgage credit availability decreased in December. This decline indicates lending standards are tightening. Read on to learn more.
October Research, LLC looked to industry experts to learn their thoughts about the economy and what we can expect in 2016. These include Freddie Mac Chief Economist Sean Becketti and Fed Governor William C. Dudley. Read on to learn more.
Auction.com has rebranded as Ten-X. The company also announced plans to introduce new transaction platforms in March, giving sellers the option of using an online auction or a more traditional non-auction process online. Keep reading to learn more.
The BakerHostetler law firm helps clients around the world address complex and critical business and regulatory issues, including data privacy. Counsel Scott Koller posted on the firm’s data privacy blog offering five tips to improve information security and reduce the impact of a company when a breach does occur. Read on to learn more.
DocVerify has integrated NeoCertified Secure Email into its eSignature product to allow customers to sign and submit documents utilizing a protected electronic signature directly from the cloud. This partnership will bolster digital defenses to help prevent data breaches, the company said. Read on to learn more.
Commercial and multifamily mortgage lending is expected to increase in 2016, as lenders’ and borrowers’ appetites for new loans remain strong, according to a new Mortgage Bankers Association (MBA) survey of the top commercial and multifamily mortgage origination firms. Read on to learn more.
LenderLive, a domestic-based, end-to-end mortgage services provider, named Jenny Klamfoth regional account executive for the company’s correspondent lending division. She will work with current and prospective clients, primarily community banks and credit unions in Washington, D.C., Maryland, North Carolina, South Carolina and Virginia. Keep reading to learn more.
Freddie Mac released the results of its Primary Mortgage Market Survey, showing mortgage rates mixed with the 30-year fixed rate falling back below 4 percent to start the year. Freddie Mac Chief Economist Sean Becketti credited this to concerns about overseas economic developments among other world events. Read on to learn more.
The Consumer Financial Protection Bureau (CFPB) released its monthly consumer complaint snapshot. As of Dec. 1, 2015, the bureau handled 770,100 complaints nationally. Read on to learn more.
Simplifile, an eRecording service, now is available to customers in Broome and Monroe counties in New York. One county said its hope is to reduce the amount of paper needing to be processed and returned. Keep reading to learn more.
Pershing Yoakley & Associates (PYA) appointed a new director to its ALTA Best Practice assessments group. His background as a state regulator for the insurance industry will enhance the title insurance and settlement company services PYA already offers and allows for an expanded consulting service. Keep reading to learn more.
Westcor Land Title Insurance Co. appointed an executive vice president to provide senior leadership to the company investor services and a vice president, senior underwriting counsel. She will be responsible for underwriting in the states of Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont. Read on to learn more.
LandAmerica’s bankruptcy now is completed, seven years after the third-largest title insurer at the time in the U.S. filed. Keep reading to learn more.
TitleVest, a New York City-based title company and member of the First American family of companies, expanded and enhanced its Westchester County, N.Y., office. The new office will serve the company’s growing client base in Putnam, Orange, Rockland and Dutchess counties, according to its announcement. Read on to learn more.
CoreLogic released its CoreLogic Home Price Index (HPI) and HPI Forecast data for November 2015, showing home prices are up both year-over-year and month-over-month. Home prices nationwide, including distressed sales, increased by 6.3 percent in November 2015 compared with November 2014. Read on to learn more.
Paramount Title is expanding its statewide reach by opening a new office in Ocala, Fla. The office is strategically located in Marion County to serve existing clients, the company said, and provide coverage for several builder accounts. Keep reading to learn more.
Auction.com released its latest Residential Real Estate Nowcast, projecting existing home sales for the month of December. Chief Economist Peter Muoio pointed to the presence of several positive underlying fundamentals that typically lead to home sales. Read on to learn more.
Mark Bilbrey, president of Old Republic National Title Insurance Company (ORNTIC), named a new leader to the Old Republic Title Holding Co. and its subsidiaries. She will lead Old Republic Title’s direct and agency operations in the western states. Read on to learn more.
First National Title Insurance Co. announced that it has added three title companies to its client base. Read on for details of the newest additions.
Atlanta-based BrandMortgage opened a new branch in Wilmington, N.C. President and Managing Partner Alex Koutouzis said the new branch allows the lender to expand its reach in a market that has seen tremendous growth. Read on to learn more.
Pending home sales in November slightly declined for the third time in four months, as buyers continue to battle both rising home prices and limited homes available for sale, according to the National Association of Realtors. NAR’s chief economist says November’s dip in contract activity continues a modestly slowing trend seen since May. Read on to learn more.
RealtyTrac released its 2016 Rental Affordability Analysis, showing that buying is still more affordable than renting in 58 percent of U.S. housing markets. The report also shows that the rise in rents is outpacing weekly wage growth in 57 percent of markets. Read on to learn more.
Rochester Title & Escrow Co., announced it has moved its main Rochester office. The building will accommodate many more closings. Read on to learn more.
In an effort to lay the groundwork for strategic growth in 2016, Title Alliance has announced a number of appointments to leadership positions including the naming of a regional director Dec, 29th. It is the company’s fourth leadership appointment in December. Read on to learn more.
S&P Dow Jones Indices released the latest results for the S&P/Case-Shiller Home Price Indices, a measure of U.S. home prices. Data released for October 2015 show that home prices continued their rise across the country over the last 12 months. Read on to learn more.
Increased risk of fraud in Florida was in-part driven by higher concentration of sales to investors, according to First American’s Chief Economist Mark Fleming. The company’s Loan Application Defect Index for November 2015 estimates the frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications. Read on to learn more.
Welcome to the latest Conversations with the C-Suite feature, exclusive to The Title Report. In these features, we talk to the leaders of the industry about their thoughts on the industry, plans for the future and what title agents need to know to succeed.
In this edition, Editor Tara Quinn spoke with Westcor Land Title Insurance Co.’s President and CEO Mary O’Donnell.
On Dec, 21, 2015, the Mortgage Bankers Association (MBA) issued a letter to the Consumer Financial Protection Bureau (CFPB) in regards to implementing and clarifying the Know Before You Owe (KBYO)/ TILA-RESPA Integrated Disclosure regulations. On Dec. 29, 2015, the CFPB responded with its own letter. In it, Director Richard Cordray said as with any change of this scale, despite best efforts, there inevitably will be inadvertent errors in the early days, but there are already provisions in the rule to address them. Read on to learn more.