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The Title Report is the title insurance industry’s premier
source of market intelligence on issues that matter to today’s title agent and
settlement services professional. It provides up-to-the-minute,
nationwide reporting on title insurance, settlement services, e-commerce
and title technology, real estate market trends, fraud reports, ratings
actions and earnings reports, mergers and acquisitions, niche markets,
competitive business strategies and regulatory and legislative updates.
Kensington Vanguard National Land Services has opened a new office in Palm Beach County, from which it plans to target the Boca Raton market.
It also selected an industry veteran to supervise the new office and develop new business opportunities.
Read on to learn who Kensington selected to go after business in south Florida.
AmTrust Financial Services has hired a senior insurance industry veteran from reinsurer PartnerRe to develop and implement its global strategic framework.
The newest member of the company’s executive team will be based in New York and will report to Chairman and CEO Barry Zyskind.
Read on for more details.
KeyStoneB2B has introduced a new title product that facilitates the title order, title close, and borrower and seller closing disclosure during the mortgage lending process.
The company’s solution includes a network of title companies that have been vetted according to lenders’ rules and guidelines.
Read on for more details.
Homeowners who sold during this year’s second quarter realized the highest average price gain since 2007, according to ATTOM Data Solutions.
Read on for more details.
A Garden State title company that serves Atlantic and Cape May counties has added a vice president of business development.
Read on for more details.
Cloudstar has hired a senior ResWare administrator who has more than 20 years of experience in the title and escrow industry.
Read on for more details.
A little more than a year after acquiring another CRM company, Fidelity has added Dallas-based Real Geeks to its holdings.
Chairman William P. Foley II said the two companies complement each other as one concentrates on elite real estate teams and the other on single agents at lower price points.
Read on for more details.
Driven by a double-digit increase in commercial revenues, Stewart posted a small gain in total title revenue for the second quarter.
The company’s CEO is optimistic that its recent acquisition of title agencies in California and Utah will significantly increase open and closed orders during the third quarter.
Read on for more details.
Two New Jersey-based title companies have merged. The combined entity will have more than 140 employees and 14 locations, with the ability to process, insure and close over 1,800 transactions per month.
The two founders of one of the companies will join the other as senior vice presidents of business development.
Read on for more details.
Foreclosure-related filings during the first six months of 2017 dropped significantly, according to ATTOM Data Solutions.
Read on for more details.
Old Republic has promoted one if its own to senior vice president.
Read on for more details.
First American Title has opened a new branch in Colorado and hired an industry veteran to oversee it.
Read on for more details.
An increase in title revenues boosted the second-quarter results for Fidelity’s FNF Group, with the title business generating its largest quarterly adjusted pre-tax title earnings since 2003.
Despite fewer total opened and closed orders in the quarter, the shift to a heavier purchase market drove revenue and earnings higher, the company reported.
Read on for more details.
The future of the mortgage application process — one in which most of the procedure is electronic and paperless — is clearly visible.
Lenders who are already navigating those waters shared their insights during the 2017 National Settlement Services Summit (NS3) in San Antonio.
Read on for more details.
Both the number of building permits issued and housing starts rose in June, according to the Census Bureau.
Read on for more details.
Old Republic has appointed a senior vice president who has been with the company since 2000.
Read on for more details.
Starting in September, New York-based US Mortgage Corp. will switch from Intuit Quickbooks to Loan Vision’s accounting software for mortgage banks.
Read on for more details.
Stewart has acquired the retail branch division of Title365 — two months after bringing that company’s co-founder and CEO onboard as a senior vice president.
Title365’s 250 employees and 15 offices now operate under the Stewart name. Stewart’s CEO said the acquisition aligns with the company’s strategic plan for targeted growth in direct operations.
Read on for more details.
The National Association of Independent Land Title Agents (NAILTA) has formally adopted enforceable ethical standards of conduct for its members, the organization announced.
NAILTA said it is the only national land title insurance trade organization to utilize a functioning and enforceable set of uniform professional ethics standards for its members.
Read on for more details.
Weichert Title Group’s new president previously held senior management positions with both First American and Fidelity National Title and has more than two decades of experience in the residential title industry.
His accomplishments include starting the title and settlement services businesses for a California company.
Read on for details of who Weichert selected to lead its expansion efforts.
According to CoreLogic, home prices showed strong year-over-year increases during May.
Read on for more details.
Thomas Title selected an industry veteran, who has more than 40 years of experience in the title industry, to lead its Arizona operations.
Read on for more details.
RamQuest has created a Customer Experience Team and hired a director to oversee it.
Read on for more details.
Ascendant Title has expanded its operations in Colorado by taking over two offices in Boulder and Fort Collins which were previously owned by Kensington Vanguard.
The company, which now has six locations throughout Colorado, also announced the launch of refinancing services at all of its locations.
Read on to learn who will lead the additional offices.
ALTA’s market share analysis found that title insurance premiums rose nearly 11 percent during the first quarter of 2017.
The association’s analysis also found that independent underwriters increased their share of the market during the quarter.
Read on for details on the industry’s quarterly operating expenses, losses and net gains.
A law firm that has provided title services for nearly a decade has started an independent title company.
Based in Colleyville, Texas, the new company’s underwriters include Fidelity National Title, Chicago Title, Alamo Title and Commonwealth Land Title.
The company’s founder has experience as a real estate agent, real estate attorney and a title specialist.
A new integration will enable First National Title Insurance Co.’s agents to generate the company’s policy jackets and closing protection letters directly through RamQuest’s Closing Market platform.
Both companies said the integration will improve accuracy and reduce the time needed to produce these items.
Read on for more details.
CATIC announced that it has received a positive SOC 2 report verifying the company’s critical controls are effectively designed to manage the security and confidentiality of its data.
Read on to learn more.
First American Title Co. has hired a vice president who will manage its branch in Burley, Idaho.
Read on for more details.
Advanced Title Co. in Grand Junction, Colo. has named a transaction coordinator and an administrative assistant.
Read on for more details.
Throughout many areas of the country, low home inventories have contributed to an increase in home prices.
However, many in the industry are concerned that many homebuyers will soon be priced out of the market, especially in places such as Boston and San Francisco, according to the Federal Reserve’s latest Beige Book.
Read on for more details.
Now that the ink has dried on the Consumer Financial Protection Bureau’s finalized updates to its TILA-RESPA Integrated Disclosure (TRID) rule, more and more industry insiders are beginning to weigh in.
While none seemed surprised by the content of the final rule, some expressed disappointment that it does not go far enough in requiring that title fees be clearly stated.
Read on for more details.
ACES Risk Management has selected a president to oversee all company operations, including expanding its audit technology platform.
The company’s new president has been in the mortgage industry for 25 years, and has held numerous executive positions with mortgage lenders and mortgage technology providers.
Read on for more details.
The frequency of defects, fraud and misrepresentation submitted in mortgage loan applications during May reached its highest level since 2015.
Read on for more details.
RamQuest, Inc. has announced a vendor relationship that will allow it to offer ProcessFast’s SaaS operational reporting solution to its customers.
Read on for more details.
Cascade’s business agreement with LoanScorecard will enable the financial services firm to automate underwriting its portfolio loans and manage exceptions based on valid compensating loan factors.
Read on for more details.
Severn Bancorp has entered into a definitive agreement to purchase a Maryland title company that is based in Annapolis and was founded by real estate attorneys in 1981.
The acquisition is subject to the completion of due diligence and is expected to close in September.
The bank’s CEO said the acquisition would complement the bank’s current offerings.
Landmark Title Assurance Agency has hired a former Old Republic executive to oversee its business development, expand operations and manage the company’s escrow officers.
The new hire, who will report to the company’s president, previously led a team of 13 employees at Old Republic Title Agency.
Read on for more details about the hire.
Former Federal Housing Finance Administration Director James Lockhart, currently vice chairman at WL Ross & Co., offered his thoughts on reforming the secondary mortgage market and how that market is being impacted by compliance concerns and general political and economic uncertainty during his keynote address at October Research’s 2017 National Settlement Services Summit in San Antonio.
Read on to learn more.
Over 40 million Americans have tappable equity available in their homes today, which is the largest population on record, according to Black Knight Financial Services.
Read on for more details.
A county in Mississippi recently installed ePN’s DocRouter Solution and can now accept electronically submitted documents.
Read on for more details.
ACES Risk Management has incorporated the parameters set by Fannie Mae’s Day 1 Certainty initiative into its audit technology.
Read on for more details.
Title Resource Group has aligned its commercial title operations in 40 markets into one division and named a president to oversee those operations.
The company also announced the acquisition of a New York title company which will be merged into a newly formed company called Pro National Title Agency.
Read on for more details.
ET Investments has purchased an ownership stake in Thomas Title & Escrow.
Both companies believe the partnership will help Thomas expand its commercial services platform and become even more of a national player in that arena.
Read on for details of how the deal is expected to benefit Thomas’ clients and employees.
Orange Coast Title Co. has selected a vice president and senior underwriter. The newest member of its senior management team will oversee the company’s title insurance entity, Real Advantage Title Insurance Company.
The company’s CEO said the new hire’s extensive background in underwriting and risk assessment bodes well for Orange Coast as it moves forward as an underwriter.
Read on for more details.
SLK Global Solutions has introduced a technology-based platform that brings appraisal management companies, default servicers and real estate brokers together.
Read on for more details.
According to Fannie Mae, the share of Americans who believe now is a good time to buy or sell a home increased during June.
Read on for more details.
Fidelity National Timeshare has named a senior title officer who will be based in California.
Read on for more details.
In an attempt to provide greater clarity and certainty, the Consumer Financial Protection Bureau on Friday finalized updates to its TILA-RESPA Integrated Disclosure rule, the so-called "Know Before You Owe” mortgage disclosure.
The rule, which took effect in October 2015, was designed to provide transparency during the mortgage loan process and to provide more information to consumers faster.
Read on for more details.
The well-known CEO of HomeServices of America Inc.’s real estate brokerage division is retiring after more than three decades in the industry.
The company also named five regional presidents from within who will continue to serve as leaders of their local company while supporting HomeServices’ real estate brokerage company network.
Read on for more details.
Old Republic Title has launched a new website that promotes comprehensive closing services to lenders and standard notary services to title agents offered through OR SigningPro.
Old Republic said the promotional website will enable title coordinators to assign orders four times faster than the manual process.
Read on for more details.
Sometimes, it’s the little things that have a big impact on the ability to grow a successful business. The 2017 National Settlement Services Summit in San Antonio brought many industry veterans in to speak on how businesses can grow and move forward.
One, in particular, gave tips on how to simply be more efficient in your daily duties to enhance that growth.
Read on to find out more.
Ten-X is predicting a slight decrease on home sales for June and an increase in median home price.
Read on for more details.
Simplifile has added jurisdictions in Arkansas, Georgia, Louisiana and Virginia to its eRecording network.
Read on for more details.
A new integration will allow Ellie Mae’s Encompass users to manage construction and renovation loans.
Read on for more details.
Home Point Financial Corp. has expanded its third-party origination channel into five geographical regions.
The company said its new structure will allow it to increase its wholesale client base. The restructuring follows Home Point’s acquisition of Stonegate Mortgage Corp. earlier this year.
Read on for more details.
A Wichita-Kan.-based title company has opened a fourth office. The newest office will serve southeast Sedgwick County and western Butler County.
Read on for details about the new office and why Land Title said it was needed.
A.M. Best has affirmed the financial strength ratings and the long-term issue credits ratings for Stewart Title Guaranty Company, Stewart Title Insurance Company, Stewart Title Limited, Investors Title Insurance and National Investors Title Insurance.
In its reports, A.M. Best explains why these companies are highly rated.
Read on for more details.
The percentage of mortgages in some stage of delinquency in March dipped to the lowest level in nearly a decade, according to CoreLogic’s Loan Performance Insights Report.
Read on for more details.
Castle & Cooke has hired a compliance director who has more than 13 years of experience in financial services regulatory compliance.
Read on for more details.
Mortgage lenders and servicers now can access HouseCanary’s Home Price Indices and forecast models through First American Mortgage Solutions.
Read on for more details.
The 2017 National Settlement Services Summit in San Antonio brought a title expert and an underwriter to the stage outlining the advantages Blockchain will bring to the industry.
Read on to find out what they told the conference attendees and why this technological tool will be a true game-changer for title agencies.
Fresh off becoming the first title company to be rated by Morningstar and receiving that organization’s highest vendor ranking, Atlanta-based Premium Title is primed for the future.
President James Weld told The Title Report that Premium’s strategic plan includes expanding its footprint in Western states such as Washington, Oregon and New Mexico.
Read on to learn what has driven the company’s success.
Four of the top 13 banks in the country have invested in a technology platform which will provide due diligence and vetting of third-party providers.
One executive said the platform “will further enhance our third-party risk-management efforts, streamline our vendor onboarding process and support our global business operations.”
Read on for more details.
According to ATTOM Data Solutions, home prices rose faster than wages in nearly 90 percent of all markets nationwide.
Read on for more details.
During May, eRecording Partners Network added 13 jurisdictions in eight states to its nationwide eRecording network.
Read on to learn more.
Nearly 60 percent of respondents in the National Association of Mortgage Professionals’ membership survey said low home inventories are the biggest problem facing homebuyers.
Read on for more details.
The Knight Barry Title Group has continued its aggressive expansion in Wisconsin with its second acquisition this year.
The company’s latest acquisition is in Chippewa Falls, Wis. Knight Barry now has 48 offices and 300 title and closing professionals.
Read on for details about the latest company to become part of the Knight Barry team.
The partnership between Equity National Title and Pavaso will produce hybrid eClosings in which select documents, such as the deed and note, are printed and wet-signed, but much of the closing package is executed electronically.
With yet another national title provider choosing an eClosing process, Pavaso’s CEO said a large title network for digital closings is emerging.
Read on for more details.
The National Association of Realtors has selected a group insider as its 12th CEO.
The group’s new leader will replace industry mainstay Dale Stinton, who is retiring after leading the group for nearly four decades.
NAR partnered with executive search firm Heidrick & Struggles to find its new leader. Read on for more details.
Rekon Technologies has moved three company veterans into vice president roles.
Read on for more details.
A new integration allows Qualia users to order NotaryGO signing services within Qualia’s platform.
Read on for more details.
Both the number of homes flipped and average return on investment on those transactions declined during the first quarter of 2017, according to ATTOM Data Solutions.
Read on for more details.
Fidelity National Financial has acquired a majority ownership stake in the oldest title company in Hawaii.
The company, which has nearly 400 employees and locations throughout the state, will retain its name and there will be no staff changes as a result of the deal.
“We are excited to formally welcome" the company into the FNF family, Chairman William P. Foley, II. said. Read on for more details.
Nationwide Title Clearing has hired a veteran attorney, who has been a partner at national commercial law firms, to serve as its lead general counsel.
The company’s CEO said the new hire understands the complexities of compliance in the industry and will give clients an additional layer of confidence.
Read on for more details.
loanDepot has expanded its executive team by hiring two industry veterans to fill its newly created positions of executive vice president, marketing and executive vice president, next generation lending.
The company’s CEO said the new hires will help the company form digital relationships with customers that cover all aspects of consumer lending and homeownership.
Read on for more details.
More than 20 organizations, including ALTA, are urging Congress to change the structure of the Consumer Financial Protection Bureau to a bipartisan committee.
The group includes banks, credit unions, financial institutions and businesses. They point to a recent survey in which a majority of respondents favored scrapping the agency’s current structure.
Read on for more details.
Freddie Mac believes recent declines in home sales are likely to reverse as low mortgage interest rates and solid job gains boost the housing market.
Read on for more details.
Black Knight Financial Services’ Home Price Index found that average home prices in April hit new peaks in nine states.
Read on for more details.
RamQuest has promoted one of its own to replace Brooks Yeager, who left the company in May to become a senior vice president at Old Republic National Title Insurance Co.
The company’s new chief strategy officer was previously vice president of technology operations and was responsible for Closing Market.
Read on for more details.
According to Ellie Mae’s latest Origination Insight Report, the percentage of home purchase loans continues to climb as the percentage of refinances declines.
The report said that the home purchase portion of closed loans in May was the largest since May 2011, when Ellie Mae began tracking that statistic.
Read on for more details.
The Pittsburgh-based provider of real estate information and technology services has expanded its footprint with the purchase of an independent escrow company in California.
The acquired company will continue to operate with its current staff and under its own brand and license.
Read on for more details.
A new index from ATTOM Data Solutions identifies markets with the highest ratio of homes likely to sell within 30 days of the estimated loan settlement date.
Read on for details.
According to ACES Risk Management, more than 68 percent of loan defects last year involved implementation of TILA-RESPA Integrated Disclosure rules and loan package documentation.
Read on for more details.
A new integration will enable RamQuest users to order conveyance documents from BC Law’s document preparation services.
Read on for more details.
General Title Insurance Co. has linked itself with an Indiana law firm that has provided insurance services for more than three decades, the law firm announced.
Based in Huntington, Ind., the law firm has three offices and offers assistance with buying and selling real estate of all types, including retail, industrial and residential development, commercial and residential leasing.
Read on for more details.
During a speech before the National Association of Manufacturers, House Speaker Paul Ryan said Republicans are committed to tackling transformational tax reform this year.
He said President Donald Trump’s plan would lower the corporate tax rate for all businesses and make it simpler for families and individuals to file taxes.
Read on for more details.
ClosingCorp has launched an advanced rate management solution that enables title organizations to collect and manage their specific rate and fee data.
The new technology is designed for underwriters and title companies seeking to create and manage special lender pricing, as well as standard rates for lender use nationwide.
Read on for more details.
According to ATTOM Data Solutions, the number of homes in foreclosure throughout the U.S. increased during May.
Read on for more details.
Premium Title has received the highest vendor ranking from Morningstar Credit Ratings, LLC.
Read on for more details.
ATG Trust Co. has added a former Iowa assistant attorney general with more than 15 years of experience in estate and trust administration, estate planning and elder law to its staff.
Read on for more details.
According to a newly released survey, more than 40 percent of finance executives said fraud risk is interfering with corporate efforts to develop new products and services and prompting business model changes.
More than half of the executives surveyed said fraud increased, not decreased, with the introduction of EMV technology.
Read on for more details.
Title agents fortunate enough to attend October Research’s 2017 National Settlement Services Summit in San Antonio earlier this month did more than renew acquaintances and eat great Tex-Mex.
Most took advantage of a one-stop opportunity to join informative sessions that equipped them with information on adopting eClosings, tools for attracting more business and efficient methods for marketing their brands.
Read on for this year's highlights.
The boards of directors of both Fidelity National Financial and Black Knight Financial Services have signed formal agreements approving the plan for Black Knight to become an independent company later this year.
The split is scheduled to become official sometime during the third quarter.
Read on for details of what still needs to happen to complete the plan.
Title Alliance’s newest board director was the first female partner in the 90-year history of the founding office of Coopers & Lybrand.
Read on for more details.
A new feature added to International Document Services’ integration of LendingQB allows the preview of mortgage documents before they are submitted to fulfillment.
Read on for more details.
For the second time this year and the third time since December, the Federal Open Market Committee has lifted its benchmark short-term interest rate.
The committee said a strengthening economy and decreasing unemployment justified the increase. Two industry analysts told The Title Report the rate hike is not expected to have a huge impact on mortgage rates.
Read on for more details.
Stearns Lending has acquired a residential mortgage origination and servicing company that is licensed in more than 40 states and originated $1.9 billion in 2016.
Stearns’ CEO said the acquired business is complementary to its current business and strengths and that it has offered jobs to mortgage production related employees affected by the acquisition.
Read on for more details.
A regional title company with about 200 employees at 21 offices in Missouri and Arkansas has announced plans to combine its existing corporate headquarters and title plant at a newly constructed office.
The company’s chief operating officer said bringing more employees under one roof will help increase the firm’s visibility.
Read on for more details.
A new integration will enable Qualia users to access A.S.K. Services, Inc.’s residential and commercial title search and examination services.
Read on for details.
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