The CEO of the American Land Title Association (ALTA) has resigned. Under the leadership of Michelle Korsmo, ALTA doubled its membership and revenue and nearly tripled fundraising for the Title Industry Political Action Committee.
PLTA is proud to offer The Title Report RSS feed for visitors
The Title Report is the title insurance industry’s premier
source of market intelligence on issues that matter to today’s title agent and
settlement services professional. It provides up-to-the-minute,
nationwide reporting on title insurance, settlement services, e-commerce
and title technology, real estate market trends, fraud reports, ratings
actions and earnings reports, mergers and acquisitions, niche markets,
competitive business strategies and regulatory and legislative updates.
The second-largest title insurance agency in Illinois has opened a new office in a Chicago suburb to accommodate its growing customer base in that area. The company said the new office opened in June and occupies a 2,400-square-foot suite on the first floor of the building.
Although their optimism dipped slightly last month, small-business owners continued to report plans to create new jobs and to increase pay levels to help fill open positions, according to the latest optimism index from the National Federation of Independent Business (NFIB). NFIB’s June optimism index reached the sixth highest reading for that month in the survey’s history.
WFG National Title Insurance Co. has named a regional director to oversee growth and management in Arizona, Colorado, Nevada and Texas. Read on for more details.
A new integration enables users of Mortgage Cadence’s Enterprise Lending Center to audit loans for regulatory compliance without leaving the platform. Read on for more details.
The former CEO of one of the world’s largest banks has been elected to Fannie Mae’s board of directors. Read on for more details.
A report from the Harvard Joint Center for Housing Studies said employment levels and rising household incomes have the housing market on sound footing. Read on for more from the latest version of the annual State of the Nation’s Housing report.
Opening and maintaining effective lines of communication in the real estate business has proven easier said than done but it is a worthwhile endeavor according to participants in the 2018 National Settlement Services Summit session entitled “Perfecting Closings Together.” Read on to find out what the industry insiders had to say.
Less than two months after it purchased an interest in a national escrow and title company, a technology-driven real estate firm has expanded into two additional states. The real estate company now has a presence in eight states and is looking to expand further.
Weiner Brodsky Kider has added Ken Markison, an attorney who was formerly a mainstay at the U.S. Department of Housing and Urban Development and the Mortgage Bankers Association. Read on for more details.
NotaryCam has partnered with Accurate Group to provide remote online notarization services for the latter’s NotaryWorks. Read on for more details.
Title Alliance, Ltd. has appointed a closing manager for its Keystone Premier Settlement Services in Bethlehem, Pa. Read on for more details.
President Donald Trump has signed an executive order establishing a joint task force to combat consumer fraud that will include the Consumer Financial Protection Bureau, the Securities and Exchange Commission, the Federal Trade Commission and the U.S. Attorney’s Office.
A Grand Rapids, Mich.-based title agency has launched a construction draw and lien waiver system designed to eliminate the hours of time and effort spent matching payments to separate lien waivers. Read on to learn how the waiver system assists title agents.
American Secure Title has expanded its footprint in Utah with the acquisition of a Salt Lake City-based title agency. The acquired company has eight offices and about 40 employees.
Investors Title has hired a vice president for its Commercial Services Division who has held positions with several national underwriters. Read on for more details.
ClosingCorp has integrated CoreLogic’s Property Tax Estimator into its closing platform. Read on for more details.
Global services provider Visionet Systems Inc. has hired a senior vice president who will focus on mortgage business process management. Read on for more details.
A Republican congressman is urging the Federal Reserve Board to step up its game when it comes to preventing wire fraud, including considering mandating financial institutions adopt payee matching.
A.M. Best has removed the AmTrust Group from under review with negative implications and downgraded both its Financial Strength Rating (FSR) and its Long-Term Issuer Credit Rating (Long-Term ICR). The credit rating agency affirmed the FSR and Long-Term ICR of AmTrust Title Insurance Co.
National title agent and settlement services provider Bay National Title Co. has passed an audit of its Service Organization Controls 1 Type 1 standard. Bay National said the audit demonstrates its consistent commitment to create and maintain the most stringent controls needed to ensure the highest quality and security of services provided to its clients.
WFG National Title Insurance Co. has hired a division president to spearhead its growth throughout Colorado. Read on for more details.
Pipedrive has launched a new CRM platform designed to address the unique needs of banking, insurance, mortgage and other financial services. Read on for more details.
AmTrust Title Insurance Co. has hired an attorney with more than 30 years of experience in title insurance and regulatory compliance. Read on for more details.
A day after a Texas law authorizing webcam-based closings took effect, Stewart announced the completion of its first completely paperless, fully digital real estate transaction.
CEO Matt Morris said completing the company’s first remote, fully digital purchase transaction in Texas supports its continued innovative and leading approach to improving the real estate transaction process.
As Leandra English officially left the Consumer Financial Protection Bureau on Monday, her boss told The Title Report that he never met her – nearly seven months after he came to the bureau as acting director. The revelation is not the first time Mulvaney has publicly stated he had not met English, but it’s the first announcement since April, when he appeared before the Senate Banking Committee.
Title Alliance, Ltd. has announced a joint venture near Philadelphia called Chesco Settlement services. This newest joint venture officially opened June 15. It will be led by Title Alliance Operations Manager Amy Hotsur and offers a full range of title and settlement services.
Small-business lending hit an all-time high in May, according to a report from the PayNet, Inc. Read on for more details.
North American Title Co. has selected a managing escrow officer for its Cascade branch in Colorado Springs, Colo. Read on for more details.
Vialok has added a financial crimes expert who will advise the company on how to use financial metadata to identify and disrupt financial crimes. Read on for more details.
NorthStar Title Services has promoted its regional account manager to sales manager. Read on for more details.
Consumer Financial Protection Bureau Deputy Director Leandra English Friday announced plans to resign from the bureau and drop her litigation challenging President Donald Trump’s appointment of acting director Mick Mulvaney. The fight over leadership of the bureau now moves to the Senate and the nominee recently put forth by the president.
At the 2018 National Settlement Services Summit (NS3) in Detroit, Buckley Sandler, LLP Partner Valerie Hletko addressed conference attendees about diversity within one’s office and company, as well as policies employers should implement to achieve both diversity and inclusion amongst co-workers. Read on to find out what was said.
One-third of banking and mortgage professionals surveyed by Vendorly said their company’s vendor management program needs improvement, while more than half say that their company does not have a fully comprehensive system in place.
North American Title Insurance Co. has launched a comprehensive marketing and educational outreach initiative designed to connect its agents with its trusted partners. The companies partnering with NATIC are organized under the categories best practices, business solutions and business development.
Nationwide home prices during the second quarter of this year were the least affordable in nearly a decade. Read on for more details from ATTOM Data Solutions’ latest report.
Daytona Beach, Fla.-based Southern Title has hired a new closing assistant. Read on for more details.
The percentage of closed purchase loans in May is the highest since Ellie Mae began tracking the data in 2011. Read on for more details.
Lennar Corp. credited solid fundamentals in the housing market for a more than 40 percent improvement in second-quarter net earnings, according to the company’s latest earnings statement.
More than half of the cybersecurity strategies employed by businesses are no more effective than chance, according to a report done by Kenna Security and the Cyentia Institute. The report provides insights into vulnerability lifecycles and key factors that influence the remediation and prevention of vulnerabilities.
loanDepot and mellohome have appointed a chief innovation officer (CIO) for the organizations’ leadership team who they describe as a transformative leader and an exceptionally skilled product and market strategist.
The typical home sold in May went under contract in 34 days, according to a report by the real estate brokerage Redfin. Read on for more details.
Thirty-one additional recording jurisdictions in 16 states have joined Simplifile’s eRecording network. Read on for more details.
LenderClose has hired a sales associate for its team. Read on for more details.
The country’s second-largest residential real estate brokerage has acquired an Omaha, Neb.-based real estate company and an ownership interest in its title company. Terms of the deal were not disclosed.
Title Data Inc.’s board has elected a new president and CEO, the company announced. The new president and CEO will be replacing James Sibley, who will retire Nov. 1, 2018 after more than 31 years with the company.
A new integration enables FirstClose to provide financial institutions with Chicago Title’s property search, legal and vesting products and services, the companies announced.
The Marshall County, Ala. Probate Office has partnered with eRecording Partners Network to accept electronically submitted documents. Read on for more details.
Visionet Systems Inc.’s mobile-based origination solution now is integrated with LendingQB’s web-based loan origination system. Read on for more details.
Anderson Biro, LLC has hired a director of research. Read on for more details.
Bringing together professionals from all spokes of the real estate industry in one location always has been the focus of the National Settlement Services Summit (NS3).
For the 2018 installment, keynote speaker Alessandro DiNello, president and CEO of Flagstar Bank, brought to the podium the perspective of an industry leader who has worn a number of different hats throughout his career.
The shareholders of AmTrust Financial Services, Inc. have approved a privatization bid authorizing the majority owners of the company to buy the outstanding shares of the company.
WACO Title recently expanded its presence throughout Arkansas with the opening of its 22nd location, the company announced. WACO President and CEO Patrick Curry said the new office offers a more convenient location for customers in Central Arkansas communities and continues the company’s growth along the I-40 corridor.
Alliant National Title Insurance Co. has completed the International Organization for Standardization (ISO) 27001 certification for information assets security controls. Read on for more details.
TitleWave Real Estate Solutions has appointed new regional managers for the Midwest, the Southeast Mid-Atlantic, and the state of Pennsylvania. Read on for more details.
AmTrust Title Insurance Co. has hired Karen G. Gutman as vice president and Pennsylvania state underwriting counsel. Read on for more details.
The industry generated slightly less in title insurance premiums during this year’s first quarter than in 2017, according to the American Land Title Association’s 2018 First-Quarter Market Share Analysis.
The Closing Exchange has partnered with Pavaso to provide nationwide mobile closing services through its network of trained and certified signing agents, both companies announced.
The number of loan originations during the first quarter of 2018 dropped 3 percent from one year ago. Read on for more details from ATTOM Data Solutions’ Q1 2018 U.S. Residential Property Loan Origination Report.
TitleWave Real Estate Solutions has appointed a supply chain director and an onboarding account manager. Read on for more details.
Black Knight Inc. has expanded the availability of its National TaxNet homeowners association (HOA) certificates in Texas. Read on for more details.
CATIC National Commercial Services has expanded its footprint in Massachusetts with the opening of a new office in Boston. CATIC said the new office provides an alternative location for its agents who would like to use the company’s resources in coordinating commercial transactions.
In May, The Title Report learned that FinCEN issued a new Geographical Targeting Order (GTO) that took effect May 21, 2018. At the National Settlement Services Summit (NS3) in Detroit on June 7, Steven Day, president National Agency Operations, Fidelity National Title Group and president of the American Land Title Association, participated in an underwriter panel and discussed the latest GTO.
Reaction to President Donald Trump’s nomination of Kathy Kraninger as director of the Consumer Financial Protection Bureau seemed somewhat muted as industry experts scrambled to learn her background.
Pavaso has partnered with a technology-focused, national settlement services firm based in Washington D.C. to facilitate the company’s digital closing program.
North American Title Insurance Co. has hired a state agency manager for Alabama and Mississippi. Read on for more details.
AmTrust Title Insurance Co. has hired a vice president and Pennsylvania underwriting counsel. Read on for more details.
Minnesota-based Rochester Title has hired a staff attorney. Read on for more details.
The Federal Trade Commission has directed Fidelity National Financial and Stewart Information Services Corp. to provide more information as federal regulators weigh approval of the proposed $1.2 billion merger of the two underwriters, according to a Securities and Exchange Commission (SEC) filing.
The Federal Reserve has raised interest rates for the second time this year and signaled that two additional hikes are likely before year’s end. Many economists do not believe this latest rate hike will derail the housing market.
A holding company of Williston Financial Group (WFG) and Golden Gate Capital has appointed a chief operating officer (COO). The new COO is the former president of Realtors Property Resource and a former chief technology officer of Realtor.com.
LenderClose has hired a sales executive who will focus on building relationships with credit unions and community banks. Read on for more details.
MortgageHippo has integrated DocMagic, Inc.’s loan preparation, regulatory compliance and eMortgage services into its digital lending platform. Read on for more details.
A closing assistant at Southern Title has successfully completed the state exam and became a licensed title agent in Florida. Read on for more details.
A digital title and settlement company has closed a $20 million round of funding led by funds and accounts advised by T. Rowe Price Associates, Inc. with participation from PSL Ventures, Imagen Capital Partners and existing investors Trilogy Equity Partners and Maveron.
The American Land Title Association is among a coalition of organizations supporting legislation that would require the Consumer Financial Protection Bureau (CFPB) to issue useful guidance concerning consumer financial laws.
Old Republic Title and ZOCCAM have partnered in Texas to facilitate the secure transfer of electronic deposits of earnest money into Old Republic's escrow accounts. ZOCCAM’s CEO said the company’s partnership with Old Republic will save consumers the heartache associated with loss of funds from wire fraud.
During the first quarter, the home flipping rate declined in 75 of the 136 metropolitan statistical areas analyzed by ATTOM Data Solutions. Read on for more details.
PropLogix now offers an extensive look at property taxes with its new tax certificate service. Read on for more details.
DataTrace has hired an industry veteran with a successful history of developing strategic client relationships. Read on for more details.
A long-time business owner and title agent who describes himself as a “passionate zealot who hides out as a normal businessman” has tossed his hat into the race to be Michigan’s next governor. He believes his experience working in the title industry would serve him well in Lansing.
TitleWave has selected a former senior vice president with First American Title and president and chief operating officer of Sunbelt Title Agency to serve as its president. A Fidelity National Title Group executive called the new president “a visionary leader, operator and change agent possessing more than 20 years of experience.
eOriginal, Inc. has announced a new initiative that will provide settlement agents customized access to key lender documents, including the eNote, in a fully digital environment.
Pavaso has named an executive vice president of operations. Read on for more details.
AmTrust Title Insurance Co. has hired an agency representative for Pennsylvania and New Jersey. Read on for more details.
Fidelity National Title Group has named a national agency director of education and marketing strategy. Read on for more details.
The 14th edition of the National Settlement Services Summit (NS3) got off to a rousing start Wednesday with a lineup of compliance-focused educations, highlighted by Meridian Title CEO Mark Myers. Read on for more from Myers and the first-day lineup at NS3.
For the seventh year, October Research, LLC, presented its annual awards for leadership, innovation and philanthropy, with some of the brightest stars in the title industry recognized for their efforts. Read on for more details of the winners and their contributions to the industry.
The seventh annual “Make a Child Smile” community service event, sponsored by Adeptive Software, saw attendees put together Summer Fun Supply Kits, which will be delivered to the Boys & Girls Clubs of Southeastern Michigan. Read on for more from the event and presentation.
AmTrust Title Insurance Co. has hired an industry veteran to serve as its Florida agency manager. Read on for more details.
KeyStoneB2B and DocMagic have partnered to provide compliant loan document preparation, regulatory compliance and comprehensive eMortgage services through KeyStone’s platform, the companies announced. Read on for more details.
A Michigan-based credit union as adopted CertifID’s solution to prevent wire fraud in its mortgage and retail operations. Read on for more details.
With a record crowd set to invade the Detroit Marriott at the Renaissance Center, the 14th annual National Settlement Services Summit (NS3) brings a packed lineup featuring a live eClosing with remote online notarization, the CEO of the fifth-largest bank mortgage originator in the country, federal and state regulators, and much more.
A Dallas title company has launched a communication platform that provides buyers, sellers, real estate agents and lenders with real-time details on the closing process.
OS National LLC is partnering with mortgage technology provider Pavaso to provide digital closings. An OS National executive said linking with Pavaso supports the company’s core mission of removing paper from the real estate transaction process and delivering exceptional customer experiences that exceed all expectations.
Houston-based Riverway Title has hired an industry veteran to serve as its executive vice president and senior commercial escrow officer. Read on for more details.
Visionet Systems, Inc.’s workflow-based title production platform now is integrated within Amazon’s AI-powered virtual assistant Alexa. Read on for more details.
Guaranteed Rate is now offering its customers the option of electronically signing mortgage closing documents in advance through a solution powered by DocMagic. Read on for more details.
A San Diego-based technology-driven real estate company has bought a 50 percent interest in a national settlement services company with escrow and title insurance licenses in 31 states.
The Financial Crimes Enforcement Network (FinCEN) has denied a Freedom of Information request from The Title Report to provide a copy of its latest Geographic Targeting Orders (GTOs) that took effect in May.