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Fidelity acquires Stewart in $1.2 billion deal
Posted Date: Monday, March 19, 2018
In a deal that would eliminate one of the Big Four title insurers, Fidelity National Financial, Inc. (FNF) has signed a merger agreement to acquire Stewart Information Services Corp. for $1.2 billion in cash and stock.
If approved by regulators and stockholders, Fidelity would pay $50 per share of common stock.
Read on for more details.
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A look back at LandAmerica purchase
Posted Date: Tuesday, March 20, 2018
It was late in 2008 that the Big Five in title became the Big Four.
As the Big Four is set to become the Big Three following the announcement of Fidelity National Financial’s (FNF) buyout of Stewart Information Services Corp., it is worth looking back to the last major deal that shook the title landscape.
FNF closed the acquisition of LandAmerica on Dec. 22, 2008, capping a two-year stretch that saw LandAmerica reach its highest highs, before its lowest lows forced the company into bankruptcy. The last major acquisition by FNF has similarities to the deal it is preparing to undertake today. Read on for more details.
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Fidelity: Synergies could include cuts
Posted Date: Tuesday, March 20, 2018
In considering its bid for Stewart Information Services Corp., Fidelity Chairman William P. Foley, II said the company identified an estimated $135 million in operational cost synergies.
Although some of the synergies are expected to come in services, technologies and activities, Fidelity said non-complementary facilities also could be closing.
What will that mean for Stewart employees? Read on for more details.
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Analyst: Stewart sale likely to clear regulators
Posted Date: Tuesday, March 20, 2018
Fidelity National Financial, Inc.’s proposed acquisition of Stewart Information Services Corp. shouldn’t have a problem clearing federal regulators, according to a top analyst.
Demotech, Inc. President Joseph Petrelli said the title premium market post-acquisition would still be diverse enough to most likely avoid any major antitrust issues from the Federal Trade Commission.
Read on learn more of Petrelli’s take on the deal.
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Law firm investigating Stewart sale
Posted Date: Monday, March 19, 2018
While federal regulators weigh whether Fidelity National Financial, Inc.’s agreement to acquire Stewart Information Services Corp. would harm consumers, a New York City law firm is investigating whether the deal is good for Stewart’s shareholders.
The law firm said it’s investigating whether Stewart’s board breached its fiduciary duties to stockholders by failing to adequately shop the company.
Read on for more details.
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Fidelity ‘not sure’ how FTC will view Stewart acquisition
Posted Date: Monday, March 19, 2018
The chairman of Fidelity National Financial, Inc. said he’s not sure how the Federal Trade Commission will view the company’s agreement to acquire Stewart Information Services Corp. for $1.2 billion in cash and stock.
The deal would eliminate one of the Big Four title insurance company’s and would increase Fidelity’s leading share of the market.
Read on for more details.
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Arizona agencies adopt Blockchain technology
Posted Date: Thursday, March 15, 2018
Two Arizona title agencies are integrating Blockchain technology into their day-to-day operations.
Last year, the two title agencies conducted nearly 20,000 real estate transactions and underwrote title insurance in excess of $3 billion.
The provider of the Blockchain technology said it will be used in more than 25 offices in Greater Phoenix and Tucson. Read on for more details.
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Westcor opens additional New York office
Posted Date: Thursday, March 15, 2018
To spur further growth in New York, Westcor Land Title Insurance Co. has opened a second office in the Empire State, this one on Long Island.
Westcor also announced several key hires that will be based in New York. The company’s chief operating officer said “bringing top end experience and talent to deliver top end service to independent agents is the key to our continued mutual success.”
Read on for more details.
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ComplianceEase updates its analyzer
Posted Date: Thursday, March 15, 2018
ComplianceEase has updated its ComplianceAnalyzer with TRID Monitor to comply with the 2017 TILA-RESPA Integrated Disclosure Rule.
Read on for more details.
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Lennar announces post-merger leadership team
Posted Date: Wednesday, March 14, 2018
Now that its $9.3 billion merger with CalAtlantic Group is complete, Lennar Corp. has announced the leadership team for its Lennar Palm Atlantic Division.
Lennar selected an industry veteran with more than 30 years of experience serving in executive leadership roles to lead the division.
Read on to learn who will be leading the division and how many home sites the company now owns or controls.
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Firm launches cybersecurity services practice
Posted Date: Wednesday, March 14, 2018
An accounting and advisory firm serving the financial services and real estate industries has launched a cybersecurity services practice to help lenders and servicers protect themselves against online fraud and data attacks.
Additionally, the firm will act as a chief information security officer for lenders and servicers on a contract basis.
Read on for more details about the new practice.
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Qualia secures $33 million in additional funding
Posted Date: Wednesday, March 14, 2018
Qualia has secured millions in additional funds from Menlo Ventures with participation from 8VC, Bienville Capital and Barry Sternlicht.
With the additional funding, Qualia said it will expand its engineering and product teams and accelerate its growth into additional markets across the U.S.
Read on to learn what the company’s CEO said has driven its success.
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NTC promotes executive
Posted Date: Wednesday, March 14, 2018
Nationwide Title Clearing has promoted a company executive to serve as assistant vice president of business development.
Read on for more details.
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FAN closes Florida’s first digital remote online transaction
Posted Date: Tuesday, March 13, 2018
Florida Agency Network recently completed the Sunshine State’s first 100 percent paperless, fully digital remote online real estate closing transaction.
The closing was completed earlier this month by Paramount Title, and the eNotarization of deeds and affidavits was performed by Notarize via an app interface utilizing a notary in Virginia.
Read on for more details.
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ERA Real Estate appoints CEO
Posted Date: Tuesday, March 13, 2018
ERA Real Estate looked within its own ranks to find its new president and CEO. The company’s new leader is a technology expert with decades of experience in real estate brokerage investments, marketing and operations.
He will be responsible for leading the ERA brand’s growth strategy focused on enhancing agent recruitment, productivity and market share.
Read on for more details.
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AmTrust launches new tool for agents
Posted Date: Tuesday, March 13, 2018
AmTrust Title Insurance Co. has introduced a proprietary platform through which its title agents can access qualified vendors providing land record and ancillary search services, as well as title commitment production, the company announced.
The platform allows agents to place and view orders on phones, tablets or computers, as well as work across multiple states on commercial, residential and multisite transactions.
Read on for more details.
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2017 home flips reached 11-year high
Posted Date: Tuesday, March 13, 2018
The return on investment on home flips in 2017 was the highest recorded for as far back as data is available.
Read on for more details.
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Industry veteran joins AmTrust
Posted Date: Tuesday, March 13, 2018
AmTrust Title Insurance Co. has hired an industry veteran to help with its development and support of multistate agencies across the United States.
Read on for more details.
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Loan defects up year-over-year
Posted Date: Thursday, March 8, 2018
The frequency of defects, fraudulence and misrepresentation in mortgage applications in January increased by 13.7 percent compared with January 2017.
Read on for more details.
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Mortgage delinquencies declined in January
Posted Date: Tuesday, February 27, 2018
Mississippi, Louisiana, Florida, Alabama and West Virginia had the highest percentage of non-current loans in January. R
ead on for more details.
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Home price appreciation highest in areas with environmental risks
Posted Date: Friday, February 23, 2018
Median home prices in U.S. ZIP codes in the highest 20 percent for environmental hazard risk appreciated at a faster pace than the overall market over the past decade, according to ATTOM Data Solutions’ 2017 Environmental Hazards Housing Risk Index.
Read on for more details.
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Redfin expands into additional states
Posted Date: Wednesday, January 17, 2018
Redfin Corp. is offering loans to homebuyers in Pennsylvania, Connecticut and North Carolina.
The real estate brokerage that is integrated with Title Forward plans expansion into other states during 2018. The company selected a former regional manager for Century 21 to lead its Connecticut operation.
Read on for more details.
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First names of most-active homebuyers
Posted Date: Monday, January 8, 2018
What’s in a name? Apparently quite a bit if you’re analyzing which generation was the most-active homebuyers in 2017.
Read on to learn what ATTOM Data Solutions found.
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