|
Exclusive: Industry keeps fee margins as home prices fall
Posted Date: Tuesday, June 11, 2019
In the latest installment of an exclusive joint project between The Title Report and ClosingCorp, we examine title and settlement fees for 2018 compared with our first sample of data, which covered the period between October 2017 and March 2018.
Nationally, ClosingCorp reported an average home price of $294,164, down 7.6 percent from the $318,362 reported in the previous six-month period. Yet despite the drop in sales prices, the industry was able to keep margins from falling on fees.
Read on for a closer look at average national and localized fees for owner’s title insurance, lenders title insurance and settlement services.
|
|
|
|
States Title receives machine-learning patent
Posted Date: Tuesday, June 25, 2019
The federal government has issued a patent to States Title for a machine-learning solution it created, the company announced.
States Title said its machine intelligence technology will replace approximately 80 percent of the manual workflow-related time and activities, significantly reducing time-to-close for lenders.
Read on learn what CEO Max Simkoff had to say about the company’s use of machine learning.
|
|
|
Signature Closers, Nexsys launching eClosing platform
Posted Date: Tuesday, June 25, 2019
Columbus, Ohio-based Signature Closers LLC has partnered with Nexsys Technologies LLC to create a digital mortgage closing platform, the companies announced.
The companies said Nexsys’ Clear Sign digital signing product will integrate with Signature Closers’ SYNC platform to provide software solutions for all types of digital closings.
Read on to learn what both companies had to say about their partnership.
|
|
|
Black Knight enhances its title plant application
Posted Date: Tuesday, June 25, 2019
Black Knight has enhanced its title plant application with several new features designed to improve the user experience, the company announced.
TitlePoint has additional available data assets for users throughout Florida which create a one-stop shop for all title needs. The enhancements to TitlePoint are being implemented nationwide for a consistent standard of quality coast-to-coast, Black Knight said.
Read on for more details.
|
|
|
The Closing Exchange hires executive vice president
Posted Date: Tuesday, June 25, 2019
The Closing Exchange has hired Landon Smith as its executive vice president, client strategy and business development, the company announced.
Read on for more details.
|
|
|
MBA launches affordable housing initiative
Posted Date: Tuesday, June 25, 2019
The Mortgage Bankers Association recently launched strategic initiative to promote more sustainable, affordable homes for purchase and rental for underserved people and communities, especially minorities and low-to-moderate-income Americans.
Read on for more details.
|
|
|
Industry’s first-quarter premiums decline
Posted Date: Wednesday, June 19, 2019
The title industry saw premiums decline and claims rise during the first quarter of 2019, according to an analysis by the American Land Title Association (ALTA).
The Big Four companies controlled 85 percent of the market during the first quarter, and independent underwriters had nearly 15 percent of the market, according to ALTA.
Read on to learn which states produced the most title premium volume during the first quarter.
|
|
|
TexanTitle selects SafeWire
Posted Date: Wednesday, June 19, 2019
Texan Title has chosen SafeChain’s SafeWire platform to defend its clients’ wire transactions against fraud, the companies announced.
The companies said SafeWire will be deployed across Texan Title’s family of title companies, including South Land Title, Prominent Title, Washington County Abstract, Guaranty Title Company of Grimes County and Security Title.
Read on for more details.
|
|
|
TRG announces strategic hires
Posted Date: Wednesday, June 19, 2019
Title Resource Group (TRG) has hired a director of its commercial channel, and its group member Title Resources has hired a senior vice president for its southeast region.
The company said both hires follow a first quarter in which its growth in gross premiums outpaced the industry.
Read on to learn more about the latest additions to the TRG team.
|
|
|
|
LenderClose expands its team
Posted Date: Wednesday, June 19, 2019
LenderClose has added five new employees and promoted two others, bringing its total workforce to 25 employees.
Read on for more details.
|
|
|
NS3 Live: FHA's Montgomery kicks off first day
Posted Date: Wednesday, June 19, 2019
The 15th edition of the National Settlement Services Summit (NS3) launched with Acting Deputy Secretary, and Federal Housing Administration (FHA) Commissioner and Assistant Secretary for Housing of the U.S. Department of Housing & Urban Development (HUD) Brian Montgomery highlighting many topics and issues.
The day also featured independent underwriter and regulator panels, as well as a regulatory compliance session.
Read on for a few details of what Montgomery shared with the audience, as well as what transpired from the other opening day sessions.
|
|
|
NS3: Industry stars honored with OR awards
Posted Date: Wednesday, June 19, 2019
For the eighth 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.
CEO and Publisher Erica Meyer presented the awards Wednesday at the 15th annual National Settlement Services Summit (NS3) in Phoenix.
Read on for details on the winners and their accomplishments.
|
|
|
NS3: Make a Child Smile helps Phoenix youth get school ready
Posted Date: Wednesday, June 19, 2019
Summer may be in its early stages, but Phoenix-area youths know the next school year is around the corner, and attendees at the National Settlement Services Summit (NS3) took time Tuesday to give them a hand.
The eighth annual “Make a Child Smile” community service event, sponsored by Adeptive Software, saw attendees put together book bags with school supplies to help for foster children through Arizona Helping Hands.
Read on for details from the event.
|
|
|
SLK Global adds offerings to SmartTrak
Posted Date: Tuesday, June 18, 2019
SLK Global Solutions has added two new enhancements to its SmartTrak property tax solution.
Read on for more details.
|
|
|
NS3 goes West, industry follows
Posted Date: Sunday, June 16, 2019
The National Settlement Services Summit (NS3) marks its 15th anniversary this week by heading further west than it ever has. In the Valley of the Sun, the largest crowd yet will gather to hear from the best the industry has to offer over three days at the Arizona Biltmore in Phoenix.
More than 700 attendees representing 340 companies – both records for NS3 – will get to hear from a pair of keynote speakers, a Fireside Chat between title and banking icons, and 59 presenters on subjects affecting all parties in the real estate transaction.
Read on for a preview of what’s to come this week.
|
|
|
|
Fidelity, NotaryCam team up on eClosings
Posted Date: Friday, June 14, 2019
Fidelity National Financial (FNF), Inc. announced it will allow the use of NotaryCam to deliver remote online notarization and remote online closing capabilities to its network of direct title and settlement operations and its network of independent title agents.
FNF recently used NotaryCam’s platform to complete its first remote notarization in Texas.
Read on for more details.
|
|
|
Cybercrime task force issues inaugural report
Posted Date: Friday, June 14, 2019
A specialized think tank sponsored by NetDiligence has issued its first report on the ever-growing problem of cybercrime.
The report said the cost to insurers for cybercrime-related incidents in 2017 was estimated to be between $600 million and $900 million, with total breach costs estimated to be between $800 million and $1.2 billion.
Read on to learn the members of the think tank.
|
|
|
First American hires IT strategist
Posted Date: Friday, June 14, 2019
First American Title Insurance Co. has hired an industry veteran to serve as vice president of information technology strategy.
Read on for more details.
|
|
|
Punctual Abstract expands offerings
Posted Date: Friday, June 14, 2019
Louisiana-based Punctual Abstract recently expanded its offerings to include HOA Certification estoppel letter services.
Read on for more details.
|
|
|
|
ATGF issues its first policy in Arizona
Posted Date: Wednesday, June 12, 2019
Attorneys Title Guaranty Fund, Inc. (ATGF) recently issued its first Arizona title policy through an independent agency in Phoenix.
ATGF said it targeted Arizona for expansion because of its proximity and potential for overlap with its operations in Colorado and Utah. The company’s effort to become a licensed underwriter in Arizona was spearheaded by ATGF President Eric Morgan.
Read on to learn more details.
|
|
|
NAR invests in Blockchain-platform Propy
Posted Date: Wednesday, June 12, 2019
Through its real estate technology fund Second Century Ventures, the National Association of Realtors (NAR) has made a strategic investment in the Blockchain-startup Propy, the companies announced.
NAR said its investment in Propy will leverage its network of 1.3 million Realtors and its community of real estate and tech executives.
Read on to learn which other companies NAR recently invested in.
|
|
|
Notarize opens its network to all agents
Posted Date: Wednesday, June 12, 2019
Notarize recently announced it has opened its title network to agents across the country.
Previously, agents wishing to join Notarize’s network had to go through a contracting process. Notarize said it has updated the entire process and platform to make it easier for any title company to join.
Read on for more details.
|
|
|
Millennials capitalize on interest rate declines
Posted Date: Wednesday, June 12, 2019
As average interest rates on all 30-year notes declined in April, the percentage of millennials refinancing loans increased, according to the latest Ellie Mae Millennial Tracker.
Read on for more details.
|
|
|
Zipwhip, Telmetrics partner
Posted Date: Wednesday, June 12, 2019
Zipwhip and Telmetrics Inc. have integrated services to allow businesses to gather attribution data on text messages delivered through existing business phone numbers.
Read on to learn more.
|
|
|
Consumer homebuying sentiment nears all-time high
Posted Date: Wednesday, June 12, 2019
The increase in homebuying sentiment during May largely was attributable to a double-digit increase in consumers who said now is a good time to buy.
Read on for more details.
|
|
|
Pool of refinance candidates largest since 2016
Posted Date: Tuesday, June 11, 2019
A recent drop in mortgage rates increased the pool of candidates who could likely qualify for refinances and save at least 75 basis points by two million, according to an analysis by Black Knight, Inc.
The nearly 6 million refinance candidates are the largest group in nearly three years, and represent an aggregate of $1.6 billion in potential monthly savings through refinancing.
Read on for more details from Black Knight’s analysis.
|
|
|
TitleWave adds operations manager
Posted Date: Tuesday, June 11, 2019
TitleWave has hired an industry veteran to serve as its western Pennsylvania operations manager.
Read on for more details.
|
|
|
First National Title, Qualia integrate
Posted Date: Tuesday, June 11, 2019
Qualia has integrated First National Title Insurance Co.’s policy jackets and closing protection letters into its platform.
Read on for more details.
|
|
|
Flipping rate hits three-year low
Posted Date: Tuesday, June 11, 2019
The cities with the lowest average gross flipping ROI in the first quarter were McAllen-Edinburg, Texas, Daphne, Ala., Boise City, Idaho, Lexington, Ky. and San Antonio.
Read on for more details.
|
|
|
Fidelity extends acquisition deadline to September
Posted Date: Monday, June 10, 2019
Fidelity and Stewart will have three more months to get their deal in order after Fidelity on Monday exercised its right to extend the deadline to September.
Fidelity earlier extended the deadline to June 18, but in a filing with the Securities and Exchange Commission, it stated that the companies extended the deadline one more time.
Read on for more details about the new timetable for the acquisition to close.
|
|