|
Industry experts ponder next step in eClosings
Posted Date: Friday, August 7, 2015
Industry representatives at the Consumer Financial Protection Bureau’s eClosing forum largely were supportive of the findings of the report on the bureau’s pilot program. The report spelled out the benefits gained by consumers in the transactions as well as the challenges presented in making eClosings a reality for the mortgage industry. Experts said there are challenges for the industry as it looks to mainstream the adoption of eClosings. Read on for the details.
|
|
|
Wells exiting MSAs; 'I think it's the beginning of the end for MSAs'
Posted Date: Thursday, July 30, 2015
Wells Fargo announced that it will exit all its marketing services agreements (MSA) with real estate professionals and builders, beginning Aug. 1, over a period of 90 days. The lender cited uncertainty surrounding regulatory oversight of MSAs as a prime reason behind the decision. Industry reaction seemed to support that thought. “All the enforcement has shown, no matter what, they’re not compliant. I think it’s the beginning of the end for MSAs,” one said. Read on for all the details, and stay tuned to The Title Report for more expected announcements on this subject, as well as new expected guidance on TRID compliance and more.
|
|
|
Title agents need to become their own advocate, says Diane Evans
Posted Date: Thursday, August 6, 2015
October Research, LLC recently attended American Land Title Association (ALTA) President Diane Evans’ speech at the Texas Land Title Association Annual Conference. She said title agents need to become their own advocate. Keep reading to learn more.
|
|
|
Hold-harmless bills still in play after CFPB finalizes TRID date
Posted Date: Thursday, July 23, 2015
The CFPB recently finalized the TRID implementation date as Oct. 3. In its announcement it also declined to institute a grace-period for those in the industry acting in good faith. There are still, however, two bills in committee that would delay enforcement until Jan. 1. Keep reading to learn more.
|
|
|
Title Financial Corp. celebrates 110 years in title insurance
Posted Date: Sunday, July 26, 2015
Title Financial Corp. is celebrating its 110th anniversary. Current CEO Quinn Stufflebeam and his father, Dwain Stufflebeam, owner and Chairman of the Board, spoke to The Title Report about the company’s history and plans for the future.
|
|
|
Coast Title Insurance Agency celebrates 20 years
Posted Date: Tuesday, July 21, 2015
Coast Title Insurance Agency is celebrating its 20th anniversary. Sandra McDermott, owner of the agency, said she is proud to work with such an experienced and dedicated team. Keep reading to learn more.
|
|
|
Reli Settlement Solutions completes SSAE 16, SOC 1 audit
Posted Date: Thursday, July 30, 2015
Reli Settlement Solutions, LLC announced the successful examination in conformity with the SSAE 16 SOC 1 Type 1. CEO Kent Stewart said he wanted to offer the highest protection available to his banking and lending clients. Keep reading to learn more.
|
|
|
|
|
Fidelity title revenue soars in second quarter
Posted Date: Thursday, July 30, 2015
Fidelity National Financial (FNF) continued a string of strong earnings reports from title insurance companies by posting major title revenue gains in the second quarter. The performance was so good, FNF Chairman William P. Foley II said the company should earn a “premium market multiple” compared to its peers in the title industry. Read on for all the details.
|
|
|
Black Knight announces earnings for Q2, first half of 2015
Posted Date: Monday, August 3, 2015
Black Knight Financial Services announced its financial results for the second quarter and six months that ended June 30, 2015. In May, Black Knight successfully completed its initial public offering. Keep reading to learn how it performed. Read on to learn more.
|
|
|
First American reports increased commercial revenue
Posted Date: Thursday, July 23, 2015
First American announced financial results for the second quarter. CEO Dennis Gilmore said the company’s strong results were driven by a healthy spring selling season, continued growth in its commercial business and elevated refinance activity. Keep reading to learn more.
|
|
|
Old Republic reports ‘best quarterly profit ever’
Posted Date: Sunday, July 26, 2015
Old Republic International Corp. reported its earnings for the second quarter of 2015 and half year results. Old Republic Title Insurance Companies Chairman and CEO Rande Yeager said the title segment recorded its best quarterly profit ever. Keep reading to learn more.
|
|
|
Old Republic changes name of division
Posted Date: Saturday, August 8, 2015
Old Republic is changing the name of its default management services operation. President Mark Bilbrey said the new name will better describe the resources and abilities to enhance existing service offerings and develop new solutions. Keep reading to learn more.
|
|
|
Stewart reports increased title revenues for second quarter
Posted Date: Thursday, July 23, 2015
Stewart Information Services Corp. CEO Matt Morris announced the company’s earnings results for the second quarter of 2015. He also said the company will be exiting the delinquent loan servicing operations market. Keep reading to learn more.
|
|
|
KeyBank Mortgage implements Black Knight LOS
Posted Date: Tuesday, August 11, 2015
KeyBank Mortgage selected Black Knight’s Empower loan origination system to support its expanding operations. Empower automates the various processes involved in originating a loan. Keep reading to learn more.
|
|
|
Ellie Mae awarded patent for LOS system
Posted Date: Thursday, July 30, 2015
Ellie Mae announced the United States Patent and Trademark Office issued the company a patent for the Encompass mortgage origination and processing technology. It covers portions of the Encompass automation and loan origination system. Keep reading to learn more.
|
|
|
Ellie Mae completes launch of major new version of Encompass
Posted Date: Tuesday, July 28, 2015
Encompass received an upgrade to improve mortgage quality, efficiency and compliance before the TRID rule takes effect. It was released to its entire client base of more than 3,000 lending institutions. Read on to learn more.
|
|
|
Fidelity National Financial names VP of agency technology
Posted Date: Tuesday, August 11, 2015
Fidelity National Financial named a vice president of agency technology. He will develop new technologies and make decisions on technology that will help the company’s agents be successful in the evolving title insurance market. Keep reading to learn more.
|
|
|
|
|
|
|
Ellie Mae names chief security officer
Posted Date: Tuesday, August 11, 2015
Ellie Mae named a chief security officer to oversee the company security program, including operations, engineering, governance, risk and compliance. He said he is delighted to be joining this innovative company at such an exciting time. Read on to learn more.
|
|
|
Abstrax, LLC integrates with ResWare
Posted Date: Tuesday, August 11, 2015
Abstrax, LLC integrated with Adeptive Software’s ResWare platform. The integration will improve efficiency in the title search process, the companies said. Read on to learn more.
|
|
|
Landtrust National Title named sales VP
Posted Date: Tuesday, August 11, 2015
Landtrust National Title named a new vice president of sales. He will help develop and grow the business by focusing on attorney partnerships and increasing the company’s footprint. Keep reading to learn more.
|
|
|
|
FHFA Director: eClosings, you’ve got a friend in me
Posted Date: Tuesday, August 11, 2015
Woody and Buzz couldn’t have said it any better. When Federal Housing Finance Agency Director Mel Watt took to the stage to deliver closing remarks at the Consumer Financial Protection Bureau’s eClosing forum, the former real estate attorney had one clear message to deliver: You’ve got a friend in me. Read on to find out why, and the story behind a four-day closing Watt conducted early in his career.
|
|
|
reQuire names new CEO
Posted Date: Saturday, August 8, 2015
reQuire, LLC appointed a mortgage industry veteran as CEO and member of its board of directors. He will be responsible for fulfilling the company’s growth strategy. Read on to learn more.
|
|
|
Brady & Kosofsky earns SOC 2, Type II
Posted Date: Saturday, August 8, 2015
Brady & Kosofsky obtained a service auditor’s review for the SOC 2 Type II and the American Land Title Association (ALTA) Best Practices under section 9540 under the American Institute of CPA’s Statutory Codification. Read on to learn more.
|
|
|
Investors Title reports Q2 earnings
Posted Date: Saturday, August 8, 2015
Investors Title Co. announced its results for the second quarter ended June 30. Net income attributable to the company increased 22.1 percent. Keep reading to learn more.
|
|
|
Westcor provides vetting solution for lenders
Posted Date: Saturday, August 8, 2015
Westcor is seeing success with its agency compliance program according to the company’s recent announcement. Chief Financial Officer Mike Schefstad said he is pleased with the response he has seen from the lending community. Read on to learn more.
|
|
|
Stamford, Conn. now eRecording
Posted Date: Saturday, August 8, 2015
The City of Stamford has implemented eRecording. It joins 34 other eRecording jurisdictions in Connecticut. Read on to learn more.
|
|
|
Ellie Mae reports record revenue in Q2
Posted Date: Thursday, August 6, 2015
Ellie Mae, a provider of innovative on-demand software solutions and services for the residential mortgage industry, reported results for the second quarter ended June 30, 2015. Keep reading to learn more.
|
|
|
WFG aims to grow agent base in New England with new sales lead
Posted Date: Thursday, August 6, 2015
WFG National Title Insurance Co. named a sales representative in its New England Agency Group. He will work to further grow the company’s base of independent title agents in New England. Keep reading to learn more.
|
|
|
NATIC names two state agency managers
Posted Date: Thursday, August 6, 2015
North American Title Insurance Co. added state agency managers in the Great Lakes region as well as the Southeast region. Each has almost 30 years of experience. Keep reading to learn more.
|
|
|
Share of seriously underwater foreclosures properties drops to new low
Posted Date: Thursday, August 6, 2015
RealtyTrac released its Q2 2015 U.S. Home Equity & Underwater Report showing the number and share of seriously underwater properties. RealtyTrac Vice President Daren Blomquist said slowing home appreciation in 2015 has resulted in the share of seriously underwater properties plateauing at about 13 percent of all properties with a mortgage. Keep reading to learn more.
|
|
|
Live Coverage: CFPB strongly supportive of eClosing efforts
Posted Date: Wednesday, August 5, 2015
Consumer Financial Protection Bureau Director (CFPB) Richard Cordray told an audience gathered Wednesday at the bureau’s headquarters the CFPB was “strongly supportive” of eClosing efforts based on the findings of a report from this year’s pilot program. There were, however, no mandates from the CFPB on the process, although Cordray said the report should “spur further industry action.” Read on for the details.
|
|
|
Pilot shows eClosings as ‘promising option’
Posted Date: Wednesday, August 5, 2015
The Consumer Financial Protection Bureau released a report summarizing the findings of its eClosing pilot program. The bureau will host a forum this afternoon to discuss the results, and October Research, LLC will be on hand in Washington D.C. with full coverage. Read on for a look at the initial findings of today’s report.
|
|
|
CSC releases mobile app, adds four eRecording jurisdictions
Posted Date: Monday, August 3, 2015
CSC launched ePrepare Mobile, a free app designed to manage electronically submitted real estate documents. It is also now an approved eRecording vendor in four more counties. Keep reading to learn more.
|
|
|
Kensington Vanguard names VP for Garden City office
Posted Date: Monday, August 3, 2015
Kensington Vanguard named a new vice president, who will be based in the Garden City, N.Y. CEO Brian Cooper said his extensive experience and impeccable reputation in the industry will significantly strengthen the company’s Long Island-based team. Keep reading to learn more.
|
|
|
RealtyTrac appoints new CEO
Posted Date: Monday, August 3, 2015
RealtyTrac, a source for comprehensive housing data, hired a new CEO for its rapidly expanding data file licensing business to continue building on the company’s double-digit revenue growth cultivated over the last 3 1/2 years. He will begin Aug. 17. Keep reading to learn more.
|
|
|
|
|
Flagstar names new mortgage president
Posted Date: Tuesday, July 28, 2015
Flagstar Bancorp, Inc. named a new president of mortgage. He will be responsible for all aspects of the mortgage originations business.
|
|
|
HUD release residential sales report for June
Posted Date: Tuesday, July 28, 2015
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau announced new residential sales and construction statistics for June 2015. Read on to learn more.
|
|
|
Stewart names Chief Information Security Officer
Posted Date: Tuesday, July 28, 2015
Stewart named a new chief information security officer. He is charged with enhancing the company’s security and compliance team. Keep reading to learn more.
|
|
|
MBA says lenders still waiting for TRID software
Posted Date: Tuesday, July 28, 2015
A recent informal survey by the Mortgage Bankers Association showed that as summer began, two-thirds of lenders still were waiting for code or software from vendors. What should lenders who are behind do? What stories can vendors share to make their voices heard at the Consumer Financial Protection Bureau? Read on for the details.
|
|
|
Mortgage loan application defects lessen in June
Posted Date: Tuesday, July 28, 2015
First American released the First American Loan Application Defect Index for June 2015. The Defect Index fell 5.8 percent in June as compared to May and 11 percent from the same time last year. Read on to learn more.
|
|
|
Cordray names new interim deputy director for CFPB
Posted Date: Sunday, July 26, 2015
CFPB Director Richard Cordray named an acting deputy director to replace Steven Antonakes who announced he was stepping down. He also named an acting associate director for the Supervision, Enforcement and Fair Lending division. Read on to learn more.
|
|
|
Fidelity National Title Agency names AVP
Posted Date: Sunday, July 26, 2015
Fidelity National Title Agency appointed a new commercial and major accounts assistant vice president. His focus will be on creating strategic business relationships with the commercial real estate market. Keep reading to learn more.
|
|
|
All cash buyer share drops
Posted Date: Sunday, July 26, 2015
All-cash buyers accounted for 22.9 percent of all single-family home and condo sales in June, down from 24.7 percent of all sales in the previous month and down from 29.1 percent of all sales in June 2014 to the lowest share of monthly cash sales nationwide since August 2008according to RealtyTrac’s June and Midyear 2015 U.S. Home Sales Report. Investor sales in June were also down from a year ago. Keep reading to learn more.
|
|
|
Cook County eRecords first deed
Posted Date: Sunday, July 26, 2015
Cook County in Illinois recorded its first electronic deed from Chicago Title using Simplifile. Simplifile Regional Sales Director Mark Moats said many title offices have been waiting for this news. Keep reading to learn more.
|
|
|
WFG names new leader to Midwest Agency group
Posted Date: Thursday, July 23, 2015
WFG National Title Insurance Co., named a new vice president and Michigan state underwriter to its Midwest Agency group. Chuck Cain, executive vice president, agency operations, national and central regions, said this hire demonstrates WFG’s commitment to growth in the Michigan marketplace. Read on to learn more.
|
|
|
ClosingCorp names chief financial officer
Posted Date: Thursday, July 23, 2015
ClosingCorp, named a new chief financial officer. In this position, he will lead and manage ClosingCorp’s financial affairs including fiscal reporting, budget planning, capital financing and shaping the company’s growth strategy. Read on to learn more.
|
|
|
Fannie Mae, Ellie Mae expand strategic partnership
Posted Date: Thursday, July 23, 2015
Ellie Mae entered into a strategic partnership with Fannie Mae to further integrate Fannie Mae’s suite of risk management tools into Encompass. Fannie Mae and Ellie Mae will collaborate to provide joint clients enhanced functionality that will help ensure loans meet Fannie Mae requirements from eligibility to loan delivery. Keep reading to learn more.
|
|
|
Breaking News: CFPB finalizes TRID date
Posted Date: Tuesday, July 21, 2015
The Consumer Financial Protection Bureau (CFPB) issued a final rule moving the effective date of the Know Before You Owe mortgage disclosure rule, also called the TILA-RESPA Integrated Disclosures rule (TRID). The bureau issued the change to correct an administrative error that would have delayed the effective date of the rule by at least two weeks, until Aug. 15, at the earliest. Keep reading to learn more.
|
|
|
CFPB lieutenant to step down
Posted Date: Tuesday, July 21, 2015
The CFPB’s deputy director and SEFL associate director announced he is stepping down from his position to explore opportunities closer to home. He said he’s missed too many class plays, teacher conference meetings and little league games. Keep reading to learn more.
|
|
|
Fitch completes insurance notching review for U.S. title insurance
Posted Date: Tuesday, July 21, 2015
Fitch Ratings has completed a portfolio review covering three insurance groups within the U.S. Title Insurance sector, focused exclusively on application of Fitch’s recently updated notching criteria for the insurance industry. Keep reading to learn more.
|
|
|
Five more Georgia counties adopt eRecording
Posted Date: Tuesday, July 21, 2015
Georgia expanding eRecording of land documents and records through Simplifile. Documents now can be scanned, uploaded and submitted directly to the counties where they can be stamped, recorded and returned in minutes. Keep reading to learn more.
|
|
|
Hillsborough Title names business development officer
Posted Date: Tuesday, July 21, 2015
Hillsborough Title named a new business development officer to represent the Plant City, East Hillsborough region of Florida. CEO Aaron Davis said he was thrilled to add her to the team. Read on to learn more.
|
|
|
Entitle Direct Group hires senior business development officer
Posted Date: Tuesday, July 21, 2015
Entitle Direct Group appointed a seasoned title insurance and settlement professional as its division president, western region for business development activities. He will lean EnTitle Insurance Company’s expansion into Southern California. Keep reading to learn more.
|
|
|
CFPB to host forum on eClosings
Posted Date: Monday, July 20, 2015
The CFPB will host a forum on the Know Before You Owe initiative on eClosings Aug. 5. This follows the eClosing pilot program the bureau launched earlier this year. Read on to learn more.
|
|
|
Richard Cordray speaks on CFPB birthday
Posted Date: Monday, July 20, 2015
On July 16, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray spoke about how far the bureau has come on its four-year anniversary and the fifth anniversary of the Dodd-Frank Act. He said to date, the bureau’s enforcement activity has secured more than $10 billion in relief for more than 17 million consumers. Read on to learn more.
|
|
|
Republic Title of Texas announces new vice president of residential sales
Posted Date: Monday, July 20, 2015
Janet Allen will be leading the residential sales and business development efforts of Republic Title of Texas Inc. in her new position as vice president of residential sales. She will also oversee customer relations and sales for all of the company’s residential branch locations.
|
|
|
CSC eRecords in three additional counties
Posted Date: Monday, July 20, 2015
Corporation Service Co. was approved to eRecord in three more counties. This allows recording offices to reduce costs and increase efficiency. Read on to learn more.
|
|
|
WFG adds agency support manager
Posted Date: Thursday, July 16, 2015
WFG National Title Insurance Co. named a new agency support manager for the New England region of its agency division. She will focus on collaborating with WFG agents, determining their needs in order to strengthen and build the agency relationship. Keep reading to learn more.
|
|
|
Foreclosures at 10-year low in first half of 2015
Posted Date: Thursday, July 16, 2015
In RealtyTrac’s Midyear 2015 U.S. Foreclosure Market Report foreclosures were down 13 percent from the previous six months and 3 percent from the same time period in 2014. Vice President Daren Blomquist said foreclosures not only returned to pre-housing crisis levels, they have fallen well below those pre-crisis levels. Keep reading to learn more.
|
|
|
Flipping edges out renting, Auction.com says
Posted Date: Thursday, July 16, 2015
Auction.com announced the finding from its Second Quarter 2015 Real Estate Investor Activity Report. Executive Vice President Rick Sharga said he is seeing two major trends driving the numbers. Read on to learn more.
|
|