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TRID marks six-month anniversary
Posted Date: Thursday, April 14, 2016
The TILA-RESPA Integrated Disclosure (TRID) rule, part of the Consumer Financial Protection Bureau’s (CFPB) Know Before You Owe initiative, marked its six-month anniversary to mixed reviews. Although the industry is pushing through implementation there are still issues with technology, the disclosure of fees and general confusion. Read on to learn what professionals in the industry have to say about implementation.
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Conversations with the C-Suite: CATIC
Posted Date: Thursday, April 7, 2016
Welcome to the latest Conversations with the C-Suite, exclusive to The Title Report. In these features we talk to the leaders of the industry about their thoughts on the industry, plans for the future and what title agents need to know to succeed. In this edition, Editor Tara Quinn spoke with Connecticut Attorneys Title Insurance Co. (CATIC) President and CEO Jim Czapiga and Vice President of Business Development and Corporate Communications Chris Kallenbach.
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Zelman: Demographics to drive strong purchase market
Posted Date: Tuesday, March 29, 2016
Kevin Kaczmarek, CFA senior financial analyst, Zelman and Associates analyzes the title insurance industry and provides an outlook for the short-term future in this piece exclusive to The Title Report. Read on to learn more about his insights into the industry and future market
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Cybersecurity, homebuyer awareness top ALTA agenda
Posted Date: Tuesday, April 12, 2016
The American Land Title Association (ALTA) has several priorities for 2016, including working with the Consumer Financial Protection Bureau (CFPB), cybersecurity, homebuyer awareness and its Best Practices. The TILA-RESPA Integrated Disclosures (TRID) rule is not quite in the rear-view mirror yet either, CEO Michelle Korsmo told The Title Report. Read on to learn what she had to say.
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A.M. Best: Cyberrisk and economy remain top concerns
Posted Date: Thursday, March 31, 2016
A.M. Best’s latest quarterly survey results show that insurers, including title insurers, remain pessimistic on economic improvement in 2016, and that cyberrisk has become a prominent industry issue.
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Mark Fleming releases ‘State of Homeownership’
Posted Date: Tuesday, April 12, 2016
First American Financial Chief Economist Mark Fleming released a whitepaper, “The State of Homeownership: Homeownership, Economic Mobility and the Challenges Facing the Nations Latino and African-American Communities.” He said homeownership is one of the most important forms of wealth creation for middle-class Americans. Keep reading to learn more.
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North American Title opens commercial office
Posted Date: Tuesday, March 29, 2016
North American Title has opened a commercial-only office in downtown Salt Lake City. North American Title Senior Vice President State Manager Michael Lewis cited the city’s reputation and its educated and motivated workforce in making the decision. Read on to learn more.
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reQuire acquires risk management company
Posted Date: Sunday, April 10, 2016
reQuire, LLC acquired several business units of a Georgia risk management company in an asset purchase transaction. Through this agreement, reQuire adds the company’s residential, commercial, and technology business units to its existing release tracking and title curative businesses. Keep reading to learn more.
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Secure Insight, Strategic Compliance Partners form alliance
Posted Date: Tuesday, March 29, 2016
Secure Insight (SSI) and Strategic Compliance Partners (SCP) have reached an agreement on a strategic business relationship. According to the announcement, this partnership presents an opportunity for each company to provide its clients with best-in-class complementary services. Read on to learn more.
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Orange Coast Title celebrates 42 years
Posted Date: Tuesday, April 5, 2016
Forty-two years ago, founder and Chairman John Marconi opened of the first Orange County, Calif.-based title company, Orange Coast Title Co. (OCT). It started with 13 people and now employs more than 700 people in 48 states. President and Chief Operating Officer Rich Macaluso spoke with The Title Report about this milestone.
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First American Mortgage Solutions achieves ISO 9001
Posted Date: Thursday, March 31, 2016
First American Financial Corp. announced its Mortgage Solutions group has earned ISO 9001 certification, a standard that sets criteria for quality management systems (QMS). Securing independent third-party validation of continual improvement efforts sets a new precedent for the mortgage lending industry, First American Mortgage Solutions President Kevin Wall said.
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Providence Title receives SOC 2 Type 1 report
Posted Date: Tuesday, March 29, 2016
Providence Title Co. of Texas received a SOC 2 Type 1 report from HA&W and is certified compliant with the ALTA Best Practices. President John Kulasa said Providence Title strives to be a leader in the title industry. Keep reading to learn more.
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Passport Title Services technology platform passes third party audit
Posted Date: Thursday, March 24, 2016
Passport Title Services, LLC announced its turn-key SSAE 16 SOC 2 compliant technology platform is offered to title agents as part of the company’s partnership model. Passport Title offers a solution to title agents who want to grow and who understand the importance of data-security in the technology they utilize according to the company’s announcement. Read on to learn more.
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Data Trace expands in Texas with 12 new title plants
Posted Date: Monday, April 18, 2016
Data Trace Information Services introduced 12 new title plants in Texas. Data Trace President Robert Karraa told The Title Report the company is continuing its expansion nationally and in Texas. Keep reading to learn more.
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DocMagic launches new total eClosing solution
Posted Date: Thursday, March 31, 2016
DocMagic, Inc. launched its fully integrated eClosing solution. It electronically transforms the entire mortgage process from initial eDisclosure to final eClosing through investor eDelivery. Keep reading to learn more.
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NTC releases eRecording whitepaper
Posted Date: Tuesday, April 5, 2016
Nationwide Title Clearing (NTC) released a whitepaper, “The Evolution of eRecording from the County Recorder’s Perspective” by Vice President of Sales Danny Byrnes. In it, he says although eRecording is growing in popularity there are some common mistakes. Keep reading to learn more.
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Knight Barry Title launches construction title rate calculator
Posted Date: Sunday, March 27, 2016
Knight Barry Title has launched the first residential construction title rate calculator in Wisconsin. This tool will help lenders enter their information online and obtain the quite instantly. Keep reading to learn more.
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Cyber attackers are learning the title industry
Posted Date: Sunday, March 27, 2016
There is a lot of news about cybersecurity putting individuals on alert regarding potential threats to their businesses. Cloudstar CEO Gregory McDonald told The Title Report what title agents need to know. The most important tip is, it can, and most likely will, happen to you.
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Third Party Compliance Special Report: SSAE, ISO audits and why they matter
Posted Date: Tuesday, April 12, 2016
With third-party auditing of companies becoming more important to lenders, title companies more often are looking into new, stricter standards, certifications and attestations. Among those audits are SSAE and ISO certifications, abbreviations that might not be well known. Read on to find out the nuts and bolts of these audits and why they matter, from title industry executives such as John Stauffer of Title Midwest, HDEP International’s Virenda Nath, and industry auditors Ken Johnson, Eric Ratcliffe and Dave Anders.
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North American National Title Solutions appoints commercial veteran
Posted Date: Sunday, April 10, 2016
North American National Title Solutions recruited a 28-year veteran to serve as a national commercial business development representative. He is charged with expanding the division’s footprint on a national basis. Read on to learn more.
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First mortgage origination balances increase in 2015
Posted Date: Sunday, April 10, 2016
According to data from the latest Equifax National Consumer Credit Trends Report, the total balance of new first mortgages originated in 2015 increased 42.9 percent from 2014, while the total number of new first mortgages originated in that same time increased 31.6 percent. Read on for all the details.
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TransCounty Title Agency names leader for Central Ohio region
Posted Date: Sunday, April 10, 2016
TransCounty Title Agency appointed a new director of operations for the Central Ohio region. She will be responsible for providing growth opportunities, operational excellence and an unbeatable customer experience during the closing process. Keep reading to learn more.
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Cordray: Lenders can’t unilaterally shift TRID liability to closing agents
Posted Date: Thursday, April 7, 2016
In a reply letter to Sen. Bob Corker, delivered Thursday before Consumer Financial Protection Bureau Director Richard Cordray appeared before the Senate Banking Committee, Cordray said that indemnification agreements between lenders and closing agents over mortgage transactions would not allow lenders to shift their liability for errors. Read on for all the details.
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More counties eRecording with CSC
Posted Date: Thursday, April 7, 2016
New jurisdictions began eRecording with CSC. Any document submitter with a computer, Internet connection and scanner/printer now can record electronically. Read on to learn more.
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CoreLogic: February home prices up
Posted Date: Thursday, April 7, 2016
Home prices nationwide, including distressed sales, increased year-over-year by 6.8 percent in February 2016, according to CoreLogic’s Home Price Index. It showed home prices are up both year over year and month over month. Read on to learn more.
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First American Mortgage Solutions acquires appraisal firm
Posted Date: Thursday, April 7, 2016
First American Mortgage Solutions, LLC, a subsidiary of First American Financial Corp. acquired a national appraisal company to augment First American Mortgage Solutions’ existing valuation capabilities. Read on to learn more.
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Property Debt Research boosts sales staff
Posted Date: Thursday, April 7, 2016
Property Debt Research, a municipal lien search company, appointed a new account executive. He will work directly with title agents, real estate attorneys, real estate paralegals and financial institutions to grow the company’s core business. Keep reading to learn more.
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Title company bought by valuation services provider
Posted Date: Thursday, April 7, 2016
A Rhode Island-based title company announced that it has been acquired for as much as $96 million, subject to certain performance metrics. Keep reading to learn more about the deal and the valuation services provider which made the acquisition.
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WFG grows agency group in Chesapeake Region
Posted Date: Tuesday, April 5, 2016
The Agency Group for WFG National Title Insurance Co. appointed a vice president and regional manager and underwriting counsel for the company’s new Chesapeake Region. The region is comprised of agents in Maryland, Delaware and Washington D.C. Keep reading to learn more.
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Freddie Mac sees positive trends in March outlook
Posted Date: Tuesday, April 5, 2016
Freddie Mac released its monthly Outlook for March, forecasting that total home sales, housing starts and house prices will reach their highest levels in years despite inventory and affordability challenges. Read on to learn more.
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First Western Title names new CEO
Posted Date: Tuesday, April 5, 2016
First Western Title, the Texas Division of First International Title, has named a new CEO. He said the company has incredibly talented people on staff and he looks forward to leading the title agency. Read on to learn more.
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Commercial real estate market reaches new high in Q4
Posted Date: Tuesday, April 5, 2016
Commercial real estate activity reached a new cyclical high in the fourth quarter of 2015, according to the Ten-X Capital Trends report. The total deal volume for the five major CRE sectors reached $150.3 billion, which amounts to a 20.2 percent increase from a year ago. Read on to learn more.
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