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Closing costs up nearly 6 percent in 2020
Posted Date: Thursday, March 11, 2021
In 2020, the year-over-year difference in the average purchase closing costs was $339 including taxes and $131 excluding taxes, according to an analysis by ClosingCorp.
ClosingCorp CEO Bob Jennings said the cost control can be attributed to the increased use of technology by both lenders and settlement-services providers.
Read on to learn which states had the highest and lowest average closing costs.
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D. Bello ranked on Inc.’s top California list
Posted Date: Thursday, April 8, 2021
Remote production solutions provider D. Bello was named one of the top growing small businesses in California by Inc. magazine.
Read on for more about the recognition.
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New York State Land Title Association celebrates 100 years
Posted Date: Thursday, April 1, 2021
The New York State Land Title Association kicked off a year-long celebration for its 100th anniversary with a statewide virtual food drive.
Read on for more details about the association’s plans for the year.
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Blend to acquire Title365
Posted Date: Thursday, March 18, 2021
Digital lending software company Blend will acquire national title insurance and settlement services provider Title365 from Mr. Cooper Group Inc. in a transaction expected to close in the second quarter.
Mr. Cooper Group, a home loan servicer, will retain a 9.9 percent ownership interest, according to the terms of the agreement.
Read on for more about the acquisition.
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House votes to extend Paycheck Protection Program
Posted Date: Thursday, March 18, 2021
The U.S. House of Representatives voted 415-3 to extend the Paycheck Protection Program (PPP) until the end of May. The legislation goes to the Senate next for consideration.
The National Federation of Small Business (NFIB) praised the move, saying the PPP has been an important tool for small business recovery.
Read on for more from the NFIB on the vote.
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Canyon Title launches moving concierge service
Posted Date: Thursday, March 18, 2021
Through a partnership with MooveGuru, Canyon Title Inc. launched a mover engagement program that provides customers with access to moving and homeownership services and discounts.
Canyon Title is the first title company in the country to provide the MooveGuru service, a step that the CEO said will help distinguish the company from other title agencies.
Read on for more details about the program.
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IDS, eNotaryLog partner to facilitate remote closings
Posted Date: Thursday, March 18, 2021
International Document Services, Inc. (IDS) has partnered with eNotaryLog to support an integration that will permit lenders to perform complete digital closings through the IDS platform Solitude Solution.
Read on to learn more about the new service.
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Westcor Land Title announces latest hires
Posted Date: Thursday, March 18, 2021
Westcor Land Title Insurance Co. recently hired a Florida sales manager and underwriting counsel and a Kentucky agency representative.
Read on for more details about the new employees.
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CFPB: First Amendment does not protect discrimination
Posted Date: Tuesday, March 16, 2021
The Consumer Financial Protection Bureau (CFPB) contends its enforcement action against Townstone Financial Inc. and owner Barry Sturner, accused of violating the Equal Credit Opportunity Act (ECOA) and redlining, does not violate the First Amendment, as the company contends.
“The law provides no respite for Townstone’s discrimination,” the CFPB responded in its opposition to Townstone’s motion to dismiss the enforcement action.
Read on for more about the latest court filing.
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JetClosing names CEO, raises $11 million in investments
Posted Date: Tuesday, March 16, 2021
eClosing platform JetClosing named a new CEO and secured $11 million in funding through investors including PSL Ventures.
The money will be spent on operations and technology to expand the platform, keeping up with the increasing demand for eClosings. According to Fannie Mae, the eMortgage growth rate skyrocketed 1,500 percent from 2018 to 2020.
Read on for more about JetClosing.
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Realty Title names Mid-South president
Posted Date: Tuesday, March 16, 2021
Realty Title has named a new president who will oversee the company’s middle Tennessee, east Tennessee, Alabama and Georgia divisions, as well as oversee operations for 25 offices that conduct closings for the sale and refinancing of residential and commercial properties
He has more than 25 years of experience in the title industry, including multiple senior management positions.
Read on for more details.
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Partnership enables easier access to First American data
Posted Date: Tuesday, March 16, 2021
First American Data and Analytics and Snowflake Data Marketplace have joined forces to help more FinTech and PropTech clients access First American’s property and ownership data.
Read on for more details.
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First National Title Insurance names agency manager
Posted Date: Tuesday, March 16, 2021
First National Title Insurance Co. (FNTI) recently hired a 24-year industry veteran as its agency manager. CEO Chris Phillips said the new hire is a prime example of the type of talent that is being attracted to FNTI.
Read on for more about the new manager.
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Report: Housing value climbs 13.4 percent since last year
Posted Date: Tuesday, March 16, 2021
The housing market gained $4 trillion in value since last February, according to a recent Redfin report. Pandemic-driven relocations from big cities like New York and San Francisco to more affordable, sunny locales like Austin, Texas, and Charlotte, N.C., helped propel the increase
Read on for more from the Redfin report.
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Mid America launches digital-first title company
Posted Date: Friday, March 12, 2021
Click n’ Close Title is Mid America Mortgage’s new digital-first residential title insurance company. By using remote online notarization (RON) technology, Click n’ Close will be able to provide paperless closings.
Mid America Owner and CEO Jeff Bode said the new offering furthers the company’s commitment to modernizing the “archaic” mortgage process.
Read on to learn more about Click n’ Close.
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New platform streamlines for-sale-by-owner process
Posted Date: Friday, March 12, 2021
Efizbo is a new platform that simplifies the for-sale-by-owner process, allowing customers to sell their homes and close a sale entirely online, without an agent.
It launched in Florida and was created to assist the 8 percent of real estate sales annually that are handled by the homeowner.
Read on to learn more about the digital selling platform.
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ClosingCorp names chief product officer
Posted Date: Friday, March 12, 2021
ClosingCorp’s new chief product officer (CPO) has worked at both Black Knight Financial Services and Stewart Title Co.
The CPO will develop and execute ClosingCorp’s product vision and strategy and report directly to CEO Bob Jennings, who said the appointment comes at a critical point in the company’s evolution.
Read on for more details from Jennings.
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Partnership launches automated post-closing system
Posted Date: Friday, March 12, 2021
STACX, an automated post-closing platform for lenders, servicers and title companies, is a new offering from a partnership between Avanze Tech Labs and SoftWorks AI.
Read on to learn more about the workflow management tool.
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CATIC names new CRO, COO
Posted Date: Friday, March 12, 2021
CATIC appointed a new chief revenue officer and chief operating officer from within.
Read on for what CEO James M. Czapiga has to say about the new senior managers.
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Survey: Millennials comfortable buying homes online
Posted Date: Friday, March 12, 2021
A Zillow survey found two in five millennials would be comfortable buying a home online, and two in three would be somewhat comfortable making an offer on a home without seeing it in person.
Read on for more about the attitudes of the largest generation of first-time homebuyers.
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Armatage Capital acquires Meridian Title Corp.
Posted Date: Wednesday, March 10, 2021
Armatage Capital acquired Meridian Title Corp., which has 24 offices in Indiana and Michigan.
Armatage founder Randy Rempp will be Meridian’s CEO, and the current owners of Meridian will retain equity interest in the new entity. Financial terms of the transaction were not disclosed.
Read on to learn what executives from both companies said about the acquisition.
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Qualia unveils title program for PropTech companies
Posted Date: Wednesday, March 10, 2021
Qualia Scale is a full-service program that enables new and existing PropTech companies to attach title and escrow services to their offerings.
The program includes access to Qualia’s digital closing platform, its Partner API and a team of title and escrow experts who can offer guidance.
Read on to learn what Qualia CEO Nate Baker has to say about the company’s new program.
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Consumer sentiment dips on homebuying, rises on job security
Posted Date: Wednesday, March 10, 2021
Although Fannie Mae’s Home Purchase Sentiment Index dipped 1.2 points in February, there was a rise of 14 percent among those who said they were not concerned about losing their job. Fannie Mae Senior Vice President and Chief Economist Doug Duncan attributes the growing optimism about job security to lessening lockdown restrictions and more stimulus funding on the way.
Read on for more details about the HPSI.
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Hocker Title adds client concierge
Posted Date: Wednesday, March 10, 2021
Hocker Title hired a client development concierge to help individualize the real estate closing process for its clients. The free concierge service tailors the closing process for every client.
Read on for more details.
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More single women buying homes
Posted Date: Wednesday, March 10, 2021
Single women saw nearly twice as much growth in home purchases as single men between the fourth quarters of 2019 and 2020, according to a report from Redfin. The report also found women tend to purchase less expensive homes than men.
Read on for more details from Redfin.
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Radian sees real estate revenue rise in fourth quarter
Posted Date: Tuesday, March 9, 2021
Though Radian Group Inc. saw its profits drop in the fourth quarter of 2020, the company saw its real estate segment revenues rise both for the quarter and the year.
The company also had a record year for new insurance written, with it soaring 47 percent from 2019.
Read on for more from CEO Rick Thornberry on the earnings report.
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Small-business owners slowly step up hiring
Posted Date: Tuesday, March 9, 2021
The February NFIB jobs report indicates more small businesses are looking to fill positions. But business owners report they are also struggling to find qualified workers.
The report also indicates that 61 percent of construction firms can’t find workers, half of those citing the lack of qualified labor as their top business problem.
Read on to find what the report and First American Deputy Chief Economist Odeta Kushi have to say about job recovery.
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Forge Institute, Acxiom partner on cybersecurity training
Posted Date: Tuesday, March 9, 2021
Acxiom and Forge Institute’s new partnership aims to further cybersecurity training and workforce development opportunities, focusing on serving hard-to-reach communities.
The companies will expand access to high-quality training and workforce-ready talent, developing advanced cyber technical skills and innovating next-generation cyber capabilities.
Read on to learn what leaders from Acxiom and Forge Institute said about the collaboration.
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Report: Pandemic spurs record housing shortage
Posted Date: Tuesday, March 9, 2021
More people working from home due to the pandemic, coupled with record-low mortgage rates, drove a surge in homebuying over the past year. But with that buying frenzy came a growing housing shortage, according to a report from Redfin.
Read on for a look at the report.
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MortgagePhish names new president
Posted Date: Tuesday, March 9, 2021
MortgagePhish’s new president was instrumental in creating the fraud prevention company’s email phishing platform.
Read on to learn more.
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Refinancing fuels jump in home mortgage lending
Posted Date: Tuesday, March 9, 2021
The number of residential mortgages jumped by almost 50 percent from the fourth quarter in 2019 to the fourth quarter of 2020, to the highest level in more than 13 years, according to the ATTOM Data Solutions’ 2020 U.S. Residential Property Mortgage Origination Report.
Read on for more takeaways from the report.
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Realogy Title Group reports record year
Posted Date: Thursday, March 4, 2021
Realogy Title Group’s strong fourth quarter caps off a record year, according to Vice President, Chief Financial Officer and Treasurer Charlotte Simonelli.
President and CEO Ryan Schneider said growth looks to be continuing into 2021 and the company is in a good position to take advantage of the strong housing market.
Read on to learn what both had to say about Realogy’s fourth-quarter results.
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States Title rebrands as Doma, plans to go public
Posted Date: Thursday, March 4, 2021
States Title will become publicly traded and renamed Doma, after merging with Capitol Investment Corp., a special purpose acquisition company.
States Title founder and CEO Max Simkoff will continue to lead Doma. Capitol Investment Chairman and CEO Mark Ein will join Doma’s board of directors upon completion of the transaction.
Read on to learn what Simkoff said about the partnership with Capitol.
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Report: Foreclosures drop in first quarter
Posted Date: Thursday, March 4, 2021
ATTOM Data Solutions’ first-quarter 2021 Vacant Property and Zombie Foreclosure report shows the number of U.S. residential properties in foreclosure is down compared with the last quarter of 2020.
Read on for more details.
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