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The 10 commandments of compliance
Posted Date: Tuesday, October 21, 2014
Following a string of Consumer Financial Protection Bureau (CFPB) consent orders with real estate, title insurance and settlement service providers, as well as ongoing private litigation, legal and regulatory compliance is weighing heavily on these industries. At the Real Estate Services Providers Council Inc.’s (RESPRO) recent conference, two top RESPA attorneys presented their top 10 recommendations for avoiding investigations and dealing with regulatory audits.
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Hale Abstract now a part of Hamilton National Title in Indiana
Posted Date: Thursday, October 23, 2014
Hamilton National Title finalized the asset purchase of Hale Abstract. The transition comes on the heels of industry and government regulations, which have caused lenders, Realtors, investors and property owners to seek compliant agencies.
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Alliant National achieves SSAE certification
Posted Date: Tuesday, October 21, 2014
Alliant National CEO Bob Grubb said the underwriter is now the only one in the nation to provide an independent audit of its agent oversight systems to lenders. It recently completed the Service Organization Control (SOC) 1SM SSAE 16 Type II examination. Read on to learn more.
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Atlantis earns SSAE 16 certification
Posted Date: Thursday, October 16, 2014
Atlantis National Services Inc., a title insurance agency licensed in 32 states, announced that it completed an audit examination for SSAE 16 SOC1 Type 2 certification.
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REDS CEO advises on data security
Posted Date: Friday, October 17, 2014
October Research, LLC recently attended Real Estate Data Shield Founder and CEO Christopher Gulotta’s presentation regarding title agents and data security. He said agents need to be as prepared as their customers for data breach. Read to learn how.
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DocMagic buys eSignSystems
Posted Date: Sunday, October 19, 2014
Loan document preparation provider DocMagic Inc. announced Oct. 16 that it acquired eSignSystems from WAVE Systems Corp. Terms of the acquisition were not disclosed.
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eLynx to acquire Medallion Analytics
Posted Date: Tuesday, October 14, 2014
eLynx, a portfolio company of American Capital, Ltd. entered into a definitive agreement to acquire the assets of Medallion Analytics Company (Medallion). Pittsburgh-based Medallion provides services that help lenders and settlement services companies extract data from documents rather than rely simply on image files. This data can then be used to pre-populate forms and ensure greater quality, accuracy and compliance in loan documents from pre- to post-close. The deal is expected to close Oct. 31.
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New recording portal advances mortgage technology
Posted Date: Thursday, October 23, 2014
Indecomm Global Services released its latest mortgage recording innovation, TRIP – The Recording Information Portal. This new tool integrates real time information and data by jurisdiction with Indecomm’s recording solution.
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Ernst Publishing readies lenders for new CFPB rules
Posted Date: Tuesday, October 14, 2014
Ernst Publishing Co. updated its patented search engine technology, making the system ready for lenders who must comply with the new CFPB Integrated Disclosure rule coming in 2015.
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ATPR offers new property search product
Posted Date: Friday, October 10, 2014
American Tax & Property Reporting Inc., a subsidiary of SLK Global, launched SmartProp, a next generation product in property search reports.
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NeXtraction now available from NextAce
Posted Date: Tuesday, October 21, 2014
NextAce released NeXtraction, an adaptable and accurate data capture engine and related workflow that turns document images into actionable data and information.
“NeXtraction makes possible the true harnessing of data,” NextAce CEO Don Cantral said.
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Stewart hires KC manager
Posted Date: Sunday, October 19, 2014
Stewart Title announced it has hired a regional manager for its Kansas City office. Read on to find out who it is.
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First Nationwide adds to sales team
Posted Date: Thursday, October 23, 2014
First Nationwide Title Agency added an assistant vice president to its sales team to focus on business development, client retention and relationship building.
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Fannie Mae data breacher sentenced
Posted Date: Tuesday, October 14, 2014
Sathish Kumar Chandhun Rajendran, 36, of Sterling, Va., was sentenced after pleading guilty to engaging in unauthorized access to government servers that hosted a Fannie Mae website used to support federal mortgage loan modification programs.
Rajendran pleaded guilty to one count criminal information charging him with unauthorized access to a protected computer causing damage.
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Housing market study paints picture for elections
Posted Date: Friday, October 17, 2014
A new report from RealtyTrac analyzed housing conditions in more than 1,500 counties nationwide to determine the health of markets and their potential effect on elections this fall. Read on to see what RealtyTrac forecasts based on the housing study.
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Home purchases remain constant so far in Fall
Posted Date: Tuesday, October 14, 2014
The Mortgage Bankers Association (MBA) Builder Application Survey data for September shows mortgage applications for new home purchases remained constant relative to the previous month.
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Fed surveys latest conditions in Beige Book
Posted Date: Sunday, October 19, 2014
The Federal Reserve’s seventh Beige Book report gives a look at banking and real estate conditions across the country, in addition to the state of other industries and the overall economic outlook. Read on to see what the Fed’s 12 districts had to say about conditions today.
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AER merger increases Entrust reconciliation footprint
Posted Date: Thursday, October 23, 2014
American Escrow Reconciliation Inc. solidified its merger into Entrust Solutions, increasing the company’s reconciliation footprint by 30 percent, according to Entrust Managing Member Jonathan Yasko.
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ServiceLink grows executive sales team
Posted Date: Thursday, October 23, 2014
ServiceLink added a title industry veteran to its team of national sales executives. Keep reading to find out who.
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Seller Net Sheet adds automated value to lenders
Posted Date: Thursday, October 23, 2014
ClosingCorp is launching a new tool, Seller Net Sheet, designed to inform sellers of their estimated closing proceeds. It instantly calculates a seller’s net proceeds for any property in the nation. Brian Benson, CEO of ClosingCorp told The Title Report that title companies have clients that need to know what a transaction is going to look like before it closes. If a title company can bring information, technology and efficiency to the way it gets that information, the company can help its clients close more transactions.
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Live from ALTA: Day 2
Posted Date: Sunday, October 19, 2014
The Title Report attended the 2014 American Land Title Association’s 2014 Annual Convention. Panels of industry experts spoke on subjects ranging from the Closing Disclosure forms to the eClosings. Keep reading for a summary of what we learned.
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RADAR helps title agents with data breach compliance
Posted Date: Friday, October 17, 2014
Financial institutions such as title insurance companies handle millions of transactions daily involving customers’ sensitive information. Add the complexities of maintaining the privacy of this information and mix in compliance obligations with the myriad of changing state breach laws and you’ve got a recipe for non-compliance, wasted resources, increased risks and potential fines.
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Live from ALTA Annual
Posted Date: Thursday, October 16, 2014
The Title Report is attending the American Land Title Association’s 2014 Annual Convention Seattle. Read on for a glimpse at Day 1.
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First Bank Mortgage sticks with Black Knight’s MSP
Posted Date: Thursday, October 16, 2014
First Bank Mortgage announced that it will continue its nearly 25-year relationship as a client of Black Knight Financial Services, signing a three-year contract to service its mortgage loans on Black Knight’s MSP system.
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Providers preparing for changes to mortgage disclosure forms
Posted Date: Thursday, October 16, 2014
The new loan estimate and Closing Disclosure forms will replace the good faith estimate, HUD-1 settlement statement and TILA disclosures in less than 300 days on Aug. 1, 2015. This will be a culture shift in the settlement services industry, and software companies aren’t wasting any time getting prepared. Representatives from ResWare, RamQuest and SoftPro said they are getting their customers ready when the time comes. Read on to find out how.
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Home price index shows August gains
Posted Date: Thursday, October 16, 2014
For the 30th consecutive month, year-over-year home prices rose nationally, according to the August CoreLogic Home Price Index, released earlier this month. Read on to find out the pace of growth and where CoreLogic forecasts prices to go in the next year.
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States expand data breach notification requirements
Posted Date: Sunday, October 12, 2014
Title Insurance companies, like other financial institutions are vulnerable to data breaches. When this happens there are federal and state laws requiring notification of the breach and the amount of damage done. According to an Oct. 8 report from Perkins Coie, Third Quarter 2014: States Expanding Data Breach Notification Requirements, California, Florida, Kentucky and Iowa have their security breach notification requirements in the past few months.
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North American adds vendors to SearchLink Network
Posted Date: Sunday, October 12, 2014
North American Title Insurance Co. and A.S.K. Services Inc. teamed up to provide A.S.K. Services’ title searches and recording solutions to NATIC’s independent agents in Michigan, Ohio and Indiana. In other NATIC news, teambuilder Lundbeck joins NATIC in California.
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