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Industry veteran launches title company, insurer focused on lenders
Posted Date: Thursday, May 20, 2021
A 30-year industry veteran recently launched a title company and title insurer in California that will focus on the lender business.
The title company is licensed in California, Arizona, Nevada, Texas and Florida, and expects to be in Colorado by the end of May. Eventually, it plans to operate in as many as 40 states.
Read on for more about the new companies.
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RamQuest and Pavaso GiveBIG
Posted Date: Tuesday, June 15, 2021
RamQuest and sister company Pavaso joined forces to GiveBIG in May, sponsoring a charity matching campaign.
Read on for more about the campaign.
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Patten Title hires senior escrow officer
Posted Date: Friday, June 4, 2021
Patten Title Co. hired a 15-year title industry veteran as senior escrow officer and branch manager of its new Houston office.
Read on for more.
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Knight Barry acquires two Florida companies
Posted Date: Thursday, June 3, 2021
Wisconsin-based Knight Barry Title announced the acquisition of two more Florida companies, including its first in the Orlando market. The Orlando company has two offices, and the second company will mark Knight Barry’s fourth office in South Florida.
The acquisitions bring the total number of Knight Barry offices in Florida to 15.
Read on for more about the acquisitions.
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Investors Title revenues soar 141 percent year-over-year
Posted Date: Thursday, June 3, 2021
Investors Title Co. reported record results in the first quarter for total revenues, net premiums written and net income.
The company reported net income of $13.8 million, or $7.29 per diluted share, compared with a net loss of $7 million, or $3.71 per diluted share, for first quarter 2020, according to the company’s earnings report.
Read on for more from the earnings report.
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SingleSource expands into Alabama, New Mexico
Posted Date: Thursday, June 3, 2021
Title services provider SingleSource expanded its title agency licenses into Alabama and New Mexico.
The company, operating in most areas of country, is licensed to provide title insurance in 37 states and the District of Columbia. SingleSource plans to continue expanding into the western U.S.
Read on for more details about the company’s expansion plans.
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Access Title names manager for new Florida office
Posted Date: Thursday, June 3, 2021
Access Title Agency named a 22-year title and escrow veteran as manager of its new office in Bonita Spring, Fla.
Read on for more about the new office and manager.
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SoftPro integration with CertifID secures wire transfers
Posted Date: Thursday, June 3, 2021
SoftPro’s new integration with CertifID targets wire fraud prevention. The integration is backed by up to $1 million in direct insurance coverage on every wire transfer.
Read on for more details.
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First American names new president
Posted Date: Thursday, May 27, 2021
First American Financial Corp. has appointed a new president, who will have oversight responsibility for the corporation’s operating groups, including its title insurance, specialty insurance and data and analytics businesses.
The new president has been with First American since 1999 and most recently served as executive vice president.
Read on for more about the new president.
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Fidelity National title segment revenues up 33 percent
Posted Date: Thursday, May 27, 2021
Fidelity National Financial’s title segment generated a total revenue, excluding recognized gains and losses, of $2.6 billion in the first quarter, compared with $1.9 billion in the first quarter of 2020, according to the company’s first quarter earnings report.
Refinance orders closed increased 103 percent on a daily basis, compared with the first quarter of 2020.
Read on for more from the earnings report.
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Kuterdem joins SoftPro as chief technology officer
Posted Date: Thursday, May 27, 2021
Gorkem Kuterdem, SoftPro’s new chief technology officer (CTO), will focus on long-term research and development strategy as well as ensure the security of the company’s software and service offerings.
Kuterdem has worked as both the CTO for a major underwriter and vice president of strategy and product development for a closing and title software company, according to SoftPro.
Read on for more.
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Guaranty Commercial Title redesigns website
Posted Date: Thursday, May 27, 2021
Guaranty Commercial Title launched a redesigned website that showcases its team, technologies, and commitment to positivity, both in the workplace and around the community.
Read on for more about the updated site.
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Westcor hires VP, southwest region manager
Posted Date: Thursday, May 27, 2021
Westcor Land Title Insurance Co. hired a 25-year industry veteran as its new vice president, southwest region manager.
Read on for more about the new vice president.
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Expetitle partners with Nada
Posted Date: Tuesday, May 25, 2021
Expetitle has partnered with real estate service and technology platform Nada to offer streamlined and centralized home closings. The partnership is part of Florida-based Expetitle’s expansion into Texas.
It also enables Nada to bring its title and escrow service fully online, according to Nada Vice President of Operations Micah Lindsey.
Read on for more about the partnership.
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Old Republic names new CFO
Posted Date: Tuesday, May 25, 2021
Old Republic International Corp. (ORI) named a new chief financial officer to replace Karl Mueller, who announced his retirement effective June 30. Mueller ends a 40-year career, with the last 17 years spent with ORI.
The company also named a new deputy CFO, who will continue to serve as CFO of the company’s title segment.
Read on for more about the new appointments.
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ALTA supports SECURE Notarization Act
Posted Date: Tuesday, May 25, 2021
The American Land Title Association (ALTA) applauded U.S. Sens. Mark Warner (D-VA) and Kevin Cramer (R-ND) for reintroducing the bipartisan Securing and Enabling Commerce Using Remote and Electronic (SECURE) Notarization Act of 2021.
The legislation would allow for the immediate nationwide use of remote online notarization technology, which an ALTA survey showed increased 547 percent from 2019 to 2020.
Read on for more from ALTA.
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First American: Housing supply shortage hard to undo
Posted Date: Tuesday, May 25, 2021
The current housing market’s low inventory is not expected to turn around any time soon, according to First American Chief Economist Mark Fleming.
Read on for more from Fleming.
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Investor home purchases rise for first time since pandemic
Posted Date: Tuesday, May 25, 2021
Home purchases by investors rose in the first quarter, the first time since the pandemic, according to a report by Redfin.
Read on for more from the report, including those states with the highest rates of investor purchases.
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Digital platform Better to merge with Aurora Acquisition
Posted Date: Friday, May 21, 2021
Digital homeownership platform Better HoldCo. Inc. and Aurora Acquisition Corp. have entered into a merger agreement that will make Better a publicly listed company. The transaction is expected to close in the fourth quarter of 2021.
Aurora Chief Investment Officer Prabhu Narasimhan will join the combined companies’ board of directors.
Read on for more about the pending merger.
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Radian title segment sees 56 percent revenue increase
Posted Date: Friday, May 21, 2021
Although Radian Group reported a drop in revenue year-over-year in its first-quarter earnings report, the title segment reported a 56 percent increase in revenues.
Chief Financial Officer and Senior Executive Vice President J. Franklin Hall said the “notable increase” in title revenues is due in part to new customer acquisition.
Read on for more from the earnings report.
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SoftPro enhances integration with First American's AgentNet
Posted Date: Friday, May 21, 2021
SoftPro released a newly enhanced integration with First American’s AgentNet platform, enhancing the production of eJackets and closing protection letters.
Other features include bulk remittance of up to 200 files, on-screen reconciliation of premiums, and a simplified process for requesting approval for over limit and other unusual risks.
Read on for more about the integration.
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Bidding wars continue heating up
Posted Date: Friday, May 21, 2021
Nearly three out of four (72 percent) home offers written by Redfin agents in April faced competition, up from 66.7 percent in March and from 44.9 percent a year ago, according to a recent Redfin report.
Read on for more from the report, including the most competitive markets.
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Notarize appoints board member
Posted Date: Friday, May 21, 2021
Notarize appointed the former CEO and president of TIAA to its board of directors.
Read on for more about the appointment.
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Report: April home value highest since 2005
Posted Date: Friday, May 21, 2021
Home value for a typical home hit $281,370 in April, up 11.6 percent from last year, to the highest seen since 2005, according to a recent Zillow market report.
Read on for more from the report.
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Doma adds three new states, Wells Fargo
Posted Date: Thursday, May 20, 2021
Doma announced its expansion into three new states. The company’s Intelligence platform now covers approximately 76 percent of the country, based on gross written premium.
The company also announced that Wells Fargo & Co. has agreed to use its Intelligence platform and title and escrow solutions for its customers’ real estate closings.
Read on for more.
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NFIB: Job openings remain at record highs
Posted Date: Thursday, May 20, 2021
The National Federation of Independent Business (NFIB) Small Business Optimism Index rose 1.6 points from March to April, but a record 44 percent of small-business owners reported job openings they could not fill.
The percent of small-business owners expecting better business conditions over the next six months fell 7 points to a net negative 15 percent, which the NFIB called “surprisingly glum.”
Read on for more from the NFIB index.
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RamQuest, SearchCONNECT integrate
Posted Date: Thursday, May 20, 2021
RamQuest’s Closing Market digital network has integrated with SearchCONNECT, an affiliate of Investors Title and National Investors.
Read on for more details.
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Anderson Biro boosts research team
Posted Date: Thursday, May 20, 2021
Cleveland-based executive recruiting firm Anderson Biro hired a legal and real estate research veteran to join its team.
Read on for more about the new team member.
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Report: Home equity grows during first quarter
Posted Date: Thursday, May 20, 2021
About 32 percent of homes were considered equity-rich in the first quarter, up from both the fourth quarter and a year ago, according to ATTOM Data Solutions’ first-quarter 2021 U.S. Home Equity & Underwater Report.
Read on for more from the report, including which states has saw the biggest gains in the share of equity-rich homes.
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First American title segment revenue up 45 percent
Posted Date: Tuesday, May 18, 2021
First American Financial Corp. title insurance and services segment’s revenues were up 45 percent year-over-year, according to the company’s first-quarter earnings report.
The title segment posted a pretax margin of 17.1 percent, a record for the first quarter, according to First American CEO Dennis Gilmore.
Read on for more from the first-quarter earnings report.
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Shaddock National Holdings acquires Continental Title
Posted Date: Tuesday, May 18, 2021
Shaddock National Holdings announced it finalized the majority equity acquisition of Kansas-based Continental Title Co. (CTC), which has more than 20 locations in Kansas and Missouri.
CTC President Matt McBride will continue to run the company after the acquisition, and all employees will be retained, according to Shaddock National.
Read on for more about the acquisition.
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ANADeeds rebrands as bundle, launches website
Posted Date: Tuesday, May 18, 2021
National legal real estate document provider ANADeeds has rebranded as bundle.
ANADeeds founder Frank Dec will serve as bundle’s chief legal officer, and Business Development Director Shawn O’Brien and Director of Production Michael Alterio will continue in their roles. Knox Capital has an equity interest and a business advisory role alongside bundle leadership.
Read on for more details.
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Redfin predicts record high home sales this year
Posted Date: Tuesday, May 18, 2021
In a recent report, Redfin predicts a record $2.53 trillion worth of home sales this year, due to rising demand and surging home prices.
Read on for more, including which regions of the country should see the most home sales.
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