News By Edition

Title and settlement automation and analytics platform Title iO entered an integration partnership with RBJ Software Inc., a company which provides software and services to escrow professionals.

The partnership will allow Title iO’s GreenFolders office management product to integrate with RBJ’s Evolution Escrow Processing software, which the companies said will provide efficiency for their mutual clients.

Read on for more about the integration.

AccuTitle, which includes title management platforms TitleFusion, Landtech, Closers’ Choice and TrackerPro, announced Landtech is now integrated with Notarize for a range of eNotary services, including remote online notarization. AccuTitle plans to expand the integration to its other platforms.

AccuTitle also announced expanded integrations with Stewart Title and CATIC.

Read on for more details about the integrations.

Homebuyers paid a premium for homes at high risk for fire and flooding during the pandemic, according to Redfin research. Purchases of second homes with high flood, storm and/or heat risk surged roughly 40 percent over the past two years.

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Homeowner portal Milestones raised $10.3 million in Series A funding. Updater, a relocation technology platform, led the investment round. Other strategic investors include Second Century Ventures, Peerage Capital, McLaughlin Ventures, WAV Group Ventures, T3 Partners and Sellers Shield.

The funding comes after three years of product development and will help fuel a go-to-market strategy, according to the company.

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Nearly half (49 percent) of all small-business owners reported having job openings they couldn’t fill in July, according to the National Federation of Independent Business. That’s down two points from May’s record high.

A net 48 percent of owners reported raising compensation, just two points below the record high set in January.

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Title and settlement services franchise business TitleEase LLC added a new franchisee, Mesi Title Agency, headquartered in Buffalo, N.Y.

TitleEase provides a path for mortgage originators, servicers and real estate professionals to own and operate a title agency without the expense of building a platform.

Read on for more details about the new franchise.

Cleveland-based Anderson Biro Staffing added a recruiter to its team. She coordinates interviews and facilitates assistance and next steps for new hires preparing for orientation.

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Profit margins on median-priced single-family home and condo sales reached a record 55.5 percent in the second quarter. That’s according to ATTOM’s second-quarter home sales report.

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Zillow and iBuyer Opendoor Technologies Inc. announced a multi-year partnership that will allow homesellers on the Zillow platform to request an Opendoor offer to sell their home.

Homesellers who are Zillow customers will be able to request and view an offer directly from Opendoor and compare it to an open-market sale using a real estate agent.

Read on for more about the partnership.

First American Financial Corp. reported total revenue of $2.1 billion in the second quarter, down 9 percent year-over-year, according to the company’s second-quarter earnings report.

In the title segment, total revenues were $2.1 billion, down 0.5 percent year-over-year. Direct premiums and escrow fees were up 1 percent.

Read on for more from the earnings report.

In October Research’s latest economic forecast series webinar, Zonda’s Housing Economics Manager Nikolas Scoolis provides a deep dive into the shifting housing market, including data about new home construction. He also shares Zonda’s market forecast.

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Home equity financial platform Point is leveraging the Doma Intelligence platform to scale its operations. Since onboarding with Doma, Point said it increased its order volume by about 200 percent in four months.

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US Tax Deed Solutions, a tax deed verification service provider affiliated with LOGS Network and Title & Abstract Agency of America, named a vice president of national sales. She also is executive director, national title and settlement services for Title & Abstract Agency of America.

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As the housing market adjusts to a post-pandemic normal with higher mortgage rates, housing market potential will subside from recent highs, according to First American Chief Economist Mark Fleming. But those highs were the exception, not the norm.

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Proptech company Equity Real Estate Services, through a partnership with Grid151, launched IRA Title Pro, a national title company powered by Invested United Title Corp. that focuses on real estate IRA closings.

IRA Title Pro can close on average 11 days faster than a title company that doesn’t specialize in IRA real estate transactions, according to the company.

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Digital title and settlement company Endpoint, a startup funded by First American, launched new proprietary solutions tailored for proptech companies, investors and tech-forward real estate organizations looking for a scalable digital closing platform.

Endpoint now offers a suite of APIs that automatically opens orders, tracks transaction status, exchanges documents and provides custom reporting features and notifications.

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Real estate digital payment platform DepositLink closed on a $3 million Series Seed 2 funding round from angel investors. The funding is earmarked for platform development, sales, marketing and customer success to accelerate market penetration and expand deployments within existing accounts.

The mobile responsive platform offers bank-level security, a $500,000 per transfer limit and workflows for real estate, title companies and escrow holders.

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Illinois-based Morreale Real Estate Services launched a remodeled MSite client and transferee portal for its clients and partners. Morreale provides national title and closing services, acquisition and inventory management services to the corporate relocation and mortgage industry.

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Stewart Title strengthened its presence in Ohio and Indiana by boosting its team. It added an agency sales manager and an agency sales representative.

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Clearwater, Fla.-based Vantage Point Title name a vice president, national sales. He is responsible for developing strategic long-term relationships with lending partners.

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Tabitha King and Melanie Harper have nearly 35 years of combined experience in the title industry. In May, the pair decided to launch their own company, Authority Title and Escrow, in Murfreesboro, Tenn.

Harper and King say their experience opening a title company for a law firm helped them successfully launch their own business.

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Stewart Information Services Corp. reported a total revenue of $844.1 million in the second quarter, up 3 percent year-over-year from $818.8 million.

In the title segment, operating revenue increased by $17.2 million, or 2 percent, year-over-year, which the company attributed to increased agency operations revenue, partially offset by lower revenue from direct title operations.

Read on for more from the second-quarter earnings report.

ATTOM sold its RealtyTrac and Homefacts websites to Nations Info. As part of the transaction, Nation Info signed a multi-year agreement to become an ATTOM data-licensing customer.

The divestiture will allow ATTOM to focus 100 percent on continuing to accelerate the growth of its data-licensing business, according to the CEO.

Read on for more about the sale.

Clearwater, Fla.-based Vantage Point Title named a director of sales, vice president of strategic accounts. He joined Vantage Point in 2019 and helped advance the technology and networking capabilities of the company.

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Peerage Realty Partners named a new executive vice president, U.S. core services. The newly created role will lead the overall growth and performance of the company’s joint venture relationships with title companies Kensington Vanguard and LandTrust.

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Since the beginning of 2022, the 30-year, fixed mortgage rate has increased 1.8 percentage points. Because of that, more first-time homebuyers may choose adjustable-rate mortgages because the lower mortgage rate gives them a purchasing power ‘boost’ over the fixed-mortgage rate.

Read on for more from First American Chief Economist Mark Fleming.

World Wide Land Transfer Holdings (WWLT), a Corridor Capital portfolio company, acquired Pennsylvania-based First Partners Abstract Co. (FPA) Inc., which has become a subsidiary of WWLT.

FPA has eight affiliate companies across 13 office locations and a staff of 70 across Bucks and Montgomery counties, Pa., and Ocean City, N.J.

Read on for more about the acquisition.

California state-chartered commercial bank Genesis Bank launched Genesis Bank Escrow, a new division.

Genesis Bank Escrow handles all aspects of commercial real estate-related escrow transactions, including compliance, ensuring all buyer and seller conditions are satisfied, timely processing and filing of relevant documentation and maintaining custody and disbursement of escrow funds.

Read on for more about the new division.

NotaryCam, a Stewart-owned provider of remote online notarization (RON) and eClosing solutions, made updates to its eClose360 platform.

The system updates include integrations with escrow software vendors, an enhanced dashboard and more mobile-friendly interface for RON transactions, expanded browser options and the ability to make last-minute document updates.

Read on for more about NotaryCam’s updates to its platform.

Stewart Title named a 10-year real estate and title law veteran as Louisiana underwriting counsel. She has an extensive background in commercial real estate deals.

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Surety Family of Companies named a senior vice president, sales. He will be responsible for the company’s penetration into central and north New Jersey.

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Just under half (49.9 percent) of home offers written by Redfin agents faced competition on a seasonally adjusted basis in June. That’s first time the bidding-war rate has been below 50 percent since May 2020.

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Orlando-based New Home National Title and Nevada-based CoinEver, a cryptocurrency payment processing company, announced a joint venture to create a crypto title company.

Through the agreement, New Home National Title will be able to offer its clients the ability to use cryptocurrency as payment for new homes.

Read on for more about the joint venture.

Remote online notarization (RON) company SIGNiX integrated with Zoom Video Communications, Inc. With the integration, SIGNiX’s RON solution enables notaries to remain compliant with their state’s laws that require two-way audio and video communications.

Read on for more.