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Report: Title insurers have adequate capital to survive pandemic
Posted Date: Thursday, June 18, 2020
As they deal with the COVID-19 pandemic, U.S. title insurers will likely face a decrease in revenues from residential and commercial real estate markets in 2020, according to a new report.
However, because of the industry’s strong 2019, the capitalization levels of title insurers likely will be adequate, according to the report from Fitch Ratings.
Read on for more from Fitch’s analysis.
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Agents National launches automated search and decision engine
Posted Date: Monday, June 15, 2020
Agents National Title Insurance Co. (ANTIC) has launched an automated title data search and decision engine, the company announced.
ANTIC said its automated title data search and decision engine uses artificial intelligence and machine learning, combined with sound underwriting guidelines, to search both traditional and non-traditional property data sources.
Read on for more details about ANTIC’s new search tool.
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Shaddock acquires equity interest in Arizona title agency
Posted Date: Monday, June 8, 2020
Shaddock National Holdings has acquired a major equity interest in a Phoenix-based title insurance agency, the company announced. Financial terms of the deal were not disclosed.
The acquired title agency operates six offices in the greater Phoenix area and will retain its name and current staff, which numbers more than 50.
Read on learn more about the newest member of Shaddock National Holdings.
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ALTA backs Internet fraud prevention legislation
Posted Date: Thursday, June 18, 2020
The American Land Title Association is supporting a California congressman’s proposed legislation that would require the Federal Reserve, Federal Trade Commission and FBI to study business email compromise scams and provide suggestions for potential solutions.
ALTA CEO Diane Tomb said “we must do what we can and consider all safeguards and procedures to help protect consumers and their money.”
Read on for more details.
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Virginia real estate firm starts title agency
Posted Date: Tuesday, June 9, 2020
A Richmond, Va.-based real estate company has launched a title and escrow company offering title, escrow, property management, land development and consulting.
The real estate company said it also plans to develop an investment and consulting firm to launch in the first quarter of 2021.
Read on to learn about the two executives tapped to oversee the agency.
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Stewart’s ‘strong’ financial strength rating affirmed
Posted Date: Monday, June 8, 2020
Fitch Ratings has affirmed Stewart’s insurer financial strength ratings of ‘A-’ (Strong) and long-term issuer default rating of ‘BBB,’ the agency announced.
Fitch noted that there have been no unexpected adverse developments from the termination of Stewart’s deal to be acquired by Fidelity. The agency also noted moves Stewart has taken because of the coronavirus.
Read on to learn the details of Fitch’s assessment.
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Pango Group opens new escrow company
Posted Date: Wednesday, June 17, 2020
The California-based family of companies that includes several settlement businesses has opened a new escrow company, the company announced.
Pango Group said the new company will provide escrow services to clients in the areas of residential purchases, commercial purchases, refinances, and new construction. The new company is located in Lancaster, Calif.
Read on for more details.
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Near North Title Group acquires Florida agency
Posted Date: Thursday, June 11, 2020
Chicago-based Near North Title Group has acquired a Florida title agency with offices in Miami and Orlando, the company announced. Financial terms of the deal were not disclosed.
Near North CEO Daniel Fowler said the acquisition will allow the company to offer turnkey title and escrow services to our clients throughout the state of Florida.
Read on for more details about the acquisition.
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Merger creates ‘unstoppable’ real estate company
Posted Date: Thursday, June 18, 2020
Terra Holdings’ Halstead has combined with Brown Harris Stevens, creating what they call one of the most powerful privately held real estate companies in the country.
Brown Harris Stevens and Halstead in 2019 closed a combined 6,000 transactions totaling more than $9 billion. Jointly, the companies have 2,500 agents.
Read on for more details.
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IberiaBank, First Horizon merger approved
Posted Date: Wednesday, June 17, 2020
Federal regulators have approved the all-stock merger of IberiaBank and First Horizon, creating one of the top 25 banks by deposits in the U.S.
The combined company and bank will operate under First Horizon’s name and will be headquartered in Memphis, Tenn. IberiaBank’s holding include nearly 30 title insurance offices.
Read on to learn more.
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ALTA showcases members in video
Posted Date: Friday, June 26, 2020
The American Land Title Association has released a video that showcases its members work behind the scenes to make homeownership possible.
Read on to learn more.
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NTC’s Hillman honored as ‘thought leader’
Posted Date: Friday, June 26, 2020
Nationwide Title Clearing, Inc.’s CEO John Hillman has been recognized by the PROGRESS in Lending Association as a 2020 Thought Leader.
Read on for more details.
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Kensington Vanguard expands Arizona team
Posted Date: Tuesday, June 23, 2020
Kensington Vanguard National Land Services has hired two executives to aid its commercial title insurance efforts in Arizona.
Read on to learn more.
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Qualia, The Closing Exchange integrate
Posted Date: Tuesday, June 23, 2020
The Closing Exchange’s nationwide notary/attorney signing services, eSign/hybrid and remote online notarization have been integrated into Qualia’s Marketplace.
Read on to learn more.
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Clear Title adds branch manager
Posted Date: Tuesday, June 23, 2020
Phoenix-based Clear Title Agency of Arizona has hired a branch manager.
Read on for more details.
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Ellie Mae, CoreLogic integrate
Posted Date: Thursday, June 18, 2020
CoreLogic’s verification of employment and income solutions have been integrated into Encompass by Ellie Mae.
Read on for more details.
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Homebuying demand up significantly
Posted Date: Thursday, June 18, 2020
Homebuying demand for the week of June 1-7 was 25 percent higher than it was pre-pandemic in January and February.
Read on for more details.
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ALTA supports Supreme Court’s LGBTG ruling
Posted Date: Wednesday, June 17, 2020
The American Land Title Association joined groups such as the National Association of Realtors in supporting the U.S. Supreme Court’s decision to shield gay, lesbian and transgender people from job discrimination.
The high court’s 6-3 decision ruled that the 1964 Civil Rights Act also protects individuals from workplace discrimination based on sexual orientation and gender identity.
Read on for more details.
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TFG Property Reports acquires secure messaging platform
Posted Date: Monday, June 15, 2020
A Florida company dedicated to providing property reports to title companies, underwriters, law firms, and investors has acquired a secure messaging platform that protects mobile devices from fraudulent attacks.
TFG Property Reports said it planned to integrate the acquired company’s software’s security features into its remote online notarization platform, which will be introduced later this year.
Read on for more details.
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Fairway Independent Mortgage launches eClose solution
Posted Date: Monday, June 15, 2020
Wisconsin-headquartered Fairway Independent Mortgage Corp. has launched an eClose solution designed to provide borrowers with a variety of closing options, the company announced.
The mortgage company said its new solution provides options that include a hybrid process that allows for a combination of electronic and wet-sign documents as well as a full eClose option.
Read on for more details.
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Home purchase sentiment improves slightly
Posted Date: Monday, June 15, 2020
During May, the percentage of Americans who said it is a good time to buy a home increased, while the percentage who said it is a bad time to buy decreased.
Read on for more details.
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Small-business owners believe recession will be short-lived
Posted Date: Thursday, June 11, 2020
Small-business owners surveyed by the National Federation of Independent Business (NFIB) in May were optimistic about future business conditions and said they expect the recession to be short-lived.
NFIB Chief Economist Bill Dunkelberg said country’s economic landscape was rocked by COVID-19, but small-business owners are taking all the necessary precautions to reopen.
Read on to learn more details from NFIB’s latest survey.
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American Home Title and Escrow parent reaches virtual milestone
Posted Date: Thursday, June 11, 2020
The parent company of American Home Title and Escrow Co. is using technology to transform the homebuying process during the coronavirus pandemic.
M.D.C. Holdings, Inc. said its Richmond American Homes companies have completed more than 1,000 virtual sales appointments through mid-May.
Read on to learn just what is offered during a virtual walk through of a home.
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More bidding wars for homes
Posted Date: Thursday, June 11, 2020
More than 40 percent of Redfin purchase offers faced competitive bids in the four weeks ending May 10.
Read on for more details.
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Peak Title’s parent company completes merger
Posted Date: Tuesday, June 9, 2020
The parent company of Peak Title has completed its merger with the Edon State Bank Co. of Ohio, the company announced.
Defiance, Ohio-based SB Financial Group, Inc. said the merger agreement was unanimously approved by the boards of both bank holding companies and their subsidiary banks. SB Financial now has approximately $1.1 billion in assets.
Read on for more details.
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Wanted: Homes with dedicated work spaces
Posted Date: Tuesday, June 9, 2020
Two-thirds of Americans surveyed by Zillow say they are working from home in a room that’s not a dedicated office.
Read on for more details.
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First-quarter refinances nearly double
Posted Date: Monday, June 8, 2020
There were 1.07 million refinance mortgages secured by residential property originated in the first quarter of 2020.
Read on for more details.
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