News By Edition

In exclusive interviews with The Title Report, Fidelity National Financial’s Linda Grahovec and Kentucky-based Millennial Title’s Chip Ridge weigh in on the ongoing “cooperative compensation” lawsuits against the National Association of Realtors and real estate brokerages, as well as potential industry impact.

Answers point to the true extent of cases’ impact being difficult to narrow down in the near-term and the importance of preparation in the meantime. 

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Homebuilder and title insurance provider D.R. Horton, Inc. reported earnings for its first quarter of fiscal 2024, which ended Dec. 31.

Homebuilding revenue increased 8 percent to $7.3 billion compared with $6.7 billion in the same quarter of fiscal 2023. Homes closed in the quarter increased 12 percent.

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A fourth-quarter fraud analytics report from FundingShield shows wire and title fraud at record levels, with more than half of recorded loans having at least one risk issue.

This increase highlights ongoing cybersecurity challenges such as business email compromise events and phishing attacks, according to the company.

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Vanguard Title Co. has added a new account executive to its expanding team who brings nearly 40 years of experience to the position.

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Snapdocs eClosing platform is integrating with LenderLogix’s LiteSpeed point-of-sale system to enhance lender efficiency and streamline the borrower experience.

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Redfin agents in areas affected by inclement weather report slow homebuying activity, but agents in warmer locales say buyers and sellers are active as mortgage rates stay in the high-6 percent range, down from 8 percent a few months ago.

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Old Republic International Corp. has reported operating results from the fourth quarter and full year 2023, showing a drop in title segment pretax operating income.

Title insurance pretax operating income was down 2.5 percent from the third to fourth quarter, but it declined 57 percent for the full year.

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One Real Title, a subsidiary of The Real Brokerage, Inc., is expanding its digital closing services into two more Midwest states, leaders recently announced.

In addition to newly added states, One Real Title is available in Arizona, Florida, Georgia, Minnesota, Nevada, North Dakota, Tennessee, Texas and Utah, and provides escrow services in California.

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Illinois-based real estate firm Baird & Warner reported positive results, including improved title client win rates, through the use of a new customer relationship management (CRM) system.

Leaders said the new platform has led to improved individual agent production, more handoffs from its eBusiness team to outside sales agents and higher overall efficiency.

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Alanna.ai has added a new executive sales director to its team who comes to the position with more than two decades of experience in the title insurance and real estate industry.

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Title technology firm RamQuest is integrating with GridBase, which provides agent and lender services including order management and instant title decision.

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Profits on U.S. home sales in 2023 decreased for the first time since 2011, even with typical seller gains remaining strong, according to ATTOM.

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Old Republic Title Co. announced its acquisition of a California-based title agency that operates four offices in the northern region of the state.

The acquired company traces its roots back more than 100 years and expands Old Republic’s nationwide network to nearly 300 branch and subsidiary office locations.

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AmTrust Title has secured its spot as lead title insurer on what’s slated to be the largest clean energy infrastructure project in U.S. history.

The roughly $11 billion project will ultimately produce 3,500 megawatts of new renewable generation supplying three million customers with clean power annually and is expected to be completed in 2026.

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Enterprise listing software provider Ocusell has partnered with real estate tech firm REAI to put forth a compliant AI-driven listing process solution.

The technology is designed to allow real estate professionals to publish listings to multiple MLSs (multiple listing services) as well as major social media platforms simultaneously from a single platform.

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Title technology provider Pythonic has appointed a new vice president of sales and customer success who will help lead sales strategies and accelerate growth.

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Optimal Blue PPE has launched an Android version of its home lender product, pricing and eligibility engine and updated its iOS app.

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Empty-nest baby boomers own 28 percent of the nation’s large homes, while millennials with kids own just 14 percent, a drastic change from a decade ago when both demographics held equal ownership, according to Redfin. 

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Advice on finding optimal efficiency and navigating less-than-ideal market conditions was shared with The Title Report by Kay Underwood-Zach, owner of Title Insurance Consultants, LLC; and Pat Carney, CEO of title tech provider Viking Sasquatch.

The pair agree that honest communication with team members, finding “new normals” post-COVID, and being proactive with cybersecurity will be invaluable moving forward.

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Residential real estate brokerage Compass is acquiring a Florida title company that closed more than $400 million in 2023 transaction volume.

The acquisition expands Compass’ growing settlement services portfolio which now serves agents and their clients across California, Colorado, Florida, Pennsylvania, New Jersey, Maryland, Virginia, Texas and Washington, D.C.

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New York- and New Jersey-based Absolute Title Agency and E-Title Direct have appointed a new co-CEO who will also serve as managing partner, the firms recently announced.

The new leader comes to the job with a long-term career experience in mortgage lending, property sales, construction and project management.

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Skyline Lien Search has brought on a new chief marketing officer with more than 20 years of experience, including a stint in health care sector.

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Title technology provider VizionX has added a closing cost calculator to its Xchange platform, providing instant access to current data from numerous title underwriters.

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Twenty-one percent of homeowners are considering selling, up from 15 percent one year ago. Monthly mortgage payments, down $143 from October peaks, are technically affordable again, according to Zillow.

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Lone Star Title of El Paso, Texas, has expanded its footprint with the acquisition of another agency within the state that’s served its local area for more than a century.

Leaders from the acquired company have joined Lone Star Title to help with the transition while working out of multiple El Paso offices.

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Action Title Research of Glen Rock, N.J., is expanding operations into the state of New York and joining a platform that helps title businesses with efficiency and integration, among other services.

Leaders said the expansion will apply to all 62 New York counties, with services including county, tax and municipal searches.

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Most districts are reporting economic stagnation to open 2024 in the latest update to the U.S. Federal Reserve System’s Beige Book.

While districts noted high interest rates as a continued housing sale volume deterrent, numerous contacts also expressed optimism for lower rates and better conditions in the near future.

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Title Resources Group has added a well-known title industry veteran to its executive leadership team, tasking her with leading business development across multiple areas.

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TruStage’s compliance solution offering is collaborating with digital signature provider SIGNiX, the companies recently announced.

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Despite homeownership stagnation, Gen Zers are tracking ahead of where their parents were at the same age, likely because many Gen Z homeowners were able to buy when rates were near record lows, according to new data from Redfin.

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California-based homeowners association (HOA) document, municipal lien search and mortgage payoff solution provider InspectHOA is rebranding as Rexera.

Rexera is best known for its flagship HOA service, which helps title and escrow companies, underwriters, real estate attorneys, mortgage lenders and investors in dealing with HOAs during the closing process.

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Radian Group Inc. and subsidiary Radian Guaranty Inc. have earned upgraded financial strength and credit ratings from S&P Global Ratings, with a stable outlook for both ratings increases.

Evaluators said improved ratings are a product of “implementation of revised capital model criteria and expectation that Radian will maintain sufficient capital redundancy.”

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A former Deutsche Bank executive with 20 years of marketing and communications experience is taking over as chief marketing officer at The Clearing House.

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Real Advantage Title Insurance Co. has received another round of top audit results measuring its SOC 1 and SOC 2 compliance.

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Charlotte, N.C., Providence, R.I., and Indianapolis saw the highest net migration increase among the 50 largest markets in 2023, a product of buyers chasing affordability, according to Zillow.

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