News By Edition

Cohesive Title, LLC, is now open for business in Virginia Beach, Va. Founder Alex Dunton sat down with The Title Report to walk us through what it takes to establish a new business.

Since opening in February, business has been encouraging enough to open the door to a possible multi-state expansion, Dunton said.

Read on to find out more.

Doma Holdings Inc. reported year-over-year declines in revenue and order volume during its recent fourth quarter and full year 2022 earnings call.

The company showed net losses of $302.2 million for full year 2022 compared with a loss of $113 million in 2021. Doma leadership said cost-cutting measures have kept the company on track for adjusted EBITDA profitability in 2023.

Read on to learn more.

Ubitquity LLC, released the mainnet version of its Non-Fungible Title platform. Designers highlight platform capabilities including the ability to mint title policies, deeds, certificates of authenticity, receipts, maintenance records, and other important paperwork for its current and prospective customers.

Leadership added that the platform remains scalable while improving on existing features.

Read on to learn more.

Real Land Title of Gretna, La., is now licensed in Missouri to offer customers there abstracting and title search services, according to a recent announcement.

The firm said it’s offering title searches and a complete title and closing solution for residential and commercial real estate, as well as energy sector projects, across the state.

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Mobility Market Intelligence appointed a regional director of enterprise sales, tapping a 30-year industry veteran with experience at companies such as SimpleNexus and LoanLogics.

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The new Borrower Intelligence Platform has been launched through the combined efforts of Sales Boomerang and Mortgage Coach. Designers say the platform will drive volume by identifying loan opportunities and engagement strategies tailored to each borrower’s needs.

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Newly released Zillow data points to home prices bottoming out in 2023 before returning to historically normal growth rates in 2024. Home prices are expected to drop by 1.6 percent by the end of 2023, according to housing experts surveyed by Zillow.

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Information Research (IR), a Houston-based Stewart Information Services Corp. subsidiary, acquired AccountChek, a digital asset, income and employment verification platform available through multiple channels.

Company leaders said the combined IR and AccountChek platform will allow customers to streamline their loan underwriting process and qualify borrowers. AccountChek was previously under the FormFree umbrella.

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Realogy Insurance Agency, a subsidiary of Anywhere Integrated Services, has been rebranded as Anywhere Insurance Agency. Anywhere Integrated Services was known as Realogy Title Group before a 2022 rebrand.

Company leaders say new branding will better align services across various businesses under the Anywhere umbrella. Anywhere Insurance offers lines of coverage to regional and national insurance underwriters.

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CoreLogic acquired mortgage tech provider Roostify for a platform integration. Sharing of data will reportedly allow for better client access to information on borrowers and properties at the beginning of the loan process.

Errors and conditions can be identified immediately, resulting in improved customer experience, limited processing and underwriting costs, the companies said.

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Berkshire Hathaway affiliate Intero announced a slew of executive leadership role changes, including president and chief operating officer. Most newly promoted team members will continue with management positions at various California offices.

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Remote online notarization services available through eNotaryLog have been integrated with TitleLoop, a provider of digital connections between title companies, escrow companies, and notary vendors.

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First American’s Potential Home Sales Model increased for three months in a row, according to results from January. Potential existing home sales jumped to 5.32 million, seasonally adjusted, according to First American.

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Eagle Title of Annapolis, Md., expanded its state footprint with the acquisition of American Land Title Corp. (ALTC).

The new branch location — Eagle Title Towson — began operations at the first of the year, expanding Eagle Title’s footprint into the greater Baltimore region. The office will be run by ALTC’s former president.

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Fidelity National Financial, Inc. (FNF) reported fourth quarter 2022 adjusted net earnings of $287 million, or $1.06 per share, in its fourth quarter earnings call. That spelled a year-over-year decline from $668 million, or $2.34 per share.

Title segment adjusted net earnings were $180 million. Fourth quarter earnings were down roughly 68 percent year-over-year from $563 million.

Read on for more from the earnings report.

Radian Group Inc. found a former chief operating officer and investment banking advisor to fill its chief growth officer seat. She comes to the company after working at companies including dLocal, J.P Morgan and Goldman Sachs.

The new appointee will lead activities associated with developing and implementing the company’s long-term strategic growth plans.

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American Eagle Title Group found a new director of sales for Record Data Plus, LLC, its real estate title, brokerage and underwriting company meant to expand services nationally.

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CandorPLUS, a new tech-driven mortgage loan fulfillment service from Candor Technology, aims to help lenders close loans faster and more efficiently.

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According to Redfin, pending home sales improved slightly in January, but an ongoing affordability crisis and lack of homes for sale kept many house hunters on the sidelines.

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Simple Title Closing & Escrow of Massachusetts acquired Atlantic Coast Title Co., which began operating in Maine in the 1980s.

According to Simple Title leadership, Atlantic Coast will continue operating under its own brand with the possibility of future Maine acquisitions being brought under the Atlantic Coast umbrella.

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A new corporate social responsibility report from Anywhere Real Estate shows progress made on fronts including DEI, internal hiring and agent referral programs.

Diverse representation among new hires increased by 1.3 percent year-over-year in 2022, with 36.8 percent of new hires being people of color in the third quarter, according to the report.

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Mortgage marketing tech provider Big Purple Dot brought on an industry veteran and long-time customer as its new chief product officer. She will spearhead the company’s recruiting platform among other initiatives.

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Paradatec Inc. integrated its AI-based document analysis technology with Encompass, an API platform from ICE Mortgage Technology that allows for automation of the entire mortgage process.

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New reporting from Zillow points to increased home sales and price declines beginning to subside. However, the number of homes for sale remains near record lows.

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A recent fourth quarter earnings report from North Carolina-based Investors Title Co. shows net income for the fourth quarter and all of 2022 declining sharply year-over-year.

The company reported full year net income of $23.9 million compared with $67 million in 2021. Leaders attribute that drop to ongoing elevated interest rates and appreciation of home prices.

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More than a quarter of small business owners responding to the National Federation of Independent Business’ January Small Business Optimism Index said inflation remains their largest operating hurdle.

Owners who expect better business conditions over the next six months improved six points from December to a net negative 45 percent.

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Radian Group Inc. found a new member for its board of directors who’s previously served as a technology initiative leader at companies including State Farm, eBay and Staples.

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Blockchain, title and real estate tech company Ubitquity introduced its non-fungible title platform for homeowners, title companies and other businesses. The company expects to release the mainnet version of the platform, called Ethereal, in March.

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New data from Redfin shows roughly 31 percent of home purchases in December were made in cash—down slightly from the eight-year high hit in November—while more than 15 percent of homebuyers taking out a mortgage used an FHA loan, the highest share since May 2020.

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