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Qualia raises more cash, acquires Adeptive
Posted Date: Monday, December 21, 2020
Following its announcement it has raised an additional $65 million in Series D financing, Qualia announced the acquisition of ResWare developer Adeptive Software.
Qualia said its latest fundraising increased its total funding to $160 million and values the company at over $1 billion. The latest round was led by existing investor Tiger Global, alongside other existing investors 8VC and Menlo Ventures.
Read on for more details.
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Illinois title agency names chief underwriting counsel
Posted Date: Friday, January 8, 2021
The largest title agency in Illinois recently named a chief underwriting counsel as well as a senior underwriting counsel.
Greater Illinois Title’s newest chief underwriting counsel previously served as a commercial underwriting attorney with Attorneys Title Guaranty Fund and also previously served as a real estate attorney for the Illinois Housing Development Authority.
Read on to learn who was selected for the position.
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iBuying service RedfinNow expands into Phoenix
Posted Date: Friday, January 8, 2021
RedfinNow expands again, this time into Phoenix.
In late 2020 RedfinNow expanded into Seattle and San Francisco. It also has offices in the Inland Empire in California, Los Angeles, Orange County, Palm Springs, Sacramento, San Diego, markets in Texas and markets in Colorado.
RedfinNow Vice President Jason Aleem called the Phoenix market “red hot.” Read on for more details.
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Small-business job growth continued in December
Posted Date: Friday, January 8, 2021
Small businesses saw increases in workers and jobs in December.
Small businesses increased employment by 0.3 workers per firm on average over the past few months. Owners reported a historically high level of job openings in December.
“Small businesses continued to prove that they are the engine of the economy as we closed a chapter on a challenging year,” said one NFIB economist. Read on for more details.
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Mid America Mortgage names COO
Posted Date: Friday, January 8, 2021
Mid America Mortgage, Inc. has promoted its national support and training director to chief operating officer. Read on for more details.
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Homeownership platform secures $108 million in funding
Posted Date: Wednesday, January 6, 2021
SimpleNexus has secured $108 million in Series B funding. The company plays a role in 13 percent of all U.S. home loans.
The funding is a follow-in investment from Insight Partners, which invested $20 million in the company in 2018.
"SimpleNexus’ innovative solutions continue to change the mortgage industry in exciting ways," said one Insight executive. Read on for more details.
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Capital Title announces more expansion across Texas
Posted Date: Wednesday, January 6, 2021
Capital Title grows again with acquisition of GPS Title.
Capital is the largest independent title company in the United States. It has over 90 branches in cities around Texas. GPS Title is doing business as Porter Title.
“We are happy to have been a part of the team that was able to continue the 83-year-old legacy of Porter Title and could not feel more confident that it will continue with success into the future under the leadership of Capital Title,” said one executive. Read on for more details.
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Foundation Title expands into new state
Posted Date: Wednesday, January 6, 2021
Foundation Title and Escrow Series, LLC expands into Alabama.
Foundation Title, headquartered in Franklin, Tenn., has merged with Paulus Title, LLC. Paulus was founded in 2007.
“Paulus Title and Foundation Title and Escrow have so many shared values, especially the focus on constant improvement and customer service,” said Foundation Title’s CEO. Read on for more details.
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SYNRGO releases PostClosing+
Posted Date: Wednesday, January 6, 2021
SYNRGO said it has incorporated advanced automation into its PostClosing+ software. Read on for more details.
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Knight Barry Title acquires six Minneapolis offices
Posted Date: Monday, January 4, 2021
Knight Barry expands with the addition of six offices around the Twin Cities.
Knight Barry bought Title One Inc. and its six offices to become one of Minnesota’s largest title agencies. Knight Barry is based in neighboring Wisconsin.
Title One was founded in 1992 and is headquartered in Bloomington. Knight Barry said it plans to keep all Title One staff members. Read on for more details.
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Britehorn Partners announces expansion
Posted Date: Monday, January 4, 2021
Britehorn Partners is expanding.
Britehorn, a middle-market investment bank with offices in Colorado and Florida, is expanding its title merger and acquisition practice.
"A new buyer universe has awakened to the opportunity in title, and we are making significant investments to enhance our ability to execute for our clients," said one Britehorn executive. Read on for more details.
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Proliant Settlement Systems announces expansion
Posted Date: Monday, January 4, 2021
Proliant Settlement Systems, LLC has announced more expansion across Michigan.
The company found a new franchisee, Signature Title. It is the company’s 11th in the state.
“The back office support, their team, they’re there for any questions we have without a doubt. Proliant took the headache out of trying to do it all on our own,” said one Signature Title partner. Read on for more details.
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New NFIB poll shows small-business owners in dire straits
Posted Date: Wednesday, December 30, 2020
One out of every four small-business owners reported they will have to close their doors in the next six months if things don’t improve.
The National Federation of Independent Businesses Research Center released its 14th survey since March on the impact COVID-19 is having on small businesses.
The study also focused on Paycheck Protection Program loans. Read on for more details.
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NES Financial JTC to provide 1031 services to Sanchez and Rivera Title
Posted Date: Wednesday, December 30, 2020
NES Financial JTC announced it has contracted to provide 1031 Exchange Accommodator Services to Sanchez and Rivera Title, LLC.
1031 exchanges enable investors to reduce or eliminate taxes on the sale of business or investment real estate.
“As the first Hispanic title company in the U.S., it was also really important for us to work with NES Financial JTC as we continue to help our investors venturing into real estate ownership and investments for the first time,” said Sanchez and Rivera Title’s CEO. Read on for more details.
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Samson Properties, zavvie offering more iBuying options to D.C. area
Posted Date: Wednesday, December 30, 2020
zavvie and Samson Properties have partnered to bring iBuyer and bridge access to more D.C.-area homebuyers.
The two companies are working together to bring more options to Virginia, Maryland and Washington, D.C.
Samson Properties is headquartered in Chantilly, Va., and the company employs over 3,700 people across 30 offices. Read on for more details.
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Median mortgage payment hits new low
Posted Date: Wednesday, December 30, 2020
The median mortgage payment in the United States hit a yearly low in November. Read on for more details.
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ANTIC names CFO
Posted Date: Wednesday, December 23, 2020
Agents National Title Insurance Co. recently (ANTIC) promoted its controller to CFO.
“Elizabeth [Blake] earned the confidence of our leadership and accounting teams through her hard work and collaborative approach. As a result, she was our first choice for the CFO role when it became available,” an ANTIC executive said.
ANTIC also recently introduced REalSearch, a property underwriting decision engine. Read on for more details.
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AmTrust's 'A Prime' rating affirmed
Posted Date: Wednesday, December 23, 2020
Demotech recently affirmed AmTrust Title’s ‘A Prime’ financial stability rating.
AmTrust first earned the A Prime rating in 2017, and it has held it since.
“An A Prime rating is a signal to the marketplace that they can have the utmost confidence in AmTrust’s underlying financial strength and stability. We are extremely pleased to have this mark of excellence affirmed,” an AmTrust executive said. Read on for more details.
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Homebuyers frustrated with process, mostly time-to-close
Posted Date: Thursday, December 17, 2020
A recent survey found homebuyers are becoming increasingly frustrated with time-to-close.
“The ideal closing solution considers the entire closing process, end-to-end, and allows for each unique case to be fully optimized in terms of speed, efficiency, security, and finally, scale–all behind the scenes,” said Spruce CEO Patrick Burns.
Read on for more details from the survey.
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First American expands Secure Portal into Texas
Posted Date: Thursday, December 17, 2020
First American launched Secure Portal in 2018 as a way for buyers and sellers to complete paperwork online simply and safely.
The company launched a pilot this summer, and after seeing success has gone through with the expansion. The company called Secure Portal a simple, mobile and secure solution for sharing transactional information with the participants in a real estate transaction.
Read on for more details.
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AccuTitle launches new cloud-based product
Posted Date: Thursday, December 17, 2020
AccuTitle has launched a new cloud-based product: Landtech Lime.
The company said Landtech Lime can offer all of what the original Landtech has offered for “over four decades.”
“We built this offering at the request of our loyal customer base, and we believe we have created an intuitive user experience that will exceed their expectations,” said one AccuTitle executive. Read on for more details.
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Wolters Kluwer acquires eOriginal
Posted Date: Wednesday, December 16, 2020
Wolters Kluwer has agreed to acquire cloud-based digital lending software eOriginal.
A Wolters Kluwer executive said the acquisition positions us as the leading provider of digital lending solutions
eOriginal was founded in Baltimore, Md. in 1996. Read on for more details.
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Stewart, Quisitive begin “strategic relationship”
Posted Date: Wednesday, December 16, 2020
Quisitive Technology Solutions has begun working with Stewart Title.
The two companies have formed what they are calling a “strategic relationship” to streamline application development.
“Our integration will equip Stewart Title with the necessary tools to more seamlessly grow its top line and expand its consumer base,” one Quisitive executive said. Read on for more details.
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AmTrust, Adeptive integrate
Posted Date: Wednesday, December 16, 2020
AmTrust Title Insurance Co.’s underwriting software, AmTrust Search and Production, has been integrated with ResWare to increase efficiency and accuracy.
“We want to make sure our customers are utilizing ResWare to its fullest and being as productive as possible,” said one Adeptive executive.
This comes on the heels for Adeptive Software integrating with CertSimple. Read on for details.
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