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Fidelity: NYDFS not a ‘friend’ of the industry
Posted Date: Friday, February 15, 2019
The chairman of Fidelity National Financial, Inc. described the former superintendent of the New York Department of Financial Services as an adversary to the title industry.
William Foley, II also expressed confidence that the company’s proposed acquisition of Stewart Information Services Corp. would be approved despite New York’s objection.
Read on to learn more of what Foley had to say.
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First American set commercial revenue record in 2018
Posted Date: Wednesday, February 20, 2019
First American Financial Corp. produced a record pretax margin for its title segment as well as record commercial revenue during 2018, according to the company’s latest earnings statement.
Sharp declines in refinances and purchase orders drove down First American’s fourth-quarter revenue.
Read on to learn what CEO Dennis Gilmore anticipates for this year’s market, and the changes the company has made to adjust to a ‘resetting’ market.
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Stewart’s fourth-quarter pretax income improves
Posted Date: Monday, February 18, 2019
As it continues to wait on state and federal regulators to rule on its proposed sale to Fidelity, Stewart Information Services Corp. reported a drop in both fourth-quarter and yearly profits and revenue, according to the company’s latest earnings report.
CEO Matthew Morris said Stewart maintained direct title revenues and reduced expenses during the fourth quarter amidst a challenging housing market.
Read on for more details from Stewart’s latest earnings report.
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Edina Realty Title to implement Blockchain
Posted Date: Wednesday, February 20, 2019
A Minnesota-based title company which touts itself as the Midwest’s largest will be the first customer to implement software company Vodii’s Blockchain platform, TxM GlobalSign.
The Blockchain will allow Edina’s real estate closing documentation to be digitally signed and notarized to simplify and secure communication between closing agents and all stakeholders of a real estate transaction.
Read on for more details.
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Denver brokerage launches title company
Posted Date: Friday, February 15, 2019
The Denver-based flat fee brokerage Trelora has raised cash to launch a new title and escrow company.
According to a Jan. 28 filing with the Securities and Exchange Commission, Trelora has raised $800,000 to launch Trelora Title & Escrow, which also is based in Denver.
Read on to learn who will oversee Trelora’s title operations.
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NTC adds national account executive
Posted Date: Wednesday, February 20, 2019
Nationwide Title Clearing, Inc. has hired Michael Ann Williamson as a national account executive, the company announced.
Read on for more about the new addition.
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Number of equity rich properties hits new high
Posted Date: Friday, February 15, 2019
The number of U.S. properties where the combined estimated amount of loans secured by the property was 50 percent or less of the property’s estimated market value reached an all-time high during the fourth quarter.
Read on for more details from the latest report from ATTOM Data Solutions.
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Report: Home price appreciation pushing out buyers
Posted Date: Thursday, February 7, 2019
The combination of rising interest rates and home prices near of past historical highs in many markets has raised a red flag for many in the real estate industry.
A recent study by study by the National Association of Home Builders (NAHB) has added numbers to those concerns. The NAHB study estimates a $1,000 increase in the cost of a median-priced, newly built home would price out 127,560 prospective buyers.
Read on to learn which states and metropolitan areas would be most impacted by such an increase.
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Florida title agency gets new owner
Posted Date: Wednesday, February 20, 2019
A Pensacola, Fla.-based title agency has a new owner and recently added new team members, according to the company’s website.
The new owner previously served at the U.S. Small Business Administration in Miami, where he supervised the group that closed all major commercial loans, and managed the largest commercial loans following Hurricane Andrew.
Read on for more details about the changes at the agency.
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SoftPro integrates with NextAce
Posted Date: Wednesday, February 20, 2019
SoftPro has integrated NextAce’s smart automation, title search and reporting within its 360 business exchange platform.
Read on for more details.
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FTC scrutinizing commercial implications of Fidelity-Stewart deal
Posted Date: Monday, February 18, 2019
The chairman of Fidelity National Financial, Inc. said the Federal Trade Commission is examining the commercial competition aspects of its proposed acquisition of Stewart Information Services Corp.
William Foley II said he isn’t sure what has caught the attention of the New York Department of Financial Services, which in January informed Fidelity and Stewart that it objected to the New York portion of the sale.
Read on to learn more of what Foley had to say.
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Corinthian Title hires COO
Posted Date: Monday, February 18, 2019
California-based Corinthian Title Co. has hired a former CEO and chairman of Investors Title Co. to serve as senior vice president and chief operating officer (COO).
Corinthian President Michael Godwin said his new COO has more than three decades of experience and will help the company grow its California marketplace.
Read on to learn who Corinthian selected to serve as COO.
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Luxury homes averaging $1.7 million
Posted Date: Monday, February 18, 2019
During the fourth quarter of 2018, luxury homes nationwide had an average sale price of $1.7million.
Read on for more details from Redfin’s latest report.
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Ellie Mae updates Encompass
Posted Date: Monday, February 18, 2019
Ellie has launched a new version of its Encompass lending platform.
Read on for more details.
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Federal Title & Escrow links with ZOCCAM
Posted Date: Friday, February 15, 2019
Washington, D.C.-based Federal Title & Escrow has linked with ZOCCAM to enable clients to submit cash-to-close funds and earnest money deposits electronically through ZOCCAM’s app, the company announced.
Federal Title President Joe Gentile said the increasing threat of wire fraud necessitated a more secure method of depositing closing funds.
Read on for more details.
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NATIC promotes vice president
Posted Date: Friday, February 15, 2019
North American Title Insurance Co. has named a vice president, director of audit and compliance services.
Read on for more details.
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Title consultant forms new M&A firm
Posted Date: Thursday, February 14, 2019
A California-based consulting firm to the title industry is part of a new investment banking joint venture with LoHi Merchant Bank.
The companies said the new company is the preeminent firm offering merger, acquisition and strategic advisory services to firms looking to buy or sell title businesses.
Read on for more information about the joint venture.
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NATC names regional presidents
Posted Date: Thursday, February 14, 2019
A week after States Title named a president of North American Title Co. (NATC), its newly acquired subsidiary has named presidents of its eastern and western regions.
NATC President Dia Demmon explained why each of the region presidents was selected and the number of branch offices each will oversee.
Read on to learn who NATC selected for these high-level positions.
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Two Berkshire Hathaway HomeServices firms merge
Posted Date: Thursday, February 14, 2019
Boston-based Berkshire Hathaway HomeServices Commonwealth Real Estate has merged with Rhode Island real estate agency Berkshire Hathaway HomeServices Gammons Realty.
The Rhode Island business will continue to operate from its headquarters in East Greenwich, R.I., maintain its current staff, and will be known as Berkshire Hathaway HomeServices Commonwealth Real Estate.
Read on for more details.
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AmTrust names general counsel
Posted Date: Thursday, February 14, 2019
AmTrust Title Insurance Co. has named a general counsel for AmTrust Title and First Nationwide Title.
Read on for more details.
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SafeChain integrates Accuity’s bank data
Posted Date: Thursday, February 14, 2019
SafeChain has integrated data from Accuity into its platform to give users greater confidence that funds are being wired to the correct account.
Read on for more details.
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TRI Pointe launches new escrow closing services
Posted Date: Monday, February 11, 2019
TRI Pointe Group (TPG) has launched new escrow closing services to expand its title insurance services across its homebuilder brands.
One of the largest public homebuilders in the U.S., TPG also named a vice president of title and escrow services to oversee the multi-state operation of closing services for new homebuyers.
Read on to learn who TPG selected to oversee its title operations.
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Investors Title’s quarterly, yearly income drops
Posted Date: Monday, February 11, 2019
Investors Title Co. reported decreases in profits for the fourth quarter and 2018, according to the company’s latest earning statement.
The company attributed its decline in net premiums written to a drop in refinance activity, partially offset by an increase in purchase activity and higher real estate values.
Read on for more details from Investors’ latest earnings report.
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CoreLogic announces title, closing solution
Posted Date: Monday, February 11, 2019
CoreLogic has launched an enhanced title and closing solution for lenders incorporated into the industry standard Collateral Management System (CMS).
A CoreLogic executive said the solution provides title and closing vendors with seamless connectivity to their lender clients’ platforms, and delivers lenders a comprehensive view into closing package workflows.
Read on for more details about the enhanced title and closing solution.
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Defects, fraud and misrepresentation rise
Posted Date: Monday, February 11, 2019
The frequency of defects, fraud and misrepresentation in mortgage loan applications increased during December.
Read on for more information from the latest First American Loan Application Defect Index.
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TitleOne, Westcor part of first Minnesota online closing
Posted Date: Friday, February 8, 2019
The first online closing in Minnesota recently was completed through Notarize’s platform with partners TitleOne, Westcor and Redfin Mortgage, the companies announced.
The closing took place on a day on which wind chills in Minnesota reached 55 degrees below zero and UPS was closed for safety reasons. It involved a California buyer and a Virginia notary.
Read on for more details about the transaction.
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NATC names new president
Posted Date: Friday, February 8, 2019
States Title announced it has named a new president for North American Title Co. (NATC).
States bought NATC and the underwriter North American Title Insurance Corp. in January.
The new president of the title company will oversee the NATC’s title insurance, escrow and closing operations throughout the country, States Title said. Read on for more details about the new appointment.
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Data breaches declined in 2018
Posted Date: Thursday, February 7, 2019
The number of U.S. data breaches in 2018 decreased from last year’s all-time high of 1,632 breaches by 23 percent, according to a report from the Identity Theft Resource Center (ITRC) and CyberScout.
However, the 2018 End-of-Year Data Breach Report also revealed the number of consumer records exposed containing sensitive personally identifiable information more than doubled.
Read on for more details from the report.
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New-home sales dropped in November, December
Posted Date: Thursday, February 7, 2019
Sales of new homes dropped in all U.S. regions during the last two months of 2018.
Read on for more information from Redfin’s latest report.
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LodeStar integrates with Encompass
Posted Date: Thursday, February 7, 2019
LodeStar Software Solutions has integrated real estate tax information from Ellie Mae’s Encompass digital mortgage solution into its platform.
Read on for more details.
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