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Wells Fargo hit with $1 billion penalty
Posted Date: Friday, April 20, 2018
Wells Fargo Bank has agreed to a $1 billion penalty issued by the federal government for how it charged certain borrowers for mortgage interest rate-lock extensions and the way it administered a mandatory insurance program related to its auto loans.
The penalty is the largest ever assessed by the Consumer Financial Protection Bureau.
Read on for more details.
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Politicians react to Wells Fargo enforcement action
Posted Date: Tuesday, April 24, 2018
In announcing its $1 billion enforcement action about Wells Fargo Bank, the Consumer Financial Protection Bureau did not say much about the financial abuses against consumers committed by the bank.
But while the bureau seemed loathe to trumpet its largest enforcement action ever, others in and around Washington had plenty to say.
Read on for more details.
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WFG acquires Washington title agency
Posted Date: Thursday, April 19, 2018
WFG National Title Insurance Co. has acquired a Spokane, Wash.-based title and settlement services provider that serves two counties and has 65 employees.
WFG said the name of the acquired company will be changed to WFG National Title Co. of Eastern Washington and that the company’s former owner/county manager will become an executive vice president and manage the operation.
Read on for more details.
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ALTA endorses bill to restructure CFPB
Posted Date: Thursday, April 19, 2018
The American Land Title Association has joined more than 20 other groups in endorsing a bill that would change the leadership structure of the Consumer Financial Protection Bureau from a single director to a commission.
In a letter to Congress, the groups said a bipartisan commission would provide a balanced and deliberative approach to supervision, regulation, and enforcement by encouraging input from all stakeholders.
Read on for more details.
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LenderClose gains funding from venture capital firm
Posted Date: Thursday, April 19, 2018
LenderClose has gained funding from a venture capital firm that will allow it to hire 25 more employees. T
he principal of the venture capital fund said its investment “is gas in the tank that will allow LenderClose to do much more.”
Read on to learn about the two executives LenderClose recently added to its team.
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Report: Housing affordability worsens
Posted Date: Thursday, April 19, 2018
A new report predicts home affordability will decline the fastest in Tacoma, Wash., Fresno, Calif., Baltimore and Boston.
Read on for more details.
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Ellie Mae adds senior vice president
Posted Date: Thursday, April 19, 2018
Ellie Mae has hired a senior vice president of product strategy and management.
Read on for more details.
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NS3 Preview: Underwriters, lenders, regulators take the stage
Posted Date: Tuesday, April 17, 2018
The National Settlement Services Summit (NS3) comes home to the Midwest for the 14th year of the annual conference that brings all parties of the real estate transaction together in one place. The conference is slated for June 6-8 in Detroit at the Detroit Marriott at the Renaissance Center.
One thing that remains the same, though, is the ability for attendees to learn from top executives and companies representing the industry, with panels scheduled featuring leading underwriters, lenders and regulators.
Read on for more about the top-quality speakers set to pass along their insights in June.
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Four companies partner on eClosings
Posted Date: Tuesday, April 17, 2018
Pavaso has partnered with Intercap Lending, Elevated Title and Signature Closers to conduct eClosings in which the lender, title company and notary collaborate within Pavaso’s portal.
In March, In March, Intercap used Pavaso’s portal to electronically close its first loan with Elevated Title and Signature Closers.
Read on to see what executives from each of the companies are saying about the collaboration.
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Swiftpage enhances CRM line
Posted Date: Tuesday, April 17, 2018
Swiftpage has added to its customer relationship management (CRM) software and released the latest version of its Premium Platform.
The company’s newest product offers insurance providers the ability to tailor their CRM to meet the unique needs of their business, market, and industry.
Read on for more details.
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ATGF adds agency manager
Posted Date: Tuesday, April 17, 2018
Attorneys Title Guaranty Fund, Inc. has hired an agency manager for its Colorado and Utah operations.
Read on for more details.
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Property taxes up nearly $3,400 per home
Posted Date: Tuesday, April 17, 2018
ATTOM Data Solutions said New Jersey, Illinois, Vermont, Texas and New Hampshire had the highest property taxes in 2017.
Read on for more details.
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ePN adds recording jurisdictions
Posted Date: Tuesday, April 17, 2018
ePN added 25 jurisdictions to its eRecording network during January, February and March.
Read on for more details.
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LenderLive acquires reQuire
Posted Date: Monday, April 16, 2018
In recent years, the group of technology companies called reQuire Holdings, LLC had been on its own purchasing spree.
Now, the company has been acquired by LenderLive Services, LLC. LenderLive said reQuire’s services complement its document and settlement services offerings and will enable the combined companies to provide additional market-leading compliant solutions to clients.
Read on for more details.
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Lennar names C-Suite team
Posted Date: Friday, April 13, 2018
The Lennar Corp.’s board has announced a series of changes to its C-Suite executive team, including the naming of a new chairman and CEO.
Lennar said the management changes recognize the hard work, effective leadership, collaboration and significant contribution of the named executives.
Read on to learn which familiar names have obtained new titles at Lennar.
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CATIC appoints new board member
Posted Date: Friday, April 13, 2018
The newest member of CATIC’s Board of Directors is a prominent attorney who has expertise in short sales, foreclosed properties, bankruptcies and probate matters related to real estate transactions.
The board’s newest member has been an expert witness in numerous court matters regarding title disputes and standards of professional responsibility for real estate practitioners.
Read on for more details.
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FTC offers cybersecurity resources for small businesses
Posted Date: Friday, April 13, 2018
The Federal Trade Commission (FTC) is offering new educational resources to help small businesses strengthen their cybersecurity and protect sensitive data.
The FTC said the new educational resources are a result of the roundtables it hosted in 2017, where small-business owners identified several issues, including avoiding phishing schemes, ransomware attacks and tech support scams.
Read on for more details.
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Westcor adds agency representative
Posted Date: Friday, April 13, 2018
Westcor Land Title Insurance Co. has hired an industry veteran as an agency representative.
Read on for more details.
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Tappable equity highest on record
Posted Date: Friday, April 13, 2018
Rising home prices have driven total tappable equity to its highest dollar amount on record.
Read on for more information from Black Knight’s latest report.
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Closepin partners with Angel Oak Home Loans
Posted Date: Friday, April 13, 2018
Closepin has launched an automated closing agent compliance process for Angel Oak Home Loans LLC and their Lending Services platform.
Read on for more details.
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FAN completes fully digital refinance
Posted Date: Thursday, April 12, 2018
Along with United Wholesale Mortgage and Florida Mortgage Firm, the Florida Agency Network (FAN) recently completed its first paperless, fully digital real estate refinance transaction.
Earlier this year, FAN completed its first fully digital purchase transaction using an online notary. FAN’s CEO called the fully digital refinance a key breakthrough for its customers.
Read on for more details.
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Premium Title expands coverage area
Posted Date: Thursday, April 12, 2018
Premium Title has secured escrow licensing in Idaho, New Mexico, Oregon and Washington.
The company now provides direct title/settlement services in 45 states plus the District of Columbia. President Jim Weld said the additional states will help the company provide greater access, on a national scale, to services customers need to expedite the closing process.
Read on for more details.
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Lennar subsidiary launches digital mortgage platform
Posted Date: Thursday, April 12, 2018
A subsidiary of the Lennar Corp. has introduced a digital mortgage platform designed to streamline the home loan process.
The company said the new platform incorporates sophisticated, data-driven technology to simplify a traditionally tedious, manual process, resulting in a faster, more frictionless mortgage experience.
Read on for more details about the new platform.
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AmTrust hires agency representative
Posted Date: Thursday, April 12, 2018
AmTrust Title Insurance Co. has hired an agency representative for its Texas operation.
Read on for more details.
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Freddie Mac adds director
Posted Date: Thursday, April 12, 2018
Freddie Mac has added a new member to the company’s board of directors.
Read on for more details.
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New title and escrow platform company launched
Posted Date: Tuesday, April 10, 2018
Two investment firms and a title industry veteran have joined forces to launch an independent title and escrow platform company.
The company said its strategy is to create the leading technology centric and customer-obsessed title platform serving all facets of the mortgage loan cycle—from residential purchase, refinancing, home equity, default and curative services, and commercial services.
Read on for more details.
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Small-business owners posting ‘help wanted’ signs
Posted Date: Tuesday, April 10, 2018
One-fifth of small-business owners surveyed by the National Federation of Independent Business during March said they had plans to hire more workers.
Many of the small-business owners surveyed reported a willingness to raise pay levels to attract the right workers.
Read on to learn in which sectors were hiring during March.
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RamQuest integrates CloseSimple
Posted Date: Tuesday, April 10, 2018
RamQuest, Inc. has integrated CloseSimple’s automated communication tool within its digital network.
Read on for more details.
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The Top 5 fastest appreciating markets
Posted Date: Tuesday, April 10, 2018
Four of the top five fastest appreciating real estate markets during the next 12 months are projected to be in Washington.
Read on for more details from Veros Real Estate Solutions’ predictions.
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Agent on TRID bill: ‘We have the ability to affect change’
Posted Date: Friday, April 6, 2018
Title insurance professionals who have been hoping for changes to the disclosure of simultaneously issued title insurance were disappointed when the TRID Improvement Act of 2018 was not included in the final Senate financial regulatory reform bill sponsored by Sen. Mike Crapo (R-Idaho), which was passed last month.
However, the fight to get the TRID Improvement Act to the president’s desk is not yet over, and the title industry can provide great influence over the next steps in the process.
Read on for one agent’s story of helping the process, and what you can do to support the inclusion of the TRID Improvement Act in final legislation.
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Qualia striving to become industry’s transaction platform
Posted Date: Friday, March 30, 2018
Earlier this year, Qualia closed a $33M Series B led by Menlo Ventures with participation from 8VC, Bienville Capital and Barry Sternlicht.
Qualia CEO Nate Baker spoke with The Title Report about the company’s plans to use its cash infusion to expand its engineering and product teams and accelerate its growth into additional markets.
Read on for more details.
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