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Fidelity-Stewart deal terminated
Posted Date: Wednesday, September 11, 2019
As it turns out, the Federal Trade Commission put the final nail in the coffin.
The Big Four will not become the Big Three, as Fidelity and Stewart announced Tuesday morning that they would abandon the acquisition deal which first was announced in March 2018. In the wake of the announcement, Stewart said board director Frederick Eppinger would take over as CEO.
Read on for more details about the decision, and its impact on the title insurance industry.
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iBuyer acquires national title company
Posted Date: Friday, September 6, 2019
A real estate broker offering iBuyer services announced that it has purchased a national title and escrow company that has been one of its partners for three years.
The move will allow the company to integrate title, escrow and closing services into its online buying and selling experience, the company said.
Read on for more details about the acquisition and future steps for the company in closing services.
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Old Republic announces senior leadership changes
Posted Date: Thursday, August 22, 2019
As the company nears the October retirement of its chairman and CEO, Old Republic International Corp. has announced several changes to its senior executive ranks.
Chairman and CEO Al Zucaro said the changes bode well for the continuity of long-established governance and operating practices, and for an orderly transition of executive responsibilities.
Read on for more details.
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Texas gets a new underwriter
Posted Date: Friday, September 6, 2019
A Texas-based company nearly 25 years old announced that it received authority this year to begin underwriting title insurance policies in the state.
The president of the company said it has always believed that agents and consumers should have a Texas-based choice when choosing a title insurance underwriter.
Read on for more about the newest player in Texas underwriting.
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Fintech company launches title-search platform
Posted Date: Thursday, August 22, 2019
A Fintech company that provides property data and intelligence to banks, credit unions, and mortgage companies has launched a platform for title search reports.
The company said its SMART Select uses intelligence logic to automatically select the title vendor with the best service, best price, and best turn-time for each financial institution’s unique lending footprint.
Read on for more details.
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Fitch: Lower mortgage rates will extend housing momentum
Posted Date: Thursday, August 29, 2019
A report from Fitch Ratings said lower mortgage rates will stabilize the housing market after the sluggish past nine months and that momentum will continue through 2019.
Fitch said the housing momentum spurred by the low-rate environment will be somewhat tempered by affordability issues, tariffs and rising costs for homebuilders.
Read on for more details from the report.
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Roundtable outlines standard for corporate responsibility
Posted Date: Monday, August 26, 2019
The influential Business Roundtable has released a new Statement of Purpose in which its CEO members commit to lead their companies for the benefit of all stakeholders, including employees and the communities in which they operate.
The new statement is a departure from previous statements issued since 1997 which emphasized that corporations exist principally to serve shareholders.
Read on for more details about the roundtable’s modern standard for corporate responsibility.
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OLTA installs new board
Posted Date: Wednesday, September 11, 2019
The Ohio Land Title Association installed its new president, Chip Brigham, along with its board and handed out two major awards at its 2019 annual convention in Columbus.
Read on for more details.
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FTC challenges FNF-Stewart deal
Posted Date: Friday, September 6, 2019
Twelve days before the final deadline for Fidelity National Financial to close its acquisition of Stewart Information Services, the Federal Trade Commission announced it would look to block the deal.
The deal “threatens to continue a trend of consolidation in these markets,” the FTC said in announcing the move.
Read on for more on the decision, and what it could mean for the viability of the merger.
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Entrust creates partnership with BankUnited
Posted Date: Friday, September 6, 2019
Entrust Reconciliation Services, LLC and BankUnited, N.A. have announced a new partnership designed especially for the title and escrow industries.
The agreement will expand opportunities for title agents, law firms, and settlement companies who use the banking capabilities of BankUnited.
Read on for more details about the agreement between the Florida-based companies.
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NATC names division sales manager
Posted Date: Friday, September 6, 2019
North American Title Co. has named a new assistant vice president/division sales manager for its Sacramento region. She brings nearly 25 years of experience to her position. Read on for more details.
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CoreLogic shows home prices continue rise
Posted Date: Friday, September 6, 2019
CoreLogic released its latest Home Price Index report, showing that home prices continued their annual and month-over-month increases in July. Read on for details of the latest data, including CoreLogic’s forecast for home prices in the next 12 months.
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WEST adds new VP
Posted Date: Friday, September 6, 2019
WEST, a Williston Financial Group company focused on improving the entire residential real estate and mortgage transaction, has appointed a new vice president to lead the marketing and communications strategies for WFG's Enterprise Solutions group. Read on for more details.
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Axis processes 7 million documents using AI tool
Posted Date: Thursday, September 5, 2019
Axis Technical Group recently shared a milestone, processing over 7.5 million complex real estate documents through its advanced AI solution Axis-AI, in under a month.
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Churchill Mortgage partners with Sackcloth & Ashes
Posted Date: Thursday, September 5, 2019
Churchill Mortgage announced its collaboration with Sackcloth & Ashes, a nonprofit organization that aims to donate 1 million blankets to homeless shelters by 2024 through its “Blanket the United States” campaign.
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Investment Title acquires NJ agency
Posted Date: Friday, August 30, 2019
New Jersey-based Investment Title LLC has acquired a title agency in the Garden State that has been in business for more than four decades, the company announced. Terms of the deal were not disclosed.
The president of the acquired agency will become Investment Title’s vice president of sales.
Read on to learn what Investment Title President and CEO Brian Teel said about the deal.
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Redfin to publish agent commissions
Posted Date: Friday, August 30, 2019
In an effort to promote transparency, tech-powered real estate brokerage Redfin has begun publishing the commission offered to the buyer’s agent for homes sold on its platform, the company announced.
Redfin, which also provides title and mortgage services, said displaying the commission buyer’s pay will help consumers better understand the costs in a real estate process.
Read on for more details.
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RamQuest integrates with SafeWire
Posted Date: Friday, August 30, 2019
RamQuest has integrated SafeWire into its closing platform, the companies announced.
Read on for more details.
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Will Fidelity-Stewart deal close?
Posted Date: Thursday, August 29, 2019
An analyst who covers both Fidelity National Financial, Inc. and Stewart Information Services Corp. discussed chance of their merger proposal closing by the Sept. 18 deadline.
A second analyst who also covers both companies added his thoughts on whether the merger of two of the Big Four underwriters will take place.
Read to learn what at least one analyst believes Fidelity will do if the deal can’t be closed.
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Small-business owners fear recession
Posted Date: Thursday, August 29, 2019
Eight out of 10 small-business owners are worried about a possible recession, yet less than half have taken steps to prepare for one, according to a recently released survey.
And although many small-business owners fear a recession, 36 percent of survey respondents said they do not plan to take any special steps to prepare for one within the next two years.
Read on for more details.
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SoftPro, Black Knight integrate
Posted Date: Thursday, August 29, 2019
SoftPro has integrated Black Knight, Inc.’s digital closing solution into its platform, the companies announced.
Read on for more.
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RELS expands offerings
Posted Date: Tuesday, August 27, 2019
RealEstateLawSeries.com will add more than 100 non-credit professional development courses to its website by year’s end, the company announced.
Read on for more details.
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Cottrell Title named Florida company to watch
Posted Date: Tuesday, August 27, 2019
Cottrell Title & Escrow is one of 50 companies throughout Florida recognized as a company to watch by GrowFL and the Edward Lowe Foundation.
Read on for more details.
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Redfin’s title, mortgage services help increase quarterly revenue
Posted Date: Monday, August 26, 2019
Partially driven by increased revenue produced by mortgage and title services, Redfin Corp.’s second-quarter revenue jumped nearly 40 percent, according to the company’s latest earnings statement.
Redfin President, CEO and Director Glenn Kelman said the company expects its mortgage and title services to “contribute meaningful gross profits three to five years from now.”
Read on for more details about Redfin’s second-quarter performance.
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WACO Title opens new office
Posted Date: Monday, August 26, 2019
Arkansas-based WACO Title has opened a new office in Missouri, the company announced.
The company said the new office provides “a larger, more convenient location for our Southwest Missouri customers and further enhances our ever-growing presence in Missouri.” The new location opened Aug. 26.
Read on to learn who will manage the title company’s new location.
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Simplifile adds Rhode Island municipality
Posted Date: Monday, August 26, 2019
Following the July passage of a law authorizing eRecording statewide in Rhode Island, Simplifile added the town of Westerly to its eRecording network.
Read on for more details.
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Old Republic acquires Utah agency
Posted Date: Thursday, August 22, 2019
Old Republic National Title Insurance Co. recently acquired Utah-based Surety Title Agency, the company announced. Terms of the deal were not disclosed.
Surety, which has two offices and 19 employees, will change its name to Old Republic Title.
Read on to learn what Old Republic National Title Holding Co. President Carolyn Monroe said about the acquisition.
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Small-business owners’ optimism grows
Posted Date: Thursday, August 22, 2019
Optimism among small-business owners increased in July as expectations for business conditions, real sales, and expansion made solid gains, according to the National Federation of Independent Business.
More small-business owners surveyed in July said they planned to create new jobs and make capital outlays; more planned to order new inventories; and there were less complaints about credit availability as compared with June.
Read on for more details.
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NATIC adds state agency manager
Posted Date: Thursday, August 22, 2019
North American Title Insurance Co. has added a state agency manager for Ohio and Northeast Kentucky.
Read on for more details.
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Rynoh reaches financial milestone
Posted Date: Thursday, August 22, 2019
Since its inception in 2007, Rynoh’s financial protection software has protected and monitored over ten million real estate and settlement closings worth more than $2.8 trillion.
Read on for more details.
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Stewart’s ‘excellent’ credit rating affirmed
Posted Date: Thursday, August 22, 2019
AM Best has affirmed the financial strength rating and the long-term issuer credit ratings for the member companies of Stewart Title Group.
Among other things, the credit ratings agency noted the group’s favorable levels of risk-adjusted capitalization, and its consistently profitable underwriting and investment results. It also said the outlook for the credit ratings is stable.
Read on for more details.
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Pango Group opens escrow company
Posted Date: Thursday, August 22, 2019
The California-based Pango Group has opened a new escrow company in Long Beach, the company announced.
The new company will provide escrow services for residential purchases, commercial purchases, refinances and new construction. It officially opened Aug. 5.
Read on to learn what Pango Group President Jeff Russell had to say about the new company.
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Industry consultant releases book
Posted Date: Thursday, August 22, 2019
Well-known industry consultant and National Settlement Services Summit (NS3) speaker Cindy McGovern has compiled many of her sales and inspiration tips in a soon-to-be-released book.
Read on for more details.
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