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Title agents assess TRID’s effectiveness
Posted Date: Friday, February 7, 2020
The Consumer Financial Protection Bureau (CFPB) has received dozens of comment letters from title agents and settlement attorneys offering recommendations for modifying, expanding or eliminating its TILA-RESPA Integrated Disclosures (TRID) rule.
Many note that the new forms required by TRID can be confusing to consumers. Others said getting finalized Closing Disclosures from lenders three days prior to closing continues to be a problem.
Read on to learn what title agents believe is good and bad about TRID.
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ClosingLock achieves record numbers
Posted Date: Wednesday, February 19, 2020
ClosingLock protected more than $14.3 billion in real estate wire transfers during 2019.
Read on for more details.
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First American’s quarterly, yearly revenues up
Posted Date: Tuesday, February 18, 2020
Spurred by an increase in refinances, First American Financial Corp.’s fourth-quarter and 2019 title revenues both increased, according to the company’s latest earnings statement.
CEO Dennis Gilmore said favorable market conditions and First American’s operational efficiency helped the company achieve record margins in its title insurance segment.
Read on for more details from First American’s latest earnings report.
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Stewart, CertifID increase wire transfer coverage
Posted Date: Tuesday, February 18, 2020
Stewart Title Co. subsidiary Stewart Insurance has announced a new endorsement for select title professionals offering coverage up to $500,000 for all inbound and outbound wire funds transfers using CertifID.
Stewart Insurance President Tom Carpentier said the company encourages the use of CertifID technology to help mitigate wire fraud risk and provide increased coverage for these situations.
Read on for more details.
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First American, SnapClose expand integration
Posted Date: Tuesday, February 18, 2020
First American Title Insurance Co. has expanded it integration with real estate closing technology company SnapClose, the companies announced.
The expanded integration allows First American Title customers to electronically remit and upload policies. SnapClose’s existing integrations with First American include the ability to issue closing protection letters and policy jackets.
Read on for more details.
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More than a quarter of U.S. properties equity-rich
Posted Date: Tuesday, February 18, 2020
The states with the highest share of equity-rich properties in the fourth quarter were California, Vermont, Hawaii, Washington and New York.
Read on for more details.
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Luxury home prices rebound
Posted Date: Tuesday, February 18, 2020
During the fourth quarter, the biggest price gains in luxury home prices were in West Palm Beach, Fla., Charlotte, N.C., and Tampa, Fla.
Read on for more details.
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Stewart reports ‘break-even’ fourth-quarter results
Posted Date: Thursday, February 13, 2020
Stewart Information Services Corp. reported break-even results for the fourth quarter of 2019 compared with last year’s fourth-quarter net income.
Stewart said its fourth-quarter results were attributable to office closures, asset impairments and the corporate reorganization, primarily related to last year’s termination of its agreement to be acquired by Fidelity.
Read on for more details.
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ALTA releases data privacy principles
Posted Date: Thursday, February 13, 2020
The American Land Title Association’s (ALTA) newly released data privacy principles recommend the development of a single, national standard.
ALTA CEO Diane Tomb said its principles protect consumer private information uniformly and consistently while maintaining an efficient home buying and selling experience. The association said federal standard would help eliminate the disparity and uncertainty.
Read on for more details about the association’s data privacy principles.
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Alliant National hires state agency manager
Posted Date: Thursday, February 13, 2020
Alliant National Title Insurance Co. has hired a state agency manager for Missouri, Kansas and Nebraska.
Read on for more details.
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Black Knight, Quicken extend contract
Posted Date: Thursday, February 13, 2020
Quicken Loans has extended its contract for Black Knight, Inc.’s MSP servicing system and is adding multiple Black Knight solutions.
Read on for more details.
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First American acquires Docutech
Posted Date: Thursday, February 13, 2020
First American Financial Corp. has reached an agreement to acquire eClose and fulfillment-technology provider Docutech for $350 million, the companies announced.
First American CEO Dennis Gilmore said acquisition demonstrates the company’s dedication “to improving the home-buying experience for consumers and driving the digital transformation of the real estate settlement process.”
Read on for more details.
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Fidelity acquires annuity and life insurance company
Posted Date: Monday, February 10, 2020
Less than six months after terminating a proposed deal to acquire fellow Big Four title insurance underwriter Stewart, Fidelity National Financial (FNF) has agreed to acquire a Cayman Islands-based provider of annuities and life insurance for $2.7 billion.
FNF Chairman William Foley said the acquisition allows Fidelity to diversify its earnings and reduce the risk and volatility in its title insurance operations.
Read on for more details.
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CEO updates Stewart’s strategy
Posted Date: Monday, February 10, 2020
Following the completion of a 100-day strategic review, Stewart Information Services Corp. began the process of making the company more competitive and resilient.
CEO Fred Eppinger said Stewart has identified areas where it needs to target investments to improve its competitive position in each of its businesses and also has identified important improvements needed around basic execution.
Read on to learn more of what Eppinger had to day.
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M.D.C. Holdings reports yearly growth
Posted Date: Monday, February 10, 2020
The parent company of American Home Title and Escrow Co. reported a double-digit increase in profits during 2019, according to the company’s latest earnings statement.
The company’s Chairman and CEO Larry Mizel said the company is well positioned to continue its strong momentum due to a 29 percent increase in homes in backlog to start the year.
Read on for more details.
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Refinances by millennials decline
Posted Date: Monday, February 10, 2020
The percentage of refinances among millennials in December dropped for the second straight month.
Read on for more details.
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Cook & James adds two attorneys
Posted Date: Monday, February 10, 2020
Atlanta-based Cook & James has added two attorneys to its firm.
Read on for more details.
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Clear Title appoints two executive vice presidents
Posted Date: Friday, February 7, 2020
Clear Title Agency of Arizona has expanded its leadership team with the addition of two executive vice presidents, the company announced.
CEO Bart Patterson said building an experienced leadership team is key to upholding the company’s reputation of providing award-winning service to customers.
Read on to learn more about the two newest members of Clear Title’s executive team.
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Small-business hiring on the rise
Posted Date: Friday, February 7, 2020
Small-business owners added employees during January, and many are planning to raise pay levels to fill open positions, according to a jobs report from the National Federation of Independent Businesses (NFIB).
NFIB Chief Economist Bill Dunkelberg said the survey numbers indicate small businesses are keeping the strong economic momentum going in the New Year.
Read on for more details from NFIB’s latest jobs report.
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Docutech, Origence integrate
Posted Date: Friday, February 7, 2020
Docutech has integrated Origence’s mortgage lending documents into its ConformX and Solex platforms.
Read on for more details.
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Stewart makes C-Suite appointment
Posted Date: Wednesday, February 5, 2020
Stewart Information Services Corp. has expanded its C-Suite with the selection of a company veteran to oversee the people side of its business, the company announced.
The company’s newest chief human resources officer has held positions in recruiting, staffing and employee development at Deloitte, National Oilwell Varco and BP America and IBM.
Read on for more details.
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SB Financial Group’s title operation grows
Posted Date: Wednesday, February 5, 2020
Ohio-based SB Financial Group, Inc.’s title company topped more than $1 million in revenues and increased its commercial title business by 20 percent during 2019, according to the company’s latest earning statement.
SB Financial Group Chairman, President and CEO Mark Klein said the company’s title operation installed a new operating system which enabled it to work more efficiently and expand its territory from Ohio to Indiana and Michigan.
Read on for more details.
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SingleSource launches new title product
Posted Date: Wednesday, February 5, 2020
Pittsburgh-based SingleSource now is offering a Deed in Lieu title product which provides full, state-driven searches at 20, 40 and 60 years, the company announced.
SingleSource also said it has added team members who specialize in servicing Deed in Lieu transactions. The new product is available nationwide.
Read on for more details about the new product.
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Majority of top neighborhoods in Southeast
Posted Date: Wednesday, February 5, 2020
Half of this year’s top neighborhoods to watch are located in Virginia, Florida, North Carolina and Tennessee.
Read on for more details.
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O’Kelley and Sorohan expands commercial operations
Posted Date: Wednesday, February 5, 2020
Georgia-based O’Kelley and Sorohan, Attorneys at Law, LLC has expanded its commercial real estate department with the addition of a law firm specializing in that area.
Read on for more details.
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