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Townstone responds to CFPB lawsuit
Posted Date: Thursday, July 16, 2020
A day after the Consumer Financial Protection Bureau sued Townstone Financial for violations of the Equal Credit Opportunity Act (ECOA) and redlining, counsel for the company released a statement challenging the allegations.
Co-counsel James Bopp Jr. of The Bopp Law Firm said the bureau was using the case to drive advertising away from conservative talk radio.
Read on for details of the company’s response.
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CLTA appoints vice president
Posted Date: Thursday, July 30, 2020
The California Land Title Association (CLTA) has appointed Mike Marconi 2nd Vice President.
Read on for more details.
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NS3 Preview: Industry leaders to discuss innovation
Posted Date: Tuesday, July 28, 2020
The 16th annual National Settlement Services Summit (NS3), slated for Sept. 1-3, will feature a track dealing with innovation throughout the title and mortgage industry, one of three tracks featured at the show.
Among other things, the sessions will examine artificial intelligence’s role in the title agency, how digital lenders are changing the real estate transaction, and how to create an innovative culture at your company.
Read on to learn more.
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DocMagic, Simplifile integrate
Posted Date: Friday, July 24, 2020
DocMagic has partnered with Simplifile to deliver new process efficiencies that further digitize the closing process.
Read on to learn more.
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Old Republic supplements board
Posted Date: Wednesday, July 22, 2020
Old Republic International Corp. has added a global management consultant to its board of directors who was a former appointee of President Barack Obama, the company announced.
Old Republic’s newest board member has served in executive positions with Korn Ferry, GE Capital Corp., Wachovia Corp. and J.P. Morgan & Co.
Read on learn what Chairman Al Zucaro said about the company’s newest board member.
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New York files cybersecurity charges against First American
Posted Date: Wednesday, July 22, 2020
In the first cybersecurity enforcement action filed by the department since it adopted its cybersecurity regulation in 2017, the New York State Department of Financial Services announced cybersecurity charges against First American for exposing millions of documents with consumers’ personal information.
The state alleges First American’s data incident from 2019 exposed hundreds of millions of documents, millions of which contained consumers’ sensitive personal information including bank account numbers, mortgage and tax records, Social Security Numbers, wire transaction receipts, and drivers’ license images.
Read on for more details.
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Landmark Title rolls in Vegas
Posted Date: Wednesday, July 22, 2020
Shaddock National Holdings’ subsidiary Landmark Title has expanded into Nevada with the opening of an office in Las Vegas, the company announced.
The company also announced it has hired a Nevada native with nearly three decades of title industry experience to grow the company’s presence in Nevada.
Read on to learn who will serve as president of Landmark Title’s Nevada operations.
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SoftPro, Safe Escrow integrate
Posted Date: Wednesday, July 22, 2020
SoftPro has integrated Safe Escrow’s underwriter-approved, collaborative disbursement system into its platform.
Read on for more details.
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Home price appreciation slows
Posted Date: Wednesday, July 22, 2020
May was second consecutive month in which the annual growth rate slowed from the month prior.
Read on to learn more.
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Quicken, Amrock complete RON in North Carolina
Posted Date: Monday, July 20, 2020
Quicken Loans and Amrock recently completed what they are calling North Carolina’s first remote online notarization (RON) mortgage closing.
Amrock partnered with Brady & Kosofsky, P.A., which served as the signing agent. The eClosing was completed for a Quicken Loans team member living in Asheville.
Read on to learn what all involved had to say about the closing.
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Orchard Title parent now providing mortgages
Posted Date: Monday, July 20, 2020
The homebuying marketplace which provides title services through Orchard Title now is providing home loans.
Orchard, which allows consumers to buy their new home before they sell their old home, has launched Orchard Home Loans. Orchard said the response to its loan program during the initial pilot in Texas was overwhelmingly positive.
Read on for more details.
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FAN appoints chief administrative officer
Posted Date: Monday, July 20, 2020
Florida Agency Network (FAN) has appointed a chief administrative officer (CAO) who started in the industry 25 years ago as a receptionist at an independent title agency.
FAN’s CAO will oversee all title personnel and production, as well as the ancillary services divisions.
Read on to learn what FAN CEO Aaron Davis had to say about the industry veteran selected for the job.
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Boston National Title chooses Black Knight
Posted Date: Monday, July 20, 2020
Boston National Title will use Black Knight’s web-based electronic signature and document-fulfillment capabilities to enhance its digital title and settlement experience.
Read on to learn more.
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PropLogix names CMO
Posted Date: Monday, July 20, 2020
PropLogix recently names its first chief marketing officer.
Read on for more details.
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Two title agencies implement Bank Shot
Posted Date: Friday, July 17, 2020
Two title agencies have announced regional partnerships with Bank Shot to utilize the latter’s technology to complete real estate transactions via smart phones, including earnest money deposits and real estate commissions.
Earlier this year, Bank Shot received a patent for a digitized mobile application that uses a cyber-secure process which confirms Check 21 standards, is encrypted, has two-factor authentication and rests on Amazon’s cloud.
Read on to learn more.
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PropLogix launches RON platform
Posted Date: Friday, July 17, 2020
PropLogix has launched a remote online notarization platform that allows closing and loan signing professionals to execute signings remotely and safely, the company announced.
The platform features video conferencing, knowledge-based authentication, tamper-evident document sealing, and long-term storage, and can be used to facilitate fully digital or hybrid real estate closings.
Read on to learn more about PropLogix’s RON platform.
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MISMO certifies two RON solutions
Posted Date: Friday, July 17, 2020
MISMO announced that eNotaryLog and Notarize are the first two companies to complete its remote online notarization certification program.
Read on to learn more.
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Tryon Title hires vice president
Posted Date: Friday, July 17, 2020
North Carolina-based Tryon Title has hired a vice president of national commercial services.
Read on for more details.
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A year later, CFPB cites Townstone for ECOA violations
Posted Date: Wednesday, July 15, 2020
It took nearly a year, but the industry-changing lawsuit The Title Report first reported has been filed, as the Consumer Financial Protection Bureau (CFPB) officially sued Townstone Financial for violations of the Equal Credit Opportunity Act (ECOA).
The bureau filed the case in district court in Illinois. Townstone Financial, a three-person mortgage company in Chicago, is being charged with making statements during marketing ventures, including weekly radio shows and podcasts, that illegally discouraged prospective African-American applicants from applying to Townstone for mortgage loans.
Read on for details from this breaking news story.
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Passport Title adds private label capabilities
Posted Date: Wednesday, July 15, 2020
Maryland-based Passport Title Services, LLC recently added private label capabilities to its turnkey title company platform that will enable attorneys, title agents and title agency owners to perform closings under their own brand name or Passport Title’s name.
The company said its private label capabilities include branded market-facing technologies, branded settlement processing services and branded operating infrastructure.
Read on to learn more.
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Global Closing adds four Florida offices
Posted Date: Wednesday, July 15, 2020
Florida-based Global Closing Co. has added four offices in Brevard County, the company announced.
Co-founder and Managing Owner Jonathan Yasko said Brevard County is a logical fit for Global’s expansion because of the growing Space Coast market, SpaceX expansion and NASA re-development. The main Brevard County location will be in Rockledge, Fla.
Read on for more details about the company’s latest expansion.
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Small-business owners more optimistic
Posted Date: Wednesday, July 15, 2020
The NFIB’s Small Business Optimism Index increased 6.2 percent in June to 100.6, with eight of the 10 components improving and two declining, the advocacy group announced.
NFIB said small-business owners it surveyed continue to be optimistic about future business conditions and expect the recession to be short-lived.
Read on for more details.
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PropLogix, E-Closing integrate
Posted Date: Wednesday, July 15, 2020
PropLogix’s municipal lien searches have been integrated into the E-Closing and E-Closing DT title production platforms.
Read on for more details.
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DocuSign acquires Liveoak Technologies
Posted Date: Monday, July 13, 2020
DocuSign has acquired Austin, Texas-based startup Liveoak Technologies for $38 million in an all-stock transaction, the company announced.
DocuSign said it plans to leverage Liveoak’s technology to accelerate the launch of its DocuSign Notary, a new product that focuses on remote online notarization. DocuSign’s eSignature already is integrated with Liveoak’s agreement-collaboration platform.
Read on for more details.
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Proper Title names executive vice president
Posted Date: Monday, July 13, 2020
Illinois-based Proper Title, LLC has named an executive vice president of operations and counsel, the company announced.
The company newest executive vice president will be responsible for managing Proper Title’s processing, closing and overall operations. Additionally, Proper Title announced the hiring of a senior escrow officer in its Loop office.
Read on for more details.
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Premium Title adds RON capabilities
Posted Date: Monday, July 13, 2020
Premium Title has added remote online notarization (RON) to its suite of eClose capabilities that already includes hybrid eClose and total eClose, the company announced.
The company said it added RON to its title and settlement services to give customers even more choices and help lenders deliver and sign all required closing documents remotely in states that allow RON.
Read on for more details.
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Gulotta Grabiner adds two attorneys
Posted Date: Monday, July 13, 2020
New York-based Gulotta Grabiner recently added two attorneys to its transactional and mortgage finance practice groups.
Read on for more details.
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AccuTitle acquires Landtech
Posted Date: Thursday, July 9, 2020
AccuTitle has acquired a provider of real estate settlement software and closing applications for the title, escrow, and financial industry, the company announced.
Financial terms of AccuTitle’s acquisition of Florida-based Landtech Data Corp. were not disclosed.
AccuTitle said the acquisition increases its client base to more than 2,000 title organizations and adds key states. Read on to learn more.
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Notarize partners with Title365
Posted Date: Thursday, July 9, 2020
Notarize and Title365 have announced they will partner on hybrid and fully digital residential real estate closings, empowering Title365 to expand its digital mortgage experience for signers in multiple states.
Title365 said it maximize operational efficiencies through the partnership by collecting, organizing, and retaining key mortgage documents through Notarize’s platform.
Read on for more details.
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Small business reduced workers in June
Posted Date: Thursday, July 9, 2020
Small-business owners reduced employment during June, according to the monthly jobs report from the NFIB Research Center.
NFIB Chief Economist Bill Dunkelberg said many state governments are reversing prior decisions and reducing the potential for small business to earn needed revenue, causing anxiety among some owners.
Read on for more details from NFIB’s latest jobs report.
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Plaza Home Mortgage accepting RON
Posted Date: Thursday, July 9, 2020
Plaza Home Mortgage now is accepting remote online notarization for purchase and refinance loans in its wholesale and correspondent channels.
Read on for more details.
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DDI Technology, Indiana Bankers Association partner
Posted Date: Thursday, July 9, 2020
The Indiana Bankers Association has partnered with DDI Technology so its 124 member banks can use the latter’s electronic lien and title services.
Read on for more details.
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