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Inside First American’s Blockchain
Posted Date: Thursday, December 13, 2018
First American Financial Corp. made big news recently by announcing its launch of a shared Blockchain system designed to increase efficiency, reduce risk and improve the title production process.
The Title Report spoke with Chris Leavell, First American Title Insurance Co.’s chief operating officer, to learn more about the Blockchain.
Read on to learn what Leavell told us.
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NATIC bought by States Title
Posted Date: Friday, December 7, 2018
The eighth largest title company by market share has been sold.
North American Title Insurance Co. and the majority of North American Title Co. (NATC) will be acquired by States Title Inc. The new company will keep the North American Title brand under combined leadership led by States Title founder and CEO Max Simkoff.
There was no immediate announcement of layoffs or consolidation of headquarters or other office operations. Read on for more details.
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Industry enjoys most profitable third quarter since 2009
Posted Date: Wednesday, December 19, 2018
The title industry generated increased premiums and paid less in claims during the third quarter of 2018, according to the American Land Title Association’s (ALTA) latest Market Share Analysis.
ALTA said net income for the quarter jumped 135 percent and was the highest since 2009.
Read on to learn which states have generated the largest title volumes through the first nine months of the year.
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Real estate Blockchain set to launch
Posted Date: Wednesday, December 12, 2018
What is being touted as the first Blockchain-based real estate purchase and rental platform is set to launch in January.
The platform’s creator said it will incorporate a proprietary Blockchain platform built for real estate transactions and services such as title, mortgage, legal and home inspection.
Read on to learn who is behind the effort and the other industries they hope to attract.
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Kraninger confirmed as CFPB director
Posted Date: Thursday, December 6, 2018
With a vote along party lines, the U.S. Senate on Thursday confirmed Office of Management and Budget official Kathy Kraninger as the next director of the Consumer Financial Protection Bureau.
Kraninger becomes the second director of the consumer watchdog agency authorized by the Dodd-Frank Act in 2010 in response to the financial crisis that led to the Great Recession.
Read on for more details.
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Proper Title promotes two vice presidents
Posted Date: Wednesday, December 19, 2018
Palatine, Ill.-based Proper Title, LLC has named two vice presidents of business development and a training and development manager.
Read on for more details.
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Americans more optimistic about housing market
Posted Date: Wednesday, December 19, 2018
Fueled by an increase in the percentage of Americans reporting higher incomes, the Fannie Mae Home Purchase Sentiment Index rose slightly in November.
Read on for more details.
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Beige Book: Economy continuing to expand
Posted Date: Tuesday, December 11, 2018
In its final Beige Book of 2018, contacts from the Federal Reserve’s 12 districts reported regional economies expanding at a modest or moderate pace from mid-October through late November.
The exceptions were Dallas and Philadelphia, where contacts reported slower growth; and in St. Louis and Kansas City where slight growth was reported.
Read on to learn more details from the Fed’s latest Beige Book.
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Property Debt Research makes Inc. 5000 list
Posted Date: Thursday, January 10, 2019
For the third year in a row, Property Debt Research has been named on the annual Inc. 5000 list for 2018.
Read on for more details.
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ResWare integrates CloseSimple
Posted Date: Thursday, December 20, 2018
Adeptive Software has integrated CloseSimple’s company-branded emails into its ResWare platform.
Read on for more details.
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Bitcoin platform forms partnership with escrow agents
Posted Date: Wednesday, December 19, 2018
A protected Bitcoin escrow business and platform that provides secured escrow wallet features for any transaction has formed partnerships with two escrow agents, the company announced.
The deal is said to create a new kind of marketplace where bitcoin transactions can occur directly between buyers and sellers. The company’s platform acts as the escrow intermediary.
Read on for more details about the plan and the title company involved.
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Keller Williams acquires Memphis Realtor
Posted Date: Wednesday, December 19, 2018
Keller Williams (KW) said its acquisition of a Tennessee Realtor will create one of the largest real estate brokerages in the Mid-South, with more than 300 agents.
The founder and president of the acquired company will join KW’s team and oversee operations of KW Memphis.
Read on to learn which Realtor was acquired and why KW believes the added company is a good fit.
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Refinances plummet to lowest-recorded level
Posted Date: Wednesday, December 19, 2018
The dollar volume generated by refinance mortgages originated in the third quarter dipped to the lowest level since data became available in 2000.
Read on for more details.
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Stewart, NotaryCam make Virginia history
Posted Date: Tuesday, December 18, 2018
NotaryCam and Stewart Title recently completed the first remote online closing for a purchase and sale transaction in Virginia.
Stewart facilitated both sides of the eClose between the buyer and seller, marking the first time in Virginia that both parties to one transaction completed their portion of the closing remotely.
Read on for more details.
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Berkshire Hills acquires SI Financial
Posted Date: Tuesday, December 18, 2018
The parent company of Berkshire Bank has agreed to acquire SI Financial Group, Inc. in an all-stock transaction valued at $180 million, the companies announced.
The acquisition agreement stipulates that SI’s President and CEO Rheo Brouillard will be appointed to Berkshire’s Board of Directors when the merger is completed.
Read on for more details about the acquisition.
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Luxury brokerage names first CEO
Posted Date: Tuesday, December 18, 2018
A luxury real estate firm with offices in New York, The Hamptons, Palm Beach, and Miami has named its first CEO.
The company’s president said the new CEO will focus on “big picture” issues such as marketing, technology and the integration of the company’s regional offices.
Read on to learn more about the background of the new CEO.
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Millennials face higher rates, lower loan amounts
Posted Date: Tuesday, December 18, 2018
During the month of October, millennials faced higher interest rates and lower loan amounts.
Read on for more details from the latest Ellie Mae Millennial Tracker.
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Housing bidding wars decreasing
Posted Date: Tuesday, December 18, 2018
The percentage of Redfin offers that face one or more competing bids declined during November.
Read on for more details.
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Freddie: Inadequate supply restricting market
Posted Date: Tuesday, December 18, 2018
According to Freddie Mac, at least 50,000 American households each year can’t buy or rent a home because it hasn’t been built
Read on for more insights from Freddie Mac.
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Old Republic announces executive changes to PMA
Posted Date: Thursday, December 13, 2018
Old Republic International Corp.’s Board of Directors has approved several senior management appointments at its PMA Companies business, the company announced.
Old Republic said the appointments, effective Jan. 1, are in harmony with its normally occurring management of executive succession throughout Old Republic's holding company system.
Read on to learn what Chairman and CEO Al Zucaro said about the appointments.
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Gateway Mortgage Group names chief risk officer
Posted Date: Thursday, December 13, 2018
Gateway Mortgage Group has hired a former managing director with Everett Advisory Partners as its new chief risk officer, the company announced.
The company’s newest executive will provide executive oversight to the Gateway’s credit and risk management teams, and his responsibilities will span all efforts in enterprise risk management, compliance and quantitative analytics.
Read on for more details about the hire.
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Tavant integrates Docutech
Posted Date: Thursday, December 13, 2018
Tavant has integrated Docutech’s document, eSign, eClose, and print fulfillment technology into its digital platform.
Read on for more details.
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Title Junction hires escrow officer
Posted Date: Thursday, December 13, 2018
Florida-based Title Junction has hired a new data processor/escrow officer.
Read on for more details.
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Texas bank launches eMortgages
Posted Date: Wednesday, December 12, 2018
The parent company of Texas Capital Bank announced the launch of its eMortgages program.
The bank said by providing both warehouse financing and purchasing eMortgages as a take-out investor, it will help mortgage lenders better position themselves for the future.
Read on to learn what the bank’s president had to say about the evolution of the mortgage industry.
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LoyaltyExpress appoints CEO
Posted Date: Wednesday, December 12, 2018
LoyaltyExpress, a provider of cloud-based marketing automation, customer relationship management, and point of sale solutions for banks and mortgage companies, has appointed a CEO.
The CEO selected by the company has more than 35 years of experience in financial services and will oversee the newly combined companies LoyaltyExpress, SoftVu and LendingManager.
Read on to learn who will lead the company’s strategic initiatives and growth.
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Loan defects on the rise
Posted Date: Wednesday, December 12, 2018
The frequency of defects, fraud and misrepresentation submitted in mortgage loan applications increased during October.
Read on for more details from the latest First American Loan Application Defect Index.
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Qualia integrates reQuire
Posted Date: Wednesday, December 12, 2018
Qualia has integrated reQuire’s suite of technology-enabled services into its real estate platform.
Read on for more details.
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House committee releases cybersecurity report
Posted Date: Tuesday, December 11, 2018
The majority staff of the House Energy and Commerce Committee has released a cybersecurity report which identifies the root causes of cybersecurity issues and what organizations can do to strengthen their defenses.
The report identifies six interrelated, core cybersecurity concepts that contribute to cybersecurity breaches, as well as six priorities addressing the core concepts.
Read on for more details from the subcommittee’s report.
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Tech-driven brokerage expands into Mississippi
Posted Date: Tuesday, December 11, 2018
The technology-driven real estate brokerage Real has expanded into Mississippi, the company announced.
Real, which now touts agents in 21 states and 96 markets, also hired an industry veteran with nearly two decades of experience to serve as its Mississippi state broker.
Read on to learn what the company’s CEO had to say about the new hire, and the company’s plans for Mississippi.
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Southern Title expands team
Posted Date: Tuesday, December 11, 2018
Southern Title has expanded its team with the addition of a controller and an executive assistant, the company announced.
Read on for more details.
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Builder confidence drops sharply
Posted Date: Tuesday, December 11, 2018
Concerns about affordability of newly built single-family homes lowered the confidence of builders during November.
Read on for more details from the latest National Association of Home Builders(NAHB)/Wells Fargo Housing Market Index.
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SingleSource hires vice president
Posted Date: Tuesday, December 11, 2018
SingleSource Property Solutions has hired a vice president of people development.
Read on for more details.
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Notarize, ResWare collaborate on Florida eClosing
Posted Date: Thursday, December 6, 2018
Notarize, ResWare and Cottrell Title & Escrow recently collaborated on an eClosing the companies said was the first in southwest Florida.
The closing involved an 82-year-old New Hampshire resident who sold his winter condo in Bonita Springs, Fla. The closing took less than an hour and was done from the seller’s living room.
Read on for more details about the eClosing.
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Michigan company first to use Black Knight’s mobile solution
Posted Date: Thursday, December 6, 2018
A Michigan-based mortgage company is the first client to use Black Knight, Inc.’s new mobile solution, the companies announced.
The solution was launched in June and is designed to deliver detailed, timely and highly personalized information to customers about the value of their homes.
Read on to learn what executives from both the mortgage company and Black Knight said about the new mobile solution.
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Third-quarter flipping rate lowest in three years
Posted Date: Thursday, December 6, 2018
The homes flipped during the third quarter represented 5 percent of all single family home and condo sales, down slightly from one year ago.
Read on for more details from the ATTOM Data Solutions Q3 2018 U.S. Home Flipping Report.
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