News By Edition

Stewart Information Services Corp.’s first quarter was the strongest in its history, according to the company’s latest earnings report.

 CEO Fred Eppinger said the company built on a strong market and a new sense of focus and alignment to create “real momentum” to begin the year.

 However, Eppinger warned that the coronavirus pandemic has carried title underwriters into uncharted waters.

An insurtech company that provides real estate closing automation solutions for the title insurance, real estate and mortgage lending industries recently completed a strategic investment.

 The investment was led by Aquiline Technology Growth, an early- and growth-stage fund managed by Aquiline Capital Partners, a New York and London-based private equity firm.

 Read on for more details.

Champion Title and Settlements, Inc. in recent weeks has closed more than 30 home equity lines for NextMark Credit Union using eNotarization, the company announced.

 Champion said the eClosings have eliminated the need for any in-person interaction at settlement, with all signatures and notarizations executed online via Internet and webcam.

 Read on for more details.

Black Knight said its iOnTitle solution can help prevent fraudulent transactions from taking place while many county recorder offices remain closed in response to the coronavirus pandemic.

Read on for more details.

First American Financial Corp. reported improved first-quarter earnings, including a nearly double-digit increase in total revenue, according to the company’s latest earnings statement.

 But even as First American reported improved first-quarter earnings, it projected a steep decline in second-quarter earnings because of the economic disruption caused by the coronavirus pandemic.

 Read on for more details from First American’s latest earnings statement.

Stewart Title has entered into an agreement with SIGNiX to offer the latter’s digital signature products to its internal notaries and network, the company announced.

Stewart Senior Vice President Scott Gillen said it’s important that the company offer its associates and agents a suite of reliable and proven digital solutions.

Read on to learn what SIGNiX said about the partnership.

Title agencies and law firms in 13 states now can use the Notarize platform to complete their own real estate closings, the company announced.

 Notarize said it is excited to help title agents, escrow officers, and real estate attorneys complete their closings in this new way at a time where in-person closings are neither practical or safe.

 Read on for more details about the new offering.

Westcor Land Title Insurance Co. has hired a vice president, regional manager.

Read on for more details.

Home sellers during this year’s first quarter realized a home price gain of $67,100 on the typical sale, up from $66,264 in the fourth quarter of 2019 and up from $59,000 one year ago.

Read on for more details.

An “exceptionally strong” performance by its title insurance segment helped Old Republic International Corp. produce improved first-quarter numbers despite the coronavirus pandemic.

 Old Republic’s title segment set first-quarter highs in both direct and independent agency revenue and operating profitability. Additionally, both quarterly agency premiums and direct operating revenue increased significantly.

 Read on for more details from Old Republic’s first-quarter earnings statement.

Community Title Network, through its eRecording partner Simplifile, recently eRecorded the first deed in a purchase transaction in Montgomery County, Md.

 The company said the eRecording process included the electronic payment of transfer taxes through the Montgomery County Transfer Office as well as the electronic recording of the transfer documents in the county land records.

 Read on for more details.

Greater Illinois Title Co. and its subsidiaries now are offering a suite of virtual closing tools it said allow customers to execute documents conveniently, securely and safely from their homes.

 The company said the new tools simplify virtual closings and offers clients a full menu of eClosing solutions customized for their client’s transactions.

 Read on for more details. 

PropLogix has launched a payoff letter service designed to save closing agents time.

Read on for more details.

March home sales increased 2.7 percent year-over-year in the 52 markets examined in the RE/MAX National Housing Report.

Read on for more details.

Federal Housing Commissioner Brian Montgomery, who has served in various leadership roles as a political appointee under four U.S. presidents, said the COVID-19 pandemic is unlike anything he’s ever seen before.

Montgomery spoke to RESPA News, a sister publication to The Title Report, about how the Department of Housing and Urban Development and the Federal Housing Administration are faring during a time of great uncertainty for the mortgage industry.

Read on to learn what Montgomery had to say.

The title insurance industry generated $15.81 billion in premiums during 2019, up 6.5 percent compared with $14.84 billion during 2018, according to an analysis by the American Land Title Association.

 ALTA CEO Diane Tomb said member companies quickly have modified business practices and implemented business continuity plans to ensure safe real estate and mortgage closings during the coronavirus pandemic.

 Read on for more details.

Realogy subsidiary TitleOne has expanded its presence into 18 of Idaho’s 44 counties with its acquisition of Payette County Title and Escrow. Financial terms of the deal were not disclosed.

 TitleOne President Jason Vickrey said the acquired agency has established a reputation for guiding clients with professionalism, efficiency, and integrity and will strengthen the company’s presence in the Northwest.

 Read on for more details.

North American Title Insurance Co. has named a vice president, regional underwriting counsel for Colorado, Minnesota, Wisconsin, Wyoming and Idaho.

Read on for more details.

Home sales slipped and the number of homes listed for sale plunged during March because of the coronavirus.

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Several credit unions were part of the latest round of funding of LenderClose.

Read on for more details.

As the coronavirus pandemic began to grip the real estate market in mid- to late March, plunging interest rates spurred a huge surge in opened orders for the Big Four underwriters.

 Interest rates in March dropped to their lowest percentage since January 2013, prompting thousands of consumers to start the process of refinancing mortgages, which is expected to fuel closed order totals throughout April and May.

 Read on for more details.

String Real Estate Information Services recently announced additions to its executive leadership team, including a director of operations and leaders of its finance, title operations and training and quality.

String Managing Director Prashant Kothari said the newly promoted company veterans highlight the company’s success in building an operations team with an unparalleled work ethic and dedication.

Read on for more details.

The California-based real estate tech platform that includes HomeLight Closing Services has launched a program to identify Realtors using the best practices during the coronavirus pandemic.

As part of the certification program, HomeLight said it will help agents identify and adopt best practices and add capabilities so that they can qualify for the certification and better serve their clients. 

Read on for more details.

Foreclosure filings in March declined 3 percent from the previous month and 20 percent from one year ago.

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As interest rates sunk to their lowest percentage since January 2013, the percentage of refinances in March continued to spike upward.

Read on for more details.

As a result of the coronavirus pandemic, the IRS has provided an extension for some 1031 exchange taxpayers. However, because of unclear language in the agency’s Notice 2020-23, there is a debate as to the length of the extension.

 To address these issues, Kensington Vanguard National Land Services subsidiary Legal 1031 Exchange Services has created a web-based COVID-19 calculator.

 Read on for more details.

One of the largest independent mortgage lenders in the U.S. has formed a strategic partnership with eOriginal to enhance its eClosing capabilities, the company announced.

 Guild Mortgage said it will incorporate eOriginal’s technology into its eClose solution to create, execute and deliver eNotes. Guild said customers now have the option to review and sign the eNotes remotely.

 Read on for more details.

North American Title Insurance Co. has hired a regional underwriting counsel for Texas, Louisiana and Alabama.

Read on for more details.

Property taxes levied on single-family homes in 2019 totaled $306.4 billion, up 1 percent from $304.6 billion in 2018.

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Adeptive Software has integrated Snap Tax & Lien Search into its ResWare platform.

Read on for more details.