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Why NY denied FNF-Stewart deal
Posted Date: Thursday, May 30, 2019
The New York Department of Financial Services wrote Fidelity National Financial (FNF) Chief Compliance Officer Paul Perez on Jan. 31, detailing its response to the proposed acquisition of Stewart Title by FNF.
Although details of the denial were not made public, The Title Report has been able to obtain a redacted copy of the letter the agency sent to Perez with the analysis from the state regulator of why it denied the deal.
Read on for the exclusive report of the details of the decision, including the agency’s skepticism over FNF and Stewart’s plan regarding independent agents and its analysis of the concentration of market share.
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First American group receives Stevie Awards
Posted Date: Thursday, March 28, 2019
First American Financial Corp.’s Database Solutions Group was recently rewarded Stevie Awards for its commitment to customer service and innovation.
Read on for more details.
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String acquired by American Mortgage Consultants
Posted Date: Monday, March 11, 2019
New York-based American Mortgage Consultants, Inc. (AMC) has acquired the title search outsourcing service String Real Estate Information Services, LLC.
String now is a wholly-owned subsidiary of AMC and has retained its separate branding, as well as its senior management team.
Read on to learn why executives from both companies believe the acquisition is good.
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WACO launches training program
Posted Date: Monday, March 11, 2019
Arkansas-based WACO Title recently launched what it called an industry-first closing agent training program.
WACO said the program will revolutionize the closing industry by fulfilling a job market shortage of trained closing agents, as well as launching a fast-paced training program.
Read on to learn why WACO felt there was a need for such a program.
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ComplianceEase appoints CEO
Posted Date: Monday, March 11, 2019
ComplianceEase has named a new CEO to replace its co-founder and retiring CEO Anita Kwan.
The company’s new CEO was part of the team at TRW Real Estate that developed the first software for the online ordering of title, tax, appraisal and credit services, and has advised the company since 2005.
Read on to learn who the company selected.
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NATC names division manager
Posted Date: Monday, March 11, 2019
North American Title Co. (NATC) has named a southern California division manager.
Read on for more details.
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Fifth Third selects leader for new group
Posted Date: Monday, March 11, 2019
Fifth Third Bank has selected a leader of its new Wholesale Deposits and Financial Solutions group.
Read on for more details.
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Fidelity completes RON closing in Texas
Posted Date: Thursday, March 7, 2019
Fidelity National Financial, Inc. (FNF) recently completed a digital real estate closing that involved a remote online notarization (RON) and digital signature process.
FNF said the RON closing was its first in Texas, where state law allows escrow officers commissioned as online notary publics to perform fully digital closings using a combination of video technology and digital signatures.
Read on for more details.
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WFG approved as direct underwriter in Colorado
Posted Date: Thursday, March 7, 2019
The Colorado Division of Insurance has approved WFG National Title Insurance Co. (WFG) as a direct insurance underwriter in the state, making the company one of only a handful of national underwriters doing business in Colorado.
WFG said direct underwriter status provides assurance to homeowners and mortgage lenders that the company meets the state’s high financial performance standards to handle any claims.
Read on for more details.
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Utah title agency selects SafeChain
Posted Date: Thursday, March 7, 2019
One of the largest independent title agencies in Utah has adopted SafeChain’s platform to protect its wire transactions.
The agency’s title agents will use SafeWire to authenticate ownership of the buyer’s and seller’s respective bank accounts to make sure funds are being sent to and received by authorized parties.
Read on for more details.
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loanDepot names divisional manager
Posted Date: Thursday, March 7, 2019
loanDepot has named a senior vice president, divisional manager of its new Pacific Southwest Division.
Read on for more details.
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Number of flipped homes dropped last year
Posted Date: Thursday, March 7, 2019
The number of U.S. single-family homes and condos flipped in 2018 dropped 4 percent.
Read on for more details from ATTOM Data Solutions’ Q4 and Year-End 2018 U.S. Home Flipping Report.
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NATC appoints division president
Posted Date: Thursday, March 7, 2019
North American Title Co. has named a division president and manager of its Illinois region.
Read on for more details.
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Demmon: NATC and States Title perfect fit
Posted Date: Wednesday, March 6, 2019
The new president of North American Title Co. (NATC) called her company’s acquisition by States Title a marriage made in heaven.
Dia Demmon said States’ acquisition of NATC represents the pairing of a 65-year-old company with valued industry relationships with a young, innovative company known for its technology focus.
Read on to learn more of what Demmon had to say.
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States Title names VP of national operational services
Posted Date: Wednesday, March 6, 2019
States Title, Inc. has named a vice president of national operational services, managing centralized national production and facilities support for its North American Title Co. (NATC) division.
The new vice president has worked for NATC for nearly 24 years, and is a former senior vice president and chief operating officer of Continental Escrow Co.
Read on for more details.
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NYSLTA releases consumer guide
Posted Date: Wednesday, March 6, 2019
The New York State Land Title Association (NYSLTA) has released a new consumer information guide for potential buyers and homeowners.
NYSLTA Executive Director Bob Treuber told The Title Report the guide is designed to educate New Yorkers on the basics of buying a home, common problems or pitfalls for potential buyers and the best way to protect homeowners’ property rights.
Read on for more details.
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Lenders One appoints president
Posted Date: Wednesday, March 6, 2019
Lenders One Cooperative has appointed a president of Lenders One.
Read on for more details.
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Mother Lode selects Foxit Software
Posted Date: Wednesday, March 6, 2019
Mother Lode Holding Co. (MLHC) has selected Foxit Software’s PhantomPDF to help its transition to becoming a paperless organization.
Read on for more details.
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Experts say NY deal denial could impact others
Posted Date: Tuesday, March 5, 2019
As The Title Report obtained details of the letter sent from the New York Department of Financial Services to Fidelity National Financial denying approval of its proposed acquisition of Stewart Title, experts said the reputation of the state regulator could have impact on other jurisdictions.
Read on to learn what Demotech President Joseph Petrelli and Consumer Federation of America Director of Insurance J. Robert Hunter said about the decision.
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Silk hires chief strategy officer
Posted Date: Tuesday, March 5, 2019
The Silk Companies has hired a former CapWest Mortgage executive as its chief strategy officer.
The company’s newest C-Suite member will work with its executive team to automate processes, reduce costs and remove hassle from the traditional closing experience.
Read on to learn what CEO Marc Trachtenberg had to say about the new team member.
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Stewart appoints agency sales representative
Posted Date: Tuesday, March 5, 2019
Stewart Title has appointed an agency sales representative to oversee the agent client relationships in Rhode Island.
Read on for more details.
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Consumer house-buying power rises
Posted Date: Tuesday, March 5, 2019
Consumer house-buying power increased between November and December, but remained below what it was one year ago.
Read on for more details from the First American Real House Price Index.
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Percentage of refinances increased in January
Posted Date: Tuesday, March 5, 2019
The percentage of refinances increased during January likely due to a small decline in interest rates.
Read on for more details from Ellie Mae’s latest Origination Insight Report.
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Beginning-to-end Blockchain deal completed in Vermont
Posted Date: Tuesday, February 26, 2019
Propy recently completed the first real estate transaction in Vermont performed entirely on Blockchain, the company announced.
The parties involved in the transaction transferred payment using cryptocurrency, performed a title search and due diligence, and completed the transaction with the creation of the deed – all on Propy’s Blockchain.
Read on for details about those involved in the transaction.
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The Title Center expands through acquisition
Posted Date: Tuesday, February 26, 2019
Springfield-based Illinois Real Estate Title Center, which does business as The Title Center, recently acquired another agency in Illinois, the company announced.
The acquisition adds offices in Bloomington, Champaign, and Pekin to The Title Center’s existing offices in Springfield, Effingham, Jacksonville, Paris, Peoria, and Quincy.
Read on for more details about the acquisition.
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Former Zillow CEO returns to job
Posted Date: Tuesday, February 26, 2019
The executive chairman of Zillow Group, Inc. has been named CEO, the company announced.
Zillow’s new CEO co-founded the company in 2005 and served as the company’s CEO until 2010, when he became executive chairman.
Zillow also announced another leadership change involving an executive who has been with the company since its founding. Read on for more details.
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NATC names division president
Posted Date: Tuesday, February 26, 2019
North American Title Co. has named an industry veteran to serve as division president/manager of its Florida Division.
Read on for more details.
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ComplianceEase expands partnership with WGS
Posted Date: Tuesday, February 26, 2019
ComplianceEase has expanded its partnership with Wipro Gallagher Solutions (WGS) to offer a complete digital mortgage bundled services package.
Read on for more details.
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Fidelity sets quarterly, yearly commercial records
Posted Date: Friday, February 22, 2019
More commercial orders and an accompanying increase in average commercial fee-per-file helped Fidelity National Financial, Inc. set both quarterly and yearly records for commercial revenue, according to the company’s latest earnings report.
Fidelity CEO Randy Quirk said he’s optimistic 2019’s market will be strengthened by the strong economy, relatively stable mortgage rates, and potentially slower home price appreciation.
Read on for more details from Fidelity’s latest earnings statement.
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loanDepot introduces loan that can close in eight days
Posted Date: Friday, February 22, 2019
loanDepot has launched what it called the first-of-its-kind end-to-end digital loan that also provides increased surety, security and reliability when compared to that of traditional mortgage products and processes.
The company said mello smartloan allows customers to find out if they have the potential to close their mortgage as soon as eight days from the date of application.
Read on for more details.
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D.C.-area title agency opens Maryland office
Posted Date: Friday, February 22, 2019
A D.C.-area title agency has opened a new office in Maryland to accommodate its growing number of clients in Maryland.
The new office features modern reception and meeting spaces that the company said will improve the efficiency of its closings, and offers free on-site parking.
Read on to learn where the new office is located.
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