News By Edition

Wisconsin-based The Title Exchange, led by industry veteran Cindy Budiac, is gearing up to open a new office after roughly one year of operations.

Budiac detailed her business journey with The Title Report, offering advice on how to navigate a subdued housing market, get creative with day-to-day duties and overcome fear of the unknown.

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Real estate fintech company Stavvy has made its second notable acquisition in the past few months, this time bringing Evolve Mortgage Services’ SigniaDocuments suite under its wing.

As part of the acquisition, two Evolve Mortgage Services executives will join Stavvy and play pivotal roles in the company’s continued growth.

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Anywhere Real Estate Inc.’s recent third quarter earnings reports showed quarterly and year-over-year declines in title group revenue. Third quarter companywide revenue came in at $1.6 billion.

Title earnings in the third quarter dropped from quarter two but still eclipsed the first quarter. Anywhere said it expects the full year 2023 transaction volumes to decline about 15-20 percent year-over-year.

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Fathom Holdings, Inc. has announced its choice for a new CEO as its founder and former CEO, Joshua Harley, assumes a new role with the company. Personnel moves also led to a new board of directors chairman.

Harley founded Fathom Holdings in 2010. During his tenure as board chair and CEO, the company experienced unprecedented growth in revenue and agents while expanding nationwide.

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Flueid has added a new member to its board of directors who brings experience in executive roles at companies including First American Financial Corp. and Zillow to the seat.

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Wescom is offering a 0.50 percent APR conversion rate discount on a home equity line of credit balance utilizing the new fixed rate feature to combat rate hikes, the institution announced.

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New listings were near their six-month high in October, helping drive an increase in pending sales, though homebuyers backed out of deals at the highest rate on record, according to Redfin.

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A new seed funding round from Pippin Title will allow the company to apply proprietary data to large-scale green energy deals, according to leaders.

Since expanding into green energy, Pippin has partnered with a wind energy company with 3.1 million customers and a solar power company providing energy in more than 20 states.

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Kansas-based CaseMax is partnering with Title Services Corp. of Iowa on the creation of a new solution for a client, the first CaseMax-to-CaseMax integration directly from TSC’s CaseMax platform to the client's system.

CaseMax software is part of more than 40 third-party integrations for collections and mortgage default as a turnkey solution to case file management.

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Fannie Mae Chief Economist Doug Duncan provided his insight as part of October Research’s most recent Economic Forecast Series webinar, touching on interest rates, market outlooks and more for 2024.

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Dorsey & Whitney LLP has brought on a real estate of counsel for the Phoenix office, continuing growth plans laid out when the firm entered that market last year.

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New data from ATTOM shows home values in Opportunity Zones rising slightly more in the third quarter than in other sectors of the housing market.

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A third quarter earnings report from Investors Title Co. shows revenue down roughly 21 percent year-over-year, coming in at $61.4 million for the three months ending Sept. 30.

Leaders said drops in title insurance revenues are attributable to a decline in transaction volumes resulting from higher average mortgage interest rates and ongoing housing inventory constraints.

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Fathom Realty, a subsidiary of Fathom Holdings, Inc., announced its acquisition of a Massachusetts firm, the fourth business added by Fathom Holdings since September. Other recent deals have taken place in California, Louisiana and Texas.

Fathom Holdings’ brands include Fathom Realty, Dagley Insurance, Encompass Lending Group, intelliAgent, LiveBy, Real Results and Verus Title.

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Old Republic International Corp. announced a “definitive exit from the mortgage insurance business,” selling its run-off mortgage insurance business, comprised of RMIC Companies, Inc. and other subsidiaries, to Arch Capital Group Ltd.

The transaction is subject to regulatory approval and is expected to close in the first half of 2024.

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Kentucky-based Southern Title, LLC, has found a new vice president of operations after switching ownership earlier this year.

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El Paso, Texas-based Lone Star Title Co. is releasing a new platform aimed at enhancing the closing experience for Realtors and lenders.

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Mortgage payments have risen more than 4 percent in a month and almost 10 percent in a year, but low housing inventory levels continue to spur buyer demand, according to Zillow.

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Washington, D.C.-based Alltech National Title is releasing TitleGPT.ai, a machine learning platform with features including AI-driven property insights and centralization of underwriting information. 

The platform is set to be released in the first quarter of 2024 with early access already available through Alltech National Title, which provides title and escrow services nationwide. 

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Doma Holdings, Inc. reported quarterly and year-over-year drops in revenue for the third quarter, but also improvements in gross profit and adjusted gross profit.

The company also announced the launch of a new product that will allow lender customers to receive near-instant title certainty at the point of deciding whether to underwrite the loan.

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Fathom Holdings  subsidiary Fathom Realty has acquired a California real estate brokerage to aid ongoing expansion efforts in the state.

The deal marks the latest of a flurry of recent acquisitions under the Fathom Holdings umbrella, with the company announcing similar moves this fall in states including Texas and Louisiana.

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Florida-based Avanze Business Solutions is bringing on a new executive vice president of enterprise sales as the company gears up for growth and expansion.

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Zillow’s app and property pages have received updates, which include improved navigation on for-sale listings and a way to simplify financing with the new Zillow Home Loans tab.

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Mortgage-purchase applications are up 3 percent week-over-week as homebuyers act on a few pieces of buyer-friendly news. Mortgage rates have dropped in the last few weeks, and there are more homes for sale, according to Redfin.

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Fidelity National Financial, Inc. showed $1.9 billion in title segment revenue in  its third quarter earnings report, equaling second quarter totals but down from $2.3 billion year-over-year.

Direct title premiums in the third quarter came in at $524 million, down from $541 million in the second quarter.

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Texas-based TitleLogix has put forth a new tax certification platform that lets users process and review tax service requests from anywhere at any time.

Products produced by the new platform include ad valorem tax certificates, homeowners association (HOA) certificates, notice to purchaser and notice of obligation documents consisting of current and delinquent tax and HOA information.

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An industry veteran to has been promoted to lead sales operations and will oversee revenue for all products and services at DocMagic.

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Michigan-based Sun Title is introducing “Sunny,” an AI chatbot designed to improve the real estate transaction experience for all parties.

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The number of vacant homes in foreclosure is ticking upward for the seventh straight quarter, with “zombie” property inventory going up 1.4 percent quarterly and 15 percent annually, according to ATTOM.

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