News By Edition

A long-time title industry leader and senior escrow officer has opened The Title Link, a full-service title agency in Bonita Springs, Fla.

Owner and President Randi Benge sat down with The Title Report to share what goes into establishing a new business amid unique local market conditions and still-uncertain nationwide transaction volume.

Read on to find out more information.

Stewart Information Services Corp. reported year-over-year drops in companywide revenue for the fourth quarter of 2023 as well as the full year.

The close of 2023 also halted a trend of Stewart’s title segment revenue increasing on a quarterly basis, as revenue dropped from $522 million in the third quarter to $503 million in the fourth.

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Closinglock has brought in $12 million from multiple investment firms during its most recent Series A funding round, which leaders say will aid product development and tech infrastructure.

Over the past year, Closinglock has partnered with several entities on digital payments and wire transfer security including J.P Morgan and CATIC.

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Millennial Title has opened a new office just east of Lexington, Ky., as it continues to eye further expansion within Kentucky and beyond.

Established by company President Chip Ridge nine years ago, Millennial Title now operates locations in Kentucky, Ohio, Tennessee, Indiana, Florida, Georgia, North Carolina and South Carolina.

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Real estate transaction software provider Sisu announced the launch of Sympli, a technology solution designed to assist Sisu clients in establishing their own mortgage, insurance and title businesses.

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Alliant National Title Insurance Co. has hired a new state agency manager with 25 years of title and real estate experience for Pennsylvania and New Jersey.

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New Zillow analysis finds Texas and California top the list of Gen Z relocation destinations, with Michigan and Iowa among the least sought.

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First American Financial Corp. reported fourth quarter and full year 2023 earnings results, showing drops in companywide and title segment revenue.

Total fourth quarter revenue was down 15 percent year-over-year, while full year 2023 revenue was down 21 percent compared with 2022. Total fourth quarter revenue for the title insurance and services segment was down 18 percent year-over-year.

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Homebuilder and title insurance provider Dream Finders Homes, Inc. has acquired the assets of a large privately held homebuilder operating in South Carolina and Tennessee.

Assets acquired include 457 homesites in varying stages of construction, a sales order backlog of approximately 460 homes with a value in excess of $265 million, and approximately 6,200 lots under control.

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eXp Realty and Citrus Closing Group are working together to create a strategic affiliated title business to bring title services to Orlando, Fla., and surrounding areas.

The affiliated business arrangement will support eXp Realty agents in Lake Seminole, Osceola, Orange, and Brevard counties with a local title partner.

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American Financial Network has tapped Snapdocs’ eClosing and eVault solutions to accelerate retail digital closing adoption, improve margins, and increase secondary market efficiency.

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Doma Title Insurance, Inc. has appointed a new agency manager for its north Texas region, a second-generation title professional.

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High mortgage rates and harsh weather are pushing down home sales, but some house hunters are touring and getting a feel for the market, according to Redfin.

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The 2024 State of Wire Fraud report from CertifID shows roughly 10 percent of Americans being targets for real estate fraud, with median consumer losses in such schemes exceeding $70,000 per incident.

More than half of consumers said they were not adequately educated of the risks of real estate wire fraud before closing, according to the report, and a vast majority expected their real estate agent, title company, attorney, or other transaction participant to take the initiative.

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San Francisco-based DocuSign announced a new round of layoffs in a recent filing with the U.S. Securities and Exchange Commission.

In October 2022, the company laid off roughly 9 percent of its workforce. Leaders attribute new reductions to a need for “strengthening and supporting the company’s operational efficiency.”

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Missouri-based True Title Co. announced the establishment of its second office in the state of Colorado, coming roughly one month after opening its first office in the state.

The company said it plans to open offices throughout the Denver metro area to meet consumer demand for residential and commercial title services.

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The Clearing House and Mastercard announced an extension of their partnership, continuing Mastercard’s role as the exclusive instant payment software provider for the real-time payment network.

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Texas-based South Land Title appointed a new president, promoting its vice president of commercial business development.

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A recent survey from Zillow found that Kansas City Chiefs’ tight end Travis Kelce was the most popular prospective next-door neighbor among pro football stars, ranking just ahead of Chiefs quarterback Patrick Mahomes.

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Florida-based Dono has launched its automated title search platform in its home state with eyes on expansion later this year. Company Chief Operating Officer and co-founder Eyal Stern shared plans with The Title Report.

The platform provides users with a ChatGPT-like “title co-pilot,” allowing them to process and analyze thousands of records in a single search, among other functions.

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Proptech firm RealReports has brought in $2 million in seed funding for its AI-powered “Carfax for homes” product, which the company said provides detailed information on every property nationwide.

RealReports said increased transparency for homebuyers is even more important right now with increased scrutiny for wide swaths of the real estate industry, in light of the recent brokerage cooperative compensation lawsuits.

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DomiDocs has put forth a new homeowner enablement platform it says will increase residential property values, mitigate costly risks, and reduce expenses.

Features include protection against residential property fraud and tech-driven appraisal. With future plans of AI-powered recommendations for each individual property, consumers can access the technology through both free and paid memberships.

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Stewart Title announced a new integration with a Canadian legal entity management, workflow automation and document automation platform.

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Fathom Realty used a promotion to appoint its new senior vice president of operations. She played a large part in creating the company’s agent mentor program.

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Redfin reports new construction has taken up a growing share of the for-sale housing pie because homebuilding has increased and the number of individual homeowners selling has decreased.

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Philadelphia-based title and settlement services provider TitleEQ has opened its first office in the state of Texas, the third new office for the company since this past fall.

This past October, TitleEQ secured a $1.5 million round of investment capital. A collection of private equity and commercial real estate interests are behind that funding, according to the company.

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Real estate fintech Stavvy and mortgage services provider ServiceLink are teaming up to increase efficiency and cut costs related to eNotarization, the companies announced. 

Roughly half (48 percent) of respondents to ServiceLink’s 2023 State of Homebuying Report said they had eSigned their application or closing documents. That number share is expected to grow, according to the companies.

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SoftPro has announced a new integration with General Title Insurance Co., allowing General Title agents to order and generate approved closing protection letters and policy jackets in one portal.

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AmTrust Title has tapped a 25-year industry veteran and former president of the New York State Land Title Association as its new president.

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A new report from property data curator ATTOM shows a slight drop in nationwide home equity during the fourth quarter of 2023.

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CATIC has entered a strategic partnership with a cybercrime prevention firm as its latest measure to combat the rising tide of attacks against financial and real estate institutions.

CATIC’s annual cybersecurity report released this past November showed the average ransomware payment increased from $228,000 to $5.3 million between 2022 and 2023.

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Proliant Settlement Systems of Auburn Hills, Mich., announced it has signed 10 new franchisees, with leaders touting expansion of tech-focused services to new communities with a focus on efficiency and transparency. 

Founded in 2018, Proliant Settlement Systems’ franchise model provided clients with a business framework, comprehensive training, and ongoing support.

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Labor quality and costs remain top challenges for small-business owners, according to new data from the National Federation of Independent Business.

The share of small-business owners reporting labor quality as their top small-business operating problem remained elevated at 21 percent, up one point from December.

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The American Land Title Association (ALTA) will integrate its ALTA Registry data into the Qualia platform, leaders recently announced.

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The FNF Family of Companies has brought on a new vice president of strategic growth and development who serves as a popular speaker across the title industry.

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Prices of luxury homes rose at twice the pace of non-luxury homes at the end of 2023, partly because elevated mortgage rates are irrelevant to many affluent buyers, according to Redfin.

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