News By Edition

Title insurance is complicated, and not just in regard to a consumer’s understanding of the product or policy. The regional differences from state to state remove a universal understanding of the title business that can make certain decisions more complicated and confusing for even the most veteran of title professionals as they start to grow their businesses. 

On a recent webinar, Mandrien Consulting tried to demystify these issues a little bit, provide a clearer blue print and pose important questions for any title agent looking to ramp up business across a wider geography.

Think holistically

 “Where do you begin? You begin with a deep dive into your strategic planning of where you want to start,” said Rusty Solomon, chief executive officer of Mandrien, which acts as product manager for many agencies looking to work on a licensing plan by researching fees, coordinating with underwriters, buttoning up documents that need to be sent, and much more. “It’s rhetorical question. You don’t just start getting licensed. You need to think about it; plan it; give it deep thought.”

How many states do you want to enter, which ones and why?

News from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey showed the continued strengthening in purchase activity as well as another slight boost in refinances mostly through government channels.

Windward Consulting made two announcements linked to its continued growth this week, including a new office space and a new hire. Read on for more details on both.

Premiums written from purchase transactions increased substantially versus the prior year period, while the level of refinance activity has trended slightly downward, and according to Investors Title Co., those factors, as well as a more favorable claims experience, contributed to a jump in net income compared to the prior-year period.

The American Land Title Association, the national trade association of the land title insurance industry, awarded three National Title Professional designations and handed out its “Protecting the American Dream” award during its Federal Conference in Washington, D.C.

This year’s Voice of the Title Agent special report was the longest one to date — and we still had more content. Here is one of those features. We asked our agent respondents: “Has your E&O insurance policy changed in the last 12 months?” Read on for the results and some additional commentary.

This was just one question amid a variety of title industry related business and opinion questions we asked in the 2013 Voice of the Title Agent survey this year. To download your copy of the special report, click here.

Real Estate Data Shield’s compliance and data security Awareness e-Courseware wins this year’s Horizon Interactive Bronze Award. The Horizon Interactive Awards is an international competition for excellence in interactive media production.

Title365 Company, a nationwide provider of title insurance and escrow services, announced that a 25-year sales veteran joined the team as its new vice president, director of business development for the Greater San Diego County area. She is responsible Title365’s recruitment, training, talent acquisition and development of customer-centric programs throughout the region.

Carmen Chu, San Francisco Assessor-Recorder, announced that San Francisco County has begun to electronically record real estate and land use records, partnering with Corporation Service Co (CSC).

Fidelity National Financial posted its first quarter earnings and during its call discussing the numbers, there were a few interesting quotes to note concerning the potential dip in refinance transactions to close out the year, the business mix and its effect on staffing levels and the area of the company they are most focused on growing right now.

With steady growth in the year’s first quarter, Independence Title Inc.’s Fort Lauderdale, Fla., office responds with an expansion of its team adding another licensed title agent to their staff, making that three licensed title agents in all to help fill the needs of a busy marketplace.

Stewart Lender Services, Inc. announced the hire of a vice chairman and executive vice president of strategy and business development.

October Research, LLC is pleased to announce that WINDWARD CONSULTING | SOFTWARE, LLC is once again the corporate sponsor of the annual "Make a Child Smile" Bike-Building Charity Event at the National Settlement Services Summit.

The American Land Title Association last week issued a warning to title agents about a new spam email going around that is meant to look like an official email from ALTA. ALTA seems to have a handle on the issue, but the news resonated on a broader scale. This spam email is so specific in its focus and is yet another warning shot that outsiders have their sights set on the title insurance industry.

As lenders and regulatory agencies place increased importance on the security of the closing process, title companies are seeking new solutions to secure their files and the non-public personal information they contain. Although pre-closing processes are increasingly handled electronically, most buyers and borrowers still leave closings with a stack of papers containing their most sensitive personal and financial information. YourDox and GreenFolders are attempting to bridge this gap with a new solution.

Fidelity National Financial reported its highest first quarter pre-tax title margin in close to a decade (12.3 percent) and a 16 percent increase from the prior-year period, partly driven by a slight shift in business mix to purchase over refinance transactions, as well as a sharp increase in closed orders.

PropertyInfo Corp., a Stewart company, announced the enhanced SureClose guest view for SureClose title agency customers. The guest view allows title agencies using SureClose to extend their brand to customers by providing a custom online transaction portal.

Equity National has introduced Equity ISP, an insurance product protecting the insured mortgage lender against closing fraud, defalcation and closing instruction violations – issues that go beyond the standard protections in a closing protection letter.

Contributor Carl Grimes says title company owners and most small business owners need to know which way the tide is headed in order to make a good decision about setting “sail” on the sale of their business. And the news is, the tide is going out, receding, moving away from the shore of prosperity for owners of businesses. Why, you may ask, is the tide going out?