News By Edition

New American Land Title Association (ALTA) President Richard Welshons sat down with The Title Report for an exclusive interview during ALTA ONE.

The long-time industry leader outlined several initiatives for his term including a continued focus on adoption of new technology, tackling regulatory hurdles and outreach to homebuyers.

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Fidelity National Financial’s third quarter earnings report showed a year-over-year increase in title segment revenue as well as direct title premiums and agency title premiums.

For the title segment, total revenue of $2.1 billion for the quarter marked an 11 percent increase over the third quarter of 2023.

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DomiDocs has put forth HomeLock 3.0+AI, which adds new artificial intelligence-driven capabilities to its residential property fraud protection system.

In addition to its direct-to-consumer availability, HomeLock 3.0+AI is now integrated with SoftPro, making it available on 50 percent of all real estate closings nationwide, company leaders said.

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The latest data from the Federal Reserve System’s Beige Book showed housing market activity remained steady with some level of expanded inventory. Still, interest rate uncertainty is keeping many buyers on the sidelines.

Commercial real estate markets were generally flat, although data center and infrastructure projects boosted activity in a few districts.

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Old Republic Title has tapped a new chief financial officer (CFO) as its departing CFO steps into an advisory role leading up to retirement next year.

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Qualia and Arkansas-based Encore Bank have announced a partnership and integration to streamline real estate closing services.

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New third quarter data from ATTOM showed just under half of mortgaged residential properties were equity-rich, a slight dip from the second quarter.

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Fraud prevention firm Closinglock has formed a new partnership with IT, cybersecurity and cloud services provider Premier One, bundling multiple services for title industry clients.

Company leaders said the bundled rate will allow title companies to seamlessly integrate software and hardware protection at a more affordable, discounted price point.

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Industry experts shared their insight on how the eClosing customer experience can be further improved, seeking to overcome obstacles such as slow implementation by key industry players.

A lack of technology, insufficient training, or a belief that transitioning to eClosings may be too costly or complex are also cited as factors stopping for widespread adoption.

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Unfilled job openings increased in October as the labor market remained tight, according to latest data from the National Federation of Independent Business.

Seasonally adjusted, a net 31 percent of small-business owners reported raising compensation, down one point from September and the lowest reading since April 2021.

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Real estate law firm Cohen Seglias has brought on an attorney with a lengthy title insurance industry background to serve on its Washington, D.C., team.

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A New Hampshire-based real estate firm has integrated with blockchain technology provider Ubitquity’s NFTitle Network.

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Redfin data shows that on a local level, house sales are increasing in most major metros. Other demand indicators, like requests for home tours and mortgage-rate locks, are also improving.

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Old Republic International Corp. posted net premium and fee gains across its title segment in the third quarter, according to its earnings report.

Title insurance net premiums and fees earned increased by 3.5 percent year-over-year for the third quarter and were essentially flat for the first nine months.

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A new “Done for You” platform from NotaryCam offers mortgage lenders the fastest route to eClosings with minimal effort, overcoming traditional implementation hurdles, according to the company.

The platform can generate eNotes from a government sponsored entity-approved vendor and deposit it into a NotaryCam eVault, among other features.

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Verification of title provider Flueid has brought in more than $8 million in new capital investment, which will go toward business growth and acceleration of product development.

This growth financing round was led by LiveOak Ventures, an Austin, Texas-based venture capital firm focused on investing in exceptional Texas-based founders.

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AmTrust Title Insurance Co. has expanded its agency division with five new hires, including an agency area sales manager.

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FundingShield and OptiFunder have entered into an integration agreement, providing wire and title fraud prevention solutions to clients.

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New Zillow survey data finds many buyers are securing lower mortgage rates from home builders, sellers, or borrowing from friends or family members.

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Stewart Information Services Corp. recorded an increase in companywide revenue and title segment revenue in the third quarter, according to a new earnings report.

Total third quarter revenue of $667.9 million ($663.2 million on an adjusted basis)was up from $601.7 million ($603.7 million on an adjusted basis) in the prior year third quarter.

Read on to find out more details from the earnings report.

As the second half of 2024 unfolds with an interest rate cut finally taking place, the potential for an increase in refinances remains a hot topic within the mortgage and title insurance industries.

Industry experts lay out factors in the short- and long-term that will determine the likelihood of a new refinance boom period, including more rate cuts.

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Alliant National Title Insurance Co. has brought in an industry veteran from a national underwriter to serve as its senior underwriting counsel in Florida.

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Identity verification provider Proof has integrated with digital mortgage service firm ServiceLink to enhance fraud prevention across both digital and traditional real estate transactions.

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Redfin reports property tax bills have increased since 2019 in nearly every major metro. Florida is home to three of the five metros with the biggest hikes due to the pandemic-driven homebuying boom and the increasing intensity of climate disasters.

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A third quarter earnings report from First American Financial Corp. showed companywide and title segment revenue down year-over-year and from the second quarter of 2024, but slight improvement in adjusted revenue.

Direct premiums and escrow fees were up from the third quarter of last year, according to the report, driven by increases in the average revenue per order closed and the number of direct title orders closed in domestic operations.

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A pair of long-standing credit unions have agreed to form a joint venture to become part of United Members Title, LLC, which was launched in 2022 as an affiliate of two of North Carolina’s largest credit unions.

Investors Title Insurance Co., which has held the number one market share in North Carolina since 1984, underwrites title insurance policies for the joint venture.

Read on to find out more information about the joint venture.

Illinois-based Landtrust Title Services has opened a new location just north of Chicago and announced a quartet of key hires to help lead the expansion and handle increased business.

Landtrust Title Services operates 15 brick and mortar locations in the Chicagoland area and is handling a growing volume of online notarizations.

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An integration between Payload and REDA One has spelled the launch of REDA Pay, an embedded payment solution tailored for Salesforce users.

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ServiceLink has brought on a veteran leader in product management and technology consulting as its new senior vice president of product innovation.

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A third quarter home sales report from ATTOM shows homesellers taking in slightly smaller profit margins compared with this time last year and the second quarter of 2024.

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