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The Title Report Print Edition
July 28, 2014
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Is cybersecurity a threat to cyber-privacy? Part 1
Posted Date: Tuesday, July 15, 2014
The U.S. Senate Select Committee on Intelligence recently approved The Cyber Information Sharing Act (CISA) drafted by Dianne Fienstein, D-Calif. and Saxby Chambliss, R-Ga.
“Cyber-attacks present the greatest threat to our national and economic security today, and the magnitude of the threat is growing,” Feinstein said. “Every week we hear about the theft of personal information from retailers and trade secrets from innovative businesses, as well as ongoing efforts by foreign nations to hack government networks. This bill is an important step toward curbing these dangerous cyber attackers.”
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Is cybersecurity a threat to cyber-privacy? Part II
Posted Date: Thursday, July 17, 2014
Growth in cyber-crime has continued, if not accelerated in the financial services industry according to the recently released report, “Transforming cybersecurity: New approaches for an evolving threat landscape” by Deloitte Center for Financial Services.
According to this report, U.S. financial services companies lost, on average, $23.6 million from cybersecurity breaches in 2013, which represents the highest average loss across all industries.
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How to run a tight ship: Streamlining your title operations
Posted Date: Tuesday, July 15, 2014
In the wake of upcoming industry sea changes brought about by federal regulators, there are many unchartered waters to navigate — but it’s important to stay the course when it comes to achieving and maintaining efficiencies in your title operations, a panel of industry leaders told attendees of October Research, LLC’s National Settlement Services Summit (NS3) in New Orleans.
During the three-day annual conference and networking event — celebrating its 10th anniversary in fine style in The Big Easy — three representatives of settlement service technology companies spoke on the subject of reducing title production costs in a session titled, “Revealing the Cost of Title Services: Facts That Will Guide You in Streamlined Operations.”
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Key insights into the e-transaction
Posted Date: Wednesday, July 9, 2014
October Research, LLC recently hosted its 2014 National Settlement Services Summit in New Orleans where Marvin Stone, senior vice president of business integrations for Stewart, Noerena Limon, policy analyst at the Office of Research Markets and Regulations for the Consumer Financial Protection Bureau (CFPB) and Marc Aronson, president of the Pennsylvania Association of Notaries presented, “eClosings, eNotarizations, eSignatures: Key insights to the ultimate e-transaction.”
“Eclosing has jumped to the center stage as a result of the bureau’s efforts recently,” Stone said. “It’s been a long time coming.”
CFPB announcement no surprise to title industry
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Boost your internet presence with valuable content, targeted messaging
Posted Date: Tuesday, July 8, 2014
When it comes to internet marketing and social media, most people know that a basic website and accompanying search engine optimization (SEO) are effective ways to reach new customers. But with more than 1 billion people worldwide actively using other social media tools like Facebook and Twitter, you could be missing out on new opportunities to boost your internet presence and grow your business.
These days, however, it isn't enough to have a Facebook or LinkedIn profile.
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Treasury secretary: GSE reform is ‘unfinished business’
Posted Date: Thursday, July 3, 2014
While conditions in the housing and housing finance markets showed signs of improvement in 2013, the latter continues to require significant reform to enhance financial stability, Department of the Treasury Sec. Jacob J. Lew told members of the House Financial Services Committee in a recent hearing.
During the June 24 hearing, where Lew presented the Financial Stability Oversight Council’s (FSOC) 2014 annual report, he touted the accomplishments in housing finance reform to date, but said he considers it to be “the unfinished business that didn’t get addressed in the immediate wake of the financial crisis.”
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Industry reacts to Julian Castro appointment
Posted Date: Thursday, July 10, 2014
The housing industry is applauding the United State Senate’s overwhelming approval of Julian Castro as Secretary of Housing and Urban Development (HUD). The vote was 71-26 in favor of the former San Antonio mayor.
“Julián is a proven leader, a champion for safe, affordable housing and strong, sustainable neighborhoods,” said President Barrack Obama.
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IBERIABANK Corp. completes acquisition of First Private Bank
Posted Date: Tuesday, July 8, 2014
IBERIABANK Corp. (IBKC), a financial holding company with 21 title insurance offices, completed the acquisition of First Private Holdings Inc. and its subsidiary bank First Private Bank. Both companies are based in Dallas, Texas.
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Title Alliance opens first joint venture in Indiana
Posted Date: Thursday, July 10, 2014
Title Alliance Ltd. will be expanding its geographical reach westward to Indiana with its most recent title joint venture with Keller Williams Indy Metro South. This marks the company’s first joint venture in Indiana.
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Mortgage lender pleads guilty in multi-million-dollar mortgage fraud scheme
Posted Date: Thursday, July 17, 2014
The Miami, Fla. Division of the Federal Bureau of Investigation (FBI) announced that Karl Oreste, 56, of Miramar, pled guilty before U.S. District Judge Robert Scola, Jr., to one count of conspiracy to commit wire fraud affecting a financial institution, in violation of Title 18, United States Code, Section 1349.
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TSS adds FasTrax to RealExpress vendor network
Posted Date: Thursday, July 10, 2014
TSS Software, a technology solutions provider to the title and settlement services industry, integrated TitleExpress with First American SMS FasTrax platform. Read on to learn more.
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SafeSend free to title and settlement services firms
Posted Date: Tuesday, July 8, 2014
NextDeal, a developer of a software as a service solution has made encryption software, SafeSend, available to the settlement services industry at no cost. Keep reading to learn more about this offering.
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Jurisdictions around the country begin e-recording
Posted Date: Thursday, July 3, 2014
Several jurisdictions have signed up for e-recording with Simplifile recently including The City of Hartford, Conn. York County in South Carolina, Kalamazoo County, Mich. and Knox County, Maine.
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Peter Carroll named to MISMO board of directors
Posted Date: Thursday, July 3, 2014
The Mortgage Bankers Association, parent organization of the Mortgage Industry Standards Maintenance Organization, appointed Peter Carroll to the MISMO board of directors. Read on for more information.
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Beacon Default Management appoints new president
Posted Date: Tuesday, July 15, 2014
Beacon Default Management Inc., a trustee company providing non-judicial foreclosure services in the Western United States, appointed Tina Suihkonen as the company’s new president. She will join the team of commercial banking, title insurance and loan workout experts.
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New home purchases decrease by 5 percent
Posted Date: Thursday, July 17, 2014
The Mortgage Bankers Association Builder Application Survey data for June 2014 shows mortgage applications for new home purchases decreased by 5 percent relative to the previous month.
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OneTitle names new executive vice president
Posted Date: Thursday, July 17, 2014
OneTitle National Guaranty Co. Inc. appointed a new executive vice president to oversee all underwriting, legal, fraud prevention and regulatory affairs.
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Federal Reserve Districts report optimism, economic activity expanding
Posted Date: Thursday, July 17, 2014
A Board of Governors of the Federal Reserve System’s Summary of Commentary on Current Economic Conditions, more commonly known as the Beige Book, was released July 16.
All 12 districts indicated that economic activity continued to expand since the previous report.
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Old Republic to announce second-quarter earnings
Posted Date: Tuesday, July 15, 2014
Old Republic International Corp. (ORI) will hold a conference call at 3 p.m. ET July 24 to discuss its second-quarter results. The call can be accessed live on Old Republic’s website, oldrepublic.com, or on a listen-only phone line at 888-438-5535.
Mark Bilbrey, president of Old Republic Title Insurance Co., said earnings were positive in the title group at $4.7 million despite the significant downturn in the first quarter. Commercial business remained strong and market share continued to increase.
Old Republic CEO says title business a powerful Q1 earnings contributor
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North American adds executives coast to coast
Posted Date: Tuesday, July 15, 2014
North American Title Co., one of the largest real estate settlement service providers, added several industry experts to its roster this summer. Its underwriter, North American Title Insurance Co., has also added executives in Florida.
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Home prices rise 8.8 percent year-over-year in May
Posted Date: Tuesday, July 15, 2014
CoreLogic, a global property information, analytics and data-enabled services provider, released its May CoreLogic Home Price Index (HPI) report. Home prices nationwide, including distressed sales, increased 8.8 percent in May 2014 compared to May 2013. Keep reading for more information.
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Housing scorecard shows surge in new home purchases
Posted Date: Monday, July 14, 2014
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Treasury released its June edition of the Obama Administration’s Housing Scorecard – a comprehensive report on the nation’s housing market. The latest data show progress among key indicators, including growing entity and rebound in the sale of new and existing homes.
While this scorecard notes positive overall trends in the housing market, officials caution that more work needs to be done as the economy recovers from the Great Recession.
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WFG adds longhorn as agency sales representative
Posted Date: Monday, July 14, 2014
National Title Insurance Co. added a new agency sales representative in the company’s Midwest region. She has 17 years of experience and received her bachelor degree in business administration from the University of Texas, Austin.
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Alliant National implements data security training
Posted Date: Monday, July 14, 2014
Alliant National Title Insurance Co., an underwriter that partners with independent agents, engaged Real Estate Data Shield to provide training sessions on data privacy and security. Read on to learn more.
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Old Republic appoints new national account representative
Posted Date: Thursday, July 10, 2014
Old Republic National Title Insurance Co. announced the appointment of a national account representative to expand the company’s collateral integrity services. Read on to learn who filled the position.
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Foreclosures decrease almost 10 percent year over year
Posted Date: Thursday, July 10, 2014
CoreLogic, a global property information, analytics and data-enabled services provider, released its May National Foreclosure Report July 8, which provides data on completed U.S. foreclosures and foreclosure inventory. According to CoreLogic’s data, the foreclosure inventory has dropped precipitously over the last year. Keep reading for the report’s details.
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First American Financial to release second quarter earnings
Posted Date: Thursday, July 10, 2014
First American Financial Corp. will announce its second quarter earnings on July 24. Chief Executive Officer Dennis Gilmore said previously the spring selling season usually peaks during May and June. Keep reading to learn more.
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Interthinx reports valuation fraud risk up 27 percent from first quarter
Posted Date: Thursday, July 3, 2014
Interthinx, a subsidiary of First American Financial Corporation and a provider of comprehensive risk mitigation solutions for the financial services industry, has released its quarterly interactive Mortgage Fraud Risk Report covering data collected in the first quarter of 2014.
In the first quarter of 2014, the national Mortgage Fraud Risk Index value was 100, the same value as it was a year ago and down 1 percent from Q4 2013.
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