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NAILTA names new president, board
Posted Date: Wednesday, January 4, 2017
The National Association of Independent Land Title Agents (NAILTA) named General Title Insurance Co.’s Rob Holman as its fifth president.
He told The Title Report about his agenda for his two-year term.
Read on to learn what you can expect from this independent land title agent organization.
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Searching for the future of title companies
Posted Date: Tuesday, December 27, 2016
Finding and keeping new blood in the title insurance industry can be a challenge.
H.B. Wilkinson Title Co. President Dan Mennenoh and Holler Law Firm Managing Attorney George Holler shared their methods for success.
Read on to learn more.
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Benefits of an educated homebuyer
Posted Date: Thursday, December 8, 2016
Homebuyers might not understand what title insurance is, but they want to and they want to know early in the transaction.
The benefits of an informed consumer are numerous, according to Joe Grabas, Elizabeth Wysong-Berg and Lynn Hightower-Moore.
Keep reading to learn more.
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Fidelity to relinquish control of Black Knight
Posted Date: Friday, December 9, 2016
In a surprising move being met by positive reaction from analysts, Fidelity National Financial announced that it would move to allow Black Knight Financial Services and FNFV Group to operate as fully independent companies.
The plan would have Fidelity distribute all 83.3 million shares of its stock in Black Knight – amounting to about a 54 percent share in the company – to shareholders of FNF Group and strip Fidelity of its controlling interest in Black Knight.
What’s behind the move, and why have analysts cheered the plan? Read on for the details.
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A.M. Best upgrades credit ratings of CATIC
Posted Date: Sunday, December 11, 2016
A.M. Best has upgraded the Financial Strength Rating of Connecticut Attorneys Title Insurance Co.
The move reflected a “favorable risk-adjusted capitalization” at the company, A.M. Best said, and included a revision of the company’s outlook.
The underwriter also announced the opening of a new office in Portland, Maine. Keep reading to learn more.
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Title expansion in Nebraska continues
Posted Date: Sunday, December 18, 2016
A title company announced that it has expanded its services in Nebraska through a recent acquisition.
The company will now have nine offices serving the state, providing full title and escrow closing services, along with other services. “Combining the legacy, expertise and experience of the two companies will help serve the Kearney area and the state of Nebraska well into the future,” Nebraska Title President Jennifer Strand said.
Read on for details of the acquisition and reaction from both parties.
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Pioneer Title Agency opens two new offices
Posted Date: Tuesday, December 13, 2016
Pioneer Title Agency announced that it has opened two new location. The company, which has been in business for more than 30 years, now has 56 offices in operation.
The two new offices will add nine employees to the more than 450-member team at Pioneer Title Agency.
Read on for more details about the additions and the history of the company.
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Minnesota title firm expands
Posted Date: Tuesday, December 6, 2016
A title company in Minnesota announced that it expanded into a second office, to cover a second county in the state.
Owner Jana Elton’s announcement comes along with a name change to the firm, which took effect Aug. 1. Read on for more details about the company’s expansion efforts.
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Silk Title and Escrow opens operations center
Posted Date: Tuesday, December 13, 2016
Silk Title and Escrow LLC announced the opening of an Operations Center in Rhode Island.
Silk Chairman Lance Silver said Rhode Island is a very strong market for title and settlement personnel. The company said the move is a continuation of its increase in market share, which has seen business grow by more than 500 percent in the last year alone.
Keep reading to learn more about the company and its new center.
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loanDepot announces acquisition
Posted Date: Thursday, December 1, 2016
loanDepot has completed the acquisition of one national title, escrow and settlement company and it has entered into a definitive agreement to acquire its affiliate.
The affiliate transaction is expected to close in the second quarter of 2017, pending regulatory approval.
Keep reading to learn more about loanDepot’s plans.
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FICO offers cybersecurity effectiveness
Posted Date: Thursday, December 8, 2016
Silicon Valley analytics firm FICO is offering an Enterprise Security Score to compete in the marketplace and better identify security risks across the supply chain. Keep reading to learn more.
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DOL overtime rule can’t be repealed
Posted Date: Tuesday, December 20, 2016
The future of the Department of Labor’s overtime rule appears to be in the hands of the Fifth Circuit Court of Appeals, following an analysis by The Title Report which reveals that the rule will not be subject to repeal through the Congressional Review Act (CRA).
Although opponents of the rule have suggested for weeks that it would be subject to repeal under CRA, research by The Title Report shows that will not be possible. However, the appellate court has agreed to an expedited review of the injunction in the case.
How will that affect the overtime rule? And what's the next step in the court process for the case? Read on for the details.
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Fed announces second rate hike in decade
Posted Date: Thursday, December 15, 2016
The Federal Open Market Committee announced its decision to raise the target range for the federal funds rate from .5 percent to .75 percent
It’s just the second time in the past 10 years the Federal Reserve has raised the benchmark rate.
Keep reading to learn more.
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Massachusetts announces its first full eClosing
Posted Date: Thursday, December 8, 2016
In October Massachusetts experienced its first fully electronic eClosing, ushering in a new era of customer convenience and operational efficiency to the mortgage process.
The eClosing was executed with partners DocMagic, Inc., radius financial group Inc., and World Wide Notary for eNotarization. Creed & Formica's Jeff Forimca was the title agent present.
Keep reading to learn more.
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Equity National Title, Mid America complete Closings
Posted Date: Thursday, December 8, 2016
Equity National Title recently collaborated with Mid America Mortgage to conduct three eClosings.
The eClosing process, which did accommodate the wet-signing of certain documents before a notary as required by state law, allowed the homebuyers to review all pertinent closing forms online before the closing.
Keep reading to learn more from both parties, as well as a first-time homebuyer who participated in the process.
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Freddie Mac approves six for eMortgages
Posted Date: Thursday, December 1, 2016
Six companies have been granted full or provisional approval by Freddie Mac to conduct eMortgages and handle eNotes, the agency announced. Freddie Mac has been purchasing eMortgages since 2005, and the companies it listed meet the agency’s requirements for creating, signing and storing eNotes.
Read on for more details about the companies.
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SoftPro to partner with Ellie Mae
Posted Date: Sunday, December 18, 2016
SoftPro will partner with Ellie Mae to integrate its title, closing and escrow software with Ellie Mae’s Encompass. Keep reading to learn more.
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Stewart names chief operating officer
Posted Date: Tuesday, December 13, 2016
Stewart named a new chief operating officer to oversee all business operations.
The position is a new addition to the company’s roster of executive officers, and CEO Matt Morris said his experience will make him a vital member of the team.
Read on to learn more about the new addition and his background.
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Fidelity National Title Group names vice president
Posted Date: Thursday, December 22, 2016
Fidelity National Title Group (FNTG) New York Agency recently appointed a familiar face to the position of vice president of national agency accounts. Read on to learn more.
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First American economist: Rates to cool forecast
Posted Date: Tuesday, December 20, 2016
First American Financial Corp. Chief Economist Mark Fleming said the results from the firm’s latest Potential Home Sales model reveal insight into the housing market for 2017.
The recent rise in mortgage rates after the election and the increase in the federal-funds rate by the Federal Reserve are likely to cool home sales next year, Fleming said.
Read on to find out how the market could look as 2017 begins.
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Berkshire Hathaway: Interest rates on the minds of consumers
Posted Date: Tuesday, December 20, 2016
Current and prospective homeowners remain optimistic about the state of the real estate market, yet they expressed concern over the prospects of rising interest rates in Berkshire Hathaway HomeServices’ latest Homeowner Sentiment Survey. Read on to learn more.
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Title premiums on pace for best year in a decade
Posted Date: Tuesday, December 20, 2016
The third quarter of 2016 was another positive quarter for the title insurance industry according to ALTA. Title insurance premiums written were up 7.4 percent.
Through the first nine months of 2016, the industry has rolled up $10.37 billion in title insurance premiums written, up 7.2 percent from the first nine months of 2015.
That's the strongest performance for the industry since at least 2007, and puts the title industry on pace for its best year in at least a decade. Keep reading to learn more about the data.
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Wells newsletter talks electronic title delivery, PHH case
Posted Date: Monday, December 19, 2016
In its quarterly newsletter to title and settlement agents, Wells Fargo took the opportunity to address a number of noteworthy areas. Included in the newsletter is RESPA guidance in light of the recent PHH Corp. v. CFPB case, information on the electronic delivery of a title policy, and an update on integration with Closing Insight. Read on for the details.
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CFPB credit trends tool tracks industries online
Posted Date: Sunday, December 18, 2016
The Consumer Financial Protection Bureau (CFPB) unveiled Consumer Credit Trends, a web-based tool to help the public monitor developments in consumer lending and forecast potential future risks.
The beta version of the tool covers the mortgage, credit card, auto loan, and student loan markets.
Read on to learn more.
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WFG adds to Southeastern agency team
Posted Date: Sunday, December 18, 2016
WFG National Title Insurance Co. named an assistant manager/Georgia underwriting counsel. Read on to learn more.
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NFIB: Small business optimism soars post-election
Posted Date: Sunday, December 18, 2016
Small business optimism remained flat leading up to Election Day, then rocketed higher as business owners expected much better conditions under new leadership in Washington, according to a special edition of the monthly NFIB Index of Small Business Optimism. Read on to learn more.
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Fitch: Banks to benefit from rate increase
Posted Date: Sunday, December 18, 2016
Most banks are projected to benefit from interest rate hike announced by Federal Open Market Committee Dec. 15, according to the latest North American Financial Institutions Chart of the Month from Fitch Ratings.
However, this December’s rate hike alone will likely not be sufficient to boost earnings materially, Fitch said.
Keep reading to learn more from the company’s latest report.
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Fitch says FNF, Black Knight restructuring won’t affect ratings
Posted Date: Thursday, December 15, 2016
In response to Fidelity National Financial’s announcement to allow Black Knight Financial Services and FNFV Group to operate as fully independent companies, Fitch Ratings placed FNF’s Long-term Issuer Default Rating and senior unsecured debt rating on Rating Watch Positive.
Fitch did not take action on FNF’s title insurance operating company financial strength rating.
Read on to learn more about the ratings agency’s reaction to the news.
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Small business optimism at high point
Posted Date: Thursday, December 15, 2016
Small-business owners are the most optimistic they have been since January 2008, according to the latest Wells Fargo/Gallup Small Business Index. Read on to learn more.
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Study shows real estate leaders’ outlook for housing
Posted Date: Tuesday, December 13, 2016
Top real estate executives’ confidence in the U.S. economy and housing market for 2017 has softened compared to two years, according to the latest Imprev Thought Leader Real Estate Confidence study. Read on to learn more.
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WFG’s Patrick Stone shares economic perspective
Posted Date: Sunday, December 11, 2016
During the annual Association for Title Information Management (ATIM) Conference, WFG Chairman and CEO Patrick Stone shared his perspective on the economy and the coming year.
He said this is the first year the United States has a higher Gross Domestic Product (GDP) than the European Union, since 2003.
Keep reading to learn more.
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Attorneys’ Title Guaranty Fund, Inc. Maintains “A’ Unsurpassed” Rating
Posted Date: Sunday, December 11, 2016
Attorneys’ Title Guaranty Fund, Inc. maintained a Financial Stability Rating of A’ (A Prime), Unsurpassed, for 21 consecutive years dating to 1995.
Demotech’s ratings summarize its opinion as to an insurer's ability to insulate itself from the business cycle that exists in the general economy as well as the underwriting cycle that exists in the insurance industry.
ATG President and CEO Peter Birnbaum said he is proud of the rating. Read on to learn more.
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WFG National adds underwriting counsel
Posted Date: Sunday, December 11, 2016
WFG National Title Insurance Co. named an underwriting counsel for the states of Illinois and Indiana in its Midwest Agency group. Keep reading to learn more.
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Home flipping activity decreases
Posted Date: Sunday, December 11, 2016
ATTOM Data Solutions released its Q3 2016 U.S. Home Flipping Report, showing a total of 45,718 single family home and condo sales were flips in the third quarter of 2016, representing 5.1 percent of all single family and condo sales during the quarter. Read on to learn more.
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Home Purchase Sentiment Index decreases in November
Posted Date: Sunday, December 11, 2016
The share of consumers expecting mortgage rates to go down over the next year and those who believe now is a good time to sell a home both fell according to the Fannie Mae Home Purchase Sentiment Index. Read on to learn more.
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Homebuyers flocking to mobile mortgage resources
Posted Date: Thursday, December 8, 2016
The Fannie Mae Economic and Strategic Research Group released a new National Housing Survey, which found there is strong interest in the use of mobile technology in the consumer mortgage process. Read on to learn more.
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Fitch releases 2017 title insurance industry outlook
Posted Date: Tuesday, December 6, 2016
Fitch Ratings maintains its stable rating outlook on the title insurance industry, according to its 2017 Outlook report.
The outlook reflects a belief that rating actions for the industry will on balance approximate current levels over the next 12-24 months, as financial performance is stable and capital levels remain strong based on several measures. Keep reading to learn more.
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Demotech reviews underwriter performance
Posted Date: Tuesday, December 6, 2016
Title underwriters collectively improved their overall financial stability through third quarter 2016, according to Demotech.
Demotech found that underwriters have remained “vigilant in achieving overall profitability” in the first nine months of 2016, with direct premiums written up more than 7 percent from a year ago.
The agency upgraded one underwriter as well. Read on to learn more from its report.
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Rate spikes push millions off refi eligibility rolls
Posted Date: Tuesday, December 6, 2016
As mortgage rates jumped nearly a half-point in the weeks following the election, the population of refinanceable borrowers cut by more than half, according to Black Knight Financial Services’ latest Mortgage Monitor Report. Read on to learn more.
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New residential sales up in October
Posted Date: Tuesday, December 6, 2016
The Department of Housing and Urban Development and the Census Bureau released its latest report on sales of new single-family houses in October 2016. Read on to learn more.
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Department of Labor appeals injunction
Posted Date: Friday, December 2, 2016
A nationwide temporary injunction has been put in place by the United States District Court Eastern District of Texas’ Judge Mazzant. The final rule was determined unlawful because of the minimum salary requirement. Keep reading to learn more.
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Beige Book: Economy expands across most regions
Posted Date: Thursday, December 1, 2016
The Federal Reserve reported economic growth from nearly all of its 12 Districts in its latest Beige Book report. The report covers time from early October through mid-November.
In the report, the New York District reported flat economic activity since the last report, while the remaining 11 Districts reported various levels of overall growth.
Read on for details of the economic conditions from the Districts, along with a look at housing and banking conditions across the country.
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Refinances up 16 percent in quarter
Posted Date: Thursday, December 1, 2016
ATTOM Data Solutions released its Q3 2016 U.S. Residential Property Loan Origination Report, showing more than 1.9 million loans were originated on U.S. residential properties in the third quarter of 2016. Keep reading to learn more.
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Ten-X Nowcast: November home sales to decrease
Posted Date: Thursday, December 1, 2016
Ten-X released its latest Ten-X Residential Real Estate Nowcast, which indicates a slight decrease in November existing home sales. Read on to learn more.
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New residential sales up in October
Posted Date: Thursday, December 1, 2016
The Department of Housing and Urban Development and the Census Bureau released its latest report on sales of new single-family houses in October 2016. Read on to learn more.
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