Industry News

WFG National Title Insurance Co. has added a new member to its compliance and audit departments. The new hire will be senior vice president, senior auditor. Read on to find out more about the new face at WFG.

Computer hacking has become a lucrative profession and title agents are easy targets. They hold millions of dollars for consumers and lenders and have very few protections for their networks. For this reason, there are many tools out there designed to help agents protect the funds, and personal information, they are given every day, placing a fortress around their networks. Because of the potential risks, regulators are telling lenders to ensure that the third-parties they use for settlements have robust...

The new mortgage disclosure forms and rule are out and the title industry members are sharing their views on the forms. Read on to find out what they have to say.

The New Year is approaching. Are you ready for 2014’s regulatory environment? The legal publications at October Research, LLC have teamed up to host a 90-minute federal regulatory outlook webinar for mortgage, title insurance and settlement services professionals. Regulatory Outlook 2014: Compliance, Enforcement and Pressure Points airs Tuesday, Dec. 10 at 2 p.m. ET. This in-depth training features two top compliance attorneys who will educate participants on significant regulations impacting the industr...

The Title/Appraisal Vendor Management Association announced on its website that it is ceasing operations.

Bulletins by the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency have made lenders responsible for the actions of their third-party providers. Lenders, in turn, will start to place more requirements on the shoulders of their title providers. Technology can assist title companies in assuring accuracy and transparency in their work product while also helping them grow.

Real Estate Data Shield announced its strategic partnership with Security Compliance Associates. This will enable Real Estate Data Shield to offer on-site security assessments and ALTA Best Practice Pillar No. 3 certifications.

After consumer groups urged Congress to oppose a bill that would amend the definition of points and fees under the Truth in Lending Act, the American Land Title Association sent legislators a letter pointing out inaccuracies in the consumer groups’ letter regarding title insurance. One of the allegations was that consumers cannot shop for title insurance, which ALTA argued was not true and a violation of RESPA.

The National Association of Independent Land Title Agents gathered in New Orleans at the historical Hotel Monteleone for the group's Sixth Annual National Conference. The Legal Description’s sister publication, The Title Report was on site and brought back some highlights of the conference.

The Pennsylvania Land Title Association’s (PLTA) recent survey indicates professionals involved in real estate transactions in Pennsylvania want a change to the current property tax clearance process. Determining the payment status of property tax payments -- typically referred to as a “tax certification” – is needed on a timely basis for real estate transactions to determine outstanding amounts and to satisfy or prorate them at the closing table.