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The Title Report Print Edition
April 8, 2013
In this edition of The Title Report, we feature an idea we initially touched on in our Game of Agent Vetting feature months back – a national title agent database. While the idea may have seemed abstract or far-fetched initially, there have been many behind-the-scenes conversations about its creation and potential implementation. We report on one of these discussions that took place at the ALTA Business Strategies Conference. Also in the edition we have the latest title premium data, an update on the latest affiliated company regulatory battle and a contributed column about title agent technology. |
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 National agent database: Is it the solution lenders, agents need?
Posted Date: Monday, April 08, 2013
As we reported in our coverage from the American Land Title Business
Strategies Conference, the lending industry is highly concerned about
new regulation and, by extension, the settlement agents closing their
transactions and issuing title policies.
That issue was under
discussion in several other panels at the conference as well, including
one about the potential of implementing a national agent database —
essentially a source to pool existing information about settlement
agents and title underwri
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Purchase applications up more than four percent than last year
Posted Date: Thursday, April 04, 2013
Mortgage applications decreased 4 percent from one week earlier,
according to data from the Mortgage Bankers Association’s Weekly
Mortgage Applications Survey for the week ending March 29, 2013. Despite
the overall dip, the purchase index increased slightly again, and
remains strong when compared year over year.
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Stewart adds business development officer in Minnesota
Posted Date: Tuesday, April 02, 2013
Stewart Title Co. announced the addition of a business development
officer for its Minnesota division. This person will be responsible for
developing new customers and accounts in the Minneapolis-St. Paul metro
area.
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FNF CEO talks bull market, product mix at JPMorgan conference
Posted Date: Friday, March 29, 2013
Fidelity National Financial’s chief executive officer presented at the JPMorgan 2013 Insurance Conference, sharing with analysts his thoughts on the potential for a bull market in real estate, a shift in the product mix that could continue to improve FNF’s title segment numbers, and how the title group has tracked the market to produce industry leading profit margins. Read on for insight into the company’s approach to the vagaries of the real estate market.
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Four facing mortgage conspiracy charges in Pa.
Posted Date: Friday, March 29, 2013
Four Pennsylvania residents, including an attorney who provided closing and settlement services, have been indicted on charges of conspiracy, wire fraud, bank fraud, filing false tax returns and failing to file tax returns connected to a mortgage fraud scheme officials say involved hundreds of properties. Several people have already pleaded guilty in the case, including an attorney and his assistant who allegedly prepared false settlement statements. Read on for the details.
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First Am names Oman to board of directors
Posted Date: Friday, March 29, 2013
First American Financial Corp. announced that Mark Oman has been appointed to the company's board of directors. Read on to learn more about the appointment.
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Stewart Title of California names new division president
Posted Date: Friday, March 29, 2013
Stewart Title of California Inc. announced the appointment of Charlie Marinelli as division president of Stewart Title Northern California – North Bay Region. Read on for more about his assignment.
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NAHB calls for action on housing finance reform
Posted Date: Friday, March 29, 2013
The National Association of Home Builders called on Congress this week to move forward on bipartisan housing finance reform to ensure that affordable housing credit can be delivered through a competitive, efficient, sound and stable system that maintains the crucial element of a federal backstop for the mortgage market.
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Pending home sales flat, mortgage apps up
Posted Date: Friday, March 29, 2013
The National Association of Realtors announced that February pending home sales flattened, citing shrinking inventory, but noted that the numbers are at the second highest level in nearly three years. Meanwhile, the Mortgage Bankers Association reported mortgage applications were up for the week ending March 22. Read on for the stats.
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Foreclosures increase as courts work through backlog
Posted Date: Friday, March 29, 2013
RealtyTrac released its first-ever U.S. Foreclosure Inventory Analysis, which shows nearly 1.5 million U.S. properties were actively in the foreclosure process or bank-owned in the first quarter of 2013, up 9 percent from the first quarter of 2012 but still down 32 percent from the peak of 2.2 million in December 2010. Read on for the stats.
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Title technology a necessity, not an option, for agents
Posted Date: Wednesday, March 27, 2013
Settlement technology can be expensive for independent title businesses — but it’s necessary. While it’s true that title agents don’t have a lot of extra cash to throw around, the demand for efficiency in today’s market — along with other client needs — make it imperative that agents invest in technology in ways that keep them in the game. In this article, Jim Hollerbach provides several key points for consideration when addressing technology upgrades.
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Robust existing-home sales feed recovery optimism
Posted Date: Wednesday, March 27, 2013
February existing-home sales and prices affirm a healthy recovery is underway in the housing sector, according to the National Association of Realtors. Sales have been above year-ago levels for 20 consecutive months, while prices show 12 consecutive months of year-over-year price increases. Read on for a look at the regional numbers.
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Realogy announces further debt retirement
Posted Date: Wednesday, March 27, 2013
Realogy Holdings Corp. a real estate franchising company and provider of real estate brokerage, relocation and settlement services, announced further debt retirement and the redemption of 12 percent senior notes. Read on for the details.
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Joe Casa Awards nomination deadline this week
Posted Date: Wednesday, March 27, 2013
October Research, LLC, announced that the deadline for the prestigious Joe Casa Awards nominations is March 31. Real estate, mortgage and settlement services professionals are invited to nominate colleagues for awards in leadership, innovation or philanthropy.
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LPS reports continued decline in delinquency, foreclosure rates
Posted Date: Wednesday, March 27, 2013
Lender Processing Services Inc., a provider of integrated technology, data and analytics to the mortgage and real estate industries, reported this week that delinquency and foreclosure rates continue to decline across the U.S. Read on for the stats.
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Pa. attorney’s license suspended for title policy fraud
Posted Date: Wednesday, March 27, 2013
The Supreme Court of Pennsylvania suspended the license of an attorney who was charged with violating the rules of professional conduct for allegedly collecting $88,000 for title insurance policies after being terminated as an issuing agent. Read on for the details.
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Saad & Kraus name new associate
Posted Date: Wednesday, March 27, 2013
Saad & Kraus, PL, a Naples-Fla.-based law firm focusing on real estate and business law, announced the addition of Stephen Peterson to its staff.
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SmartGFE integrated into Cogent Road workflow management system
Posted Date: Friday, March 22, 2013
Cogent Road, a provider of cloud-based mortgage technologies, announced
the integration of its Roohmz Enterprise Loan Production System with the
SmartGFE service from ClosingCorp. The Roohmz workflow management
system provides its users with a dual purpose integration of the
SmartGFE.
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RealtyTrac adds real estate veteran to network team
Posted Date: Friday, March 22, 2013
RealtyTrac announced that a real estate industry veteran joined the
company as senior vice president of the RealtyTrac Network. She will
spearhead the overall expansion of the licensed network that is now
available to leading independent and franchised brokerage companies
across the nation.
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Cobalt Data Centers announces new audit standards
Posted Date: Friday, March 22, 2013
Cobalt Data Centers, a provider of high density colocation and virtual
data center solutions, announced the completion of both a SOC 1 (SSAE
16) Type I audit and a SOC 2 Type I audit. Read on for more information
about those certifications and Cobalt Data Centers.
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CFPB foreclosure rules spur latest end-to-end service from Indecomm
Posted Date: Friday, March 22, 2013
Indecomm Global Services is launching a new Foreclosure Assignment
Services Solution. This new end-to-end solution encompasses the
creation, execution, recording and tracking of foreclosure assignments
as well as the verification of the title on the property.
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Affiliated title fee battle: Title, mortgage industries weigh in
Posted Date: Friday, March 22, 2013
The title and mortgage industries are both watching the definition of
points and fees within the Qualified Mortgage rule as the final outcome
could alter affiliated settlement relationships going forward. We have
the latest commentary from the MBA and NAILTA regarding a new bill that
looks to alter the current definition, and we ask all of you for your
thoughts on the matter and predictions for the future.
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Improving housing markets index rises to 274 in March
Posted Date: Friday, March 22, 2013
The list of improving U.S. housing markets expanded for a seventh
consecutive month in March to include 274 metros on the National
Association of Home Builders/First American Improving Markets Index.
This total amounts to a net gain of 15 markets since February and
includes entrants from all 50 states and the District of Columbia.
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Valbridge Property Advisors bursts onto scene with 42 appraisal firms
Posted Date: Thursday, March 21, 2013
Forty-two appraisal firms across the United States announced that they
are now operating as Valbridge Property Advisors, having combined to
provide independent valuation and advisory services to local, regional,
multi-market and national clients. The 42 firms are independent
valuation leaders in their local markets, some having been in business
for decades or more.
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Mortgage applications decrease, numbers still up from last year
Posted Date: Thursday, March 21, 2013
Mortgage applications decreased 7.1 percent from one week earlier,
according to data from the Mortgage Bankers Association’s Weekly
Mortgage Applications Survey for the week ending March 15. Read on for
more details from the report.
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Title premium up 21 percent in 2012, slight market share moves
Posted Date: Thursday, March 21, 2013
If the earnings reports from the top national underwriters weren’t
enough, the American Land Title Association has reported that title
insurance premiums written during 2012 were up big compared to the
previous year. Interestingly, as the premiums shot up, the market share
gains were mostly seen at the regional underwriter level. Take a look at
the 2012 numbers.
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SharperLending, Equifax partner on new mortgage fraud prevention tool
Posted Date: Thursday, March 21, 2013
Mortgage technology provider SharperLending LLC announced the
availability of a new mortgage fraud identification and prevention tool
for lenders. The new Undisclosed Debt Monitoring service is powered by a
data integration with Equifax, a consumer, commercial and workforce
information solutions provider.
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Utah title owner pleads guilty to fraud charges
Posted Date: Thursday, March 21, 2013
A former title company owner in Utah decided to skip the trial and
pleaded guilty to charges of theft and communications fraud used to
embezzle clients’ funds, according to local reports. Sentencing is now
set for April 24.
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CoreLogic data shows positive equity uptick in housing market
Posted Date: Tuesday, March 19, 2013
CoreLogic, a provider of information, analytics and business services,
released new analysis showing approximately 200,000 more residential
properties returned to a state of positive equity during the fourth
quarter of 2012. This brings the total number of properties that moved
from negative to positive equity in 2012 to 1.7 million and the number
of mortgaged residential properties with equity to 38.1 million.
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Emerald Coast Title Services opens second location
Posted Date: Tuesday, March 19, 2013
Emerald Coast Title Services Inc., located in Destin, Fla., announced an
expansion into a second office location to better serve the growing
demands of the market.
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First National Title adds VP, underwriting counsel
Posted Date: Tuesday, March 19, 2013
First National Title Insurance Co. announced the addition of a vice
president & underwriting counsel to its staff. This latest addition
to growing FNTI brings more than 35 years of title industry experience.
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Arrow Title Agency opens new branch, hires VP of operations
Posted Date: Tuesday, March 19, 2013
Ohio-based Arrow Title Agency recently opened its newest branch location
in Martins Ferry, Ohio. Arrow now has six Ohio offices and one Kentucky
office. The company has been open since 2005 and is capable of handling
transactions in 24 states.
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Overall homebuilder confidence starts to waver
Posted Date: Tuesday, March 19, 2013
On the cusp of the spring buying season, homebuilder confidence shows it
is wavering after several months of steady climbing. Builder confidence
in the market for newly built, single-family homes paused for a third
consecutive month in March, with a two-point reduction to 44 on the
National Association of Home Builders/Wells Fargo Housing Market Index.
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Webinar to explain revenue opportunity for agents
Posted Date: Monday, March 18, 2013
Jill Marshall, president of Columbia Title Inc., announced a free
webinar describing a potential profit center for title insurance agents. The webinars, scheduled for Tuesday, March 26, 2:00 - 3:00 PM (EDT) or
Thursday, March 28, 2:00 - 3:00 PM (EDT), will feature Jim Harvin, with
JLH Associates, explaining how agents can create a new profit center by
developing a term life insurance referral plan within their agency
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Foreclosures tick up in February, regional flare-ups concerning
Posted Date: Monday, March 18, 2013
Foreclosure filings were reported on 154,281 U.S. properties in
February, an increase of 2 percent from the previous month but still
down 25 percent from February 2012, according to the RealtyTrac U.S.
Foreclosure Market Report for February 2013.
The report also shows one in every 849 U.S. housing units with a foreclosure filing during the month.
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Adeptive announces ResWare integration with A.S.K. Services
Posted Date: Monday, March 18, 2013
Adeptive announced that A.S.K. Services Inc., a Midwestern title search
firm, is now integrated with ResWare. Clients of ResWare may now place
orders with A.S.K. and receive search results directly back into
ResWare, customized to the requirements of their title production
process, saving time, effort and cost, the company said.
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Builders say compliance costs dragging down housing recovery
Posted Date: Monday, March 18, 2013
Testifying before Congress last week, the National Association of Home
Builders (NAHB) said federal agencies are circumventing the intent and
the letter of a law to make the regulatory process more cost effective
and less burdensome for small businesses. As a result, the regulatory
process continues to unnecessarily increase compliance costs and is
acting as a drag on the housing and economic recovery.
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Alaska expands number of e-recording counties
Posted Date: Monday, March 18, 2013
Alaska continues its efforts to adopt electronic recording statewide,
adding three new recording districts that have been enabled for
e-recording. With the addition of Ketchikan, Petersburg and Wrangell
recording districts, more than half of Alaska is accepting electronic
documents through Simplifile, the nation’s largest e-recording service
provider.
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With spring buying season getting under way, how is the purchase side of your business looking this year? Your Comments:
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