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Market your business with education, value proposition
Posted Date: Thursday, April 23, 2015
Title agents who are looking for a renewed sales and marketing approach might find that their target audience has changed. With a heightened focus on education and knowledge in the closing process, new strategies could pay dividends for title agents. Read on to see what might be best for you.
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Aug. 1 solutions training in the Magic Kingdom
Posted Date: Monday, April 20, 2015
October Research, LLC CEO and Publisher Erica Meyer had a chance to get up close with the new Closing Disclosure forms and process at the SoftPro User Group Conference. Agents in attendance came away with a first-hand look at SoftPro and Closing Insight’s new systems, as well as some valuable information about how the closing process will look after Aug. 1. Read on for all the key insights from the conference.
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Closing Insight embraced by lenders
Posted Date: Tuesday, April 7, 2015
Prominent lenders have announced they are integrating with Closing Insight, a new technology being developed by RealEC Technologies (RealEC), a division of Black Knight Financial Services. Closing Insight is an integrated set of services that automates and streamlines the complex multi-party closing process, delivers a number of process improvements, and help lenders meet their compliance obligations with Consumer Financial Protection Bureau (CFPB) Integrated Disclosure rule.
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Demotech details title industry profitability in 2014
Posted Date: Thursday, April 16, 2015
Continuing our three-part series on the performance of the title insurance industry in 2014, this week’s analysis comes from Demotech Inc. Read on to see what their analysts believe about the strength of the industry last year and heading into 2015.
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Title insurance industry still providing opportunity
Posted Date: Monday, April 13, 2015
The title insurance industry is facing a tremendous amount of technological and regulatory changes. The Title Report asked three industry professionals if the industry still provided an opportunity to incoming professionals. Marianne Mathieu, vice president and agency business advisor for Fidelity; Amy Kelly, president and senior counsel of The Seaport Title Agency Ltd. and Jean Partridge, co-founder and a principal of Benchmark Title Agency, LLC offered their thoughts. Read on to learn more.
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CFPB enforcement highlights third-party responsibilities
Posted Date: Monday, April 20, 2015
A recent enforcement action by the Consumer Financial Protection Bureau might not have seemed that significant. But it’s what the bureau said about the responsibilities third parties had to protect consumers and stop fraud that can affect title agents. Read on to find out what the CFPB said third parties didn’t do, or should have done, in this case.
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MBA testifies on regulatory burdens to obtaining mortgage credit
Posted Date: Monday, April 20, 2015
The Mortgage Bankers Association’s David Motley testified before the U.S. Senate Committee on Bank, Housing and Urban Affairs during the hearing, “Regulatory Burdens to Obtaining Mortgage Credit.” He said although the MBA commends the bureau for many of their accomplishments, there are unintended consequences to the regulation that need to be addressed. Keep reading to learn more.
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Ellie Mae announces Encompass TRID release date
Posted Date: Tuesday, March 31, 2015
Ellie Mae will launch its RESPA–TILA integrated mortgage disclosures solution to clients as part of its Encompass mortgage management solution. President and CEO Jonathan Corr said Ellie Mae’s clients will be more than ready. Keep reading to learn more.
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Michigan lender chooses Encompass
Posted Date: Monday, April 13, 2015
As the Aug. 1 compliance date for the TILA-RESPA Integrated Disclosure rules near, more lenders are considering changing their loan origination software, meaning changes for the title agents who will need to connect to the technology to work with lenders. One regional bank in Michigan said it will make the switch to Encompass software. Read on for the details.
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Wells Fargo to accept asset report
Posted Date: Monday, April 6, 2015
A provider of automated deposit and asset verifications announced that its report will be accepted by Wells Fargo. The lender made the announced in a recent bulletin. Read on for the details.
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Senate committee discusses cybersecurity insurance
Posted Date: Monday, April 6, 2015
Chairman of the Senate Commerce Subcommittee on Consumer Protection, Product Safety, Insurance and Data Security Jerry Moran held a hearing on the value of cybersecurity insurance. Cyber insurance policies vary greatly, but increasingly, new policies are being developed to cover costs from a data breach. Keep reading to learn more.
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Encompass enhances title and closing center for RESPA-TILA
Posted Date: Wednesday, May 6, 2015
Ellie Mae made enhancements to its Encompass Title and Closing Center to help lenders comply with the upcoming RESPA-TILA integrated disclosure rule. It expanded the breadth of data and enhanced the automated workflows. Read on to learn more.
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Fidelity National Title adds new manager
Posted Date: Monday, April 20, 2015
Fidelity National Title Group promoted a new manager for its FNT and Chicago Title commercial operations in Philadelphia. Read on to learn more about him.
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Auction.com ranks the hottest major single-family housing markets
Posted Date: Monday, April 20, 2015
Auction.com, LLC released its ranking of the hottest major single-family housing markets based on current and expected future housing fundamentals. According to the report, the strongest U.S. region overall has remained the same. Read on to learn more.
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Foreclosures drop to lowest level in eight years
Posted Date: Monday, April 20, 2015
First quarter U.S. foreclosure activity dropped to its lowest quarterly level in eight years despite an increase in March. The states with the highest foreclosure rates were Florida, Maryland, Nevada, Illinois and New Jersey. Keep reading to learn more.
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Simplifile completes SOC 2 Type II audit
Posted Date: Thursday, April 16, 2015
Simplifile completed the SOC 2 Type II audit and expanded into its 60th county in Missouri. Keep reading to learn more about this company’s announcements.
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Title Alliance adds Maryland/Virginia regional director
Posted Date: Thursday, April 16, 2015
Title Alliance appointed a regional director for its Maryland and Virginia region. He will oversee the settlement staff, assure the operations are in compliance with regulatory issues as well as develop, mentor and train the office managers. Keep reading to learn more.
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House committee witnesses discuss upcoming regulatory changes
Posted Date: Thursday, April 16, 2015
The House Financial Services Committee held a hearing entitled, “Examining Regulatory Burdens on Non-Depository Financial Institutions.” Among the witnesses was the American Land Title Association’s President Diane Evans NTP. Read on to learn more about the hearing.
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Real estate activity steady to improving, says Beige Book
Posted Date: Thursday, April 16, 2015
Residential real estate activity was steady to improving across most districts, according to the April 15 Beige Book released by the Board of Governors of the Federal Reserve System. Multifamily construction remains strong and there was improvement in loan demand. Keep reading to see what the Beige Book has to say about the housing and banking industries.
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Exclusive: Closing Insight opens settlement agent registration
Posted Date: Wednesday, April 15, 2015
In an exclusive announcement made through October Research, LLC, RealEC Technologies announced that it has open settlement agent registration for Closing Insight.
The loan origination software platform will connect agents with lenders such as Bank of America and Wells Fargo. All agents will be provided the opportunity to register before Aug. 1, although there will be different ways to access the program.
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Brady & Kosofsky earns SSAE 16 SOC 2 Type 1 certification
Posted Date: Tuesday, April 14, 2015
Brady & Kosofsky, PA successfully completed a SSAE 16 SOC 2 Type 1 audit certification. The certification included the company's controls related, among other things, to the Trust Services Principles and Criteria of Security and Availability. Read on to learn more.
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House payments more affordable than fair market rents in many markets
Posted Date: Tuesday, April 14, 2015
RealtyTrac’s Residential Rental Property Analysis found that monthly house payments on median-priced homes are more affordable than the monthly fair market rent on a three-bedroom property in 76 percent of the U.S. counties included in the analysis. Keep reading to learn more.
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February 2015 foreclosures down 67 percent from 2010 peak
Posted Date: Tuesday, April 14, 2015
CoreLogic released its February 2015 National Foreclosure Report. It shows that the foreclosure inventory declined by 27.3 percent, and completed foreclosures declined by 15.7 percent from February 2014. Keep reading to learn more.
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LandAmerica settles retirement plan dispute
Posted Date: Tuesday, April 14, 2015
After LandAmerica Financial Group and its 1031 exchange subsidiary filed for bankruptcy in 2008, employees filed suit under the Employee Retirement Income Security Act, alleging several of the company’s directors and officers violated their fiduciary duties by allowing investment of LandAmerica Financial Group Employee Savings and Stock Ownership Plan assets in LandAmerica stock when they knew those investments would lose money. After a lengthy court process and settlement negotiations, the parties have reached a settlement.
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RedVision staffs leadership positions
Posted Date: Tuesday, April 7, 2015
RedVision named two people to top sales and operations leadership positions. The new appointments will support business growth and operation excellence. Keep reading to learn more.
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Alliant National names new SVP
Posted Date: Tuesday, April 7, 2015
Alliant National Title Insurance Co. named a new senior vice president and regional underwriting counsel. He will offer customizable solutions and education on the nuances within specific regional markets. Read on to learn more.
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Independent mortgage banking profits down, costs up in Q4
Posted Date: Tuesday, April 7, 2015
Richey May & Co. released its fourth quarter 2014 Trend Report for Independent Mortgage Bankers. It includes the operating results of more than 40 independent mortgage companies covering all operating models and production volumes. Read on to learn more.
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Florida Agency Network names new COO
Posted Date: Tuesday, April 7, 2015
The Florida Agency Network has named a new chief operating officer. He is charged with growing the company’s statewide footprint. Read on to learn more about the new executive.
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eNotarizations key to process, but adoption is uneven
Posted Date: Tuesday, April 7, 2015
eNotarizations have been said to be the key to the eClosing process. In order to have an entirely electronic transaction, it is necessary, but without a national standard in place the adoption needed to propel eClosings has been uneven. The Title Report spoke with several experts about this part of electronic process.
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