News By Edition

For every action there is a reaction — a scientific notion that sums up the lender/title industry dynamic in 2012. The action in question is title insurance industry defalcations and the reaction is coming from the mortgage industry in the form of more processes, more scrutiny and a few radical solutions aimed at reducing risk.

Many mortgage industry players are taking more precautions in terms of who they conduct business with, which is a reaction to industry defalcations, but also just a general

The Market Snapshot for March, brought to you by The Title Report and eLynx, shows the percentage breakdown of closings across the country. See how the seven-month trend in regional percentages subtly changed in that latest report.

First American Financial Corp. achieved its highest pretax margin (6.8 percent) since 2006 as commercial transactions continued to drive revenues, and open orders reached a three-year high. Read on for more of the details from the national underwriter’s first quarter 2012 financial report and conference call.

Old Republic International showed near break-even first quarter operating results compared with last year’s loss-burdened first and fourth quarters. 2012’s first quarter reflected greater earnings contributions by Old Republic’s general and title insurance groups, and lower operating losses from the mortgage guaranty line.

Stewart Information Services Corp. ended 2011 reporting one of its strongest quarters in years, but the momentum had not carried over to the first quarter of 2012. Stewart reported a net loss of $12.2 million for the first quarter 2012 compared with a net loss of $10.3 million in the first quarter 2011.

Fidelity National Financial Inc. reported a net earnings increase of 75 percent in its first quarter 2012 earnings release, along with several other large gains including commercial revenue, open orders, direct agency premium and more. Read on for the details.

As underwriters get set to announce the earnings numbers for the first quarter of 2012, Demotech and the American Land Title Association analyzed the year-end numbers from 2011 and noted how the industry seems to be strengthening its financial position. Read on for more from these reports.

WFG National Title of Washington, a Seattle-based subsidiary of WFG National Title Insurance Co., has named a senior account manager for its lender division who has 23 years of experience with another national underwriter. Read on for more from this announcement.

After discussing all sides of the complications that exist for both agents and underwriters in today’s world in parts one and two, former Southern Title President Eugene McCullough talks about actionable tips for agents looking to improve their standing with their current and future underwriters.

In part one, McCullough described how the industry evolved from his first days in it to his recent departure from Southern Title. All of that was precursor to the title world we inhabit today, and McCullough elaborated on how underwriters now view this world. He also elaborated on what happened in the fall of 2011 that forced his company to shut its doors.

Southern Title was one of the most respected regionals in the country, but it became the poster child for the industry’s well documented struggles with fraud and defalcation. At a recent national conference, the now former president of Southern Title gave a candid presentation of what exactly happened to his company, and what he believes are the historical failings of the industry that played an integral role in undercutting the integrity of title insurance overall.