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Overtime rule delayed with injunction
Posted Date: Wednesday, November 23, 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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Changing the value of public information
Posted Date: Tuesday, November 22, 2016
Public information is becoming more widely available as local jurisdictions share records online. Instead of physically going to Town Hall or even using a title plant, public records are available – often at low cost.
NextAce President and CEO Don Cantral and Title Data’s Chief Operating Officer/Chief Information Officer shared their thoughts during their presentation at ATIM.
Keep reading to learn more.
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Optimize your consumer complaint process
Posted Date: Sunday, November 20, 2016
Consumers are more aware and informed shoppers for services than they’ve ever been. It’s not enough for title agents to be recommended by Realtors and lenders; they have to be aware of what consumers see online while they’re doing research.
MCP Title Services, LLC President Elizabeth Russo said commentators are starting to say to the homebuyers where you should be looking for your service provider.
Read on to learn more.
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First National Title shows strong revenue, profits
Posted Date: Tuesday, November 29, 2016
First National Title Insurance Co. (FNTI) reported its results through the first nine months of 2016, showing that as the business has grown every quarter since 2012, the trend continued in the third quarter of 2016.
“I am very pleased with the progress we are making towards expanding our independent agent revenue,” President Chris Phillips said in a news release.
Read on for details of FNTI’s report.
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A.M. Best reviews AmTrust Title
Posted Date: Tuesday, November 29, 2016
AmTrust Title Insurance Co. (ATIC) has received good reviews from credit rating agency A.M. Best. A.M. Best announced it assigned the company a Financial Strength Rating and a Long-Term Issuer Credit Rating.
AmTrust Title President Jason Gordon said the ratings confirmed the company’s status as a “stable and secure title insurance company.”
Read on for details of the ratings and to see what A.M. Best’s outlook is for the firm.
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No downgrade for Stewart ratings from Fitch
Posted Date: Sunday, November 20, 2016
Although Fitch Ratings affirmed its negative ratings outlook for Stewart Information Services Corp., the ratings agency declined to downgrade the company.
In its latest report, Fitch said it does not believe a ratings downgrade is warranted at this time as capital metrics are still within Fitch’s rating sensitivities.
Still, Fitch said it has seen signs of financial leverage deterioration. Read on for more details of what the ratings agency sees for Stewart’s performance going forward.
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Fitch affirms Fidelity National Financial ratings
Posted Date: Thursday, November 17, 2016
Fitch Ratings announced that it affirmed the Issuer Default Rating and the senior unsecured debt at Fidelity National Financial.
Fitch also affirmed the Insurer Financial Strength rating for Fidelity’s title insurance operating company.
The outlook for all the ratings examined by Fitch is stable, the company said. Read on for details of what was behind Fitch’s decisions to affirm Fidelity’s ratings.
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Investors acquires University Title Co.
Posted Date: Tuesday, November 22, 2016
Investors Title, a publicly traded title insurance company, acquired all the outstanding shares of University Title Co. in College Station, Texas.
University Title will continue to function autonomously and leadership will stay in place, the companies said in announcing the deal. Texas is one of more than 26 states Investors is operational in and 44 it is licensed in across the country. Keep reading to learn more.
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Blackstone enters title insurance industry
Posted Date: Tuesday, November 29, 2016
A subsidiary of private equity giant Blackstone Group has moved into the title insurance space, announcing the acquisition of a North Carolina-based company.
Terms of the acquisition were not announced, but the deal has closed, and it is not expected to impact daily operations or staffing across the title company’s 18 service locations.
Read on for details of the purchase, along with reaction from both sides.
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Safe Harbor Title opens new office
Posted Date: Sunday, November 20, 2016
Safe Harbor Title Co., announced the opening of its new office in Fredericksburg. Keep reading to learn more.
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Silk Abstract changes name, CEO
Posted Date: Sunday, November 20, 2016
Silk Abstract Co. has changed its name to Silk Title and Escrow LLC, has re-domesticated as a Delaware limited liability company, and has appointed a new CEO. Read on to learn more.
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NextDeal passes SOC 2, Type II audit
Posted Date: Friday, November 25, 2016
NextDeal announced it has successfully completed a Service Organization Controls (SOC) 2 Type II examination for its Hosting and Automated Marketing System. Keep reading to learn more.
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Companies launch construction title platform
Posted Date: Thursday, November 17, 2016
Granite Risk Management and Premium Title launched a new construction title platform for residential and commercial construction lenders.
The program is designed to streamline a highly fragmented process and help reduce costs, the companies said in an announcement.
Read on to learn more about how the process is expected to help orders and deliveries for lenders.
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Ellie Mae, Wells Fargo streamline workflows
Posted Date: Friday, November 25, 2016
Ellie Mae announced that joint customers of Wells Fargo Funding and Ellie Mae are actively using new technology workflows to deliver loan data in a streamlined manner.
The companies said that the process eliminates the need to download and upload loan data in multiple locations.
Read on to learn more.
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CATIC integrates RamQuest
Posted Date: Tuesday, November 22, 2016
RamQuest, Inc. announced the integration of its Closing Market digital network integration with CATIC. Read on to learn more.
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RynohLive announces integrations, grows team
Posted Date: Sunday, November 20, 2016
RynohLive, a financial security and fraud prevention software, announced integrations with E-Closing and Close IT Plus. Keep reading to learn more.
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WFG’s west names president, CTO
Posted Date: Tuesday, November 29, 2016
Working to “revolutionize the mortgage and real estate process” west, a subsidiary of Williston Financial Group, has named a president and chief technology officer, who are expected to help the company streamline and enhance the mortgage and real estate transaction. Read on to learn more about the hires and the company they will lead.
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Fannie forecasts growth despite uncertainty
Posted Date: Tuesday, November 29, 2016
In the latest Economic and Housing Outlook report from Fannie Mae’s Economic and Strategic Research Group, modest economic growth still is expected for the remainder of 2016 and 2017, despite federal administration changes that pose new uncertainties about the economy. Read on for details of the report and what Chief Economist Doug Duncan says it means for the economy and the housing industry.
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Black Knight: Foreclosure starts lowest since 2005
Posted Date: Tuesday, November 29, 2016
Black Knight Financial Services Data and Analytics Division reports that October saw the fewest number of foreclosure starts since January 2005, according to its first look at mortgage performance data used in its Mortgage Monitor. Read on for details.
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Lack of affordable inventory curbing home sales
Posted Date: Friday, November 25, 2016
First American Financial Corp.’s Potential Home Sales Model for October showed that a combination of rising employment and wages in a low mortgage rate environment are helping boost the housing market. Yet the market is underperforming its potention, in part, because of a shortage of affordable inventory for first-time homebuyers. Read on for details of the report and Chief Economist Mark Fleming’s view of the market.
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Ellie Mae: Refinances increase 47 percent
Posted Date: Tuesday, November 22, 2016
Refinances increased in October, representing 47 percent of all closed loans in the month, according to the latest Origination Insight Report released by Ellie Mae. Keep reading to learn more.
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MBA: October purchase applications increase
Posted Date: Friday, November 25, 2016
The Mortgage Bankers Association Builder Application Survey (BAS) data for October 2016 shows mortgage applications for new-home purchases increased 8 percent relative to October 2015. Keep reading to learn more.
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OCC changes some terms of Wells enforcement
Posted Date: Monday, November 21, 2016
In a follow up to Wells Fargo’s recent enforcement action from federal and state regulators, the Office of the Comptroller of the Currency informed the bank it is revoking common protections granted to banks in settlements.
The statement from OCC did not include a timetable for how long these provisions would be in place. The revisions were cited as a possible step that could be taken by the OCC in its original enforcement order.
Read on to learn more.
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Equity rich homeowners increase in third quarter
Posted Date: Sunday, November 20, 2016
ATTOM Data Solutions released its Q3 2016 U.S. Home Equity and Underwater Report. Senior Vice President Daren Blomquist said close to one in every five U.S. homeowners with a mortgage is now equity rich thanks to a combination of rising home prices and lengthening homeownership tenures. Read on to learn more.
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Fannie: ‘All systems go’ for Fed hike
Posted Date: Thursday, November 17, 2016
As the Federal Reserve has reported improvements to the economy and wages over the past three months, the expectation for an imminent rate increase continued to grow.
Just before the election, Fannie Mae released its latest view on what the Fed would do with rates, saying the latest economic data “seals the deal” for the Fed.
Read on to find out what Fannie forecasts, and when.
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Delinquencies, foreclosures decrease in survey
Posted Date: Thursday, November 17, 2016
According to the Mortgage Brokers Association, the delinquency rate in the third quarter was the lowest level since the second quarter of 2006. Keep reading to learn more.
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Housing affordability edges lower in third quarter
Posted Date: Thursday, November 17, 2016
Ongoing home price appreciation offset a small decline in mortgage interest rates to move housing affordability slightly lower in the third quarter of 2016, a new report found. Read on to learn more.
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