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The sun will come out post-TRID
Posted Date: Monday, June 29, 2015
Whether it’s Aug. 1 or Oct. 3, life will go on post-TRID implementation, according to a National Settlement Services Summit (NS3) panel of underwriters featuring Westcor, Old Republic Title, First American Title Insurance Co., Alliant National Title and Stewart Information Services. Westcor President and CEO Mary O’Donnell said bankers will still get up and go to banks, and Realtors will still take people to see homes. Read on to learn more.
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Black Knight updates Empower LOS system in preparation for TRID
Posted Date: Tuesday, June 30, 2015
Empower version 5.1.4 will enable clients to perform production-level testing of the capabilities designed to support the TRID rule. As testing of the latest version is finalized, Black Knight may release additional version of the LOS in the coming months. Keep reading to learn more.
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Regulator forum offers real answers to ‘sensitive’, ‘good-faith efforts’
Posted Date: Thursday, June 25, 2015
The effective date for the TILA-RESPA Integrated Disclosure (TRID) rules might have changed, but the enforcement after it takes effect has not. In an open forum with regulators at the National Settlement Services Summit (NS3), panelists discussed what it means for the Consumer Financial Protection Bureau to be “sensitive” to “good-faith efforts” for TRID compliance. Read on to find out what you will need to do to follow the straight and narrow once TRID takes effect.
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eClosings inching closer to reality
Posted Date: Thursday, June 25, 2015
eClosings are becoming a reality around the country. During the 2015 National Settlement Services Summit, three panelists shared their experiences and observations with the technology. Read on to see what they had to say.
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Three title companies align to create TitleConnect Alliance
Posted Date: Monday, June 22, 2015
Three Washington D.C.-based title companies aligned to create the TitleConnect Alliance. With 18 offices spread across Maryland, Virginia and Washington D.C., the companies said they can better service their clients by utilizing any closing location within the network. Read on to learn more.
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STRATMOR survey questions TRID preparations
Posted Date: Tuesday, June 23, 2015
STRATMOR Group announced the results of a recent PeerViews Survey on the industry’s readiness to comply with the CFPB’s TRID rule. According to the survey, lenders would not have been ready to comply with the Aug. 1 deadline. Keep reading to learn more.
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Placer Title and sister companies set for regulations
Posted Date: Tuesday, June 23, 2015
Randy Bradley, executive vice president and board member of Mother Lode Holdings Co. sat down with The Title Report to discuss industry regulations. He said despite varying state laws and the CFPB his team will be ready to implement TRID. Keep reading to learn more.
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Safe Title merges into Lighthouse Group
Posted Date: Thursday, June 18, 2015
Lighthouse Group strengthened its marketshare and expertise in West Michigan with its merger with Safe Title and its six locations in Holland, Grand Haven, Muskegon, Manistee, Grandville and Grand Rapids. Both have taken agencies from one office to multiple locations in more than a decade. Keep reading to learn more.
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NAIC advances cybersecurity principles
Posted Date: Monday, June 22, 2015
The NAIC is continuing to update and modernize the U.S. system of state-based insurance regulation, according to President-Elect and Missouri Insurance Director John Huff. He said regulators are moving forward with the tools they need to protect consumers, especially in light of recent cyberattacks. Read on to learn more.
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Axis and Meridian Title partner to automate plant operations
Posted Date: Thursday, June 18, 2015
Meridian Title has implemented Axis AI’s Advanced Document Classification and Data Extraction software. The process of installing the solution will be complete in a matter of weeks and will be part of the company’s title plant automation initiative going forward. Read on to learn more.
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DocMagic kicks off client testing of TRID solution
Posted Date: Thursday, June 25, 2015
DocMagic instituted a phased testing approach of its SmartCLOSE collaborative closing portal for TRID compliance with select clients. It was made available to almost 250 lenders to start working with the system and provide comments. Read on to learn more.
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Easy Soft offering TILA-RESPA software
Posted Date: Tuesday, June 23, 2015
Easy Soft’s new EasyCDF real estate closing software helps attorneys facilitate closings in-house. It takes users through the entire closing process step-by-step with built-in safeguards that help eliminate the possibility of errors. Keep reading to learn more.
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Closing Insight to be used by USAA members
Posted Date: Monday, June 29, 2015
The United Services Automobile Association (USAA) signed an agreement to implement Black Knight’s Closing Insight. Lenders and their service providers can begin using the new Closing Insight solution when the CFPB’s TRID rule deadline goes into effect later this year. Keep reading to learn more.
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Adeptive integrates with NotaryLoop
Posted Date: Monday, June 29, 2015
Adeptive integrated with NotaryLoop. This allows title agencies to submit loan information to their preferred notary signing services. Read on to learn more.
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San Diego County now eRecording
Posted Date: Tuesday, June 23, 2015
San Diego County in California now is accepting electronic land documents. San Diego County Assessor-Recorder-County Clerk Ernie Dronenburg said he estimates 74 percent of the documents are qualified to use this process. Keep reading to learn more.
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North American Title names Estero branch leader
Posted Date: Thursday, June 18, 2015
North American Title’s Estero, Fla., branch will open in March 2016. In preparation, the company has hired a business consultant with 18 years of closing experience. Read on to learn more.
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California Title announces new president
Posted Date: Monday, June 22, 2015
The California Title Co. appointed a new president as Jim Waterman announced his retirement. The new leader has a “tremendous amount of experience, knowledge and leadership,” the company said. Keep reading to learn more.
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Zombie foreclosures down 10 percent
Posted Date: Thursday, June 18, 2015
RealtyTrac released its second quarter 2015 Zombie Foreclosure Report. It showed the total number of zombie foreclosures was down 11 percent from the previous quarter and down 10 percent from Q2 2014. Read on to learn more.
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Best and worst markets for low down payments
Posted Date: Tuesday, June 30, 2015
RealtyTrac and Down Payment Resource released a joint analysis examining affordability, median income, median home price and homeownership program availability in 370 U.S. counties. Each county was ranked on its affordability and accessibility for low down payment buyers. Keep reading to learn more.
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CFPB publishes more than 7,700 consumer complaints
Posted Date: Monday, June 29, 2015
The Consumer Financial Protection Bureau (CFPB) went live with an enhanced public-facing consumer complaint database. It includes for the first time more than 7,700 consumer accounts of problems they are facing with financial companies concerning mortgages, bank accounts, credit cards and debt collection. Keep reading to learn more.
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Stewart adds sales director of western states
Posted Date: Monday, June 29, 2015
Stewart appointed a new sales director for the western states agency district. He will responsible for building an effective sales strategy to attract new independent agencies and service existing ones. Keep reading to learn more.
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NextAce appoints new COO
Posted Date: Monday, June 29, 2015
NextAce named a new chief operating officer. He will responsible for day-to-day operations of the company. Keep reading to learn more.
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U.S. foreclosure activity decreases 5 percent
Posted Date: Thursday, June 25, 2015
Foreclosures on U.S. properties decreased 5 percent from April to May, according to RealtyTrac’s Foreclosure Market Report. Keep reading to learn more about this trend.
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Lenders’ purchase volume share continues to rise
Posted Date: Thursday, June 25, 2015
Purchase loans as a percentage of lenders’ overall mortgage volume rose for the third straight month in May according to Ellie Mae’s Origination Insight Report. Read on to learn more.
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TRID implementation delayed two months and two days
Posted Date: Wednesday, June 24, 2015
The proposed new effective date for the TILA-RESPA Integrated Disclosure rules will be Oct. 3, the Consumer Financial Protection Bureau announced. The bureau said it was proposing an Oct. 3 effective date rather than Cordray’s recent announcement of Oct. 1 because it would launch TRID on a Saturday, as it would have Aug. 1.
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Stewart adds business development officer
Posted Date: Tuesday, June 23, 2015
Stewart Title Commercial Services added a new senior business development officer. He will responsible for company-wide commercial business. Keep reading to learn more.
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Adeptive integrates with NotaryLoop
Posted Date: Tuesday, June 23, 2015
Adeptive integrated with NotaryLoop. This allows title agencies to submit loan information to their preferred notary signing services. Read on to learn more.
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Average downpayment drops to three-year low
Posted Date: Monday, June 22, 2015
RealtyTrac released its first quarter 2015 U.S. Home Purchase Down Payment Report. It showed the average downpayment for single family homes, condos and townhomes in the first quarter was 14.8 percent. Keep reading to learn more.
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