Westcor Land Title Insurance Co., Winter Park, Fla., has created a National Agency Division to serve independent title agents who write business in multiple states. The unit, Westcor said, was formed out of demand from the growing number of multistate agents looking for an underwriter who provided a relationship built on trust and integrity and gives their agents access to all decision makers without competing for their customers. The team will include Barbara Allen, division manager, Sara Hewitt, vice president of national accounts, Kimberly Sledd, national agency representative, and Chris Skinner, national corporate coordinator. Westcor is currently licensed in 26 states with 10 additional state licenses slated for approval this year. "Westcor does not expect to be a 50-state solution, explains Allen. "Rather, our purpose is to identify and engage a network of quality agents and vendors to support independent multistate agents in most markets even if the policy is not issued on Westcor." Westcor, according to the American Land Title Association, was the third largest regional underwriter for 2009 and seventh largest overall.
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Home price modeling changes hurt FOA's third-quarter interim results but it was in the black between January and September on a continuing operations basis.
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While FHFA reduced most of the single-family low-income goals, the MBA wants the refinance target for Fannie Mae and Freddie Mac cut as well, its letter said.
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The latest case comes after at least three other zombie lawsuits in the past year, with the owner of the loan in question claiming $173,000 in past-due interest.
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Newer automation that can serve as a wraparound to existing technology can cut servicing costs in a competitive industry, according to fintech executives.
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Comptroller of the Currency Jonathan Gould said Tuesday that chartering compliant fintechs is "the only way" to level the playing field between banks and nonbanks. His comments come as the Office of the Comptroller of the Currency weighs new trust charters and stablecoin rules.
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Federal Reserve Vice Chair for Supervision Michelle Bowman said she wants banks to be competitive in the digital assets space, provided those operations are siloed from the traditional finance side of the business.
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