Title insurance

The homebuilder agreed to acquire Alliant National in a transaction announced last October, with this deal closing after the Cherry Creek mortgage purchase.

The increase in refinance originations in the fourth quarter trickled down to the title insurers, which reported year-over-year gains in new orders.

The state's insurance commissioner made the change following analysis of title industry profits and expenses in Texas provided by its stakeholders.

As part of a partnership agreement the two companies entered into, the Ramquest and E-closing platforms have shifted ownership for an undisclosed price.

Premium volume increased by 5.3% year-over-year, while operating income was up, but industry expenses also rose in the third quarter, the American Land Title Association said.

Continued reductions by the Federal Reserve in short-term interest rates should benefit mortgage volume, and thus title insurance activity, Fitch Ratings said.

Three of the four largest title insurers were profitable in the third quarter; First American's loss should set it up for future gains, its execs said.

But the purchase business that brings in three times the fee size as refinancings will be the driver of the improvement for the publicly traded title underwriters.

Among the big four title companies, the top two reported fewer open orders year-over-year in the second quarter, while the other two gained business.

A group of 14 state attorneys general, led by Tennessee, joined the chorus of opposition to the Fannie Mae pilot to not require title insurance on certain refinances