Title insurance

Second quarter earnings at the nation's largest title underwriters, while mostly positive, were still affected by the rather weak purchase season this year.

The Ocean State is the latest to enact rules prohibiting the agreements that end up tying older homeowners to long-term contracts with real estate brokers.

The government-sponsored enterprise has reportedly added a new vendor to a test in which it buys certain loans without title insurance or attorney opinion letters.

The company gave no reason for his abrupt departure, which comes two months after the CEO of its parent First American Financial, Kenneth DiGiorgio, was fired.

The trade group, whose industry has come under attack by the growth of title insurance alternatives, cited Morton's lobbying expertise for his promotion.

Covius' title services had focused on the needs of firms involved with defaults, but this acquisition from Blend pushes the shift to originations forward.

The law, set to go into effect later this year, was introduced to prevent potential money laundering in all-cash purchases made by companies or trusts.

The title insurance industry, highly dependent on mortgage origination volume, recovered after watching volume fall 31% in 2023 and 16% in 2022.

April was a mixed bag for title companies, executives said on earnings calls, but some are expecting a stronger market the rest of the year.

The mortgage fintech looks to transition to a model of strategic platform partnerships rather than offer its own closing services as it simplifies operations.

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