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Closings

FinCEN anti-money laundering rule struck down in court

Closings, Compliance, FinCEN, HWmember, Legal, Money laundering, Real Estate, Regulatory Compliance, Title, Title insurance /

A federal judge in Texas has vacated the Financial Crimes Enforcement Network’s (FinCEN) nationwide anti-money laundering rule requiring title insurance companies to report details of millions of residential real estate transactions. U.S. District Judge Jeremy Kernodle of the Eastern District of Texas decided Thursday that FinCEN exceeded its statutory authority with the rule, which took […]

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Propy expands AI title rollup with Florida acquisition

Artificial Intelligence, Closings, HWmember, Mergers and Acquisitions, Propy, Real Estate, Technology, Title, Title insurance /

Propy has acquired the title division of Boss Law as part of the company’s effort to expand its presence in institutional real estate transactions. The deal brings the Florida-based title operation — including offices in St. Petersburg and Seminole — under the Propy Title brand. Boss Law’s client base includes several large residential real estate

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Allied Title and Escrow expands into Ohio, Michigan

Closings, HWmember, Michigan, Ohio, Real Estate Agents, Title, Title insurance /

Virginia-based Allied Title and Escrow has expanded its operations into Ohio and Michigan — bringing its total footprint to 14 states. The move marks another step in Allied’s national growth strategy and expands its presence in the Midwest as leaders cited increased demand from real estate agents, lenders and investors seeking technology-driven title and escrow

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Florida Agency Network partners with law firm to launch OL Title

Closings, Florida, Luxury Real Estate, Title, Title insurance /

Florida Agency Network (FAN) has launched OL Title, a new title and settlement services company formed in affiliation with Older Lundy Law. The new venture will focus on commercial real estate and high-end residential transactions across Florida — combining the legal capabilities of Older Lundy Law with FAN’s statewide title network and technology platform. Leaders

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Loft47 expands platform to transaction management, compliance for real estate brokerages

Artificial Intelligence, Brokerage, Closings, Compliance, HWmember, Real Estate, Real Estate Technology, Regulatory Compliance, Technology /

Loft47 has released software features expanding its platform beyond commission management to transaction management, compliance review and workflow coordination for real estate brokerages. The company said updates allow brokerages to manage transactions from executed contract through closing within a single system — even when agents use different contract and e-signature tools. Updates include automated deal

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Propy secures $100 million for AI-powered closing platform

Artificial Intelligence, Blockchain, Closings, eClosing, HWmember, Real Estate, Technology, Title, Title insurance /

Propy — a tech company using artificial intelligence (AI) and blockchain to automate real estate closings — announced it has secured a $100 million credit facility from Metropolitan Partners Group. Financing will be used to consolidate title and escrow companies into an AI-powered, end-to-end closing platform. According to Propy, transaction costs can approach 10% of

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WFG National Title expands operations into New Mexico

Closings, HWmember, New Mexico, Title, Title insurance, WFG National Title /

WFG National Title Insurance Co. — a subsidiary of Williston Financial Group — on Thursday announced its expansion into New Mexico. “WFG continues to grow in ways that strengthen our national footprint while staying true to our mission of improving the real estate process for everyone involved,” said Patrick Stone, chairman and founder of Williston

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Arrivva’s fixed-fee model challenges commission norms

Affordability, Brokerage, California, Closings, Commission Lawsuit, Homebuying, Mortgage, National Association of Realtors, Real Estate, Real Estate Agents /

For more than a decade, Fred Glick has been on a mission to shake up how Americans buy and sell homes. As founder of Arrivva — a California-based real estate and mortgage brokerage — Glick said his company’s fixed-fee model offers a transparent alternative to the traditional commission system. “People think because we’re not charging

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Government shutdown looms large for real estate, mortgage

Closings, Consumer confidence, Donald Trump, Government Shutdown, Home Sales, Homebuilder Confidence, Homebuyers, Mortgage, National Association of Realtors, Politics, Real Estate, Real Estate Agents, Trump administration, U.S. Government /

Government shutdowns have repeatedly rippled through the real estate industry over the past three decades, delaying loans, snarling flood insurance and rattling buyer confidence. A federal shutdown is days away as of Friday — threatening paychecks for hundreds of thousands of workers, freezing key reports like monthly jobs data and placing a layer of uncertainty

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Advalis CEO speaks on expanded FinCEN compliance platform

beneficial ownership, Closings, Compliance, eClosing, FinCEN, HWmember, Real Estate, Regulatory Compliance, Title, Title insurance /

Compliance software provider Advalis has launched a new version of its platform designed specifically for title companies, escrow officers and settlement agents facing the upcoming Financial Crimes Enforcement Network (FinCEN) Residential Real Estate Reporting Rule. The rule, which takes effect Dec. 1, will require reports on certain all-cash real estate transactions — essentially expanding what

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