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Title insurance

Opendoor adds Doma title tech assets in new acquisition

Industry News, LOAN PRODUCTS, M&A, Mortgage technology, Originations, Title insurance /

Opendoor Technologies is acquiring assets belonging to title fintech Doma in a deal that arrives just weeks after the real estate company re-entered mortgage lending.  Processing Content The agreement adds Doma’s title automation search capabilities to Opendoor’s closing and escrow platform. Opendoor, known for its home-flipping model that quickly delivers cash to sellers, pointed to […]

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The ‘end-to-end’ title tech system has given way to something better

Contributors, HWmember, Opinion, Title, Title insurance /

Not long ago, many technology vendors were selling title professionals on a fairly simple idea: one platform, one vendor, every step of the workflow covered. It was an appealing proposition, and a number of providers invested heavily in trying to deliver on it. In fact, some still are. The concept made sense on its face.

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FinCEN’s anti-money laundering rule struck down: what real estate and title professionals need to know

Compliance, FinCEN, Home Sales, HWmember, Legal, Money laundering, Office of the Comptroller of the Currency, Real Estate, Regulatory Compliance, Title, Title insurance, U.S. Government, U.S. Treasury /

A federal judge in Texas has vacated the Financial Crimes Enforcement Network’s (FinCEN) nationwide anti-money laundering (AML) rule — creating a legal vacuum and uncertainty among title and real estate professionals. While the ruling eliminates a significant compliance burden that industry groups had criticized, legal observers warn that FinCEN retains broad authority over real estate

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MISMO, ALTA issue new title, settlement document guidelines

MISMO, ALTA issue new title, settlement document guidelines

Industry News, Mortgage technology, Mortgages, Originations, Title insurance /

Two influential groups in the home finance space have teamed up to provide information standards that will streamline title and mortgage closing processes.   Processing Content The Mortgage Industry Standards Maintenance Organization and American Land Title Association announced the publication of two new datasets, both of which should form a digital convention for documentation to benefit

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Synthetic IDs, false docs play role in $6M home lending scam

Fraud, Industry News, Law and legal issues, Title insurance /

An elaborate scheme involving 11 perpetrators, stolen identities and title fraud has resulted in $6 million in lender losses and criminal charges against the alleged scammers, according to new court documents.   Processing Content Federal prosecutors arrested the defendants, who were arraigned in Southern California and Florida courts late last week, following a grand jury indictment

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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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MV Realty settles NTRAP suit, but more legal woes loom

MV Realty settles NTRAP suit, but more legal woes loom

Industry News, Politics and policy, Regulation and compliance, State regulators, Title insurance /

Florida-based real estate firm MV Realty sees a potential new legal challenge even after settling another of the numerous lawsuits that accuse it of predatory entrapment in regards to its controversial homeowner benefit agreement program.  Processing Content Massachusetts Attorney General Andrea Joy Campbell announced her office reached an agreement with the firm, issuing a $2.25

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Newrez, Pennymac, Rate roll out fresh offerings

Mortgage Rates, Originations, Title insurance, Underwriting /

Newrez, Pennymac and Rate are rolling out new products that signal a flurry of activity across the mortgage market. Processing Content The timing might be coincidental for most of these announcements, but loanDepot’s announcement it was restarting wholesale production has changed the competitive landscape for the wholesale sector in particular. Newrez has title insurance alternative

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Newrez is waiving lender title insurance on some refis

HWmember, LendingLife, Mortgage, Mortgage Broker, NewRez, Origination, Refinancing, Title insurance, Wholesale Lending /

Multichannel mortgage lender Newrez has launched Newrez TitlePass for use in its wholesale channel, giving mortgage brokers a way to waive the lender title insurance requirement on certain refinance loans. This could potentially save borrowers hundreds or thousands of dollars in closing costs, the company said Monday. The program is offered exclusively through Newrez’s affiliated

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