Source of Title News

A provider of comprehensive closing and title and escrow software, SoftPro offers cutting-edge technology and support services to help make its customers’ businesses more efficient and productive.

Single-Family Starts Remain Lackluster, but Expected to Begin Sustained Rebound Later This Year
March 18 2023

Single-family production remained at an anemic pace in February as builders continue to wrestle with elevated mortgage rates, high construction costs and tightening credit conditions that threaten to be exacerbated by recent turmoil in the banking system.

Realty Company Owner Pleads Guilty in Fraud Scheme
March 16 2023

Lee Ann Benninghoff of Aliquippa, Pennsylvania, owner and operater of Complete Escrow and Bella Casa Realty, used her position and connections in real estate financing, and conspired with others in the industry, to submit fraudulent gift letters in support of mortgage loan applications. The gift letters misrepresented the source of the funds and their purported purpose.

February New Home Purchase Mortgage Applications Increased 1.2 Percent
March 16 2023

The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for February 2023 shows mortgage applications for new home purchases increased 1.2 percent compared from a year ago. Compared to January 2023, applications increased by 4 percent.

Mortgage Applications Increase in Latest MBA Weekly Survey
March 15 2023

“Treasury yields declined late last week, as market concerns over bank closures and the potential for broader ripple effects triggered a flight to safety in Treasury bonds. This decline pushed mortgage rates for all loan types lower, with the 30-year fixed rate decreasing to 6.71 percent,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist.

Builder Confidence Edges Higher in March but Future Outlook Uncertain
March 15 2023

Although high construction costs and elevated interest rates continue to hamper housing affordability, builders expressed cautious optimism in March as a lack of existing inventory is shifting demand to the new home market.

Kriss Law/Atlantic Closing & Escrow Names Tiberio SVP of National Sales
March 14 2023

Tiberio comes to KL/ACE with over 30 years of experience in financial services and mortgage banking. He was most recently the Director, Business Development with Mission Global, a provider of mortgage trading and capital markets support services.

DataTrace Selected as One of the Most Innovative Technology Companies in Real Estate by HousingWire Magazine for the Third Year in a Row
March 10 2023

“DataTrace is leading the transformation of the title industry with cutting-edge search and title automation solutions powered by comprehensive title and tax information,” said Robert Karraa, president of DataTrace.

MBA's RIHA Releases Second Collection of Essays on Climate Change's Impact on Real Estate Finance
March 09 2023

"RIHA’s essays on climate change will help the real estate finance industry better understand climate risk and ways to mitigate it. Developing strategies to address climate change remains a top priority within the industry and I am grateful to the authors for their contributions,” said Edward Seiler, Executive Director, RIHA, and MBA's Associate Vice President, Housing Economics.

$1.4B in Suspected Wire Fraud Identified by CertifID in 2022, Report Finds
March 09 2023

According to the report, wire transactions are increasingly at risk with suspected fraud targeting 83% of CertifID’s customers at least once in 2022. The heightened risk corresponds with an overall shift towards digital payments, accelerated by the COVID-19 pandemic.

ALTA Renews CertifID as Elite Provider
March 08 2023

The American Land Title Association(ALTA), the national trade association of the land title insurance industry, announced it has named CertifIDas an ALTA Elite Provider.

Mortgage Applications Increase in Latest MBA Weekly Survey
March 08 2023

Mortgage applications increased 7.4 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending March 3, 2023.

MBA Statement on HUD's Final Rule to Offer Standalone 40-Year FHA Loan Modifications
March 08 2023

“Adding the 40-year loan modification to FHA’s loss mitigation toolkit creates better alignment across the government and with Fannie Mae and Freddie Mac, a long-standing MBA priority that we most recently recommended in our new white paper on the future of loss mitigation."

Single-Family Market Share Continues to Shift from Large Population Centers
March 07 2023

While nationwide single-family housing starts have slowed in the past year, the largest drop on a percentage basis is occurring in the most dense counties, where housing costs are highest.

ALTA Applauds Passage of SECURE Notarization Act in the House of Representatives
March 05 2023

The Securing and Enabling Commerce Using Remote Electronic (SECURE) Notarization Act would enable use of remote online notarization (RON) technology by notaries public in interstate commerce and allow signers located outside of the U.S. – such as active-duty military personnel – as well as the elderly and homebuyers with disabilities to securely notarize documents.

MBA Statement on the House Passage of the RON Bill
March 05 2023

“MBA is pleased the House has once again passed legislation unanimously to create federal minimum standards to allow notaries in all states to perform safe and effective remote online notarization (RON) transactions.

More Americans Own Their Homes, but Black-White Homeownership Rate Gap is Biggest in a Decade, NAR Report Finds
March 02 2023

While the U.S. homeownership rate has continually increased during the last decade – to 65.5% in 2021 (from 64.7% in 2011) – the Black homeownership rate has not kept pace with increases of other racial groups. Also, people of color endure significant buying challenges throughout and even after their home purchase, according to a report released today by the National Association of Realtors®.

ALTA and ULTA Applaud Utah on Passage of First NTRAPS Bill
March 01 2023

The American Land Title Association, the national trade association of the land title insurance industry, and the Utah Land Title Association applaud the Utah legislature for passing H.B. 211, which will protect homeowners from the predatory practice of filing of unfair real estate fee agreements in property records, known as Non-Title Record Agreements for Personal Service (NTRAPS).

Mortgage Applications Decrease in Latest MBA Weekly Survey
March 01 2023

Mortgage applications decreased 5.7 percent from one week earlier,according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending February 24, 2023.

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