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Title Alliance Announces Integration of NextDeal Technology
Title Alliance has announced that it is implementing NextDeal technology in affiliate offices nationwide. NextDeal is a sales product designed to help title businesses increase revenue by capturing repeat business by identifying when a former customer is returning to the housing market.
MBA Weekly Report: Application Volume Increases 4.9%
Mortgage applications increased 4.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 14, 2014.  This week’s results included an adjustment for the Veterans Day holiday.
Court Hauls CEOs Into Court Over Dispute Involving No-search Title Insurance

A federal court has ordered the CEOs of First American and U.S. Bank to personally attend a settlement conference, in a dispute over hundreds of title insurance claims on no-search title policies that U.S. Bank says were improperly denied.  The court's step of ordering the CEOs to attend the settlement conference is unprecedented.

RealtyTrac: Home Flipping at Lowest Level in Five Years
Housing data provider RealtyTrac has released its Q3 2014 U.S. Home Flipping Report, which shows that flips represented 4.0 percent of all U.S. single family home sales, down from 4.6 percent in the second quarter of 2014 and down from 5.6 percent in the third quarter of 2013 to the lowest level since the second quarter of 2009.
RealtyTrac: Foreclosure Activity Increased Sharply in October
Housing data provider RealtyTrac has released its U.S. Foreclosure Market Report for October 2014, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — increased by15 percent from the previous month, the largest month-over-month increase since U.S. foreclosure activity peaked in March 2010.

Punctual Abstract
AccuSearch Company
NAR: Existing Home Sales Rise on Lower Interest Rates, Job Market Strength
Existing-home sales rose in October for the second straight month and are now above year-over-year levels for the first time in a year, according to the National Association of Realtors.
FLTA Picks Stein as President for 2015
W. Jeffry Stein, Esq., Florida Counsel and Vice President for Alliant National Title Insurance Company , has been elected to serve as the President of The Florida Land Title Association (FLTA) for 2015.
A Title Insurer's Duty to Defend Non-Title Claims in a Title Lawsuit

Title insurers have a duty to defend policyholder when they are sued for matters that can impair the policyholder's title in a way that the policy covers.  But if the lawsuit contains other claims against the policy holder that do not involve title, does the title insurer have to defend those too?

ALTA Announces Dates, Venues for 2015 Conferences
The American Land Title Association (ALTA), the national trade association of the land title insurance industry, announced dates of its 2015 major meetings.
ALTA Awards NTP Designations to Four Title Professionals
The American Land Title Association (ALTA) recently awarded four National Title Professional (NTP) designations to individuals from Virginia, California, Ohio, and Louisiana. The four designees join 34 other industry leaders from around the country who have earned the prestigious professional designation.
MBA: Mortgage Delinquency Rate HIts Seven-Year Low
The delinquency rate for mortgage loans on residential properties decreased to a seasonally adjusted rate of 5.85 percent of all loans outstanding at the end of the third quarter of 2014-- the lowest level since the fourth quarter of 2007. 
MBA Weekly Report: Mortgage Application Volume Decreases
Mortgage applications decreased 0.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 7, 2014.
RealtyTrac: Home Sales Down from Year Ago Levels
RealtyTrac has released its September and Q3 2014 Residential & Foreclosure Sales Report, which shows that U.S. residential properties, including single family homes, condominiums and townhomes, sold at an estimated annual pace down 19 percent from a year ago, as the number of distressed sales (short sales and foreclosures) continued to decrease
"About that three-story tattoo parlor you're building next door..."

Title insurance does not cover all items in the public record that are adverse to the buyer; rather, title insurance covers what the policy says it covers.  Thus, it is possible to have title insurance and yet be underinsured.  This can lead to unfortunate situations where matters of record inhibit a buyer's plans for a property but do not give rise to coverage.

ALTA Names Diane Evans as President
The American Land Title Association has announced that veteran land title agent Diane Evans NTP has been named president for the 2014-2015 year.
MBA Weekly Report: Application Volume Ticks Down
Mortgage applications decreased 2.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 31, 2014. Refinance activity, which has recently been near yearly highs, dropped because of rising interest rates.
MBA: Mortgage Credit Availibility Dropped in October
Mortgage credit availability dropped in October according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association.  A drop in the index indicates that lending standards are tightening for mortgages, making it harder for particular borrowers to get mortgages.
First American Reports Lower Revenue, Fewer Orders
Number two title insurer First American reported has reported a three percent decline in revenue in the third quarter, as a 20% increase in revenue per direct title order could not offset a 20% decline in order count.
Fidelity National Reports Higher Revenue, Earnings

Fidelity National Financial, the largest provider of title insurance, this week announced its third quarter earnings, showing higher revenue and profits than the same quarter a year ago.

CoreLogic: Completed Foreclosures Down 32.6%
Housing data provider CoreLogic has released its September National Foreclosure Report, showing that there were 46,000 completed foreclosures nationally, down from 68,000 in September 2013, a year-over-year decrease of 32.6 percent and down 61 percent from the peak of completed foreclosures in 2010.
CoreLogic: Mortgage Fraud Risk Increases
Housing Data provider CoreLogic has released its latest Mortgage Fraud Report, showing a 3.2 percent year-over-year increase in fraud risk.  For the twelve months ending the second quarter 2014, the report estimates the total value of applications with fraud or serious misrepresentations at $19.8 billion.
MBA Weekly Report: Applications Decline as Rates Tick Up
Mortgage applications decreased 6.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 24, 2014. 
The Holy Grail of Lending Fail: Getting the Mortgage AND Note Wiped Out

When a bank makes a mortgage loan but does not get a properly drafted and validly executed mortgage, the bank may be unable to foreclose on the property it intended to secure the underlying promissory note, but it can still get a judgment against the borrower on the note.  However, in a recent case, further missteps in the foreclosure action on a fatally flawed mortgage ended up effectively wiping out the note as well.

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