An Ohio title examiner recently made a startling discovery when she tried to download documents from LandAccess.com. Many of the documents she knew to exist in the county's official database were missing from the online indices maintained by the subsidiary of Affiliated Computer Services. Another examiner has also found inconsistencies between the online records provided by LandAccess.com and the county’s official records.

The California insurance commissioner joined other companies and associations with his endorsement of California's first green homeowners insurance policy.

Executive Title Insurance Services of southwest Florida recently announced its intentions to change its name to Stewart Title, the parent company that has owned the firm for eight years.

Concerns about rising inflation and the probability that the Fed will raise short-term rates combined to push mortgage rates higher this week, according to the GSE's chief economist.

The register of deeds' office in Raleigh will be closed for two days next month as the staff gets situated in the Bank of America Building located less than three blocks from its present location.

A recent U.S. foreclosure report indicated that foreclosure filings increased nearly 14 percent increase during the second quarter of 2008, up 121 percent from the same period last year.

The a new agreement will allow RealtyTrac to feed FrontDoor.com real-time properties from its nationwide foreclosure database of default, auction and bank-owned homes.

Weekly developments in the title insurance industry (July 19 - July 25, 2008)

CampusMBA launched Reverse Mortgage Central, a training solution for the entire real estate finance industry as demand for reverse mortgages continues to grow.

Preparing for accelerated growth fueled by increasing national demands for secure electronic transactions, the National Notary Association named a new chief-executive-officer.

The Ohio Department of Insurance has amended a rule concerning the criteria for the annual independent review of various title insurance agent and title insurance company trust accounts.

Fidelity National Financial's second quarter 2008 earnings tumbled all the way down to $6.9 million; the dampened figure was the result of increased claims and fewer orders placed.

The First American Corporation intends to host a conference call on July 31, 2008, at 11 a.m. following the release of the company's operating results for the second-quarter of 2008.

The newest product introduces an extensive set of improved features to help customers replace the expensive and slow use of paper in all contract execution processes.

Washington Mutual posted a second quarter 2008 net loss of $3.33 billion as it significantly increased its loan loss reserves by $3.74 billion to $8.46 billion. During Q1 '08, it only lost $1.14 billion.

A former Staten Island dentist received a 120-month sentence in federal prison for operating a scheme in which he fraudulently obtained approximately $2.76 million in mortgage loans.

The Market Composite Index decreased 6.2 percent on a seasonally adjusted basis from one week earlier, and it was down 19.6 percent compared with the same week one year earlier.

Zillow.com reported that it had implemented a broad expansion in the number of for-sale listings on the site, bringing the total number of live listings to nearly three million today.

As a result of current market conditions, Ginnie Mae recently announced that it is delaying the implementation of both its Web-based GinnieNET System and its Reporting and Feedback System.

Executive changes are underway within the ranks of the Mortgage Bankers Association, as its president and chief-executive officer announced his intention to leave, effective January 1, 2009.

Fitch Ratings has downgraded the Issuer Default Rating for Wachovia and its subsidiaries to 'A+' from 'AA-'. Fitch announced that the rating outlook is now negative.

Under the terms of the agreement, Ellie Mae will relocate and consolidate its U.S.-based IT infrastructure into two SAVVIS data centers, leveraging a single-vendor environment.

Consistent with previously announced expectations, Wachovia reported a net loss in the second quarter of $8.9 billion, a reflection of declining market valuations and asset values.

Keller Williams Realty, the fourth largest real estate company in the nation, intends to launch a Keller Williams Realty Commercial Division this fall headed by Buddy Norman.

The Real Estate Roundtable recently welcomed a new board of directors and new leaders for its policy advisory committees, vowing increased attention to real estate policy issues in 2009.

Cogent Road recently launched an automated tool for detecting if a credit score has been artificially inflated due to untrustworthy “authorized user” accounts within the borrower’s profile.

ALTA sent out an alert to its members and its state associations last week urging title agents, escrow officers and attorneys to ask their representatives to oppose HUD's proposed RESPA reforms.

Fidelity National Financial launched Fidelity National Title de Mexico S.A. de C.V.; the company's principal office is located in Mexico City with branch offices expected to open throughout the country.

Legislation was recently enacted in the state of California that provides the state’s homeowners with additional protections from foreclosure procedures. The legislation, Senate Bill 1137, which was authored by Senate President Pro Tem Don Perata, was fueled by concerns that California continues to face an unprecedented threat to its state economy and local economies due to skyrocketing residential property foreclosure rates. Governor Arnold Schwarzenegger signed the bill into law on July 8, 2008 at a special bill signing ceremony.

The board will provide counsel on existing Zillow services for the real estate industry, and it also will evaluate ideas for future products and services.

In connection with the process, the GSE filed a registration statement with the SEC that includes financial statements for the quarter ended March 31, 2008, and for the last three years.

The partnership supports projects in Halton, Calgary, Dartmouth, Moncton, Montreal and Vancouver. The agreement includes a monetary donation and an in-kind donation of title insurance policies for all Habitat homes.

Default Research reported that King, Pierce and Snohomish counties saw notice of trustee sales increase to 3,379 in the second quarter of 2008, up from 2,743 in the first quarter of the year.

Tippecanoe County officials are implementing software packages from Fidlar Technologies that will provide users access to the county's record databases from off-site locations.

Weekly developments in the title insurance industry (July 12 - July 18, 2008)

The GSE has priced its new 3.250 percent $3 billion two-year USD Reference Notes security due on July 16, 2010; the notes will settle on July 18, 2008.

An attorney disbarred for misappropriating funds from his clients' accounts was sentenced to 9 years in prison, ordered to pay hefty restitution and placed on a 3-year post-sentence supervision.

Data from Freddie Mac's weekly mortgage survey showed that the 30-year fixed-rate mortgage averaged 6.26 percent, a significant decline from last week's figure of 6.37 percent.

The national independent software provider for the settlement services industry marks its 15-year anniversary this month as it closes its 60th consecutive profitable quarter.

The recorder for Bucks County is implementing a new system that will improve the timeliness in which documents are recorded and their security during times of disaster.

The Market Composite Index increased 1.7 percent on a seasonally adjusted basis from 513.4 one week earlier, but remained down 17.4 percent compared with the same week in 2007.

Several counties throughout the U.S. recently partnered with Aptitude Solutions to roll out the company's OnCore county recording and workflow management systems.

The eRecording and document management software and services provider launched Landata's eClipse, an all-in-one platform supporting recordation of county documents.

The American Securitization Forum publicly launched Project RESTART, a program designed to restore investor confidence in mortgage and asset-backed securities.

The map-based online real estate search company appointed Michael Malone as its new chief-executive-officer. Over his 22-year career, Malone has launched several innovative companies.

Employees working at Chicago Title in Palo Alto, California recently experienced quite a shock when a Toyota SUV came smashing through the company's window and one of its walls.

The title company formed the relationship in able to use DepotPoint's online workflow applications to streamline the tracking and management of thousands of properties in stages of distress.

This month alone, Terabitz established contractual relations with six countries that service the real estate industry throughout the United States, thus expanding the company's national presence.

North Dakota's attorney general recently provided his opinion on a request from CoreLogic asking whether Mountrail County had violated a state law when it required the company to pay an excessive fee for copies.

Sutton Alliance and Magram Computer Services have partnered to introduce SuttonExchange, a complimentary service available to users of its Title & Abstract Control System.

Appearing before the Senate Committee on Banking, Housing, and Urban Affairs, the Fed chairman said that the U.S. economy and financial system have significant hurdles to overcome.

The credit crunch is impacting not only consumers' ability to get credit, and how they use it, but also, for some, the credit crunch is affecting their mindset toward their financial institutions.

The national real estate property research organization announced the completion of its acquisition of Colorado Record Data and CRS Title Services, which was finalized on June 30, 2008.

Ohio officials introduced the "Save the Dream" billboard advertisements at a news conference in Linden, an area in the state that has been hard hit by foreclosures.

A resident of Virginia and a Florida man have been tied to a major fraud scheme in which investors were defrauded out of $132 million and countless properties.

Hudson & Marshall will auction over 200 bank-owned foreclosures in Chicago on July 19, 2008 in Chicago; the following day, the company will auction more than 100 homes in Indianapolis.

In response to the Treasury's recent announcement that it would provide assistance to the GSEs, the National Legal and Policy Center criticized the management efforts of both of the enterprises.

The Fed approved a final rule for home mortgage loans that prohibits unfair, abusive or deceptive home mortgage lending practices and restricts certain other mortgage practices. 

ZipRealty.com recently launched "Price Me Now," a game that awards players an IQ score based on predicted sale prices of for-sale homes in Boston, Seattle and the San Francisco Bay Area.

In an effort to shore up support for both Freddie Mac and Fannie Mae, the U.S. Treasury announced a new plan that it intends to push through Congress that would provide the GSEs greater protection.

The owner of Escrow of the West and Senior Escrow Officer said the expansion was necessary due to the importance of real estate owned transactions in today's economy.

On July 11, 2008, OTS closed IndyMac and the Federal Deposit Insurance Corporation was named conservator. At its closure, IndyMac held about $1 billion of potentially uninsured deposits.

The U.S. Senate convened today at 3:30 p.m. to vote upon House Resolution 3221, known as the Foreclosure Prevention Act of 2008. The bill has also been referred to by its supporters as the FHA Modernization Act of 2008 and the Building American Homeownership Act of 2008. Considered to be one of the most important pieces of legislation, if enacted, the bill would provide massive overhauls to the operating practices of the Federal Housing Administration, the government-sponsored enterprises and the Department of Housing and Urban Development.

As Freddie Mac and Fannie Mae's stock values plummeted today, industry analysts expressed fears over the future of the GSEs while government officials continued to back them.

Freddie Mac's weekly survey indicated that the 30-year fixed-rate mortgage averaged 6.37 percent for the week ending July 10, 2008, up from last week when it averaged 6.35 percent.

The former president of First Bank Mortgage was charged in an 11-count indictment that connected him to defrauding the firm of $35 million over the course of several years.

The Ashland County Recorder is seeking bids for a new archival, indexing, cashiering and imaging system. The county is also interested in implementing a new disaster recovery program.

First Title Insurance plc, a First Title plc subsidiary and a provider of title insurance in the U.K. and Europe, provided title insurance to facilitate the purchase of Winmarkt Magazine by the IGD Group.

 Metro Brokers Real Estate announced that it would be the first real estate brokerage of any large brand in the country to use the iPhone home search application created by Terabitz.

Weekly developments in the insurance industry (July 5 - July 11, 2008)

The new business model will enhance closings by decreasing the number of bricks and mortar locations while expanding the number of specialists who deal one-on-one with clients.

The National Association of Realtors is predicting modest near-term movement in existing-home sales with a recovery in sales seen during the second half of the year.

The Mortgage Bankers Association indicated that the Market Composite Index grew by 7.5 percent on a seasonally adjusted basis for the week ending July 4, 2008.

Fidelity National Financial will release second quarter 2008 earnings after the close of regular market trading on July 23, 2008 and a conference call will occur on the following day.

The defendants in a federal mortgage fraud case entered pleas of not guilty in Chicago federal court to charges that they defrauded lenders out of $16 million in loan proceeds.

A Detroit federal court refused to dismiss a lawsuit brought by a homeowner who alleged that he was overcharged for title insurance by Transnation Title when he refinanced his mortgage.

The New England Land Title Association officially adopted the American Land Title Association's Principles of Fair Conduct, joining 29 other states that already follow these guidelines.

The seminar focused on the increased conforming loan limits of the Federal Housing Authority, which were implemented earlier this year as part of the economic stimulus package.

During a speech given by Ben Bernanke, he said that that the Federal Reserve and others are considering operational changes in response to the downward shift in the mortgage market.

Freddie Mac's most recent mortgage market survey indicated that the 30-year fixed-rate mortgage averaged 6.35 percent for the week ending July 3, down from the week before when it averaged 6.45 percent.

IndyMac sent a letter to its shareholders in which the company's chief-executive-officer informed them that, despite the company's best efforts, it is still facing many challenges.

Via the alliance, Response Analytics will provide First American Subordinate Lien Outsourcing access to its distressed portfolio management solution.

The American Land Title Association appointed Justin Ailes as the association's director of government affairs where he will liaise between state, federal and association representatives.

Among the group's chief concerns is that foreclosures will skyrocket in 2009 as more homeowners are forced to choose between mortgage payments and rising fuel and food costs.

The Identity Theft Assistance Center recently consumers to regularly check their Home Equity Lines of Credit accounts following the release of an identity theft report from the F.B.I.

Refinance.com, a leading U.S. source for residential mortgage refinancing, has expanded its licensing and is now accepting mortgage applications in Arkansas, New Hampshire and New Mexico.

The study showed a significant decrease in the risk-adjusted capital ratio for Fitch's aggregate title insurer universe with the risk-adjusted capital ratio falling to its lowest point since 1997.

The complaint alleges First American engaged in an illegal scheme with Washington Mutual to artificially inflate appraisals of homes for use in connection with mortgages issued by the lender.

A performance audit of the Cuyahoga County, Ohio Recorder's Office has been initiated by the Cuyahoga County Commissioners, according to Mary Taylor, the county auditor.

Weekly developments in the title insurance industry (June 28 - July 4, 2008)

A California-based U.S. Court of Appeals agreed with the Securities and Exchange Commission this week when it reinstated an insider trading case against a former director at FNF.

The Federal Housing Administration and the Minnesota Housing Finance Agency recently reached a first-of-its-kind agreement to promote safer, affordable government-insured mortgages. The memorandum of understanding that the agencies signed forges a working relationship and commitment by the federal and state governments to help Minnesotans continue to access safer and more secure FHA-insured mortgages. As the housing and credit markets change, the understanding will establish a partnership committed to increasing access to FHA-insured mortgages throughout the state.

Fidelity National Information Services recently completed the spin-off of Lender Processing Services. Shareholders received one share of LPS common stock for every two shares of FIS they stock owned.

TheHomeBuyingCenter.com continues to connect sellers eager to sell their properties with investors and recently expanded its service offerings to help consumers find and buy foreclosure homes.

The operator of Flagler Title's fears mounted as each month brought less and less business to the title company due to the weakened housing market and tightening credit crunch.

Mortgage rates were lower across the board, with the average conforming 30-year fixed mortgage rate falling to 6.53 percent, according to Bankrate.com's weekly survey of large lenders.

Fortes Financial debuted Fortes Residential Mortgage, an independent mortgage banking enterprise, comprised of regional wholesale operations centers, retail banking offices and reverse mortgage branches.

LandAmerica Financial Group announced that it will release operating results for the second quarter 2008 after the market closes on July 29, 2008.

In collaboration with the Corcoran Group, PropertyShark.com audited and supplemented data for the firm's first quarterly report examining Manhattan's residential property sales.

The Lucas County Courthouse is no longer permitting visitors to carry their cell phones into the building after participants in criminal trials were being recorded and photographed.

First American CoreLogic released its April 2008 LoanPerformance Home Price Index; the data indicated that 33 states posted declines in the past 12 months.

A Genola town councilman and his son recently reached a settlement with Old Republic over a lawsuit that accused them of fraudulently hiding personal assets. Terms of the settlement were not disclosed.

The Market Composite Index increased 3.6 percent on a seasonally adjusted basis from one week earlier; it increased 3.2 percent on an unadjusted basis.

An insurance services provider recently predicted that the European market will see a surge in the uptake of title insurance policies as the subprime meltdown expands in the United Kingdom.

The new agreement and strategic partnership will allow Coldwell Banker agents and their clients to have real-time access to RealtyTrac's nationwide foreclosure database of properties.

A fire that engulfed the downtown office of Stewart Title in Everett, Washington last week did not lead to the loss of any record information or expose the company to significant business setbacks.

The closures are the result of the weakening housing market and the higher rates of foreclosure in many California communities, according to a division president.

A woman who ran a red light in downtown Fort Wayne, Indiana started a chain reaction accident that ended with an Aramark van hurtling through the storefront of a local title firm.

The Kentucky Department of Insurance named a 17-year veteran of Kentucky state government as its newest commissioner. The role was being fulfilled by Acting Commissioner John Burkholder.