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States Title Uses Machine Intelligence to Eliminate Human Review of Closing Documents
States Title, the only title company that uses patented machine intelligence technology to make closing a mortgage more efficient and affordable, today announced the release of its new Instant Closing Disclosure product. Instant Closing Disclosure is already helping lenders like Home Point Financial, one of the nation's leading mortgage lenders and servicers, save significant time in completing the loan closing process. Rather than relying on escrow employees to manually review closing disclosure documents and "stare and compare" to verify data and fees, the product uses data science to automatically deliver an accurate closing disclosure - almost instantaneously.
Docutech Is Now First American Docutech
Docutech is now officially rebranded to First American Docutech, following First American’s acquisition of the company in March. By uniting the leaders in title and settlement and document services technology, First American has created a unique opportunity to reimagine the digital closing process.
Real Title Services
The Orogen Group and Westcor Land Title Insurance Company Sign Definitive Agreement: Orogen Acquires Majority Stake
The Orogen Group and Westcor Land Title Insurance Company today announced a definitive agreement in which Orogen will acquire a majority stake in Westcor, the nation’s largest privately-held title insurance company with an extensive independent agent network and an A” (A Double-Prime) Financial Stability Rating® from Demotech Inc.
AccuSearch Company
RIHA Study: New Data Highlights Early COVID-19 Impact on Jobs and Individuals' Ability to Make Housing and Student Debt Payments
During the first three months of the COVID-19 pandemic, nearly 11 million households fell behind on their rent or mortgage payments and 30 million individuals missed at least one student loan payment, according to new research released today by the Mortgage Bankers Association's (MBA) Research Institute for Housing America (RIHA).
Single-Family Housing Continues Growth in August
Single-family starts showed continued growth in August but overall housing production fell 5.1 percent to a seasonally adjusted annual rate of 1.42 million units due to a double-digit percentage decline in multifamily production, according to a report from the U.S. Housing and Urban Development and Commerce Department. The pace of single-family starts in August was the highest production rate since February.
Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage applications decreased 2.5 percent from one week earlier,according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending September 11, 2020. This week's results include an adjustment for the Labor Day holiday.
Builder Confidence Soars to an All-Time High, Lumber Risks Remain
In a strong signal that housing is leading the economic recovery, builder confidence in the market for newly-built single-family homes increased five points to hit an all-time high of 83 in September, according to the latest NAHB/Wells Fargo Housing Market Index released today. The previous highest reading of 78 in the 35-year history of the series was set last month and also matched in December 1998.
August New Home Purchase Mortgage Applications Increased 33.3 Percent
The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for August 2020 shows mortgage applications for new home purchases increased 33.3 percent compared from a year ago. Compared to July 2020, applications decreased by 4 percent. This change does not include any adjustment for typical seasonal patterns.
Quick Links
Is an Algorithm Less Racist Than a Loan Officer?
Digital mortgage platforms have the potential to reduce discrimination. But automated systems provide rich opportunities to perpetuate bias, too.

U.S Mortgage Rates Hold Steady thanks to the Dovish FED
Mortgage rates were mixed in the week ending 17th September. Following a tumble to a new record low, 30-year fixed rose by 1 basis point to 2.87%. In the week prior, the 30-year fixed had fallen by 7 basis points to 2.86%. Compared to this time last year, 30-year fixed rates were down by 86 basis points.

Title insurance premiums surging during COVID-19 pandemic
The title insurance industry saw a surge in premium volume in the second quarter of 2020, according to the American Land Title Association's latest Market Share Analysis. It's no secret that lending volume is up in 2020. In fact, the latest Fannie Mae forecast says mortgage lending will hit an all-time high of $3.9 trillion this year, largely due to record volumes of refinancings.

Linda Lacewell: New York's no-nonsense reformer
The aim is to ensure the state's financial institutions get their cyber risk management practices in order. And the DFS has already been chasing down wrongdoers. In July, it filed charges against First American Title Insurance Company for exposing hundreds of millions of documents containing sensitive personal information including bank account numbers, mortgage and tax records.

Texas Court's Reversal Offers Encouraging Precedent for Future Trade Secret Litigation
In March 2018, a San Antonio jury unjustifiably awarded HouseCanary, a Silicon Valley start-up specializing in home valuation technologies, a preposterous $706 million against Amrock, a title insurance and property valuation provider formerly known as Title Source, for alleged proprietary misappropriation. The total award grew to over $740 million after the court stacked on interest and attorney's fees.

If lumber prices 'don't come down, you will see a slowdown in housing': NAHB CEO
Homebuilder sentiment is at an all-time high, as city-dwellers seek out suburban homes during the coronavirus pandemic. But experts warn that an overcorrection in the lumber market could spell trouble for homebuilders and homebuyers alike.

Realogy's RON mortgage closings triple over first half of 2020
From Ginnie Mae to Black Knight, industry players across the spectrum augmented their e-note capabilities in the past months, giving the product more ubiquity. Currently, 37 states approved remote online notarization and the outstanding 13 offer hybrid options.


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