Titl automates titles for homebuyers, saving money and time
The reason title fees are so expensive, according to Ohayon, is because title information isn't truly digitized. Titl uses Google's Gemini and Open AI to "parse, filter, and analyze vast amounts of land registry documents with speed and precision," according to their website. For blockchain, Titl uses the Polymesh Network, to store and secure land registry data and property records. "It's an AI model that scrapes every public repository and reads it on its own and then it spits out the answers and we submit that to the user," he said of Titl's technology.
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Severance on the high seas: First American CEO to receive fat payout following cruise ship assault charge
Ken DeGiorgio, former CEO of First American Financial Corp., will collect a hefty payout following his termination from the title insurance giant, according to a shareholder report filed with the U.S. Securities and Exchange Commission. First American announced that DeGiorgio's employment had been terminated "without cause," allowing him to receive a severance package worth an estimated $18.6 million.
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Bankruptcy Court Denies Stay Relief, Preventing Enforcement of Deed in Escrow Transaction
In a recent opinion and order, the US Bankruptcy Court for the Southern District of Illinois denied a secured lender's motion for relief from the automatic stay in order for the lender to record a deed being held in escrow relating to an Illinois commercial property. The debtor had given the deed to the lender pursuant to a forbearance agreement, under which the lender was permitted to record the deed in lieu of foreclosure in the event the borrower defaulted under the forbearance agreement.
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NY bill targets transparency in title agent compensation
A significant new bill introduced in the New York State Assembly could fundamentally change compensation structures within the title insurance industry. Assembly Bill A07866, sets out clear, strict guidelines on how title insurance agents can be compensated by insurers, emphasizing transparency, fairness, and accountability in agent-insurer dealings.
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Illinois bill proposes major shakeup in title insurance oversight
A newly introduced bill in the Illinois General Assembly aims to significantly alter the regulatory oversight of the title insurance industry. Senate Bill 2648, introduced by Sen. Bill Cunningham, proposes shifting enforcement authority from the Department of Financial and Professional Regulation (IDFPR) to the Department of Insurance (DOI).
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