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Tag Archives: First American

First American Title Unveils New Solution in Support of HARP 2.0

First American Title Insurance Company announced Tuesday the availability of Quick Start HARP - a title, signing, and settlement program that features proprietary technology to facilitate the processing of refinance closings under the newly revamped Home Affordable Refinance Program, more commonly known as HARP 2.0. Program changes are expected to help lenders reach a previously untapped population of American homeowners, and First American says its new solution will improve pull-through and closing times.

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Title Insurance Premiums Decrease in Second Quarter

Title insurance companies wrote $2.30 billion in premiums throughout the second quarter of 2011, down from $2.33 billion in the second quarter of 2010, according to the American Land Title Association's (ALTA) preliminary 2011 second-quarter market share analysis. At the same time, premiums increased in 21 states and Washington, D.C. The biggest premium gains were seen in Iowa and South Dakota. Fidelity underwriters claimed the largest market share, with more than a third of the new business.

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First American Title Announces Three Key Hires

First American Title Insurance Company has named Kurt Pfotenhauer EVP and vice chairman, responsible for maintaining executive-level relationships with the nation's largest money center banks and assisting with political and legislative relations for the corporation. First American Title also announced that it has added two key executives to its mortgage services division. Christos Bettios has been named chief information officer of the business unit and Steven Ferringer has been appointed SVP of enterprise relations.

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First American Data Tree Receives Patents for Property Search Inventions

The U.S. Patent and Trademark Office recently awarded two patents to First American Data Tree LLC, a provider of digital land records. The company received the first for an invention that allows users searching an electronic real estate database to select from several similar entries suggested by the system by using a specific type of search logic. The company's second invention involves collecting and validating property data at its source, whether locally or remotely, by using a mobile device.

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First American Data Tree Announces New Data Services Portal

First American Data Tree, LLC, the nation's largest provider of digital land records, released its newest portal, ParcelIQ.com, this week. The new browser-based platform allows lenders to order and receive data elements used in the loan decision-making process, including documentation to validate ownership, determine a property's current equity status, and evaluate risk.

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Title Insurers Forego Guarantees on Foreclosure Paperwork Accuracy

Title insurers are voicing their confidence in mortgage servicers' ability to correct foreclosure paperwork problems. They've decided not to require banks to consent to agreements vouching for the validity of foreclosures, after talks between the two groups reportedly fell through surrounding large-scale indemnity arrangements. A blanket indemnity agreement to cover insurers against ""robo-signed"" foreclosures had been drafted, but title insurers say banks' actions to remediate deficiencies make it unnecessary.

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First American Title Launches Mortgage Services Division

First American Title Insurance Company recently introduced a new Mortgage Services division, which will address the title, settlement, and valuation needs of residential originators with national retail platforms. The new business unit will replace two legacy divisions of First American Title Insurance Company: National Lenders Advantage and Equity Loan Services.

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First American’s Q2 Earnings Up 18% Over Last Year

First American Financial Corporation reported Tuesday that its net income during the second quarter was $33.8 million, or 32 cents per share. The Q2 profit posted by the title insurance and settlement company follows its spin-off from CoreLogic just two months ago and represents an 18 percent increase compared to a year earlier. First American says its average revenue per order increased 20 percent, thanks to a shift in the order mix to higher premium resale transactions.

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First American Adds Key Players to Trustee Divisions

First American National Default Title Services, a division of First American Title Insurance Company, announced this week that it has added two key team members to its trustee servicing and sales divisions. Cathe Cole-Sherburn has joined the company as SVP of the Trustee Servicing Solutions division (formerly LoanStar Trustee Services). Milt Baker has been appointed SVP of the Western States Trustee Sale Guarantee division.

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