The next wave of servicing regulation is coming – Are you ready?

Join this webinar to learn what servicers need to know about recent and upcoming servicing compliance regulations and strategies experts are implementing to prepare for servicing regulatory audits.

In a purchase market, rookie LOs may struggle

Rookie LOs in 2020 could ride the refi wave and rack up a hefty monthly paycheck without Herculean effort. But these days, they'll have to sing for their supper.

Logan Mohtashami on trends in forbearance exits

In this episode of HousingWire Daily, Logan Mohtashami discusses several hot topics in the housing market, including recent trends in forbearance exits and future homebuyer demand in the midst of inventory shortages.

Natural disasters and forbearance: What borrowers and mortgage servicers need to know

With a rise in natural disasters, including wildfires, hurricanes, floods, tornadoes and mudslides. The mortgage industry needs to be proactive in examining programs to help borrowers recover.

Closing

First American, Stewart Title and Old Republic report for 2Q

First American and Stewart show gains from the first quarter

Three of the “Big Four” title insurers — First American Financial, Old Republic and Stewart Title — released their second-quarter earnings this week. Fidelity National will release its second-quarter earnings on Aug. 3.

First American reported $2.3 billion in total revenue for the second quarter, a 41% increase year over year and up from $2 billion in the first quarter of 2021. Net income in the second quarter was $302.3 million, or $2.72 per diluted share, compared with net income of $170.7 million, or $1.52 per diluted share, in the second quarter of 2020, said Dennis Gilmore, First American CEO.

“We also benefited from high productivity bolstered by our ongoing data and title automation initiatives,” Gilmore said in a release. “Our title segment posted a pretax margin of 19.1%, the highest in the company’s history.”

Stewart Title reported $802 million in total revenue for the second quarter. Net income in the second quarter was $94.8 million of net income, at $3.50 per diluted share. That’s up from $54.2 million net income, at $2.01 per diluted share, in the first quarter of 2021, and up from $34.1 million, at $1.44 per diluted share, for the second quarter 2020.

Stewart has been on an acquisition frenzy in the past 18 months, closing deals to acquire 13 companies — including Cloudvirga, NotaryCamPro Tek Valuation Intelligence, United States Appraisals, and A.S.K. Services, just in March.


How tech can improve the title experience without removing the human element

HousingWire Editor in Chief Sarah Wheeler speaks with Grant Brittain, SVP, Title Sales at Radian, about overcoming title challenges using automation.

Presented by: Radian

Old Republic reported total revenue of $2.25 billion in the second quarter of 2021, and a net income of $316.4 million — down from $2.36 billion and $502.1 million, respectively, in the first quarter of this year. On a per-share basis, the Chicago-based title company said it had a profit of $1.05. Earnings, adjusted for investment gains, came to 73 cents per share.

“Total and per share year-to-date net income reflect significant increases in the fair value of equity securities by comparison to 2020 when equity markets were disrupted by the onset of the COVID-19 pandemic,” Old Republic stated in a release. “Title Insurance continued to experience robust growth in premium and fee revenues as low interest rates and a favorable real estate market persisted.”

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