Articles Tagged with ''ALTA''

American Land Title Association CEO Michelle Korsmo stepping down

Trade group’s longtime leader leaving for the liquor business
For the first time in nearly seven years, the American Land Title Association will soon have a new leader. The trade group, which represents more than 6,200 title insurance companies, title and settlement agents, independent abstracters, title searchers, and real estate attorneys, announced this week its longtime CEO, Michelle Korsmo, is stepping down to move to a vastly different industry.
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Monday Morning Cup of Coffee: Goldman Sachs teases big move into mortgages

Marcus for mortgages? Maybe
Once a big player in mortgage lending, Goldman Sachs’ footprint in housing finance has gotten significantly smaller since the financial crisis…but that could be about to change. Is Marcus for mortgages coming soon? It appears that's something the megabank is considering. That, and more, in your Monday Morning Cup of Coffee.
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ALTA urges CFPB to warn consumers about real estate funds phishing scams

Schemes involve hackers posing as agents, title companies to steal mortgage funds
Last year, the Federal Trade Commission and the National Association of Realtors warned consumers they could be the next victims of growing trend of mortgage closing cost phishing schemes. But, according to the American Land Title Association, that warning was not enough to fully prevent future schemes from being successful and consumers are still falling victim to the phishing scams.
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The CFPB needs to fix this title insurance issue with TRID

74 members of Congress agree with ALTA
The Consumer Financial Protection Bureau shocked the industry when it announced it would take another look at the Know Before You Owe rule. And now with the bureau accepting comments and feedback on it, the American Land Title Association is quick to bring up a glitch it sees in title disclosures.
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Do you safely, securely send emails with the new TRID rule?

The correct way to email in lending, real estate
With the new TRID rule increasing time pressures on the exchange of settlement documents, it’s a good time - maybe high time - all real estate professionals assess how they exchange documents with lenders, agents and borrowers. But here's the key: Do you know how to do it securely?
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HUD Challenged Over Alleged RESPA Violations

A title insurer advocacy group has challenged the Department of Housing and Urban Development's practice of using preferred providers of closing and title services on HUD-owned foreclosed properties, saying this practice rings of "required use" and is therefore a violation of the Real Estate Settlement Procedures Act (RESPA).
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RESPA Reform Under Fire From Realtors, ALTA

A hearing at the House Committee on Small Business on Thursday served as the latest platform for industry groups to voice their concerns over proposed changes to the Real Estate Settlement and Procedures Act, with representatives from both the National Association of Realtors and the American Land Title Association taking turns bashing the proposed reform measure as "confusing" and "costly" for consumers.
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