Articles Tagged with ''title insurance and settlement services''

Massive title insurance merger: Fidelity National buying Stewart for $1.2 billion

A title insurance monolith is born
The title insurance world is about to get a whole lot smaller, as Fidelity National Financial is set to buy Stewart Information Services in a massive $1.2 billion deal. Fidelity is already one of the nation’s largest title insurance and settlement services provider, and now, it’s set to acquire one of its biggest competitors.
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Former title company owner gets 12 years for mortgage fraud and tax evasion

Defrauded lenders out of $1.1 million
The former owner of a New Jersey title company will spend the next 12 years in prison after being convicted of defrauding banks out of $1.1 million by using fake loan applications for residential mortgages. In addition to defrauding the banks out of more than $1 million, Mark Andreotti was also convicted of failing to pay more than $450,000 in personal taxes.
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Qualia raises $33 million to improve home closing process

Funding round led by Silicon Valley’s Menlo Ventures
Qualia, a real estate technology company that focuses on the home closing process, announced this week that it raised $33 million in its latest funding round. Qualia has grown significantly since its founding in 2015, and now handles 5% of the national real estate market. The company said that expects the new funding to aid in its continued growth.
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Title Source unveils massive rebranding, becomes Amrock

Company says new name is reflective of technology focus
Title Source, the title insurance, settlement services, and valuations provider, just unveiled a massive rebranding effort and will now be known as Amrock. In an exclusive interview with HousingWire, Amrock CEO Jeff Eisenshtadt said the company outgrew its previous name. “This is a major milestone and major turning point for our business,” Eisenshtadt told HousingWire, adding that the new brand is reflective of the company’s focus on technology.
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Blackstone’s Incenter completes acquisition of Agents National Title Insurance Company

Continues Incenter’s recent string of acquisitions
Over the last few years, Incenter, a Blackstone Group portfolio company, expanded its business offerings through a series of deals, including expanding into title and settlement services by acquiring Boston National. But the Boston National deal wasn’t Incenter’s only move into title and settlement services.
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Direct-to-consumer title insurer OneTitle expands to New Jersey

Acquires “significant interest” in New Jersey’s Sovereign Title
Until now, direct-to-consumer title insurer OneTitle National Guaranty Company operated only in the state of New York. But thanks to a “strategic partnership” between OneTitle and New Jersey’s Sovereign Title Agency, OneTitle is expanding into the Garden State.
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Financial services groups ask Congress to pursue new data breach rules

Bankers, title companies lay out vision for data security legislation
Credit reporting agencies are far from the only companies that house consumers’ data. Banks, credit unions, insurance companies, title insurers and other companies are also tasked with safeguarding the information they possess. And now, the trade groups that represent many of those companies are also asking for the government to enact new data security rules.
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Notarize partners with Westcor to bring fully digital mortgage closings to 16 new states

Digital closings now available in Florida, Ohio, Nevada, and other states
When Notarize, a digital platform that allows for legal, online document notarization, launched its fully digital mortgage closing solution last year, the program was initially available in Washington, Illinois, Virginia, and Montana. But now, thanks to a partnership with Westcor Land Title Insurance Company, Notarize is bringing fully digital mortgage closings to 16 new states.
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New York cracks down on title insurers with new rules for kickbacks, fees

Strengthens rules first established in 2015
Building on an effort first launched in 2015, the New York Department of Financial Services announced Tuesday that it is cracking down on “unscrupulous practices” in the title insurance business and establishing new rules surrounding kickbacks and the fees that title insurers charge to customers.
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