Items Tagged with 'title insurers'


  • Here’s what title insurers need to know about the feds’ new rules for all-cash real estate deals

    Deloitte experts on FinCEN’s new requirements
    [Expert commentary] Last month, the Treasury Department’s Financial Crimes Enforcement Network announced that it was expanding on its rules that require title insurers to report buyers’ identities and the source of the funds for certain residential real estate deals. Here's what title insurers need to know about the new rules and what they can do to comply with them.
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  • Feds significantly expand investigation into all-cash real estate deals

    Title insurance companies’ reporting threshold lowered to $300,000
    Title insurance companies in 12 of the nation’s largest markets will now have to provide federal authorities with substantial details on all real estate deals of $300,000 or more if the buyer is paying all cash. The requirement comes at the hands of the Treasury Department’s Financial Crimes Enforcement Network, which is significantly expanding its investigation into whether foreign buyers are using shell companies to buy U.S. real estate in order to launder money.
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  • Feds target luxury real estate wire transfers in money laundering investigation

    Nearly one-third of cash sales tied to "illicit activity"
    The federal government's recent investigation found that potentially illicit activity is behind more than 30% of cash purchases from foreign buyers in select U.S. property markets. FinCEN will now target what some are calling a “gaping loophole” in its initial investigation – wire transfers.
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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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  • Incenter expands into title services with latest acquisition

    Growth of Blackstone portfolio company continues
    Incenter, which recently expanded by launching a mortgage-focused broker-dealer called Incenter Securities Group, is expanding again – into title and settlement services. Incenter, a Blackstone portfolio company, announced Monday that it acquired Boston National, a provider of title and settlement services headquartered in Charlotte, North Carolina.
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  • C2C Title Services acquired by ARMA Acquisition

    Company is 'excellent fit' for growing investment group
    ARMA Acquisition, an international investment group managing a portfolio of complementary service providers to the financial services, real estate and legal services industries, announced the acquisition of C2C Title Services, a nationwide provider of title information products and related services to the mortgage, legal, financial and underwriter communities.
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  • Title Source launches massive hiring push

    Company expanding workforce by nearly 16%
    Title Source, the Detroit-based provider of title insurance, property valuations and settlement services, is launching a massive hiring push that will see the company expand its workforce by nearly 16%. Title Source, which is a sister company of Quicken Loans, currently employs a staff of approximately 2,200 and plans to hire 350 new employees.
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  • Low interest rates drive First American revenue up 10%

    Refinance orders increased 62% in first quarter
    Driven by a 15% increase in direct title orders closed and a 62% increase in refinance title orders, First American Financial saw its revenue grow by 10% in the first quarter. According to First American, its total revenue rose to $1.11 billion in the first quarter of 2015, up from $1.01 billion in the same time period last year.
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  • First American acquires TitleVest

    Acquisition will expand title insurer’s New York presence
    First American Title Insurance Company, a provider of title insurance and settlement services and the largest subsidiary of First American Financial, is set to expand its operations in New York.
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