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This system worked remarkably well until fraudsters developed technology to defeat the notarial process. Sophisticated printers and software turned out fake documents that could fool even the trained eye, and notary stamps, once symbols of trust, became available for purchase online. The damage has already been done.
Mortgage tech firm TRAiNED Inc. TRAiNED named Mark Cunningham, a co-founder of Sales Boomerang , as its new CEO. Department of Homeland Security and title insurance company Charter Title. hired two executives as it looks to take the company to its next phase of development.
Servicing teams must manage shifting delinquency rates, regulatory demands that may pivot with each new administration, and ever-increasing operational costs while keeping their fingers on the pulse of the modern consumer and advancing technology. Providing guidance and support during this process will be crucial for servicers in 2025.
According to a survey of 783 title insurance entities nationwide conducted by ALTA and NDP Analytics, 28% of title insurance companies reported at least one SIF attempt in 2023, and 19% reported an attempt during the month of April 2024 alone. Fortunately, most SIF cases are identified and addressed before closing.
Fraud detection Perhaps the greatest existential threat to the real estate and title industries, fraud is increasingly becoming more sophisticated, leveraging advanced technologies to deceive and exploit vulnerabilities. So, use caution and always double-check the results. In fact, if used irresponsibly, it can lead to catastrophic results.
Furthermore, servicers can leverage these relationships to approach consumers with value-added services including asset protection, insurance products, home improvement loans, and maintenance options. Revenue can also skyrocket, as well-trained staff with the right servicing software can service 700 or more loans individually.
Her experience has landed her several speaking engagements at training seminars, conferences, and continuing legal education courses on real property issues. We achieved this through a series of impactful conferences, engaging webinars, on-site servicer training sessions, servicer certification courses, and our regular publications.
To ensure the safety of your digital assets and sensitive information, it’s important to make sure all users are well-informed about cybersecurity and receive periodic training. To reduce risks , we’ll explore why empowering your team through education and training is essential to mitigate risks and keep your business secure.
As the mortgage rate environment became increasingly volatile in August and early September, one in three title insurers reported order volume that was below or far below average. One of the things that we are currently working on is a new consumer facing website that is focused solely on bringing talent into the title insurance field.”.
The new interface is poised to streamline workflows, enhance efficiencies and simplify the training process for servicing team members. Mortgage escrow is inherently complex, and the technology lift to handle the many moving parts is significant,” Tim Bowler, president of ICE Mortgage Technology, said in a statement.
Tim Bowler, the president of ICE Mortgage Technology , appreciates a good analogy. Treasury official says that the mortgage technology giant’s integration of Black Knight isn’t dissimilar to building a rail line. But MSP, the flagship servicing technology engine acquired in the $12 billion Black Knight deal, runs on 2.01-meter
The title insurance industry generated $6.8 billion in title insurance premiums in Q3, marking the industry’s best quarter ever. HousingWire: What aspects of the title process can most benefit from technology? Nominations for HousingWire’s Tech100 award are now open through Friday, December 17, 2021.
Recognizing the most innovative technology providers in the mortgage industry, MortgagePoints Tech Excellence Awards highlight the companies that have developed cutting-edge solutions, improved operational efficiencies, and have enhanced the mortgage process through technology.
As part of a larger global company offering a wide range of end-to-end solutions, we provide integrated products and technology far beyond full-service mortgage fulfillment. Plus, we offer appraisals and field services through other Altisource’s lines of business, including insurance through CastleLine.
Real estate technology company Doma Holdings, Inc. Doma, which uses machine intelligence and proprietary technology solutions, partners with service providers through the AgentMarketplace program. Doma Academy also provides resources like webinars and training to prevent wire fraud. Title and closing firms use paymints.io
In today’s rapidly evolving digital landscape, it is crucial to understand and effectively manage cybersecurity risks in order to safeguard your title insurance or real estate business. Regular training sessions and awareness programs can empower employees to recognize and respond to threats effectively.
Bettina Arthur has been promoted to vice president of sales enablement at Westcor Land Title Insurance Company. Arthur joined Westcor in 2011 and served as director of training prior to this new role. Arthur joined Westcor in 2011 and served as director of training prior to this new role.
While this was once a necessary business strategy, the technology now exists to implement a much more efficient approach. The technology to do this is possible and in many cases, has even been built – it just hasn’t been properly implemented. We have the means today to shift lenders to far more efficient staffing and personnel models.
The pandemic has brought to the surface the glaring inefficiencies – limited trained staff, multiple claims systems, inefficient manual processes – and (unnecessary) financial costs that have plagued the claims servicing process for decades. Servicers are taking a harder look at technology to reinvent the way they process claims.
Little is a customer-centric visionary, with a background in operations, training, business development and management across nearly all channels of the mortgage services industry. He has been a part of the Fidelity National Financial (FNF) family of companies for nearly 10 years.
For the past several years, the FBI says BEC has consistently been the largest dollar loss by victims’ crime typology reported to the IC3, as “criminals have been refining their exploitation of technology, especially the internet, to carry out financial crimes.” According to a Q3 analysis by FundingShield, 47.9% Presented by: FundingShield.
Vice President of Technology Services. Nexsys Technologies. VP, Sales Training. Mortgage Insurers. Westcor Land Title Insurance Company. WFG National Title Insurance Company. Enact Mortgage Insurance. Executive, Software Engineering & Technology. Enact Mortgage Insurance. Linda Case.
Meanwhile, homeowners insurance is increasingly becoming a bigger issue for consumers and servicers. In California, Texas and Louisiana, as well as portions of other states that are at risk for natural disasters , just getting homeowners insurance is getting more difficult as large insurers stop writing coverage.
Director of Product, Origination Technologies. Enact Mortgage Insurance. VP, Technology. EVP, Training and Operational Support. ICE Mortgage Technology. Chelsea Goyer. National Head of Brokerage. Senior Director of Strategic Growth and Acquisitions. OriginPoint. Craig Rebmann. Black Knight. Dave Herbst. Jory Beech.
Do loan officers need more technology than they currently have? Will new technology change anything? They do not need more technology. The tech we have that isn’t used isn’t about training or talent but the parts that are optional are not used. So, my question was, does the LO need more technology than they have now?
Payload, a fintech company focusing on automated payments with API architecture, on Tuesday announced a partnership with technology services provider Premier Data Services , to launch an integration with SoftPro, an escrow and closing software. To boot, check fraud is also on the rise.
Graduates of the program commonly find job placements with lenders, technology companies, fintech and proptech firms, or title companies. Many Axis trainees come from sales-based careers in hospitality, retail or insurance, which makes it easier to adapt to the mortgage business. But some are completely fresh to the field.
Behind him, the recent financial crisis still cast a cautionary shadow over new business development, but ahead he saw opportunities for a client-centric, tech-focused family of companies in the title insurance and real estate settlement services industry. Now, at WFG’s 10-year anniversary, this vision holds even more relevance.
As existing-home sales continue to slide and mortgage rates rise ever higher, all but eliminating any hope for refinance transactions, the title insurance industry is doubling down on technology. At the same time, firms overlook the cultural impact the technologies could have, causing us to underestimate their impact on society.
When we started, the idea was to obtain exterior photos as fast as possible, at a time when Uber, Lyft and marketing technology was advancing, and anyone with a smartphone could get exterior photos,” said Tomaszewski, who worked to turn his idea into ProxyPics. The State of Appraisals in 2022. Presented by: Reggora.
Technology equals efficiency. A lot of lenders haven’t spent much money on technology for home equity processes. They’re still using legacy in-house technology for their loan origination system and their processes simply aren’t efficient. They include automated title, digital signing solutions and eClosing offerings.
It’s scary out there,” a technology leader at a top lender said anonymously, adding that there were recent cyberattack attempts at his company. Training their workforce is also crucial, they said. Valverde said the problem affects homeowners, investors and insurance companies, and Ginnie Mae is “a bridge for all those counterparties.”
Well-trained staff using the right mortgage servicing software can service 700 or more loans per employee. Late fees and commissions on optional insurance can also increase revenue. In addition to benefiting customers, in-house servicing generates significant revenue.
It’s significantly impacting the title insurance industry now and will only become more prominent as the boomer workforce continues with retirement plans. The solution to these rising threats — as is the case with most cyber-defense strategies, is proactive planning, oversight, and training. Financial and operational headaches.
As a refresher, “redlining” means that no matter the features or amenities that a home provides, if the home is in a neighborhood with Black residents (homeowners or renters), traditional (and more affordable) lending and insurance would be denied — although a few sub-prime options tend to circle these communities like sharks.
Join the ‘Work to Zero’ movement with safety-enhancing technologies in your workplace Often reserved for thoughts of the Industrial Revolution, the idea that death in the workplace is still a threat today seems unimaginable. ” — The Center for Construction Research and Training (2019). In the U.S.,
The title insurance industry is on the front lines in a never-ending war with the fraudsters. When I first got into the business we were still doing closing statements with that running tabulators and calculators and throughout the years technology has improved so many things but with that technology come threats.
courted.io/ Real Estate Sales New York, NY CoreLogic corelogic.com/ Real Estate Sales, Multifamily / CRE and Real Estate Data and Analytics Irvine, CA Constellation1 constellation1.com/
CM : Firstly, reverse mortgages, whether government-insured or proprietary, are non-recourse loans. Furthermore, we provide our partners with user-friendly technology to streamline their work and expedite loans and do-it-yourself marketing collateral that they use to market to prospective borrowers effectively. Not tax advice.
I have been following efforts to address that scarcity, including through technology and through recruitment and training efforts (particularly in connection with diverse appraisers). The lack of available appraisers, particularly in certain locations and in connection with certain loan programs is a persistent obstacle.
The brilliant sunshine outside the Miami Beach Convention Center was matched by summit attendees who effused that crypto assets and blockchain technology will enter into residential real estate and benefit agents, investors, and tech wheelers-and-dealers alike. A third person approached and said, “We should talk.”.
What it means is there is a higher percentage of potential fraud per file,” Elizabeth Berg, the vice president for education and training at FNF Family of Companies , told attendees of the American Land Title Association’s ALTA One conference on Thursday. Fewer homebuying transactions means less fraud , right? “No! It is brute force.
However, it still appears that lenders are focusing their technology investments on the point of sale. A 2020 ICE Mortgage Technology survey confirmed this, reporting that 58% of borrowers were affected in their decision making by the presence (or lack thereof) of an online application. This comes as no surprise.
While the pandemic thrust RON into the mainstream of the industry, many are still wondering how the technology can benefit them and the closing process going forward. The process includes a notary and a document signer using secure audiovisual and digital signing technology to finalize any financial document.
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