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Title earnings marred by slow market, cybersecurity incidents

Housing Wire

Despite slower housing market conditions , Big Four title firms Stewart , First American and Fidelity National Financial all managed to earn profits in 2023. We believe that these long-term investments coupled with thoughtful near-term expense management will improve our structure and financial performance in the long term.”

Title 370
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Stewart focuses on scaling operations

Housing Wire

Like its big four counterparts First American and Old Republic, Stewart , the smallest of the four largest title underwriters , still managed to turn a profit despite challenging housing market conditions. When broken into residential versus commercial, residential title revenue dropped 24% year over year to $210.4

Title 278
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Q3 earnings for title’s Big Four are a mixed bag

Housing Wire

Although the current economic environment continues to pose significant short-term challenges, we have materially improved our business, creating a strong and more resilient enterprise that will thrive over a full real estate cycle,” Fred Eppinger, Stewart’s CEO, said on the Thursday morning call. million, down from $716.4 million a year ago.

Title 304
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Cerberus Capital Management to acquire Spring EQ

Housing Wire

The terms of the deal were not disclosed. Meanwhile, Spring EQ will be able enhance its platform through further investments in technology, new commercial opportunities and growth-based operational initiatives, the company said. The deal is subject to customary closing conditions and regulatory approvals. accelerates.

Equity 345
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Title firms turn profits in Q2 despite the headwinds

Housing Wire

Despite recording stronger financial results during the second quarter of 2023 than the first, executives at both First American Financial and Old Republic did their fair share of bellyaching over current housing market conditions during their firms’ Q2 2023 earnings calls on Thursday. “We billion and $138.5 million in net income.

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Colonial Savings to exit mortgage origination business

Housing Wire

The origination activity will cease effective July 31, 2023, but all outstanding mortgage loans will continue to be serviced in accordance with the terms and conditions of the agreements. The firm, which operates a network of six consumer and commercial banks in North Central Texas, claims it has a $20 billion servicing portfolio.

Mortgages 353
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Will the Commercial Real Estate Market Crash in 2023?

Marco Santarelli

The commercial real estate market is currently facing a looming crisis that experts predict could surpass the challenges experienced during the 2008 financial downturn. Additionally, with a significant number of commercial mortgages due for refinancing in the coming years, the situation is becoming increasingly precarious.