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Title insurance premium volume dropped 37% in Q2 2023

Housing Wire

Title premium volume continued to trend downward during the second quarter of 2023 as high mortgage rates and low housing inventory continued to plague the real estate industry. During the second quarter, the title industry generated $3.91 billion in title insurance premiums, down from $6.21 Commonwealth Land Title Insurance Co.

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Fitch: Title industry heavyweights maintain outstanding rating despite headwinds

Housing Wire

Despite the economic headwinds, the title industry remains strong, according to Fitch Ratings’ title industry September 2023 Peer Review. With premium volume down, title companies have cut expenses, resulting in the aggregate title operating margin for the Big Four rising 3% quarter-over-quarter in the second quarter of 2023.

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Fannie Mae scraps title waiver pilot program

Housing Wire

The American Land Title Association (ALTA) is celebrating a huge win in its ongoing war against title insurance alternatives. News of the rumored pilot program came in March, roughly a year after Fannie Mae first announced that it would be accepting attorney opinion letters (AOLs) in lieu of title insurance in limited circumstances.

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Opinion: Title companies committed to promoting homeownership for all

Housing Wire

That is why it is critical that the title insurance industry — alongside our industry partners — has made it a priority to help more Americans benefit from homeownership by making the process more affordable and accessible. Fees add up in transaction While the cost of title insurance is less than.5%

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Doma sells Midwest and Texas title operations

Housing Wire

Related to its goal of achieving profitability , title insurer Doma announced Thursday that it had sold its title operations in Texas, Minnesota, Wisconsin, Illinois and Indiana to two different companies. Chicago-based title firm Near North Title Group acquired Doma’s 30 offices in the Midwest. million, compared to $50.0

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Title insurer Doma sells Florida retail offices

Housing Wire

A week after announcing a pivot in its business strategy , publicly traded title insurance firm Doma announced the sale of its retail operations in Florida on Tuesday. Doma’s Florida operation was purchased by Near North Title Group for an undisclosed sum. Near North Title Group purchased Doma’s Midwest locations in July.

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Opinion: Automate title status check info with AI

Housing Wire

It’s not a point of pride or badge of honor for any mortgage, title, real estate or valuation firm. Much of that average time to close tends to pile up in the title and settlement stage of the process. Hoyt Mann is a co-founder and president of McKinney, Texas-based alanna.ai, a conversational AI assistant for title agents.

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