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Title industry: We contributed $30 billion to GDP in 2022

Housing Wire

The title insurance and settlement services industry directly generated $30 billion of U.S. gross domestic product (GDP) in 2022, according to a report commissioned by the American Land Title Association that was published on Wednesday. economic impact of the title industry. The report measures both the direct and broader U.S.

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FHFA’s pilot to waive lender title insurance on refis faces opposition

Housing Wire

President Joe Biden’s new plan to lower housing costs includes a pilot program that waives the requirement for lender’s title insurance on certain refinance transactions, according to the White House. Meanwhile, homeowners can always purchase their title insurance policy or AOL if they choose.

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4 ways to effectively train your title agency employees

Housing Wire

For title agency owners and professionals, finding the time and resources to train your team can be challenging. For instance, a blending training program could include in-person sessions on the fundamentals of title insurance , followed by online modules that reinforce and add context. ” We agree.

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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. Despite declines in title transaction volume, Stewart’s title segment still reported an operating revenue of $503 million for Q4, down 14% annually, and a pretax income of $27.3

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Title waiver pilot program will have little impact on the industry: Fitch Ratings

Housing Wire

Despite the protests of the title insurance industry, Fitch Ratings does not believe the lender title insurance waiver pilot program for certain refinance transactions announced by the Federal Housing Finance Agency (FHFA) on Thursday will have an impact on title insurer ratings.

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Consumer protection is what title insurance is all about

Housing Wire

In fact, for many new buyers entering the market this year, this will be the first time they ever hear the words “ title insurance.” Against this backdrop, it is critical that new homebuyers and homeowners alike understand what title insurance is, its benefits and the importance of asking about discounts available to them.

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Title premium volume in Q3 falls 24% annually

Housing Wire

Title premium volume continued to drop during the third quarter of 2023, as limited housing supply and high interest rates took their toll on home sales. During the third quarter of 2023, the title industry generated $4.1 During the third quarter of 2023, the title industry generated $4.1 Commonwealth Land Title Insurance Co.

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