Housing Wire

JANUARY 27, 2023

The rapidly cooling housing market in 2022 was not kind to Big Four title insurer Old Republic. million in Q2 2021. million in Q2 2021. million for the full year in 2022 compared to $1.534 billion in 2021. During Q4 2022, Old Republic’s title insurance net premiums and fees generated were down to $836.4

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Housing Wire

APRIL 29, 2022

While other “big four” title insurers discussed the “transitional period” in the housing market during their first quarter 2022 earnings calls with investors, Old Republic International Corp. ’s million the firm recorded during the first quarter of 2021. s president and CEO, Craig Smiddy decided to take a bolder stance. “I

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Insurance Investors Housing Market Law 355

Housing Wire

JULY 28, 2022

executives remained positive during their earnings call with investors Thursday afternoon. Our reported second quarter results for both revenue and pretax operating income rank fifth in terms of all-time highs, trailing only the fourth quarter of 2020, and the second, third and fourth quarter of 2021.”. “Our million, dropping 4.8%

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Insurance Investors Investing Real Estate 310

Housing Wire

DECEMBER 14, 2023

The fees paid to the mortgage-backed security (MBS) investor and lender are next with the accumulated cost of the annual interest payments made to the investor(s) that purchased the MBS bond containing the mortgage, and the lender’s net origination charges at closing plus the accumulated value of the excess interest the lender charges for profit.

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Insurance Property Taxes Buyers Investors 391

Housing Wire

MARCH 15, 2023

The Company still maintains fully insured custodial deposit accounts at Signature,” the document says. “We It is now controlled by the Federal Deposit Insurance Corporation (FDIC). In 2021, when the refi business was strong, loanDepot produced $137 billion in loans. But in 2022, the lender originated just $53.7

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Insurance Investors Real Estate Mortgage 315

Housing Wire

OCTOBER 11, 2023

A number of players in the industry benefit from the risk data, including real estate investors who need additional insights to make informed decisions. This may give investors pause as to whether a particular real estate investment is a sound one.

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Real Estate Insurance Investors Law 399

Housing Wire

FEBRUARY 24, 2022

Another “Big Four” title insurer announced its fourth quarter earnings and yet again the numbers reached historic highs. On its fourth quarter earnings call with investors, Fidelity National Financial announced that its adjusted full-year net earnings came in at $2.3 billion for 2021, a 49% increase over a year prior.

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Insurance Investors Technology Development 348

Housing Wire

OCTOBER 28, 2021

In 2021, Floify’s software, which streamlines the loan origination process by allowing document sharing, and communication between LOs and real estate agents, has helped over 77,000 mortgage applications close each month, according to Porch. Investors reacted positively to the acquisition, with shares increasing by 12% to $19.93

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Mortgage Logistics Insurance Real Estate Agent 370

Housing Wire

DECEMBER 13, 2021

Unlike other fractional investment companies, such as Arrived Homes , reAlpha specializes in short term rentals , touting its product as “ Airbnb ownership without the hassle” and promising investors that they will never be responsible for cleaning after guests or conducting home repairs. reAlpha is a 51% investor in each of the syndicates.

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Investors Investing Insurance Real Estate 368

Housing Wire

APRIL 4, 2023

million in a seed round, the Miami-based cryptocurrency lending platform announced on Tuesday that it launched a product that allows investors in Bitcoin, Ethereum and USDC to use their assets to secure funding for real estate purchases. “The use case for crypto has to go beyond investment potential. Six months after raising $3.5

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Mortgage Investors Retail Investing 337

Housing Wire

MAY 11, 2021

SoftBank Group -backed digital lender Better.com plans to make its public debut in the fourth quarter of 2021 via SPAC , in a deal that would value the company at nearly $8 billion, the firm said Tuesday. billion in title insurance and $1.4 billion in homeowners insurance. a blank check company sponsored by Novator Capital.

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Valuation Insurance Investors Loan Officers 350

Housing Wire

APRIL 1, 2024

Fintechs involved in homeownership investments have been around for nearly two decades, but it wasn’t until recently that a handful of them have been backed by big investors seeking to take the HEI product mainstream. To put a sense of scale on that, insurance capital is about $8 trillion, and about half of that goes into the bond world.”

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Finance Investing Real Estate Agent Real Estate 373

Housing Wire

JANUARY 15, 2021

Porch, led by CEO Matt Ehrlichman, acquired home insurance company Homeowners of America , mover marketing and data firm V12 , home inspection company Palm-Tech and roofing contractor software company iRoofing. The big acquisition is for Homeowners of America, an insurance company that operates in six states and is licensed in 31 more.

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Insurance Logistics Technology Inspection 329

Housing Wire

AUGUST 17, 2022

Struggling digital mortgage lender Better.com is teaming up with secretive big data firm Palantir to create a proprietary loan platform that is says will enable Fannie Mae , Freddie Mac and mortgage investors to make “richer and deeper data-driven mortgage capital allocation decisions.”. million profit during the same period in 2021.

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Investors Brokerage Valuation Mortgage 410

Housing Wire

OCTOBER 6, 2021

Better also expects this trend to continue, telling investors in the filing that gain-on-sale levels will remain “depressed through 2021 relative to the levels of the quarter ended March 31, 2021.”. Better has also made strides in real estate and insurance. billion in title insurance and $1.4

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Insurance Investors Real Estate Loan Officers 400

Housing Wire

JUNE 7, 2022

The first, STACR 2021-TO1, was announced in September 2021 and resulted in the $1.6 Through the STACR note offerings, private investors participate with Freddie Mac in sharing a portion of the mortgage credit risk in the reference loan pools retained by the agency. billion worth of notes being properly tendered and accepted.

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Investors Insurance Mortgage Marketing 328

Housing Wire

JULY 19, 2021

Blend’s investors are apparently convinced that the company can radically transform lending, simplifying and digitizing regimented-but-clumsy processes that are still rather paperwork-heavy. Over the last two years, Blend has acquired its own mortgage insurance firm and title insurance firm (the latter in a $422 million deal).

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Insurance Investors Technology Real Estate Agent 381

Housing Wire

MARCH 30, 2021

Real estate tech company Spruce announced a joint project Tuesday with insurtech platform Digital Partners and American Digital Title Insurance Company to offer a fully underwritten title commitment that it says can be completed in minutes. In September, the companies announced a joint project to offer cost-effective title insurance.

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Insurance Real Estate Investors Clients 239

Housing Wire

MAY 11, 2022

Title insurers big and small can’t seem to escape rapidly deflating refinance volume, but Fidelity National Financial still pulled out the second-best quarter ever for title revenue in Q1 2022. On the firm’s first-quarter earning’s call with investors, executives stated that this was Fidelity’s best first quarter on record for revenue.

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Insurance Investors Marketing Clients 360

Housing Wire

FEBRUARY 14, 2023

Modern software automates investor reporting and compliance and creates a more efficient workflow, allowing servicers to effectively service loans in-house. The interest rate on the average 30-year fixed mortgage, which averaged 2.65% in 2021, hit 7% in mid-November 2022 and has been declining since. of all mortgage applications.

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Modernization Insurance Investors Tools 319

Housing Wire

APRIL 28, 2022

After a record breaking year in 2021 , 2022 is off to a slow start for “big four” title insurer First American Financial. Our company delivered good financial results in the first quarter, our seasonally slowest period,” CEO Ken DeGiorgio said during the company’s first quarter 2021 earnings call with investors on Thursday.

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Insurance Investing Marketing Business 343

Housing Wire

JULY 6, 2023

Better.com also spilled red ink in both 2022 and 2021, reporting a net loss of $888.8 We decreased our funded loan volume by approximately 80% year-over-year from $58 billion in the year ended December 31, 2021 to $11.4 As of June 8, Better.com had about 950 team members, a 91% drop from its peak of about 10,400 employees in Q4 2021.

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Real Estate Agents Business Mortgage 360

Housing Wire

MAY 4, 2022

Offerpad may lack the brand recognition and investor money possessed by home-flipping incumbent Opendoor , failed iBuyer Zillow , or of ramping-up iBuyer Redfin. Those numbers compare favorably to a net loss of $233,000 on revenue of $284 million for in the first quarter 2021. million in Q1 2021. billion in revenue.

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Investors Business Valuation Insurance 360

Housing Wire

MARCH 1, 2023

And yes, this certainly has had an impact on insurance companies from coast to coast, as we’ve seen insurers retreat en masse from states such as California , Florida , and Texas , which have all seen record losses in recent years from wildfires, earthquakes, hurricanes, severe winter storms, sinkholes, and more.

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Insurance Supply Chain Design Government 340

Housing Wire

OCTOBER 26, 2023

Thursday was a big day for title firm earnings, with three of the Big Four title insurers reporting their third-quarter 2023 earnings. The day began with Stewart’s Q3 2023 earnings call with investors and analysts. Despite the company’s strong quarter, Old Republic’s title insurance segment did not fare as well. year over year.

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Insurance Business Real Estate Investors 309

Housing Wire

FEBRUARY 10, 2022

The company’s total revenue for 2021 was up 30% from 2020 to a record of $9.2 Despite this increase, First American’s newly appointed CEO , Ken DeGiorgio, said on an earnings call with investors that everyone at the company is proud of these achievements. billion, with $2.4 billion earned during the fourth quarter.

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Insurance Investing Inventory Business 346

Housing Wire

JUNE 27, 2023

Bush and a vice president at Goldman Sachs before starting at the lender in 2021, listed several alleged violations related to lending practices. Investors looking to support low-income families would not purchase the lender’s loans if they knew they were provided to wealthy individuals or celebrities, the lawsuit states.

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Investors Law Insurance Lending 308

Housing Wire

NOVEMBER 11, 2022

Even though revenue is down and open title orders are down from last year, there’s a silver lining for Big Four title insurance firm Fidelity National Financial : it’s still in line with business in 2019, one of the best years on record. And the pipeline is still good,” Mike Nolan, Fidelity’s CEO, told investors. “If

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Insurance Business Investors Housing Market 323

Housing Wire

AUGUST 24, 2023

The deal with Aurora was announced in May 2021, when historically low-interest rates boosted a SPAC mania in the U.S. At that time, the company was valued by its investors at $7.7 For things like homeowner’s insurance , title insurance, and realtors, we’ve now just become a marketplace.

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Insurance Mortgage Realtors Business 364

Housing Wire

FEBRUARY 23, 2023

Despite the closed title purchase order volume dropping 36% year over year and the number of closed refinance orders dropping 79% compared to the fourth quarter of 2021, Fidelity National Financial still managed to record a strong Q4 in 2022. billion in Q4 2021) and a net income of $198 million. billion for Q4 (down from $3.1

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Marketing Business Insurance Mortgage 304

Housing Wire

MAY 26, 2021

After reading the recent report from the Federal Housing Finance Agency on the performance of Fannie Mae and Freddie Mac’ s credit risk transfer programs, anyone unfamiliar with the purposes of CRT might understandably conclude that the GSEs vastly overpaid capital market investors and insurance providers to transfer credit risk off their books.

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Insurance Investors Design Finance 279

Housing Wire

NOVEMBER 8, 2022

Relatedly, OpenClose’s customers will be able to use MeridianLink’s loan pricing engine, which can run parallel mortgage insurance pricing, an integrated fee engine and comparison reports. The announcement comes shortly after MeridianLink, which is owned by private equity giant Thoma Bravo , posted its quarterly earnings results.

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Mortgage Lending Technology Insurance 363

Housing Wire

FEBRUARY 10, 2023

The two Big Four title insurers announced their fourth quarter earnings on Thursday, hosting earnings calls with investors and analysts. For the full year 2022, First American’s revenue was down 18% from 2021 to $7.6 billion in 2021. from 2021 to a record $1.0 At Stewart , Q4 revenue came in at $665.9

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Buyers Housing Market Investors Insurance 286

Housing Wire

MARCH 9, 2022

the M&A-hungry parent of cloud-based real estate brokerage Fathom Realty , achieved supercharged growth in 2021. million GAAP net loss for 2021, despite having increased revenue 87% to $330.2 On a call with investors Tuesday evening, CEO Josh Harley said the firm is looking to achieve profitability “in the near future.”. “A

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Inventory Brokerage Realty Real Estate 317

Housing Wire

JANUARY 26, 2022

Polly, a software-as-service mortgage-technology firm that operates a loan-trading platform , has raised $37 million through a new funding round, its third since launching in 2019 — bringing the total raised from investors to $57 million. It operates more than 650 branches nationwide and employs some 4,000 people.

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Modernization Mortgage Lending Investors 314

Housing Wire

JUNE 1, 2022

The same 2021 Pew survey , 70% of Americans said young adults today have a harder time buying a home than their parents’ generation did. According to the Mortgage Bankers Association (MBA), total loan production expenses increased to an all-time high of $9,470 per loan in the fourth quarter of 2021. Consumers are worried too.

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Insurance Real Estate Agents Technology 369

Housing Wire

SEPTEMBER 10, 2021

Accomplice led the round with participation from repeat Orchard investors FirstMark , Revolution Growth , First American , Juxtapose and a syndicate of new investors. Along with lending, the company’s platform includes title and insurance offerings: Orchard Title and Orchard Insurance.

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Lending Insurance Investors Real Estate 362