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Old Republic’s net income was down over 55% in 2022

Housing Wire

The rapidly cooling housing market in 2022 was not kind to Big Four title insurer Old Republic. While the century-old firm, which is celebrating its 100 th anniversary in 2023, did generate net income for both the fourth quarter of 2022 as well as for the year as a whole, it was down substantially last year. million, down from $627.0

Insurance 374
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Loan buybacks haven’t disappeared, but they are trending down

Housing Wire

The loan repurchase trend that began to sting many mortgage originators in 2022 appears to finally be winding down, according to a recent report by Sterling Point Advisors and Augment Analytics. It makes sense that the investors are asking lenders to ward off as many problems as possible [via QC efforts] before a loan is made.

Investors 413
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National Mortgage Insurance integrates with Vesta LOS

Housing Wire

The technology integration enables lenders to obtain price quotes and order National MI’s real-time, risk-based mortgage insurance through its Rate GPS tool instantly without leaving the Vesta LOS platform. Its investors include Andreessen Horowitz, Bain Capital Ventures, Conversion Capital, Index Ventures, and Zigg Capital.

Insurance 339
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What’s influencing the increase in REO acquisitions?

Housing Wire

HousingWire recently spoke with Michael Chew, SVP of Fulfillment, Asset/Rental Management at Consolidated Analytics , about REO assets, the economic factors influencing the increase in REO acquisitions and how technology can help with REO asset management. We also see investor demand remain strong and an uptick in owner-occupied purchases.

Inventory 416
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Proptech startup Courted grows its roster of brokerage partnerships 

Housing Wire

The firm raised $6 million in seed funding in May 2022. Human Capital led the round with participation from Lakehouse Ventures , Second Century Ventures and other angel investors. Courted was notably invited to join the REACH Class of 2022, a technology scale-up program backed by the National Association of Realtors (NAR).

Brokerage 377
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Clear Capital’s AURA to automate appraisal review

Housing Wire

Real estate valuation technology company Clear Capital unveiled an automated underwriting risk analyzer solution called AURA on Tuesday. Through the AURA API solution, technology partners can provide lenders with a consolidated version of all the necessary data to assess the risk associated with an appraisal.

Appraisal 334
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This growing IMB aims to capture leads through its proprietary tech, not agent referrals

Housing Wire

The New York-based independent bank exceeded its 2022 production volume of $400 million in August, but the end goal is far more ambitious: The company is aiming to produce between $3 billion to $5 billion in origination volume annually. Target buyers for Cliffco include non-traditional buyers seeking investor loans.