Unique Cloud Computing Solution Offers Efficient and Affordable Way to Adapt to Ever-Changing Regulations in Real Estate Market
ALEXANDRIA, Va.–(EON: Enhanced Online News)–NetLink Resource Group, Inc., a leading provider of custom web application solutions, today announced that it developed the marketing site to support “TitleSphere,” a 100 percent Web-based HUD-1 solution for use by realtors, mortgage lenders, title agents and closing attorneys nationwide, created by Annapolis-based TSS Software Corporation.
“We required a partner who understood the value of developing a marketing site for our cloud-based application”
A key component of promoting the new Web-based solution, NetLink Resource Group developed and designed the online marketing site aimed at driving additional TitleSphere sales leads for TSS Software Corporation. The website can be accessed at www.TitleSphere.com.
“We required a partner who understood the value of developing a marketing site for our cloud-based application,” said Barbara Miller, TSS president and chief operating officer. “As such, NetLink was the ideal partner to provide the development skills and insights required to build out a website that raises awareness of this industry-leading solution.”
Posted via email from Title Insurance
Continuing Ed for Title Agents
U.S. Federal Reserve Chairman Ben Bernanke
(Photo Credit: AP)
By Neil Irwin
The economic outlook has become steadily gloomier over the last couple of months. A major deceleration of growth is already under way, and the risk of a dip back into recession is much higher than it was at the beginning of the summer. Financial markets have fallen steadily, reflecting that risk, as has President Obama’s approval rating.
On one hand, these weak economic results are to be expected. As economists Carmen and Vincent Reinhart documented in a new paper, recessions triggered by severe financial crises are normally followed by extended periods of weak growth and high unemployment like the one we are now seeing.
On the other hand, however, a certain fatalism — that a double-dip recession is inevitable–has crept into a lot of economic analysis lately, and it may be overstating the degree to which we are in dire straits. In fact, there are some reasons for at least modest optimism. A roaring recovery is probably not on the way, but here are five reasons that a slow-and-steady recovery is likely to continue.
Read full article here: http://voices.washingtonpost.com/political-economy/2010/09/five_reasons_to_be_optimistic.html?hpid=topnews
Posted via email from Title Insurance
Continuing Ed for Title Agents
OpenClose Releases “GFE Lockdown” for Enhanced Editing Features in Its Loan Origination Software That Greatly Improves GFE Accuracy
WEST PALM BEACH, FL–(Marketwire – August 31, 2010) – OpenClose Mortgage Software, developers of Web-based, loan origination software, has released the enhanced editing version that improves the accuracy of information flow in the new good faith estimate (GFE). The GFE lockdown “significantly improves” accuracy of loan documents allowing for those lenders to gain better control of 2010.
Regulatory change called for a redesigned GFE this year to — in part — provide borrowers with more detailed closing cost information in order to make better informed decisions. But mistakes, or erroneously changed fees, can create inaccurate applications and non compliant loans. For example, a loan officer might try to waive a charge that the lender stipulates as mandatory.
OpenClose created the GFE lockdown to provide lenders with even greater control by adding the ability to lock down fields in the fee maintenance and closing cost scenarios modules. By checking the “Lock on GFE” checkbox, a loan administrator can freeze the dollar value for that fee and then it cannot be changed on the Good Faith Estimate by any originator or processor.
“The redesigned GFE 2010 provides many more details for prospective homebuyers,” said Jason Regalbuto, President, OpenClose, “but with those details comes more chance for error. Our new GFE lockdown feature provides an extra level of control and therefore, peace of mind.”
I’m for whatever makes the transaction faster and easier. Technology is a beautiful thing – when it works.
Posted via email from Title Insurance
Continuing Ed for Title Agents
OpenClose Releases “GFE Lockdown” for Enhanced Editing Features in Its Loan Origination Software That Greatly Improves GFE Accuracy
WEST PALM BEACH, FL–(Marketwire – August 31, 2010) – OpenClose Mortgage Software, developers of Web-based, loan origination software, has released the enhanced editing version that improves the accuracy of information flow in the new good faith estimate (GFE). The GFE lockdown “significantly improves” accuracy of loan documents allowing for those lenders to gain better control of 2010.
Regulatory change called for a redesigned GFE this year to — in part — provide borrowers with more detailed closing cost information in order to make better informed decisions. But mistakes, or erroneously changed fees, can create inaccurate applications and non compliant loans. For example, a loan officer might try to waive a charge that the lender stipulates as mandatory.
OpenClose created the GFE lockdown to provide lenders with even greater control by adding the ability to lock down fields in the fee maintenance and closing cost scenarios modules. By checking the “Lock on GFE” checkbox, a loan administrator can freeze the dollar value for that fee and then it cannot be changed on the Good Faith Estimate by any originator or processor.
“The redesigned GFE 2010 provides many more details for prospective homebuyers,” said Jason Regalbuto, President, OpenClose, “but with those details comes more chance for error. Our new GFE lockdown feature provides an extra level of control and therefore, peace of mind.”
I’m for whatever makes the transaction faster and easier. Technology is a beautiful thing – when it works.
Posted via email from Title Insurance
Continuing Ed for Title Agents
eLynx releases HUD-1 compliance tool for its Electronic Closing Network
Tue, 2010-08-31 12:54 — NationalMortgag…eLynx, a portfolio company of American Capital, has announced that it has released its new eHUD service, a component of the Electronic Closing Network (eCN), that makes it easy for lenders and closing agents to comply with Real Estate Settlement Procedures Act (RESPA) regulations governing Good Faith Estimates (GFE) and the HUD-1.
Recent changes to RESPA regulations limit the differences allowed between the fees disclosed on the GFE and the amounts collected from the borrower at the closing table. These controls require that lenders and settlement agents work closely to negotiate fees and limit differences on the HUD-1 while preparing mortgage documents.
In the past, preparing the HUD-1 was a manual process that required numerous phone calls and faxes. eLynx’s new eHUD service provides a mechanism for lenders and settlement agents to collaborate electronically and in real-time. All parties can quickly and transparently negotiate the fees on a HUD-1 before reaching the closing table. The eHUD service also automatically compares the fees to the original GFE, identifying differences that exceed the allowable amount. This allows lenders and settlement agents to improve their RESPA compliance.
Posted via email from Title Insurance
Continuing Ed for Title Agents
According to Top Producer, 1% of Buyers Find homes by home books, 4% Newspapers, 24% Signs, and 71% by Internet. Because the internet is by far the number one source people look for real estate information, this is where focus and advertising dollars ought to be. Here are five steps to real estate search engine optimization.
* The first step to search engine optimization for real estate websites is the domain name. The domain name is a very important aspect in the Google algorithm. Domain names that have real estate related keywords will rank much better than those that do not.
* Find your keywords. A great tool for finding is simply using the google adwords tool. This tool will show you the keywords that are most used for real estate searches in a particular area, and can help you to decide a keyword rich domain name. These keywords are also important for the content you will add on your real estate website.
* Create Unique Content. One of the best things you can do to get traffic to your website is to write as much content as possible. Search engines love fresh new content, and the articles you write might satisfy a specific question an online looker has. When writing your content make sure you include keywords in your titles, headers, and in the alt tags on images.
If you need help with your website, let me know. art@learntitle.com
Posted via email from Title Insurance
Continuing Ed for Title Agents
This could be a nice boost to Sales as we enter a time that is notoriously a slow period. This coupled with great Interest rates may be enough incentive for many to move forward. The process of buying a home has a great ripple effect on the economy and the local industries from Real Estate professionals, Insurance professionals, local home improvement businesses, as well as city municipalities.
Nancy G. Pratt
Will the Administration Bring Back the Homebuyer Tax Credit?
After a worse than expected falloff in home sales during the month of July, buzz about a possible revival of the federal homebuyer tax credit has begun to surface.
[[posterous-content:UYQPaxZGrdTN8v8mBJHV]]
The National Association of Realtors (NAR) reported last week that sales of previously owned homes plummeted 27 percent in July, hitting their lowest mark in 15 years. New home sales also took a dive, dropping nearly 13 percent from June to July.
Both reports were clear indications of the frailty of the housing market post-stimulus. Although, the steep declines were actually considered a by-product of the tax credits themselves, which expired on April 30 – payback for the incentives that pulled sales forward into the spring months.
HUD Secretary Shaun Donovan said on CNN’s “State of the Union” program this weekend, “The July numbers were worse than we expected, worse than the general market expected, and we are concerned. That’s why we are taking additional steps to move forward.”
Donovan said it was too early to say for sure, after only one month’s numbers, whether the administration would revive its popular homebuyer tax credits to give the housing markets another much-needed boost, but he didn’t wholly rule it out as an option.
“All I can tell you is that we are watching very carefully,” Donovan told CNN. “We’re going to be focused like a laser on where the housing market is moving going forward, and we are going to go everywhere we can to make sure this market stabilizes and recovers.”
Two U.S. Senate candidates from Florida, one of the hardest hit states by the housing downturn, spoke out in favor of bringing back the federal tax credits for homebuyers on the CNN program.
Florida Gov. Charlie Crist, who is running as an independent for a Florida Senate seat, said a reinstatement of the homebuyer tax break “would be a great lift” and “would stimulate the economy…[and] increase home sales in Florida.”
“People are hurting, and they’re looking for answers. And that would be a good one. I would absolutely encourage the president to support [another homebuyer tax credit],” Crist told CNN.
When asked if he was also onboard with renewing the homebuyer tax credit incentive, U.S. Rep. Kendrick Meek, a Democrat running against Crist for the Senate seat, replied “Absolutely.”
“[I]t was essential to helping individuals buy a home again. That tax credit means an awful lot here in Florida. We need more of it,” Meet said.
Nancy G. Pratt
Director of Business Development/eStrategy Manager
PropertyInfo Corporation /eMortgage Solutions
Direct 317-414-4268
email npratt@stewart.com
Posted via email from Title Insurance
Continuing Ed for Title Agents
Pa.S Closing Costs Among Nations HighestPATRICIA SABATINI, Pittsburgh Post-Gazette PITTSBURGH AP ― While mortgage rates have plunged to record lows, the cost of buying a home in Pennsylvania is being driven up by a related expense: sky-high closing costs.Pennsylvanians are paying among the steepest mortgage-related fees in the country, according to a new study by Bankrate.com. Closing costs in the state were the eighth-highest overall, averaging $4,236 on a $200,000 loan, 13 percent higher than the national average of $3,741, the survey said. Costs excluded property taxes, homeowners insurance and escrow fees.
Former Title Insurance Agent Sentenced for EmbezzlementAugust 26, 2010 | Targeted News Service Email Print Free Newsletter WASHINGTON, Aug. 24 — The U.S. Attorney for the Middle District of Pennsylvania issued the following news release:The United States Attorneys Office announced today that Ellery A. Crissman, age 45, presently resides in Lock Haven, Pennsylvania received a sentence of 57 months imprisonment and three years supervised release on the charge of embezzlement from a title insurance business. Senior District County Judge Malcolm Muir imposed the sentence in Williamsport following Crissmans plea of guilty to the embezzlement violation on September 3, 2009. Judge Muir also ordered him to pay $1,562,257.67 in restitution to over 50 victims of the embezzlement.
via Insurance News – Former Title Insurance Agent Sentenced for Embezzlement.
REBECCA QUICK, CNBC ANCHOR: Joining us right now with a rundown of the closing cost rankings of his outlook is Tim Dwyer. He`s the founder and President of title insurance firm, Entitle Direct.
And Tim, closing costs have not been dropping like we`ve seen mortgage rates. Why is that?
TIM DWYER, PRESIDENT, ENTITLE DIRECT: It`s counterintuitive, isn`t it?
QUICK: Yes.
DWYER: Well, in fact, closing costs have been falling. The bank rates started (ph) that came out last actually did estimate indeed that an increase of 37 percent in closing costs were a purchase transaction.
Posted via email from Title Insurance
Continuing Ed for Title Agents
ABOUT
A discussion of the Title Insurance Industry
RECENT POSTS
Diane Cipa Talking Title
- note to testy comment person September 1, 2010Roger, wilco and out. ;) […]Diane Cipa
- query: should buyer get title insurance on land cash deal August 24, 2010Unless you want to put the cash at risk, YES, buy an owner title insurance policy. […]Diane Cipa
- query: when does being threatened with adverse possession end August 23, 2010I do hope you confer with a good real estate attorney. In PA, you can evidence that you granted permission for the use, even if temporary permission and that should defeat an adverse possession claim. A good real estate attorney can advise you. I bought a property a few years back and the survey revealed that a neighbor was using my land for parking and ge […]Diane Cipa