A coalition of four lawmakers in the U.S. House of Representatives — two Democrats and two Republicans — have come together to found the Bipartisan Congressional Real Estate Caucus, a group designed to “support policies that allow [the real estate] industry to prosper” due to its overall importance to the U.S. economy. The group, announced [...]read moreCongressional lawmakers form bipartisan real estate caucus
As existing home sales dropped to the lowest level it has seen in nearly three decades in 2023, title insurance premium volume also took a hit. In 2023, the title insurance industry generated $15.1 billion in title insurance premiums, a 31% annual drop, according to the American Land Title Association’s Market Share Analysis, released Tuesday. [...]read moreTitle premium volume fell 31% in 2023
Wire fraud prevention firm CertifID and big four title firm Old Republic have entered into a strategic agreement to prevent mortgage payoff fraud, according to an announcement on Thursday. Mortgage payoff fraud occurs when a title company mistakenly sends payoff funds to a fraudulent bank account after receiving wire instructions that appear to be from [...]read moreCertifID and Old Republic partner to prevent fraud
Cybercrime losses rose to a record high of $12.8 billion in 2023, according to the latest Federal Bureau of Investigation Internet Crime Report, published earlier this week. In 2023, the FBI noted that it fielded 880,418 cybercrime complaints, a 10% uptick from the year prior. The potential losses from these complaints also rose to a [...]read moreCybercrime losses hit record high in 2023
Kentucky is on the brink of ending exclusive real estate listing contracts. The state’s General Assembly passed a bill to protect homebuyers from predatory contracts known as non-title recorded agreements for personal services (NTRAPS) or right-to-list agreements. The practice of right-to-list agreements preys upon homeowners by offering small lump sums of cash in exchange for [...]read moreKentucky passes bill to end ‘harmful’ listing contracts