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First American Title and Lone Wolf Technologies integrate to offer title insurance orders directly to 1.4 million real estate agents in the U.S.
With the integration, real estate agents with access to Lone Wolf's national transaction management member benefit can order First American title insurance policies CAMBRIDGE, ON, Dec. 3, 2020 -- First American Title Insurance Company, a leading provider of title insurance and settlement services and the largest subsidiary of First American Financial Corporation, and Lone Wolf Technologies, the North American leader in real estate technology, today announced an integration to offer digital title insurance orders within Lone Wolf Transactions (zipForm Edition), the national transaction management member benefit in the U.S., and Lone Wolf Transactions (TransactionDesk Edition), a local/state member benefit in over 300 MLSs and associations in the U.S. This integration represents a significant step toward digitizing the entire title insurance and transaction experience. With this integration, real estate agents using Lone Wolf Transactions will be able to complete digital title orders with their local First American Title office. The integration includes file order/initiation, secure contract/document transmission, real-time file updates, a chat feature, and a status update dashboard for the real estate agent side. This will result in easier and faster order creation for agents on both sides of the transaction, simpler communication, and a secure channel for both agents and title representatives to share notes and files at the transaction level in their respective systems. The launch will commence in Oregon, and roll out nationally over the next several months. "It's more important than ever for real estate professionals to conduct business digitally," said Jimmy Kelly, president and CEO of Lone Wolf. "This integration connects a leading title insurance provider to the leading transaction solution in the U.S. to bring a one-of-a-kind digital workflow to every single agent in the country, making their deals and their client experience that much simpler at a time when they need it most. We believe this is a huge step toward a new, faster, better real estate transaction experience for agents, brokerages, and buyers and sellers." "We're thrilled to announce this integration with Lone Wolf," said Jim Dulle, senior vice president and managing director at First American Title. "Integrations like this represent First American Title's commitment to creating efficiencies for our customers." First American Title joins nearly 20 other major real estate services and technology providers in Lone Wolf's Marketplace, including Earnnest, Updater, Adwerx, EyeSpy360, and many more. Marketplace provides a curated library of digital tools, services, and solutions for every aspect of a transaction, from listing to close and beyond. Access is provided for free to every real estate agent in the U.S. with a login to their national member benefit, Lone Wolf Transactions. "Marketplace's purpose is to revolutionize the real estate transaction experience," said Jason Cheverton, vice president of strategic channels at Lone Wolf. "By putting everything agents need for the entire transaction in one place, from lead generation and digital advertising to digital earnest money deposits, title insurance, and moving concierge services, we're doing just that. First American Title is an amazing addition to Marketplace and one that will have a massive impact for real estate agents across the country." About First American Title Insurance Company First American Title Insurance Company, the largest subsidiary of First American Financial Corporation (NYSE: FAF), traces its history to 1889. One of the largest title insurers in the nation, the company offers title services through its direct operations and an extensive network of agents throughout the United States and abroad. First American Title provides comprehensive title insurance coverage and professional services for real estate purchases, construction, refinances and equity loans. For more information, visit www.firstam.com/title. About Lone Wolf Technologies Lone Wolf Technologies, a Stone Point Capital company, is the North American leader in residential real estate software, serving over 1.4 million real estate professionals across Canada and the U.S. With cloud solutions for agents, brokers, franchises, MLSs and associations alike, the company provides the entire real estate industry with the tools they need to amaze clients, build their business, and improve profits—from transactions to back office, insights, and more, all in one place. Lone Wolf's head offices are located in Cambridge, ON, and Dallas, TX. For more information on Lone Wolf Marketplace, visit marketplace.lwolf.com.
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eXp Realty Expands Silverline Title and Escrow to 15 Additional States
BELLINGHAM, WASH. -- eXp Realty, The Real Estate Cloud Brokerage and a subsidiary of eXp World Holdings, Inc., announced Silverline Title & Escrow, LLC now is offering title, escrow and settlement services to eXp Realty residential clients in 15 additional states (Delaware, Georgia, Indiana, Kansas, Louisiana, Michigan, Maine, Mississippi, Nebraska, New Hampshire, New Jersey, North Carolina, North Dakota, South Carolina and West Virginia). Silverline also services eXp Realty in Florida and Tennessee. Part of the eXp Preferred Partner program, Silverline Title & Escrow offers eXp Realty agents and buyers white glove service on every transaction, including a mobile or remote closing, a dedicated advisor and no junk fees. The eXp Preferred Partner program provides eXp Realty agents and their clients with a marketplace for home-buying and selling services. All eXp Realty Preferred Partners are vetted by eXp Realty to ensure that they will offer industry-leading services. Silverline Title & Escrow is built to seamlessly integrate with other eXp Preferred Partner services such as mortgage origination to keep agents, homebuyers, lenders and settlement service providers informed and on track for a faster and smoother closing. "eXp Realty now offers Silverline Title & Escrow in 17 U.S. states and we're thrilled to bring their service to these new regions," said eXp World Holdings Vice President, Affiliated Services, Ted Laatz. "Buyers are looking for trusted and reliable service throughout their real estate experience and our title and escrow advisors are ready to help every step of the way." About eXp Realty eXp Realty is an eXp World Holdings, Inc. (Nasdaq: EXPI) company. eXp World Holdings also houses eXp World Technologies, LLC, which operates the VirBELA platform. eXp Realty, The Real Estate Cloud Brokerage, is the largest residential real estate brokerage by geography in North America. It is one of the fastest-growing firms with more than 25,000 agents across North America, Canada, the United Kingdom and Australia. As a subsidiary of a publicly traded company, eXp Realty uniquely offers real estate professionals within its ranks opportunities to earn eXp World Holdings stock for production and contributions to overall company growth. VirBELA offers a modern, cloud-based environment focused on education and team development with clients in various industries from government to retail. VirBELA developed eXp Realty's current cloud campus, which provides 24/7 access to collaborative tools, training and socialization for the company's agents and staff. For more information or to contact a local eXp Realty agent, visit www.exprealty.com.
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eXp Realty Preferred Partners to Provide Marketplace for Home-buying Services
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Stewart Announces Agreement to be Acquired by Fidelity National Financial
Combination Creates Opportunity for Stewart to Grow its Brand and Continue its Legacy of Customer-Focused Service HOUSTON--Stewart Information Services Corporation today announced that it has entered into a definitive agreement to be acquired by Fidelity National Financial, Inc., a leading provider of title insurance and transaction services to the real estate and mortgage industries. Under the terms of the agreement which has been unanimously approved by Stewart's Board of Directors following a comprehensive review of strategic alternatives, Stewart shareholders will receive $25.00 in cash and 0.6425 common shares of Fidelity for each share of Stewart common stock they hold at closing, subject to the adjustment and election mechanisms described below. "Last year, our Board initiated a review of strategic alternatives for the company, and after an extensive process, we determined that capitalizing on the Fidelity platform will best enable us to support the Stewart brand and continue providing the service our customers have come to expect," said Thomas G. Apel, Stewart's Chairman of the Board. "Combining with Fidelity National Financial will create a strong portfolio of customers and business relationships, and will provide us with the ability to grow the Stewart brand." "I am extremely proud of Stewart's legacy of high-quality underwriting and customer-focused service delivered by our loyal associates," said Matt Morris, Stewart CEO. "This transaction with Fidelity is an opportunity to continue building on this legacy, enhance innovation and create a more robust company for the future." "Stewart is one of the most respected names in the title insurance industry, with over 125 years of providing superior customer service," said William P. Foley, II, Fidelity Chairman. "We know business is won and lost based on customer service and relationships, and it is important to us to not only maintain, but provide additional support to grow the Stewart brand and reach more customers. Through this transaction, Stewart will bring its experience, knowledge, and customer relationships to the Fidelity family of companies in our continued mission to be the industry leader in underwriting, customer service and operational expertise." Based on Fidelity's closing stock price on March 16, 2018, the merger consideration represents total value per Stewart share of $50.20, a 23% premium to Stewart's closing stock price on March 16, 2018 and a 32% premium to Stewart's closing stock price on November 3, 2017, the trading day prior to Stewart's announcement that it would undertake a review of strategic alternatives. Under the terms of the definitive agreement, the following mechanics apply to the merger consideration: Adjustment mechanism. If the combined company is required to divest assets or businesses exceeding $75 million in order to procure required regulatory approvals up to a cap of $225 million of divested revenues, the purchase price will be adjusted down from $50.20 (based on $25.00 in cash and 0.6425 common shares of Fidelity stock) on a pro-rata basis relative to the actual amount of revenues required to be divested between $75 and $225 million to a minimum purchase price of $45.50 per share of common stock (with the decrease split on a 50/50 basis between the cash and stock portions of the merger consideration based on the value of the stock component at signing). Election mechanism. As an alternative to the default mixed transaction consideration described above, each Stewart shareholder will have the ability to instead receive either $50.00 in cash or 1.285 common shares of Fidelity for each Stewart share held, subject to a customary pro ration mechanism to the extent that either the cash or the stock portion of the merger consideration is over-subscribed. The proposed transaction is subject to approval by Stewart's shareholders and regulatory authorities and the satisfaction of customary closing conditions. The company will be closely working with regulators to obtain the necessary approvals as soon as possible, and the transaction is expected to close by the first or second quarter of 2019. If the deal is not completed for failure to obtain the required regulatory approvals, Fidelity is required to pay a reverse break-up fee of $50 million to Stewart. Citi acted as financial advisor to Stewart and Davis Polk & Wardwell LLP acted as Stewart's legal advisor. About Stewart Stewart Information Services Corporation (NYSE:STC) is a global real estate services company, offering products and services through our direct operations, network of Stewart Trusted Providers™ and family of companies. From residential and commercial title insurance and closing and settlement services to specialized offerings for the mortgage industry, we offer the comprehensive service, deep expertise and solutions our customers need for any real estate transaction. At Stewart, we believe in building strong relationships – and these partnerships are the cornerstone of every closing, every transaction and every deal. Stewart. Real partners. Real possibilities.™ More information is available at the company's website at stewart.com. About Fidelity National Financial Fidelity National Financial, Inc. (NYSE:FNF) is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Alamo Title and National Title of New York - that collectively issue more title insurance policies than any other title company in the United States. More information about FNF can be found at www.fnf.com.
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