First American Data & Analytics launched a title evaluation product designed to streamline the loan origination process. VeriTitle is a “first-of-its-kind solution” for title intelligence, accelerating mortgage and home equity loan originations, according to a press release. “VeriTitle delivers a preliminary title evaluation that helps lenders differentiate loans – identifying those ready for an accelerated…
First American Title rolled out a “reimagined” version of its platform for agents. The platform, AgentNet, is an easy-to-use platform for products and services First American title agents value most. It allows title agents to easily access business-critical tools and reduces the complexity often associated with multiple systems, according to company leaders. “Our title agents…
Annual home price appreciation continued to slow in July as the affordability crisis kept the housing market locked. First American’s Home Price Index report found that prices were up 0.3% month-over-month and 5.3% year-over-year. The report tracks home price changes less than four weeks behind real-time at the national, state, and metropolitan levels. This is…
Existing-home sales continue to be stifled by “twin” market dynamics, and First American expects them to slow through the month. The company’s Existing-Home Sales Outlook “nowcasts” sales based on the historical relationship between sales, demographic trends, house-buying power, and the prevailing financial and economic conditions. For May, the company expects to see sales down YOY…
As 2023 nears its end, with mortgage rates slowing to the mid-7%s but home prices at record highs, the question on housing analysts’ minds is: Will 2024 be any better? For the most part, experts see a mixed bag coming next year, predicting the beginning of a turnaround that won’t fully flower until 2025. Realtor.com’s…
Today’s housing market proves that history does, in fact, recycle its best hits. But it’s not 2008 getting a re-do. That’s according to First American Financial’s Chief Economist Mark Fleming, who notes that the market of today is closer to that of the 1980s– not an exact comparison, but close enough to glean insights. “Today’s…
As home prices spike and interest rates stay elevated, affordability has fallen to its lowest point in more than three decades. First American Financial’s Real House Price Index soared by 16.9% YOY in July, the latest available data, and was up 2% from the month prior. But consumer buying power sank, down 1% month-over-month and…
Jody Mulkey has been named chief technology officer at First American Financial Corporation, the company announced in a press release. Mulkey will oversee FirstAm’s corporate product development team, which will build and enhance enterprise products for customers across the spectrum. “It is an honor to join such an incredible company with its unique combination of…
Recent bank failures have created another problem for the housing market: lack of credit. First American’s Potential Home Sales Model– a measure of what a healthy level of home sales should be based on market fundamentals– fell by 2.5% month-over-month in March. Year-over-year, it is down 10.7%, a loss of more than 640,000 sales. The…
Homeownership remains the most significant way single women can build wealth, and more women than ever are taking advantage. First American Financial reports that the number of single, female-headed households (including windowed, separated, or divorced) has risen by 1.4 million since 2019. Of that group, one million are homeowners. Female homeownership has helped the overall…
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