Data Trace Post

Surviving the “Big Shift”

Ben Bellomo Title Automation, Title Insurance, Title Production, Title Plants, Title Efficiencies, title report, Artificial Intelligence 0 Comments

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– As the “big shift” in real estate lending continues with the purchase market taking center stage, new challenges arise for title companies and lenders to grow market share –

The “big shift” in real estate lending is on. As rising mortgage rates spur further declines in refinance transactions and historically low housing inventory limits existing-home sales, title companies and lenders face a challenging time to maintain and grow market share.

In this increasingly competitive environment, companies can leverage operational efficiency tools and market-specific intelligence to enhance customer service and increase the effectiveness of their marketing efforts, which can drive business that, in turn, helps protect margins.

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Pivoting to Purchase, But Staying Focused on The Digital Future

Ben Bellomo Title Automation, Title Insurance, Title Production, Title Plants, Title Efficiencies, title report, Artificial Intelligence, Title Industry Outlook 2022 0 Comments

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– In 2022, the dramatic shift from refinance to purchase and the overall market contraction requires new strategies as well as renewed focus on cost and efficiency

With refinance transactions slowing, 2022 will mark a year of significant change for the title and mortgage industries. As Odeta Kushi, deputy chief economist at First American, recently observed:

“The Fed clearly faces a very unique challenge in 2022. How to tame inflation without halting the recovery, and the housing market is entering 2022 with double-digit house price growth, strong underlying demand and near record-low supply. A modest increase in mortgage rates due to tighter monetary policy may actually bring some much-needed house price moderation.”

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Accelerating Digital Transformation in 2022

Robert Karraa Title Automation, Title Insurance, Title Production, Title Plants, Title Efficiencies, title report, Artificial Intelligence, Title Industry Outlook 2022 0 Comments

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In 2022, forward-looking clients are investing in automation and workflow enhancements to work faster, smarter and more cost effectively

What will 2022 look like for the title industry? The Mortgage Bankers Association (MBA) expects origination volume to reach $2.6 trillion this year, which would rank as the fourth best year for origination volume in the last 15, but not quite the frenzy experienced in 2021.

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Tax Services are a Natural Starting Point for Title Companies’ Digital Transformation

Team Data Trace Title Automation, Title Insurance, Title Production, Title Plants, Title Efficiencies, title report, Artificial Intelligence 0 Comments

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- Tax Services are a Natural Starting Point for Title Companies’ Digital Transformation -

Recently MortgageOrb spoke with Alan Martin, VP, Product Management, DataTrace to discuss the importance of digitizing and automating property tax information. Check out the featured article:

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DataTrace Leverages AI to Add Over 1,000 New Title Plants to Industry-Leading Footprint to Support Growth in Automated Title Production

Team Data Trace Title Automation, Title Insurance, Title Plant Expansion, Title Plant data, Title Production, Title Plants, Title Efficiencies, title report, Artificial Intelligence 0 Comments

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– Massive geographic expansion nearly triples DataTrace’s total number of title plants to more than 1,600, spanning 80% of U.S. population –

DataTrace announced today the addition of over 1,000 new geographic title plants across the United States, increasing the company’s total number of title plants to more than 1,600, covering 80% of the U.S. population. The new title plants leverage the latest artificial intelligence and automation technology. As title companies more widely automate title production, the demand for state-of-the-art title plants across the country is expected to increase.

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