Commitment Matters: Mary & Erica Peterson - 2022’s Voice of the Title Agent Report
In this episode of Commitment Matters, Mary speaks with Erica Peterson, Editor at October Research. Visit the Voice of the Title Agent website or email Erica directly.
During their conversation, Erica or Mary mentioned:
The Voice of the Title Agent Report is an independent source for up-to-the-minute, nationwide reporting on title insurance, settlement services, e-commerce and title technology, real estate market trends, ratings actions and earnings reports, mergers and acquisitions, niche markets and competitive business strategies. Download the entire 2022 report here.
In the survey, 47% of respondents said they were performing eclosings. In 2020, 21% were doing eclosings, and in 2017 that number was down to 15%. Here are more stats on eclosing and RON usage.
Erica says cybersecurity and fraud concerns dropped 20 percent from last year’s report. She says this was mostly due to better security protocols and education along with rising concerns about the housing market. This article details some more of those concerns.
Data from the report shows the number of mergers and acquisitions are continually rising. Partnerships have doubled within the last five years.
"Over the last several months, our RamQuest solution has enabled us to work remotely as needed and adhere to social distancing requirements. For example with ready2close, we’re able to provide up-to-date, minute-by-minute updates to parties on a the transaction, cutting down on phone calls and emails. It enables clients to send us documents, securely and safely, without having to leave the comfort of their homes. Clients can also retrieve any of the executed documents associated with their file at their convenience without the concerns that come with face-to-face interaction."