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.

• Around half of those surveyed said they expect more regulatory scrutiny from the Consumer Financial Protection Bureau AND the state.

• During the pandemic, many businesses started implementing temporary remote online notarizations (RONs), however, they are now becoming a standard practice, depending on states’ permissions.

• Got a question or concern you want addressed? You can provide feedback for the Title Report at any time on the website.

• Save the date! You can participate in the 2023 Voice of the Title Agent by filling out the survey published online each February. Sign up for updates here.

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