Market Share Report – March 2015

April 2015

Complying with the new CFPB disclosure rules taking effect later this year will require that lenders and settlement service providers work more closely than ever before. In order to accurately meet the disclosure time lines we will each be entering our information into each other?s forms. It makes sense to do as much as this as possible through exchanging the information in an electronic format that is integrated with our respective production software.

Black Knight Financial Services through its RealEC unit is providing an exchange platform that will integrate leading loan origination and closing production software systems. The platform is called Closing Insight?. Several national lenders have selected Closing Insight? as the way that they will exchange settlement information with title companies doing their closings.

Softpro, the closing production system that John Bethell Title uses is integrated with Closing Insight?. Thus, allowing us and participating lenders to cede data directly into each other?s systems. Closing Insight? also includes other features to enhance scheduling and management of closings and disclosures.?Softpro is building integrations with our leading loan origination systems as well.

As your decision making evolves, we are available to consult with you about the best way to integrate our respective responsibilities in the most cost effective and compliant manner. Don?t hesitate to let us know how we can help.

As many of the quarterly charts show, business is up considerably over last year?especially in the $200,000 to $500,000 range. By most measures we experienced the best first quarter purchase market in seven years. Refinancing also increased on a year over year basis but is still well below the recent boom years of 2009, 2012 and 2013. Our own pipeline of open orders indicates that the second quarter will also represent a big year over year improvement.

Have a prosperous and profitable spring!

John