Doma Academy Blog
Industry news and trends, underwriting concerns and helpful tips for title professionals
RON: Title’s Fraud-Fighting Tool
Remote online notarization (RON) has emerged as a vital technological innovation, especially in the digital age where convenience and security are paramount. The traditional notarization process, which requires physical presence, has long been susceptible to various forms of fraud, including…
Tackling Tricky Condo/HOA Title Issues
According to the Foundation for Community Association Research, more than 74 million Americans currently reside in communities organized under homeowners’ and condominium associations, cooperatives or other planned residential developments. The popularity of these types of communities is expected to grow…
You’ve Been Hit By a Wire Fraud Scam: Now What?
You’ve attended several industry seminars to learn about cybersecurity and wire fraud. You’ve implemented strict controls over your company’s email and information technology (IT) systems. You’ve trained your staff and customers on the red flags of business email compromise (BEC)…
Letters of Indemnity: Insuring Over a Recorded but Unreleased Lien
Mortgage lenders are required to release mortgages or reconvey deeds of trust following payoff. Because this process is often delayed, the title insurance industry developed letters of indemnity (LOI) exchanges to facilitate purchase or refinance title orders when there is…
Mortgage Payoff Pitfalls: 7 Ways to Fight Fraud
In the title insurance and settlement industry, many agents are targeted by fraudsters who attempt to divert proceeds intended to satisfy open mortgages when a payoff letter is requested. In addition to preventing fraud, agents must also remember several nuances…
Foreclosures – Four Fast Facts
You may be hearing the word “foreclosure” a lot these days. According to Black Knight, January 2022 saw an alarming 700-percent year-over-year increase in foreclosure starts, and so far this year, rates are continuing to rise month over month. These…
Digital Closings in an Amazon World
How often do you order something from Amazon? Weekly, daily, hourly? Are you more likely to order something from a department store’s website, or drive to the department store and look for the item in person? Do you use a…
Environmental Endorsements
How many times have you issued the ALTA 8.1 or ALTA 8.2 Environmental Protection Lien (EPL) endorsement and thought about what coverage the endorsement provides? Chances are you have issued some form of these endorsements with almost every loan policy…
Insuring Religious Entities
Singer Katy Perry thought she had a deal with the Catholic Church to buy a residence in Los Angeles, which was formerly used as a convent by the Sisters of the Immaculate Heart of Mary. The villa style compound on…
ALTA 2021 Forms – Changes Afoot
During July 2021, ALTA officially released the first comprehensive set of revisions to its entire suite of commitments, policies and endorsements since 2006. This article provides an overview of the most noteworthy changes and impacts the revised forms will have…
How do the Pieces of the Wholesale Puzzle Fit?
Reality TV is filled with flips, renovations and fabulous rehabilitated properties. Whether they are being updated for the current owner or as an investment and later re-sold, one real estate reality show I haven’t seen involves wholesale transactions. Most people…
Dazed and Confused – Title Insurance and Marijuana
For over 50 years, cannabis has been illegal under federal law. However, starting in 1996, states began to legalize cannabis for medical and recreational purposes. With diametrically opposed laws existing between state governments and the federal government, it is easy…
When Disaster Strikes, Will You Be Prepared?
In late August 2017, Hurricane Harvey, a Category 4 hurricane, hit the Southern Coast of Texas, punishing Houston and the surrounding areas with harsh winds and up to 40 inches of rain. By the time Harvey finally dissipated around Labor…
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