LandAmerica buys Capital Title for $251 million

LandAmerica Financial Group today said it agreed to buy Capital Title Group for $251 million in cash and stock to diversify its business mix and expand in title insurance.

LandAmerica has agreed to acquire 100 percent of Capital Title's common stock for an aggregate consideration of approximately $251 million, 80 percent of which will be paid in cash and 20 percent in LandAmerica common stock.  more...

NRT completes multistate expansion

NRT Inc., the nation's largest residential real estate brokerage company, today announced it acquired the assets of three real estate firms located in California, Connecticut and Massachusetts.

The companies include Pierpont Bay Realty in Ventura, Calif.; Coldwell Banker Select Sites in greater New Haven, Conn.; and Coldwell Banker Towne and Country Realty in Sturbridge, Mass.

Each company will now operate under the banner of Coldwell Banker Residential Brokerage in its respective local market.

In 2005, NRT acquired 31  more...

Real estate borrowers can sign online

A new version of eLynx' electronic signature technology enables mortgage borrowers to review and approve loan documents via the Internet, the company announced this week.

The latest uSign version offers a secure signing environment, eliminates reliance on paper and reduces costs by up to 75 percent, according to the company's estimates.

Lenders can deliver loan documents to the borrower without incurring mail and courier fees or experiencing delays in the receipt of signed documents.  more...

California real estate slowdown will drag economy

A slowing real estate market in California will hurt the state's economy, according to the University of California, Los Angeles, economic forecast.

The UCLA Anderson Forecast, which also reports on national and local expectations, projects that 200,000 jobs will likely be lost in California's construction sector "as residential construction and remodeling slow markedly," according to an announcement today.

Christopher Thornberg, senior economist for the forecast and author of the California forecast, s  more...

E-signature platform available for mortgage, real estate transactions

Silanis Technology today announced that financial institutions, mortgage lenders, real-estate brokers and service providers can now license a single platform to support all of their needs for electronic signatures and document delivery, including the electronic management and vaulting of MISMO-compliant e-mortgage notes.  more...

Mortgage tech companies partner for loan origination

Dorado Corp., a mortgage technology company, today announced a partnership with First American Fulfillment Solutions to deliver end-to-end loan origination tools.

Through this partnership, First American Fulfillment customers can browse loan programs and pricing, select programs and rates, collect the loan application and submit to Fulfillment Solutions without the need for external systems or services.  more...

Virginia real estate sales cool

Home sales in Virginia dropped for the sixth consecutive month in February, as home-price appreciation posted stronger than normal gains, the Virginia Association of Realtors reported Tuesday.

Closed sales fell 9.5 percent in February to 7,109, down from 7,856 for the same month last year. Year-to-date, 13,818 home sales have closed, 12 percent less than last year's year-to-date total of 15,743.  more...

Real estate purchases grow

Despite a third weekly drop in refinancings, overall mortgage applications gained 1.2 percent last week on a seasonally adjusted basis from the week before, the Mortgage Bankers Association reported today.

The seasonally adjusted purchase index increased by 2.7 percent to 404.1 from 393.6 the previous week whereas the refinance index decreased by 1 percent to 1,558.4 from 1,574.5 one week earlier.  more...

Overnight real estate rates move higher

Long-term mortgage interest rates were up Tuesday, and the benchmark 10-year Treasury bond yield rose to 4.78 percent.

The 30-year fixed-rate average climbed to 5.89 percent, and the 15-year fixed-rate edged up to 5.58 percent. The 1-year adjustable was up at 4.94 percent.

The 30-year Treasury bond yield jumped to 4.8 percent.

Rates are current as of 7:15 p.m. Eastern Standard Time.

Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states.  more...