Stewart Information Services Corporation - STC STOCK NEWS

PropStream has introduced a new Upside Down Lead List feature to help real estate professionals identify properties where homeowners owe more than the property's worth (negative equity). This addition brings the total number of Lead Lists on the platform to 20, enhancing PropStream's data-driven solutions for real estate professionals.

The new tool aims to help users efficiently research underwater properties, enabling them to assist homeowners facing negative equity situations. The feature is part of PropStream's ongoing efforts to provide innovative datasets and tools to its users, supported by AI-powered datasets and a dynamic data library.

Stewart Information Services (NYSE:STC) announced a three-year contract extension for CEO Frederick H. Eppinger through 2028. Under Eppinger's five-year leadership since 2019, Stewart has more than doubled its market cap and increased market share to over 10%. Despite challenging market conditions including a global pandemic, Eppinger has led the company through thirty strategic acquisitions, expanded digital capabilities, and improved operational efficiency.

The company aims to achieve 15% market share and 11-12% pretax margins. Eppinger, who joined as CEO in September 2019 after serving as a director since 2016, has focused on strengthening Stewart's market position and driving sustained growth through one of the most challenging housing markets in history.

Stewart Information Services (NYSE:STC) has announced a quarterly dividend of $0.50 per share for the fourth quarter of 2024. The dividend will be paid on December 30, 2024, to shareholders who are recorded as stockholders as of December 16, 2024.

PropStream, a leading real estate data provider, has announced significant updates to its platform interface and search capabilities. The update includes a redesigned search menu, new filtering options, and enhanced datasets. Key improvements include a 'Find a Filter' button for navigating over 165 filters, additional MLS status filters, and property feature filters for pools, garages, attics, and basements. The platform now includes an AVM-generated Estimated Wholesale Value on select property cards. The update focuses on improving efficiency and user experience, with 'Quick Lists' being renamed to 'Lead Lists' and the introduction of an 'Upside Down' lead list feature.

PropStream has launched PropStream Intelligence, an AI-driven platform enhancement for real estate professionals. The new tool introduces features including Property Condition Analysis with a grading system, Foreclosure Factor prediction, Estimated Wholesale Value calculation, and a new Upside Down Lead List for identifying properties with negative equity. The platform aims to streamline lead generation by leveraging AI and machine learning to provide intelligent curated data. These new features are available to existing subscribers at no additional cost, with a 7-day free trial available for new users.

Stewart Information Services (NYSE:STC) announced that Lou Pontani, Executive Vice President of Information Technology & Enterprise Operations, has been named a recipient of HousingWire's 2024 Tech Trendsetters award. The award recognizes innovative technology leaders in the housing economy. At Stewart, Pontani oversees strategic operational priorities and digital strategy, particularly in Agency Services. Under his leadership, Stewart has invested in skilled personnel and resources to address growth barriers, focusing on equipping sales teams with tools for growth and adaptability.

Stewart Information Services (NYSE: STC) has announced its participation in the upcoming Stephens Annual Investment Conference. CEO Fred Eppinger and CFO David Hisey will engage in a fireside chat on November 19, 2024, at 4 p.m. Eastern Time. Investors can access the live webcast through Stewart's Investor Relations website, where a replay will also be available afterward. The company's management team will be available for one-on-one and small group investor meetings during the event.

Stewart Information Services (NYSE: STC) reported strong third quarter 2024 results with total revenues of $667.9 million, up from $601.7 million in Q3 2023. Net income more than doubled to $30.1 million ($1.07 per diluted share) compared to $14.0 million ($0.51 per diluted share) in the prior year quarter. The title segment saw a 6% increase in operating revenues, driven by higher domestic commercial and agency title operations. The real estate solutions segment showed significant growth with a 41% revenue increase. Despite challenging residential market conditions, the company demonstrated improved performance across multiple business lines.

Cloudvirga has released findings from a consumer survey highlighting increasing digitalization and homebuyer expectations in mortgage processes. The survey, conducted in September 2024 with over 1,000 recent homeowners, revealed high satisfaction with digital mortgage tools, with 71% very satisfied with their lender's technology.

Key findings show that 63% of respondents wanted an even more digital experience, and 77% expect their next mortgage to be totally digital. However, 60% expressed concerns about AI usage in loan processes. Despite digital satisfaction, 58% still relied on loan officers for initial applications, indicating a desire for human assistance alongside technology.

The survey also found high satisfaction with digital documentation processes, with 91% using a single system for documentation and 92% being satisfied with document submission procedures.