Tag Archives: Title Insurance

Rating agency A.M. Best is revising its outlook for the U.S. title industry, bringing it down from "positive" to "stable" as concerns build about uncertainty in the housing recovery. The change reflects the company's outlook shifting from a possible ratings upgrade due to favorable trends to a "low likelihood of a rating change."

According to an announcement from the bureau, Lighthouse Title, which operates in branches throughout the state, entered into marketing services agreements (MSAs) with various companies "with the understanding that the companies would refer mortgage closings and title insurance business to Lighthouse."

Title insurance and settlement services provider Avenue 365 announced the appointment of Pauldie Howrigan as VP and national account manager.

In its 2014 Second Quarter Market Share Analysis, the American Land Title Association (ALTA) reported that the industry generated $2.7 billion in premiums in Q2 2014, down from $3.3 billion the industry generated in Q2 2013. "A lackluster spring homebuying season that was weaker than anticipated coupled with a substantial decline in refinance activity resulted in the drop in title insurance premium volume," said ALTA CEO Michelle Korsmo.

As the rest of the housing market struggled in the year's first half, so too did the title insurance industry, Fitch Ratings reported in a new analysis. Isolating business at the nation's four largest title insurers, analysts at Fitch calculated a combined 12 percent decline in operating revenues through the first six months of 2014 compared to the same period last year.

The New York Title Insurance Rate Service Association (TIRSA) has elected Michael Kelly of WFG National Title Insurance Company to serve as VP of the board, the company announced.

Noting that “several credit metrics for 2013 vintage deals have deteriorated, including expansion of interest only loans, higher use of subordinated debt and higher LTV [loan-to-value] ratios,” the Fitch Ratings in a release put out Monday urged all title insurers to conduct thorough search and examination processes to head off future losses.

WFG Title Company of California announced the hiring of a new SVP and Orange County manager. The company named Bryan Kelley in the role.

Alliant National Title Insurance Company, a title insurance underwriter that partners with independent agents, announced the hiring of Katherine Kitty Stevens, Esq. as VP of Florida agent training and business development.

Entitle Direct Group, Inc. (EDG), the parent company of EnTitle Insurance Company, announced the appointment of John Sheffield as its new CFO and corporate secretary.