10 mortgage partnerships formed as lenders brace for tough times
The nation’s largest title insurance underwriter, Fidelity National Financial has purchased AllFirst Title Insurance Agency and its various regional brands.
AllFirst and its units – FirsTitle, Excel Title Group, Allegiance Title Company, Guaranty Title, Smith Brothers Abstract, Aggieland Title Company and Guaranty Title New Mexico – provide title review, title factory, abstract and settlement in 121 counties in Texas, Oklahoma, New Mexico and Arkansas.
“This is an important acquisition of an elite, well-operated and fast-growing group of securities companies that brings management talent and immediate income to FNF in markets that further expand our national footprint. “said CEO Mike Nolan in a press release.
Old Republic Title has acquired the operating assets of Houston-based Veritas Title Partners, adding to its existing network of direct operations that includes more than 275 branches and subsidiaries nationwide.
“Veritas Title is one of the premier local title agents in the Houston area and the addition of its group of experienced title professionals to our Houston division will enhance Old Republic Title’s existing operations,” said Carolyn Monroe. , president of Old Republic Title in a press release.
Finally, Stewart Information Services purchased FNC Title Services, a national company specializing in reverse mortgage closings.
“As more homeowners view their home equity as viable retirement savings, demand for reverse mortgages is growing and FNC has built one of the biggest and best settlement service providers around. for reverse mortgages,” Stewart CEO Fred Eppinger said in a press release. “Their strength in reverse mortgages complements our existing lender servicing business lines and continues our momentum as we build a leading lender servicing organization.”
FNC will continue to operate as a stand-alone business.