PA Title Company Sees Great Response in Offering Services Directly to Consumers.

PA Title Company Sees Great Response in Offering Services Directly to Consumers
press release
7/27/2010

In a completely new approach to the way title insurance is delivered, a Pennsylvania title company began offering its services directly to homeowners earlier this year. Charles Marino, President and CEO of Pennsylvania Title Insurance Company, made a decision to take his business out of the confines of the financial institutions, lenders, mortgage companies, and banks and begin seeking the end user to provide them the opportunity to choose their title company for themselves. Traditionally, title insurance is not decided upon by the borrower.

On average, a foreclosure reduces the value of a house by 27%, says a new paper from an economist at the Massachusetts Institute of Technology and researchers at Harvard University.

In the study, which is due for publication in the American Economic Review, MIT economist Parag Pathak and Harvard researchers John Y. Campbell and Stefano Giglio conclude that a foreclosure puts a much bigger dent in a home’s value, compared to a forced sale as a result of bankruptcy or the death of the owner.

Mr. Pathak says he’s not surprised that there’s a discount due to foreclosure, but says, “It is surprising that it’s so large,” according to a press release. The paper uses data on house transactions in the state of Massachusetts over the last 20 years.

via blogs.wsj.com

Posted via email from Title Insurance
Continuing Ed for Title Agents

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New player in title insurance | Inman News

July 26, 2010 admin

There’s room for another national player in title insurance, according to Patrick Stone, president and CEO of a startup that aims to join the ranks of the big four title insurers before the end of the decade.

Based in Lake Oswego, Ore., WFG National Title Insurance Co. has grown rapidly by acquiring other companies, employing nearly 200 workers nationally. WFG was licensed to do business in 33 states just six months after launch, and plans to be in more than 40 by the end of the year.

“The market is very underserved in the sense that the industry has not changed or adapted to market-driven changes that Realtors and lenders have had to adapt to,” Stone said.

via inman.com

Posted via email from Title Insurance
Continuing Ed for Title Agents