Title Insurance Companies In Usa - These players broker the most title deals in the NYC Top 20 firms that insured $36.75 billion in sales transactions in the past year
Recently decided to rank the most active title companies in New York City. Collectively, the top 20 companies generated $36.75 billion in sales transactions across five territories in the 12-month period ending March 31, 2018. Of that total, $25.85 billion was for commercial real estate and $10.9 billion was for residential.
Title Insurance Companies In Usa
First American Title Insurance enters as no. 1, writes a policy on sales worth approximately $7.49 billion over 376 transactions. It was followed by Fidelity National Title Insurance with about $4.83 billion in 203 transactions and Chicago Title Insurance with about $2.7 billion in 172 transactions. Royal Abstract of New York is fourth with about $2.55 billion from 208 deals, and Madison Title Agency rounds out the top five with about $2.36 billion from 347 deals.
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Madison declined to comment for this story, while representatives for First American, Fidelity, Chicago and Royal Abstract did not respond to multiple requests for comment.
The analysis only considered large companies — identified in documents filed with the New York City Department of the Treasury — in transactions of $1 million or more. There is not enough publicly available information to determine separate agreements (when two insurers make sales together). That's largely because most of the companies either didn't respond to multiple requests for comment or declined to participate, citing the DFS process.
In the matter of Kensington Vanguard National Land Services, no. 6, the company provides additional information on insured sales between April 1, 2017 and March 31, 2018. As a primary insurer, it has $2.09 billion in business - $1.4 billion commercial and $686.5 million residential. But when collective bargaining agreements are included, Kensington totals $2.9 billion, $2.2 billion commercial and $701.5 million residential. All but one of the separate transactions were of a commercial nature.
The title universe has long been dominated by the "Big Four": Fidelity, First American, Old Republic and Stewart Information Services Corporation. But in March, Fidelity signed an agreement to buy Stewart for $1.2 billion. The deal, which closes next year, will make Fidelity the nation's largest insurer by a wide margin. Before the merger, it controlled 33 percent of the national market and had $7.2 billion in reported revenue.
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Daniel Price, founder and CEO of Manhattan-based OneTitle National Guaranty Company, says consolidation has long been a part of the title business — though deals are rarely as large as the one between Stewart and Fidelity.
Currently, three of the top 20 insurance companies in the ranking are owned by Fidelity: Fidelity National Title Insurance and Chicago Title Insurance and Commonwealth Land Title Insurance Company, which is at no. 7 with $1.78 billion in transactions. Together, these companies generate combined sales of $9.31 billion. Stewart, who may come under the Fidelity umbrella next year, ranked 12th, writing policies for $1.21 billion worth of transactions in 180 properties. Neither company responded to requests for comment.
Consolidating some of the industry's biggest companies could make it harder for smaller companies to compete, sources said. Aaron Krantz, vice president of business development at Omni Title Agency, says companies generally try to stand out by emphasizing factors like customer service.
"We tell our clients that you can call our lawyers at 7 p.m. if necessary," he said, "while the big guys call the office after 5, and you're lucky if someone answers the extension.
Top Title Insurance Firms
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TDI licenses and supervises all title agents in Texas. Our state property insurance business is highly regulated and the ownership companies are audited at least every two years. Every agency must account for every penny they receive and every dollar they spend.
Take a look at this 326 page report and you can see why it took months to gather this information. The report includes each title agency's revenue, expenses and losses. The majority of title companies on the list are independent agents. The others are Affiliate Agents or Direct Operations.
For each agency, they disclose their income, which mostly consists of the amount they collect in owner premiums. In the expense column, you can see how much the total salary they pay to their employees and how much the owner/partner pays. Information on other expenses such as rent, utilities, postage, telephone, delivery costs and office equipment is included.
The expense that I find most interesting is article no. 54 on each list of expenses: Fine or penalty. Yes indeed. You can see who is good and who is bad. I'm relieved to see my own company scores a big zero in that category. Keep in mind that some of these agencies are small "mom and pop" operations while others are large corporations with multiple branches. I number over 100 D-FW agencies with no fines or penalties and 11 with multiple fines or penalties.
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Independent Agent: Profit Title, Affinity Title, Alamo Title, Allstar Title, Loyalty Title, Alliance Title Group, Texas America Title Assurance, Texas AW Title, Texas BCHH Title, Benchmark Title, BNT Texas, Brahama & Escrow Title, Texas Capital Title , Carlisle Titles, Carrington Title Services, Chapin Title, Chronos Title Solutions, Community National Titles, Consolidated Lender Resources, Contemporary Solutions-US, CSP Texas Joint Venture, Decatur Title Corporation, Designated Titles.
Ellis County Abstract and Title, Royal Title Company, National Equity Title & Closing Service, Excel Title Group, Land Fair Title Company, Texas Fair Title, Federal Title, First Rockwall Co, First Title & Escrow, First Western Title Acquisition, FNC Title Service , Freedom Title, Gainesville Title Company, Global American Title Agency, Grand Title Company, Grayson County Title Company, Green Brick Title, GRS Title Services, Inspire Closing Services of Texas, Kane Title, Kensington Vanguard National Land Services of Tx, Lakewood Title, Legacy Pioneering Titles, Texas Heritage Titles, Lenderlive Title Agencies, Lender Title Solutions, Linear Title & Settlement Services, Luna Buyers.
Madison Title Agency, Maverick Title of Texas, MCS Long Star Solutions, Members Title, Meridian Title, Milestone Title Agency, Miller Title, Mortgage Connect of Texas, National Assurance Title, Navy Federal Title Services, Nexbank Title, North Texas Title of Hunt, Paradise Settlement Services, Prima Title, Providence Title, PTS-Texas Title, Ranger Title, Rattikin Title Company, Reltco, Secured Title of Texas, Sentinel Title Company, Sewell Title, Signature Pioneer Title, Silver Star Title , Superior Abstract and Title, Texas Capital Title, Texas Prime Settlement Services, Texas Secured Title Company, Thomas & Escrow Tx Title, Tiago Title, Timios, Title Source, Title365 Company, Transtar National, True Concept Title, Texas Unisource Information Services, Texas United Lenders Services, Vantage Point Title, Westminster Abstract Company, Worth National Title Agency and Xome Settlement Services.
Affiliated and direct agents: Chicago Title Insurance Company, Commonwealth Title of Dallas, Dominion Title of Dallas, HMH Title Company, Landon Title Company, Millennium title Company of North Texas, NETC Title Company, North American Title Company, Novare National Settlement Service, PGP Title, S&S Title Company, Strategic Title Company, Title Clearing & Escrow, Titlevest Agency of Texas, Titlevision Texas and WFG Lender Services.
Earnings Quality Insurance Protection (equip)
After the scandal at the Millennium title, it was surprising to see them on the good list, not the bad list. We'll have to check next year's report for that.
Can't find your favorite company on the good list? That's because there were some violations that were uncovered among our businesses in the D-FW area. Their fines for 2016 range from $33 to $3,825.
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