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Yurii Kibalnik - stock.adobe.com
While Essent's move to purchase Finance of America/Incenter's title insurance businesses has been the sector's big headline news as of late, this segment has seen quite a few mergers or partnership agreements since the start of the year.

Many of the deals cross various segments in mortgage: underwriter, agency/settlement services provider or technology companies.

Here is a roundup of several of the transactions that have taken place so far in 2023:

Feb. 2: AgentHome buying California provider

AgentHome, a Maitland, Florida-based network of independent title agents, has agreed to buy Corinthian Title Co. of San Diego.

"We are delighted that the Corinthian team has joined our network of independent title agencies who want to leverage our resources — and each other — to grow their businesses while maintaining their unique cultures and local expertise," said Mary O'Donnell, president and CEO of AgentHome.

The company provides title and escrow services in 28 California counties through 10 offices covering 90% of the state's population.

"When my husband, Ron, and I joined Corinthian, we envisioned a day when we would find a partner to help us achieve our growth potential while maintaining our corporate leadership team, deep community roots, and strong culture," said Sherry Maudsley, chairman and CEO. "We could not have hoped for a better partner than AgentHome to help Michael [Godwin, Corinthian president] and his team lead our agency into the next phase of growth."

Terms of the deal were not disclosed. Draycott Place Partners served as the financial advisor to Corinthian. Nelson Mullins served as legal counsel to AgentHome.

Feb. 2: First American expands property exchange business

First American Financial acquired the assets of 1031 Solutions, which provides qualified intermediary services for real estate exchanges, including reverse and improvement exchanges, to attorneys, tax advisors, real estate professionals and investors.

The acquired company's name refers to Section 1031 of the Tax Code, "exchange of real property held for productive use or investment."

All of Boulder, Colorado-based 1031 Solutions' capabilities will now be positioned under the First American Exchange Co. brand.

"The addition of 1031 Solutions will augment our ongoing efforts to offer customers in the Rocky Mountain region and surrounding markets superior service, and we're looking forward to pursuing new opportunities for growth," said Julie Baird, president of First American Exchange.

The founders of 1031 Solutions, Richard and Linda Levy, are assisting with the transition of the business and customer relationships.

Feb. 1: Insurance holding company enters agency business

Zimmer Financial Services Group has started Iron Title, an agency whose leadership team includes former First American executives.

Iron Title already has begun operations in Florida, and will be expanding into strategic markets nationwide in the coming months.

Its CEO, Judd Hoffman, is the former president of First American Title's direct division. He is joined by Philip Wilson, the chief operating officer and Trenton Steindorf as senior vice president, both of whom were executives with First American Financial. Most recently, Wilson was senior division president at Stewart Title, and Steindorf served as assistant vice president of strategic initiatives at Orange Coast Title.

"We see the value in the human side of the title process — in delivering white-glove service to all parties of a transaction," said Hoffman. "We are recruiting people who believe in this, and investing in the best AI-driven technology to scale the high-touch experience."

Other Zimmer entities include: Ategrity Specialty Insurance Co., an insurer in the excess and surplus market; Sequentis Reinsurance; Carrick Specialty Holdings, which provides reinsurance and run-off management solutions; and Zimmer Partners, a research-driven, multibillion dollar investment adviser.

Jan. 30: Chicagoland agencies combine

Near North Title Group has purchased another Chicago-based agency, O'Connor Title Guaranty, the latter's investment banker Brighthorn Partners announced.

Near North has been in business 30 years offering residential and commercial services, while O'Connor was active for 20 years.

"I am excited about this next step for O'Connor Title Guaranty – and the platform Near North Title Group provides that will allow us to continue to serve our clients with the skill, care and professionalism that is core to our company," said the acquired company's CEO, John O'Connor. "We are immensely grateful to the Britehorn team, led by Bobbi Babitz Armstrong, for guiding us to a successful transaction in a turbulent market for title."

Jan. 19: Doma partners with digital payments provider

Title insurance underwriter Doma added paymints.io to its AgentMarketplace vendor partnership program, looking to reduce the risk of wire fraud and allow homebuyers to digitally deposit money.

Through the AgentMarketplace program, Doma partners with service providers to offer title insurance professionals products and services, along with education services.

"Paymints.io's focus on leveraging digital technology to create faster, more efficient closing experiences supports Doma's mission to transform real estate transactions using patented machine-learning technology," said Emilio Fernandez, president of Doma Title Insurance.

Paymints.io offers a white-label application to create a digital payment system with user's branding and imaging.

"As we further enter the digital transformation of the real estate transaction, we're excited to partner with Doma, whose mission of building an instant and frictionless home closing experience aligns harmoniously with our efforts to automate the payment experience," said Perla Aparicio, Vice President of Strategic Partnerships at paymints.io.

Jan. 10: Stewart adds another agency to its operations

Stewart Title, which has added a number of agencies and technology companies to its business following the collapse of its acquisition by Fidelity National Financial, has purchased the Elite Family of Companies.

"With the addition of the Elite Family of Companies team, Stewart further highlights our commitment to investing in attractive markets, both in Ohio, where we are a leader in the top three markets, and across the country," said Steve Lessack, Stewart Group president.

Those agencies are Elite Land Title; Aspen Land Title Agency; and Citizens Land Title Agency, all located in Ohio.

"The combination of our cultural alignment, along with Stewart's financial strength, the digital tools and new technologies Stewart offers will allow us to continue to grow, as we have over the past two decades," said Shannon Corwin, the president of Elite Land Title. "The combination of our team with the broader Stewart team across the region presents tremendous opportunities for all of us in Central Ohio."

Jan. 9: Connecticut underwriter purchases online resource

CATIC, an independent title underwriter based in Rocky Hill, Connecticut, acquired Lane Guide Lenders On Line.

Lane Guide is a resource for parties to find information about items that can affect the title such as loan payoffs, demands, lien discharges and more.

"For 65 years, Lane Guide has been a leading source of data on individual lenders and the lending industry as a whole," stated Steve McAdams, a vice president at CATIC who is now also Lane Guide's president. "We are pleased to add Lane Guide to the CATIC Family of Companies and look forward to continuing and expanding Lane Guide's long history of providing vital data to the lending, real estate, and investment industries."

Jan. 9: Home equity title decisioning and closing partnership created

Real estate technology company Flueid is teaming up with home equity lending fintech FirstClose, in a partnership that promises to reduce the transaction timeline down to as little as five days.

The integration makes Flueid Decision, the title data and decisioning platform, available in the FirstClose digital home equity lending platform. Lenders can check title and other data at the start of the loan and find out immediately if a transaction can close without any title issues. 

"The synergies between our technologies make for a very organic integration: Our upfront title decision with FirstClose's data and workflow solutions are helping lenders reimagine current processes, optimizing them for the future to drive down home equity transaction timelines to just days in a world where time is money," said Peter Richter, Flueid's president.

Jan. 4: TitleEase gets Texas license

TitleEase, a Providence, Rhode Island-based franchisor of title and settlement services providers, is now licensed by the Texas Department of Insurance.

"According to Zillow, the Texas Home Values index increased 14.6% from 2021 to 2022," said Joseph D'Urso, TitleEase CEO. "We have received high interest for franchises in the State of Texas and are excited we can now service those individuals."

In addition to Texas, TitleEase has obtained title agency licenses in Colorado, Delaware, Florida, Georgia, Indiana, Maine, Michigan, Minnesota, Nebraska, New Jersey, New York, Rhode Island, Tennessee, Virginia and West Virginia. It plans to add additional state licenses and expand its national footprint during 2023.
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