Information on title insurance acquisitions is one of the many forms of content we present on our blog
When a title insurance acquisition takes place, we believe in sharing the news with the community to help make staying current with the title insurance industry easier.
We have experience with title insurance acquisitions here at Title Insurance Partners. Our experienced counsel of industry veterans have helped companies merge and acquire other properties with fluidity and ease.
Today we are sharing news of recent title insurance acquisitions.
Title insurance acquisitions for November, 2017
According to a recent press release, Mortgage Contracting Services, LLC (MCS), a provider of mortgage services nationwide and the parent company of Lenders Title Solutions, has agreed to acquire the field service division of Carrington Home Solutions, LP (CHS). This division will fuse with MCS’ current field service operations.
As the release states, “Over the past several years, MCS has continued to expand its portfolio of services and capabilities with the acquisitions of multiple national AMC valuation companies, title and settlement providers in addition to growing its field services division, which has operated for over 30 years.”
This title insurance acquisition is set to finalize before the end of 2017.
Potential title insurance merger for Stewart Information Services Corp.
A major title insurance company announced its consideration in merging with another company. According to Houston Chronicle, “Stewart Information Services Corp., the Houston title and real estate services firm, said Monday it is considering putting itself up for sale or seeking a merger partner as it contends with falling profits blamed in part on Hurricane Harvey.”
In addition to the impact of Hurricane Harvey, other factors, including a decline in refinancing orders from a rise in interest rates and employee attrition, have also been cited as reasons for the decline.
The article continues with a look at Stewart’s financial performance over the past quarter. “Stewart’s third quarter profit fell 58 percent to $10.9 million, or 46 cents per share, from $26.4 million, of $1.12 per share a year earlier. Sales fell six percent to $501.6 million from $533.2 million in the third quarter of 2016.”
The news is not all bad for Stewart. Matthew Morris, Stewart CEO, disclosed strategic information that is leading to positive outcomes. Morris stated the company, “has taken ‘swift, aggressive actions’ to offset those losses, hiring new “revenue-generating associates” who have made $20 million to $25 million in sales. He also noted the company’s recent acquisition of title insurance business Title365 is expected to result in as much as $50 million in annual revenue.”
Assistance with title insurance acquisitions and mergers
We offer more than simple consultations for the title industry. Instead of just giving advice to title agencies and underwriters, we strengthen their presence in the marketplace and are committed to our clients’ continued growth and profitability in the title industry. Do you need the help of experienced professionals for mergers and acquisitions? If so, set up a free consultation with us today.
Resources for this article on title insurance acquisitions:
–“Houston title giant Stewart considers possible sale, merger”, Houston Chronicle. November 6, 2017.