10 mortgage partnerships formed as lenders brace for tough times

A trio of title underwriters are looking to increase their business by adding branches through the acquisition of title and settlement services providers.

The nation’s largest underwriter of title insurance, Fidelity National Financial bought 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 examination, title plant, abstract and settlement services in 121 counties throughout Texas, Oklahoma, New Mexico and Arkansas.

“This is a significant acquisition of an elite, well-operated, fast growing group of title companies that brings management talent and immediate revenue 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 branch and subsidiary office locations nationwide.

“Veritas Title is one of the premier local title agents in the Houston area and adding their 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 bought FNC Title Services, a nationwide company which specializes in reverse mortgage closings.

“As more and more homeowners are looking at home equity as a viable retirement savings, the demand for reverse mortgages is increasing, and FNC has built one of the largest and best settlement service providers for reverse mortgages,” said Stewart CEO Fred Eppinger in a press release. “Their strength in reverse mortgage complements our existing Lender Services business lines and continues our momentum as we build a leading Lender Services organization.”

FNC will continue operating as a standalone company.