#AgentsNationalTitleHoldingCo. and #BostonNationalHoldingsLLC have been sold by #IncenterLLC, a subsidiary of #FinanceofAmericaCompaniesInc.
Holding company #EssentGroupLtd. will take ownership of the entities in a $100 million deal.
#NearNorthTitleGroup has #acquired #Chicago-based #O’ConnorTitleGuaranty, according to a recent announcement.
O’Connor Title Guaranty is a 20-year-old agency serving Chicagoland and Southern #Illinois.
#RealAdvantageTitleInsuranceCo. #RATIC of Santa Ana, Calif. expanded its offering to most states through a new #agencydivision.
RATIC, touting strong capital and surplus, is licensed to issue #policies in 30 states.
A now-insolvent company owned by two sisters purchased property in Pasadena, Calif. After receiving their loan, the seller rescinded the sale. The sisters failed to inform the lender, continuing to pay the required interest-only payments on the loan for six years. The lender began foreclosure proceedings and discovered the sale had been rescinded. After settling with the title insurer, the title insurer sued the sisters for breach of contract and fraud.
The Colorado Division of Insurance provided the state’s General Assembly with its annual report on the title insurance industry. The report contains data on the number of enforcement actions taken, as well as market trends associated with the industry for the year 2022.
The Colorado General Assembly is considering modifications to the closing and settlement process for real estate transactions to ensure that the funds are confirmed to be received and deposited properly.