Stewart Title announces Green Title insurance initiative
Denver is prototype office for Stewart’s new Green Title initiative
HOUSTON (Nov. 14, 2007) – Responding to environmentally conscious home-buyers and sellers, builders and lenders, Stewart Title is leading the real estate services industry by introducing its Green Title initiative, offering a Green Title Policy produced by a Stewart Title office that is certified as Green.
“In a typical real estate transaction, the amount of paper and other resources used is staggering,” said Stewart Morris Jr., president, Stewart Title Co. “Across the industry, depending upon the type of transaction, approximately 460 pieces of paper are generated in a single closing. Multiply that by all the industry’s closings each year and the implications are clear.”
With an estimated 5 million residential sales forecast in 2008, combined with 2.8 million refinance transactions, a total of 7.2 million reams of paper would be used. The industry-standard calculation of 16 reams of paper being produced by one tree translates to more than 450,000 trees consumed.
“Stewart’s Green Title Policy enables environmentally sensitive customers to electronically order their title and escrow services, have their title commitment and closing statement sent electronically, read their closing documents online and close their home electronically,” said Morris. “In addition, these offices will be paperless in their title and escrow process.
Stewart’s Green Title Policy will use Stewart’s online SureClose® transaction management and eClosingRoom™ technologies.
Stewart also will Green its internal processes and facilities
The second aspect of Stewart’s Green Title initiative is for Stewart Title office facilities to adhere to specific Green guidelines.
“Stewart Title continues to honor our 114-year legacy of commitment to the core values of integrity and respect,” said Morris. “We are joining those who are dedicated to industry-leading technology and to environmental sustainability. Stewart Title will set the pace for the real estate industry as a whole to reduce, reuse, recycle – and rethink the way our business is done.”
Stewart Title offices will move to meet Green requirements in the areas of environmental mindfulness, mixed-use recycling, advocacy, associate action and creative eco-solutions.
Stewart Title of Colorado – Denver is the first Stewart office to attain Green certification.
“Stewart Title is proud to enhance our position of corporate responsibility by modifying our internal processes, procedures and facilities to work toward compliance with the Green marketplace,” said Morris. “We understand the benefits, and believe consumers and other participants in the real estate transaction process will appreciate and take advantage of our Green Title initiative.
“It takes all the participants in the process to make the residential real estate transaction end-to-end paper free,” he added. “We can all work together to take what has been a paper and energy-intensive home-buying process to a new Green-efficient process.
“Stewart is in the business of securing property ownership rights for individuals. This planet is the property of us all. We should work to ensure our property has a sustainable future.”
Stewart Title and Stewart Title of Colorado – Denver are wholly owned subsidiaries of Stewart Information Services Corp. (NYSE-STC), a customer-driven, technology-enabled, strategically competitive, real estate information, title insurance and transaction management company. Stewart provides title insurance and related information services required for settlement by the real estate and mortgage industries through more than 9,500 policy-issuing offices and agencies in the United States and international markets. Stewart also provides post-closing lender services, automated county clerk land records, property ownership mapping, geographic information systems, property information reports, flood certificates, document preparation, background checks and expertise in tax-deferred exchanges. More information can be found at www.stewart.com/.