Articles from The Massachusetts Focus
Newsletter of Stewart Title Guaranty Company, Massachusetts Offices
Fall 2005, Volume 4, Number 4
by Thomas M. Flynn, Vice President and New England Division Manager
Title Insurance Industry Still Faring Well Despite Challenges
The industry enjoyed a healthy market and strong buy/sell transaction numbers that led to a solid first half to partially overcome some hits the industry has taken in the first half of 2005. The negative factors include: a massive class action lawsuit on reissue rates in New York, the announcement of RESPA roundtable discussions, fines from Colorado and California departments of insurance, non-compete trials that pitted underwriter against underwriter, and settlements with HUD.
Stewart Title Teams Up With a Minority Real Estate Trade Group
Stewart Title and the National Association of Real Estate Brokers, Inc. (NAREB), a minority real estate trade association, have formed an alliance to expand homeownership. Through their alliance, Stewart and NAREB will promote minority interest homeownership with education, counseling, and grassroots programs designed to simplify the home buying process. In a related matter, Stewart has made a $2 million deposit with Citizens Savings Bank & Trust Co. in Tennessee, the oldest continuously operated minority-owned bank in the nation. The deposit will serve as a model to be used nationally to help minorities achieve the American dream of homeownership and assist in the growth of small-business opportunities.