Articles from The Massachusetts Focus
Newsletter of Stewart Title Guaranty Company, Massachusetts Offices
Summer 2005, Volume 4, Number 3
by Thomas M. Flynn, Vice President and New England Division Manager
Stewart Retains High Ratings for Financial Strength
Stewart Title’s outstanding financial performance continues to be recognized by the industry’s foremost rating companies with the following marks:
The Company also remains on the Standard & Poor's SmallCap 600 list and the FORTUNE 1000 list of companies.
Harvard Releases "State of the Nation’s Housing" Report
Following are some of the highlights from the report:
- In 2004, housing markets posted record growth. Home ownership reached an all-time record of 69 percent.
- Adjustable rate mortgages accounted for more than a third of all mortgage loans last year and interest only loans for nearly one-quarter.
- Housing affordability worsened between 2000 and 2003 alone; the numbers of households spending more than half of their incomes on housing increased by 2.5 million.
- Households are increasingly taking longer, more costly commutes to lower housing costs. Nationally, the number of workers taking commutes of an hour or more surged by 3.1 million in the 1990s.
American Land Title Association Releases 1st Quarter 2005 Results
Revenue results were generally encouraging as total revenue for the first quarter of 2005 was relatively flat when compared to the record year of 2004’s first quarter. The news on the claim/loss front was not as encouraging. Losses and adjustment expenses increased by 35.4% in the first quarter of 2005 compared to the first quarter of 2004. The industry loss ratio for that period rose from 4.03 percent to 5.45 percent.