HOUSTON (Oct. 10, 2002) - The National Title Services (NTS) division of Stewart Title Guaranty Co., a wholly owned subsidiary of Stewart Information Services Corp. (NYSE-STC), today announced a strategic alliance with GMAC Home Services. As a result, Stewart title insurance, escrow and closing services will be offered to GMAC Real Estate, a business unit of GMAC Home Services, that includes more than 20,000 sales associates working in 1,300 company owned and franchised real estate offices.
"This is a win-win opportunity for Stewart and GMAC Home Services," said Malcolm S. Morris, president, Stewart Title Guaranty Co. "Stewart will serve as a consultant to GMAC Real Estate broker/owners and their agents to customize their title needs at the local level."
The NTS division will serve as a catalyst bringing the strength and knowledge of the Stewart network of more than 6,200 issuing offices and the complete bundle of products and services to the GMAC Real Estate offices and the thousands of agents in North America.
"We're pleased to add Stewart to our list of marketing partners at GMAC Home Services," said John Bearden, president and CEO of GMAC Home Services. "GMAC Home Services' partnerships provide our agents with the best tools in the business to improve their effectiveness. We team up with leaders in real estate products and services, such as Stewart, to offer preferred relationships to our sales associates so they can focus on what they do best - selling real estate."
Stewart will develop title programs and closing services that are customized to meet the business needs of each GMAC Real Estate franchisee.
About GMAC Home Services
GMAC Home Services is one of North America's largest real estate organizations, delivering premier service to homebuyers and sellers through its three operating companies, GMAC Real Estate, GHS Mortgage and GMAC Global Relocation Services. Backed by the resources of industry giant General Motors, the GMAC Home Services network has 1,300 franchised and owned residential real estate offices and more than 20,000 sales associates throughout the United States and Canada.
Stewart Information Services Corp. is a technology driven, strategically competitive, global real estate information company. Stewart provides title insurance and related information services through more than 6,200 issuing locations in the United States and several international markets. Stewart meets the needs of the real estate and mortgage industries through the delivery of information services required for settlement using e-commerce. These services include title reports, flood determinations, property appraisals, surveys, document preparation, property reports and background checks. Stewart also supplies post-closing services to lenders, automated county clerk land records and GIS for governmental entities. Stewart provides expertise in tax-deferred exchanges. More information about Stewart can be found at www.stewart.com.