HOUSTON (Dec. 15, 2003) - Of the United States' 12 million Hispanic households, 48.8 percent now own their own homes and that rate is growing more quickly than that of the general U.S. population, according to the National Association of Hispanic Real Estate Professionals (NAHREP). Likewise, a U.S. Census Bureau report shows that the 62 percent homeownership rate for naturalized Latin Americans in 2002 was nearly 6 percentage points higher than the rate in 1994.
Recognizing the growing rate of Hispanic home ownership, Stewart Title is reaching out to the Hispanic community with several special marketing programs, Spanish-language title policies, Spanish-English real estate glossaries and educational information specifically for Hispanic homebuyers, sellers, lenders and real estate agents. Stewart also has designed its production processes to accommodate Spanish-language documents.
To help Hispanic consumers, Stewart provides educational brochures in Spanish, covering topics such as "Why Title Insurance," "Selling Your Home," "Buying Your Home" and "Moving Done Right."
Stewart's Spanish-language policies are the American Land Title Association and the California Land Title Association homeowner policies, which are widely used in the real estate industry. The homeowner policy used in Texas will be available in Spanish by the first of the year. Each of the policies is formatted side-by-side, English with Spanish. Stewart also provides real estate agents with Spanish-English real estate glossaries from The Real Estate Center at Texas A&M University to assist their Spanish-speaking buyer and seller customers. In addition, Stewart's title production and escrow systems now are designed for processing documents in Spanish and English.
Stewart also is assuming an active presence in NAHREP. Stewart sponsored the awards luncheon at NAHREP's 2003 national convention and hosted a booth on the exhibit floor. Stewart also provided convention participants with the Spanish-English real estate glossaries.
"Minority consumers are eagerly seeking the American dream of home ownership and Stewart is here to help them navigate the process," said Ginny Abiassi, senior vice president, director of Marketing & Communications and senior underwriter, Stewart Title Guaranty Co. "Title insurance is a fundamental part of our property system and all homeowners need to be aware of the financial protection that title insurance provides."
Stewart also provides its "Why Title Insurance" brochure in Korean, and soon will provide title policies and consumer brochures in Chinese.
Stewart Title is a wholly owned subsidiary of Stewart Information Services Corp. (NYSE-STC), a technology driven, strategically competitive, and global real estate information company. Stewart provides title insurance and related information services through more than 7,100 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, document preparation, property reports, background checks and online property auctions. Stewart also supplies post-closing services to lenders, automated county clerk land records, property and land ownership mapping, and GIS for governmental entities. Stewart provides expertise in tax-deferred exchanges. More information about Stewart can be found at www.stewart.com.