Austin, Texas-based Enverus announced its acquisition of Integrity Title Company, a provider of title plant access in Texas and New Mexico.
In a statement, Enverus said it plans to integrate Integrity Title’s technology into a new online platform called Integrity Title Plants.
Scott Luna, Integrity Title director, said the company’s plant databases currently cover 92 title plant counties in Texas and 15 title plant counties in New Mexico. They also constitute more than 90% and 75% of the population- and title-premium remittance for the two states.
“Anyone who works in a land-based industry knows that constructing a chain of title is a very time-consuming, document-intensive task, requiring multiple searches through cumbersome card and tract plants, and often, in-person trips to county courthouses,” Luna said. “Integrity Title Plants is best positioned to support land diligence for all residential or commercial projects be it land or energy development, including wind or solar farms, highways and road expansion and transmission lines or pipelines.”
Silas Martin, Enverus general manager, said Texas has become the top state in the nation for new population growth — resulting in accelerated demand for title research.
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“If title companies and underwriters are not prepared for the spike in activity, they will miss capturing their share of this expanding market,” Martin said.
In other recent title news, Pennsylvania-based Title Alliance Ltd. has added a second office in Washington, expanding its presence in the Pacific Northwest. The new branch in Tacoma, Washington will be added to Title Alliance’s family of joint ventures with Title Alliance Northwest, which is a partnership with a Keller Williams Realty franchise.
Additionally, title insurance startup Doma — formerly known as States Title — announced recently that it will go public through a merger with special purpose acquisition company Capitol Investment Corp. V. The deal is valued at $3 billion, including debt.