True Stories: Hybrid, eNote and RON Implementation

Join expert panelists that will discuss the status of federal legislation, trends in digital adoption and how best to prepare your organization for the next generation of lending processes.

Logan Mohtashami talks jobs report, mortgage forbearance

Lead Analyst Logan Mohtashami discusses his recent article on the latest jobs report and the most likely impact on the housing market and mortgage forbearance.

UWM has a plan to win a war of mortgage attrition

UWM's margins will fall all the way down to 75 to 110 bps. Mat Ishbia says it's the perfect environment to prove that his mortgage firm is truly elite.

Lunch & Learn about underserved markets and affordable housing

Experts in this discussion will focus on how the mortgage industry is working to right previous wrongs and champion a housing market that serves all.

Closing

Stewart Title acquires New Mexico-based company

Company continues growth following banner 2020

Add another company to the Stewart Title family tree.

The title and closing giant announced last week the acquisition of Prima Title, LLC, a Santa Fe, New Mexico-based company, to its Southwest portfolio. The move comes on the heels of Stewart’s acquisition of A.S.K. Services, a title and search support servicer, in March.

Ryan Swed, Stewart Title senior vice president, said that the addition of Prima Title fits its larger strategy of overall strengthening their foothold in markets in Southwest states such as New Mexico, Arizona and Nevada.

“They have built strong real estate relationships, and are known for excellent service,” Swed said. “As we continue to execute on our strategy of building out and prioritizing strengthening our local markets, the addition of the Prima team in Santa Fe makes us the leader in the local market.”

Absorbing companies under its umbrella is nothing new for Stewart, which last year went on an acquisition spree.


How lenders will benefit from Proctor Financial’s acquisition of Loan Protector

HW+ Managing Editor Brena Nath joins Proctor Loan Protector executives Damon Laprade and Mike Dimas to discuss the acquisition and the new brand, Proctor Loan Protector.

Presented by: Proctor Loan Protector

In September, Stewart acquired six companies, 57 offices, and an additional 600 employees. It also grew its Alaska operations with the acquisition of Yukon Title. In October, Stewart acquired valuation services company Pro Teck Valuation Intelligence, followed by an announced November partnership with money transfer protection company CertifID and a December acquisition of NotaryCam, a top online notarization provider and mortgage eClosings solutions provider.

Stewart has made a conscious effort in 2021 to bolster its title services team; the company recently announced the hiring of a new group vice president, Ana Villela-Murillo, for the Southeast, as well as a new senior vice president, Peggy Sue Lane, covering southern California, Nevada, and Arizona.

Stewart nearly doubled its earnings in 2020, with $154.9 million reported – up from the $78.6 million it made in 2019. In the fourth quarter of 2020, the company reported a net income of nearly $60 million, driven by historic mortgage originations. That’s quite a change considering the company only broke even during the fourth quarter of 2019. Operating revenues checked in at $728.3 million, an increase of $215.6 million, or 42%, higher than the third quarter.

Stewart’s stock is up 25% over the past six months. As of Monday, shares were trading at $57.83.

Leave a comment

Most Popular Articles

Generation X is looking to move to these metros

Millennials aren’t the only generation in the market for their dream home. Right now, Generation X makes up over a quarter of potential homebuyers.

May 14, 2021 By

Latest Articles

California’s consumer protection watchdog is “mini CFPB”

California intends to exercise its new muscles on behalf of residents easing back into the normal flow of housing financial responsibilities. HW+ Premium Content

May 18, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please