Ledes from the Land of Enchantment

Stewart Title shows no signs of slowing expansion

Stewart title has acquired Las Cruces summary and title according to a message from Friday. Las Cruces Abstract and Title was founded in 1926 and serves the counties of Dona Ana, Hidalgo, and Luna in southern New Mexico.

This purchase is just the latest in Stewart’s chain of acquisitions as the company sought to expand its share of the title insurance market. Earlier this month the company announced the acquisition of Rainier titleand strengthens its presence in the Pacific Northwest.

“The addition of Rainier creates additional growth opportunities for both teams and builds on the momentum we’ve created across the country,” said Steve Lessack, president of Stewart Group, in a statement.

Both acquisitions come just a few months after the takeover Sacramento Stewart Title (STS) and Stewart Title of the Placer (STP), two independently branded agents of Stewart Title Guarantee Company serving counties of Sacramento, Placer, El Dorado and Yolo in September, and Title First Agency Inc, which is licensed in 34 states and has strategic partnerships across the country, in July.

“Title First has grown into one of the largest independent title agencies in the country and is building strong partnerships in the United States to support its retail, corporate and credit customers with their purchase and refinancing transactions,” Lessack said in a statement from Acquisition

Additionally, Stewart has worked to expand his data and analytics skills. Earlier this month there was the takeover of PropStream, a real estate data and analytics aggregator, for $ 175 million. This only happens a little over two months after the company took over. announced Informative research, a Houston-based mortgage-focused data and analytics technology company, for $ 192 million.

For the third quarter of 2021, Stewart reported net income of $ 88.7 million compared to $ 55.9 million for the same period last year. In addition, the company had direct title revenue of $ 366.1 million, up 31% from the third quarter of 2020.

Comments are closed.