Mortgage News June 19, 2023
On Monday, Title Resources Group (TRG), a prominent underwriter of title insurance, revealed that HomeServices of America, a subsidiary of Berkshire Hathaway and a major player in the residential real estate industry, has raised its ownership share in TRG.
According to a joint press release, this development strengthens the existing partnership between the two leading companies in their respective industries.
Gino Blefari, CEO of HomeServices, expressed his enthusiasm for strengthening the connection with Title Resources Group and other partners, including Centerbridge, Anywhere, and Opendoor. He highlighted the valuable outcomes already achieved through their collaborative efforts and expressed anticipation for continued cooperation. Blefari eagerly looks forward to the collective positive influence they will exert on the industry in the future
According to the market share data of the American Land Title Association in 2022, TRG, which was founded in 1984, is acknowledged as one of the largest title insurance underwriters in the United States. The company operates in 37 states and the District of Columbia, providing reliable underwriting solutions to title insurance agents while demonstrating expertise and responsiveness.
Throughout its existence, Title Resources Group has consistently remained profitable, with no recorded net operating losses in any fiscal year, as reported by the company.
Scott McCall, president and CEO of TRG, expressed his team’s excitement regarding HomeServices of America’s choice to elevate its ownership share in their company. He emphasized that the expanded relationship with HomeServices of America reflects the significant value they provide to their customers through their exceptional solutions.
Apart from HomeServices of America, Title Resources Group’s notable shareholders consist of Centerbridge Partners, L.P., Anywhere Real Estate, Inc., and Opendoor Technologies, Inc.
As one of the leading title insurance underwriters in the country, Title Resources Group is committed to serving the real estate industry. The company prioritizes integrity, financial stability, and long-term partnerships while delivering high-quality underwriting solutions.
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