Title Resources Group announces acquisition, investor
Title Resources Group announces acquisition, investor | Insurance Business America
Property
Title Resources Group announces acquisition, investor
Deals mean increased scale for the firm
Property
By
Terry Gangcuangco
Title insurance underwriter Title Resources Group (TRG) has acquired Doma Holdings while securing an investment from Lennar subsidiary LENX.
Doma Title Insurance (DTI), the underwriting arm of Doma, is now fully owned by TRG. Doma’s technology division, rebranded as Doma Technology LLC (Doma TechCo), will operate alongside TRG as a sister company on a separately capitalized basis.
Meanwhile, in addition to new minority owner LENX, TRG’s ownership group includes Anywhere Real Estate, Berkshire Hathaway affiliate HomeServices of America, Opendoor Technologies, and biggest shareholder Centerbridge Partners.
TRG chief executive Scott McCall noted: “Combining DTI with TRG’s existing underwriter, we have become the fifth largest independent underwriter in the United States. We look forward to leveraging our increased scale to create more value for our agents and partners in the marketplace.
“Our partnership with [homebuilder] Lennar speaks volumes to who we are as a company and the value we deliver. We have always been interested in expanding our relationships within the homebuilding community and Lennar becoming a part-owner of TRG is an exciting milestone in fulfilling that goal.”
Emilio Fernandez, president of DTI, echoed McCall’s enthusiasm, stating: “The DTI team and I are excited to continue our journey under Scott’s leadership. TRG’s customer-first mentality, commitment to high quality, and genuine approach to partnerships are attributes we both value.
“Our dual commitment to these shared values will allow us to service our customers more effectively than ever. I’m excited about our shared future.”
For LENX president Eric Feder, the strategic investment in TRG demonstrates his camp’s commitment towards fostering innovation across the homebuilding and homebuying process and enhancing stakeholder value.
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