Hello title readers —
In last week's newsletter, I noted the increased competition in the title space, both from legacy companies expanding their reach and new entrants looking to make their mark. A story we reported on Friday only reinforces that point.
Proper Title, an Illinois-based title insurance agency backed by independent real estate brokerage @properties, announced it hired Judd Hoffman as CEO. Hoffman previously served as chief transformation officer for States Title, where he oversaw the company's use of predictive analytics and technology, and as president of First American Title's direct division.
Hiring a heavyweight like Hoffman is an important part of Proper Title's expansion. "We have built a great foundation in Illinois, and now with Judd at the helm, we're excited to introduce Proper Title to a national audience," said Mike Golden, co-founder of Proper Title and @Properties.
How big could that expansion be? In the latest RealTrends 500 brokerage rankings, @properties ranked ninth in transaction sides, with 33,259 in 2020 and a sales volume of $16.4 billion.
In other closing news, Notarize raised $130 million in a Series D funding round. This kind of interest from investors illustrates the raised profile of closing and title after 2020 — the marketplace is recognizing the possibilities to innovate in this part of the real estate transaction and they're willing to put their money where their mouth is.
Notarize said it was going to funnel the capital into its digital notarization and identity verification technology and would be doubling staff.
Until next week —
Sarah Wheeler
HousingWire Editor in Chief
.jpg?width=1116&upscale=true&name=unnamed%20(1).jpg)
EmoticonEmoticon