Good afternoon —
The title space is changing fast, with consolidation among both title companies and the real estate, mortgage and technology companies they rely on to do business. Last week alone, settlement services firm Covius acquired doc prep company Nationwide Title Clearing and real estate brokerage Compass bought LegacyTexas Title Co.
As the president and COO of Covius, John Surface, explained: "Our robust solutions span origination, servicing and capital markets segments, offering loss mitigation and loan modification services, document and critical borrower communications, title and settlement services, auction and REO asset disposition, verifications and due diligence."
To get those capabilities, Covius acquired reQuire Holdings in 2018, Chronos Solutions in 2019 and Clayton Services from Radian in 2020. It also meant assimilating 550 people from Clayton and now 670 employees from NTC.
The lines between companies in real estate, mortgage, title and tech are really blurry these days as everyone tries to stake their claim on as much of the home-buying process as possible, and perhaps position themselves as a one-stop shop.
That's why we have designed our HW Annual event next week in Dallas around All Things Housing. Join us for sessions on The Future of Title and A Crystal Ball for eClosings, as well as incredible sessions on cybersecurity, innovation in a purchase market (hint: title is definitely a part of that) and so much more.
Readers of this newsletter get a special discount: register here with the code annual21editor. I'd love to meet you in person!!
Until next week —
Sarah Wheeler
HousingWire Editor in Chief
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