Industry Updates
What is “Direct Operations”? Well, in a nutshell, it is when a commercial title insurer such as First American, Lawyers Title, Commonwealth, Stewart, Ticor, Chicago or Fidelity approach lenders and real estate sales professionals directly and attempt to capture all of their title business. Such title business can include all title work, all deed work, all closing work as well as the issuance of a title insurance policy with 100% of the premium being retained by the Insurance Company. The work is performed without the assistance of independent attorney agents. The idea behind Direct Operations is to by-pass the independent attorney agent and cut them out of the deal. All of the above named title insurance companies are seriously engaged in the business of Direct Operations in Vermont.
Direct Operations is happening in the residential arena and in the commercial arena, too. It is being done on home-equities, re-finances and also on new purchases.
CATIC®/VATC does not engage in Direct Operations.
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