The First American Corp. today announced that it has signed a formal agreement to acquire Media, Pa.-based T.A. Holdings Inc. and its subsidiary companies, including Title Alliance Ltd., T.A. Title Insurance Co., Title Abstract Co. of Pennsylvania, TA Financial Services, and 1031 Corp. The transaction, which is subject to normal regulatory approval by the Pennsylvania Department of Insurance, is expected to close early in the third quarter of 2004.
Title Alliance Ltd. specializes in the creation and management of title insurance joint-ventured offices with Realtors, lenders, mortgage brokers and builders. Since its inception, Title Alliance has created more than 60 Real Estate Settlement Procedures Act (RESPA)-compliant joint ventures, according to a company statement.
T.A. Title Insurance Co. is a licensed insurance underwriter in Delaware, Maryland, New Jersey, New York, Ohio and Pennsylvania. The company also serves as an agent in those states, as well as for Florida, Indiana, Kentucky, Michigan, Virginia and West Virginia.
J. William Cotter Jr., president of T.A. Holdings and son of its founder, will continue to manage operations of Title Alliance and its affiliated operations. Cotter, a 40-year veteran of the title insurance industry, has been very influential in the Pennsylvania region, as well as the national title arenas. He was the founding president of the Pennsylvania Title Agents Association, a founding board member of the Pennsylvania Land Title Institute, president of the Pennsylvania Land Title Association and chairman of the Real Estate Services Providers Council (RESPRO).
First American’s primary business segments include title insurance and services, specialty insurance, trust and other services, mortgage information, property information, credit information and screening information.
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