Industry News

First American to buy Pennsylvania title cos.

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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, K...