Industry News

Stewart expands Puerto Rico real estate services

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Stewart Mortgage Information has expanded its services in Puerto Rico by providing flood zone determinations on mortgage loans originated by R-G Mortgage. R-G Mortgage, Puerto Rico's second-largest mortgage originator and servicer, is a longtime customer of Stewart's. Harold Hickman, Stewart Title's southeast region manager, said the company is excited to see the business relationship expand through R-G's purchase of flood zone determinations. SMI is a wholly owned subsidiary of Stewart Information Services Corp., which also provides title insurance, escrow and closing services through its Stewart Title affiliates and agents. SMI's Flood Determination Services offers an Internet-based service for ordering flood determinations on specific properties. Lenders and other customers send orders for flood hazard analysis, which then check a database of flood zone status of more than 130 million properties in the United States, Puerto Rico and the Virgin Islands. The majority of orders are f...