Industry News

Cendant Settlement Services to make big purchase in Texas

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Cendant Settlement Services Group, a subsidiary of Cendant Corp., has plans to enter the Texas market with the acquisition of a few prominent title companies based in the state. The Cendant subsidiary said Wednesday that it has signed a definitive stock purchase agreement with owner Herbert L. Williams to acquire American Title Co. of Houston, Texas American Title Co., Title Resources Guaranty Co., and their related title companies based in Texas. The agreement is subject to state insurance regulatory approvals and other customary closing conditions, and the transactions are expected to close within 60 to 90 days. The acquisitions establish Cendant Settlement's entrance into the Texas market with a direct title operation and an in-state footprint highlighted by a large presence in Houston and Austin. Texas American Title Co. reportedly is the largest independent title agency in Texas. The acquisition also markets Cendant Settlement's initial venture as sole owner and operator ...