Industry NewsMarkets & Economy

Mercury looking to sell Colorado title companies

Investor, underwriter First American said to be buyer

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Mercury Companies Inc., a Colorado-based holding company that's closed down its title and escrow companies in California, Arizona, Texas, Oregon and Nevada says it's in negotiations to sell its remaining title companies in Colorado to First American Corp. A spokeswoman for First American would not comment on the announcement by Mercury, which claims the companies are negotiating interim financing for the sale of Mercury's Colorado companies, including Security Title, First American Heritage, Title America and United Title Company. "While rising economic pressures and a declining real estate market forced Mercury Companies to close its operations in Arizona, Texas and California, its 60-year-old Colorado title companies continue to remain profitable and maintain strong market leadership, sharing approximately 30 percent of the Colorado market," Mercury said in a statement. On July 29, Mercury shut down its title and escrow subsidiaries in California, Texas and ...