ALTA Reports First-Quarter Title Insurance Premiums

Posted by Orb Staff on June 18, 2010 No Comments
Categories : Residential Mortgage

erican Land Title Association (ALTA) reports that title insurance premiums written during the first quarter this year increased 4.3% when compared to the same period a year ago. According to ALTA's preliminary Market Share Analysis, the title insurance industry generated $2.07 billion in title insurance premiums during the first quarter of this year – up from $1.98 billion during the same period last year. ‘While the housing market is still in the sickbed, its vital signs are stabilizing,’ says Kurt Pfotenhauer, CEO of ALTA. "With transactions still being closed from the home buyer tax credit, we are hopeful positive trends will carry through into the second quarter and beyond." Overall, 30 states experienced increases in title insurance premiums written when compared to the first-quarter of 2009. States with the largest increases in title insurance premiums during the first quarter of 2010 compared to the same period a year ago were Iowa, Maine, Nebraska and Minnesota. Washington, D.C., reported a 57% increase in title insurance premiums generated from the same period a year ago. The states generating the most title insurance premiums during the first quarter of 2010 were California, Texas, Florida, New York and Pennsylvania. SOURCE: [link=http://www.alta.org]ALTA

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