Archive for the ‘Industry News’ Category
Acquires Community Title Services of Nevada
Portland, OR June 17, 2013 Williston Financial Group (“WFG”), the parent company of WFG National Title Insurance Company, has acquired Community Title Services of Nevada. The WFG family is licensed to provide title insurance in 41 states nationwide. The Williston Financial Group family is a full service provider of title insurance and real estate settlement services for lender, commercial and residential transactions, nationwide.
Based in Las Vegas, Community Title Services of Nevada will now operate as WFG National Title Company of Nevada. Alan Maynor will oversee the local operation as Division President, and will be charged with growing the company’s footprint in the market while maintaining relationships with existing clients.
“This acquisition is consistent with the steady, strategic pace WFG has set for its growth,” said WFG President and CEO, Patrick Stone. “We are looking forward to extending our presence with an established direct operation in one of the nation’s critical real estate markets.”
“We have been presented with a strong opportunity to extend the WFG brand in Nevada,” said Maynor. “We have long operated under the philosophy that our customers are the sole reason for our existence, which is central to WFG’s brand as well. Our customers will benefit from the combination of resources under a client-friendly focus.”
For more information, go to www.wfgnationaltitle.com, or contact Maynor at (702) 948 – 5400 or email@example.com.
About Williston Financial Group
Williston Financial Group is the Portland, Oregon-based parent company of several national title insurance and settlement services providers, including WFG Lender Services and WFG National Title Insurance Company. It is the fastest growing national title insurance and settlement services provider in the mortgage and real estate services industry.
WFG National Title Insurance Company is a national provider of premium title insurance and settlement services to the real estate and mortgage industry. The company also delivers a wide variety of residential and commercial mortgage lender services, including default and real estate owned transactions. The company enjoys a Financial Stability Rating of A’ (A prime) as assigned by Demotech, Inc. WFG Lender Services is a provider of premium title, closing and settlement services in all 50 states for mortgage lenders of all sizes. The company fields national processing offices in Texas and California, and delivers a wide variety of residential and commercial mortgage lender services, including title insurance, closing, escrow and more.
Built around the directive to “communicate, collaborate, coexist,” Williston Financial Group is committed to applying a new philosophy to the traditional mortgage and real estate industry, working to meet the changing needs of its clients, agents and associates. For more information, please go to www.WFGNationalTitle.com or www.WFGLS.com.
Presented to executives demonstrating industry-changing leadership in the mortgage and settlement services field
Santa Barbara, CA June 11, 2013WFG National Title Insurance Company (“WFG National Title”) Executive Vice President Joseph Drum, Esq. was announced as the recipient of October Research’s prestigious Joe Casa Leadership Award today. October Research is the publisher of several mortgage and real estate focused publications, including The Title Report and Dodd Frank Update. WFG National Title is a full service provider of title insurance and real estate settlement services for commercial and residential transactions nationwide.
The Joe Casa Awards for Leadership, Innovation and Philanthropy were named after the late founder of October Research Corporation. The awards are intended to recognize the highest standard of professional achievement in the title insurance and settlement services industries, and were presented today during the National Settlement Services & Compliance Summit in Cleveland, Ohio.
Drum was selected from a number of industry nominees on the basis of the following criteria:
- Length of career and positions held; integrity.
- Unsurpassed demonstration of leadership throughout the course of his career
- Clear and beneficial impact of his leadership on the industry throughout his career
Drum currently sits on the executive committee for Williston Financial Group, and oversees the agency division for WFG National Title Insurance Company. In its first three years, the business has grown to be the 8th largest title underwriter in the nation. His career in the title insurance industry spans 39 years.
Prior to joining WFG National Title, Drum was President of United General Title Insurance Company and EVP at First American Title Insurance Company and Fidelity National Title Insurance Company, where he was in charge of all agency operations and strategic initiatives for several brands.
Drum is the co-author of three books: Understanding RESPA (Library of Congress No. 94-78352), Understanding Reg X, and Mortgage Financing. He has also been elected a Fellow of the American College of Mortgage Attorneys (“ACMA”), a national honorary organization that recognizes outstanding lawyers specializing in the field of real estate mortgage lending and related activities. He is a member of The Boston Bar Association, The Massachusetts Conveyancers Association, The Connecticut Bar Association, New England Corporate Counsel Association, past Chairman of the Real Estate Committee of the Westchester and Fairfield County American Corporate Counsel Association, and past President of The New England Land Title Association.
Among the acts of leadership cited in the presentation of the award was Drum’s role in battling the rise of alternative title insurance products which many felt posed risks to consumers and the industry alike. In the late 1990’s, a number of non-title insurers began offering various “mortgage impairment” products culminating in a product offered by Radian as an alternative to traditional title insurance. Working behind the scenes, Drum mobilized his employers and the industry trade association to actively fight these attempts to insure only the very low risk loans and leave the traditional title insurance industry with the higher risk loans. The effort culminated in a ruling by the California Insurance Commissioner in 2003 that the Radian product was, in fact, title insurance and that only a licensed title insurer could provide such coverage. Shortly thereafter, a large number of states nationwide followed suit, effectively ending the groundswell toward the alternative product.
“Joe has been one of the preeminent champions for the title industry for decades,” said Patrick Stone, President and CEO of Williston Financial Group. “His leadership has helped guide the industry through challenging times, and he has been the consummate spokesman in communicating the value of title insurance to consumers, regulators and clients alike.”
About WFG National Title Insurance Company
WFG National Title Insurance Company, a Williston Financial Group Company, is a national provider of premium title insurance and settlement services to the real estate and mortgage industry. The fastest growing national title underwriter, the WFG family was the nation’s eighth largest provider of title insurance at the end of the third quarter in 2012, less than three years after its entry to the market. (Based upon market share. Source: American Land Title Association http://www.alta.org/industry/financial.cfm). WFG National Title also delivers a wide variety of residential and commercial mortgage lender services, including default and real estate owned transactions. The company enjoys a Financial Stability Rating of A’ (A prime) as assigned by Demotech, Inc. Built around the directive to “communicate, collaborate, coexist,” WFG National Title Insurance Company is committed to applying a new philosophy to the traditional mortgage and real estate industry, working to meet the changing needs of its clients, agents and associates. For more information, please go to www.WFGNationalTitle.com.
WFG Lender Services Broadens Capabilities with Acquisition of Valutrust
Addition of national vendor management firm and platform will increase geographic coverage for lending clients.
Westlake Village, CA—April 15, 2013 WFG Lender Services (“WFGLS”) has acquired Valutrust Solutions, LLC (“Valutrust”), a national mortgage services and technology development business based in Overland Park, Kansas. WFGLS is a national, full service provider of title insurance and real estate settlement services for lender real estate transactions.
The acquisition of Valutrust expands WFGLS’ product offerings in two ways. First, it extends the company’s menu of services to include appraisal management in all 50 states. Secondly, the Valutrust technology platform gives lenders the capability to manage all mortgage related services. The proprietary technology integrates with clients’ loan origination systems, allowing lenders to manage third party lending activity such as appraisal management, collateral review, flood certifications, 4506 tax returns, title and closing services.
“We are delighted to have Valutrust affiliated with WFG,” said Patrick Stone, President and CEO of WFGLS parent company Williston Financial Group. “This transaction will provide our loan originators the most elegant and efficient platform for ordering and tracking appraisals, title and other components of the mortgage transaction. Our lending client will now be able to order and track all phases of the entire loan process using what we believe to be the nation’s most comprehensive platform for appraisal and title transaction management.”
“The addition of Valutrust expands the resources WFGLS provides for mortgage lenders throughout the country, growing our product offering to include appraisal products and a top-flight technology,” said Bill Moody, Executive Vice President overseeing WFGLS. “For our clients, this means more products from which to choose and improved efficiency.”
Lance Melber, Co Founder and CEO of Valutrust, sees a natural fit between WFGLS and Valutrust, “Both companies have long operated with the same core philosophy: Without the client, we simply do not exist. Everything we do is for the customer. The Valutrust Portal drives efficiencies for our clients, saving them time and money. In combining our resources with WFGLS, we look forward to building an even stronger experience for our clients.”
For more information about WFGLS, go to wfgls.com. For more information about Valutrust, go to valutrust.com.
About WFG Lender Services
WFG Lender Services, a Williston Financial Group company, is based in Westlake Village, California, and provides premium title, closing and settlement services in all 50 states for mortgage lenders of all sizes. The company fields national processing offices in Texas and California, and delivers a wide variety of residential and commercial mortgage lender services, including title insurance, closing, escrow and more. WFG Lender Services makes use of top-end technology, industry experience and an organizational focus on customer service to deliver its products effectively, cost-efficiently and quickly. Built around the directive to “communicate, collaborate, co-exist,” WFG Lender Services is committed to applying a new philosophy to the traditional mortgage and real estate industry, taking the time and cost out of real estate transactions in order to best meet the changing needs of its clients, agents and associates. For more information, please go to wfgls.com.