if you have the dope, drop me a line……dianecipa@gmail.com
something big is happening in title insurance…
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{ 11 comments… read them below or add one }
“if you have the dope, drop me a line”
I don’t do drugs, Diane – and if I did, I wouldn’t know how to get them to you by telephone.
Seriously now, what’s going on in the title world?
Hi, Paul: Rumor a BIG one is being taken over by a financial institution. My guess is the “eagle” but I can’t confirm. Maybe we’ll hear something tomorrow.
it has to be LandAm. they’ve had balance sheet problems for a while now and their stock price is way down today whereas the rest of the title group is up.
Diane, Always enjoy you insight, I am on the edge of my chair to hear the dope. I guess my first question is with all the maddness going on is this a good thing?
I’m going out on a limb here because I really don’t know if the rumor is true. It came from what I take as a credible source, but let me just say this. Over a year ago, when it was clear that the subprime crisis was bleeding into Alt-A and prime, I turned to members of my staff and predicted that Countrywide and First American would not survive.
So, now you know who I think the likely candidate for takeover is. Is it a good thing? Well, if the alternative is a collapse, then I think it’s a good thing.
Really, in the end, we’re all just hoping for as soft a landing as this gigantic card toss can give – with as few casualties as possible.
I guess I don’t see why sub prime, alt A, or any loan defaults would affect title insurers.
Title insurance is the parallel universe of mortgage lending. They dance in the same direction and what impacts one impacts the other with mortgage lending having the dominant relationship.
Very cool… I look forward to checking out this new site. Seems that we get caught in our little individual Web 2.0 bubbles, cocoons, or whatever to the extent that we forget that there are others out there doing some of the same things we are!
Good on ya… !
Kevin
I hope its a takeover. I think if Countrywide had collapsed it would have caused some serious problems. I dont know if it was wise of BOA to take on Countrywides nasty issues but it certainly saved the market some problems.
I do a lot of cross-border business and real estate transactions (I’m a business broker from Canada) and need a guidebook to keep up with all the changes I need to! Looks like the only constant is change.
“if you have the dope, drop me a line”
I don't do drugs, Diane – and if I did, I wouldn't know how to get them to you by telephone.
Seriously now, what's going on in the title world?