Titleserv Agency in 47 States Closes Doors

The website is up and they are still answering phones, but there seems to be much confusion at  Titleserv.  When asked if they were still operating in states other than their New York headquarters,  the response was “No, the corporate headquarters is closed and as of Friday, we are no longer a title company.”  The website is extensive, advertising REO, closings, residential and commercial title insurance, and various other title products.  The web is abuzz with questions, but as of now, there are no answers.

According to the Wall Street Journal

By Dawn Wotapka

Titleserv, one of the nation’s largest title-insurance agencies, closed its doors Friday, according to employees.“We are considered officially  closed,” said a woman answering the company’s main telephone line and identifying herself as an employee. She would not comment further.Another woman answering the sales line also said the company was closed. She offered no details and it is unclear what, if any, operations are being settled. Company representatives for Long Island-based Titleserv couldn’t be reached for comment. Brian Tormey, executive vice president with competitor TitleVest, said his company is receiving requests to fill Titleserv’s title order and lien-search transactions, which caused employees to work through the weekend. Titleserv was founded in 1986 and operates in 47 states, according to its website.

2 Responses to Titleserv Agency in 47 States Closes Doors

  • title guy says:

    More on Titleserv at Long Island Business News. Chase and Citibank instructed mortgage managers last week not to put any further title business through Titleserv, according to the Title Report publication. Since Chase and Citibank accounted for a good chunk of the company’s business, sources said the action was crippling to Titleserv, which advertised itself as a one stop shop for title insurance and legal assistance in closing home sales. Titleserv at last count reportedly had 176 employees.

  • title guy says:

    The FBI raided Titleserv in Woodbury, NY Wednesday morning, a little more than two weeks after the national title insurance agent closed suddenly.

    FBI spokesman Jim Margolin said agents went with a search warrant as part of an “ongoing investigation.” The search started at 8 a.m. and continued into the early afternoon, ending with agents leaving with boxes of records, he said.

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