{"id":6864,"date":"2014-09-04T12:26:37","date_gmt":"2014-09-04T12:26:37","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=6864"},"modified":"2014-09-04T12:26:37","modified_gmt":"2014-09-04T12:26:37","slug":"sluggish-housing-market-blamed-drop-title-insurance-volume","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/sluggish-housing-market-blamed-drop-title-insurance-volume\/","title":{"rendered":"Sluggish Housing Market Blamed for Drop in Title Insurance Volume"},"content":{"rendered":"

Sluggish Housing Market Blamed for Drop in Title Insurance Volume<\/h2>\n
\"Sluggish<\/a>

Sluggish Housing Market Blamed for Drop in Title Insurance Volume. Image courtesy of Stuart Miles \/ FreeDigitalPhotos.net<\/p><\/div>\n

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Title insurance premium volume has fallen 16.6 percent during the second quarter of this year compared to last year, according to the American Land Title Association.<\/p>\n

\u201cA lackluster spring home buying season that was weaker than anticipated, coupled with a substantial decline in refinance activity, resulted in the drop in title insurance premium volume,\u201d says Michelle Korsmo, ALTA\u2019s CEO. \u201cDespite the lull in the housing market, the title insurance industry remains in a strong financial position posting more than $90 million in net income this quarter. \u2026 For more than a century, title insurance companies have protected the interests of home buyers through a process that has given Americans a sense of security in what is almost always their most significant investment \u2013 their homes.\u201d<\/p>\n

During the second quarter of 2014, the title insurance industry generated $2.7 billion in title insurance premiums, compared with $3.3 billion during the second quarter of 2013, according to ALTA.<\/p>\n

The title insurance companies that have the largest market share in the industry are Fidelity Family (34%); First American Family (27%), and Old Republic Family (14%).<\/p>\n

Meanwhile, the following states generated the most title insurance premiums in the second quarter of 2014:<\/p>\n