January 20, 2018
OneTitle joins forces with Sovereign Title
NEW YORK – OneTitle National Guaranty Company, Inc. and Sovereign Title Agency, LLC, announced a strategic partnership that will provide a very high level of customer service and underwriting expertise to residential and commercial title insurance customers in New York and New Jersey. This unique partnership brings together deeply respected names in title insurance from each state. The companies will now jointly serve clients throughout the New York/New Jersey region, providing expanded coverage and seamless service.
What is title insurance? It’s a form of protection to turn to when someone questions your right to own a piece of property. Title insurance doesn’t kick in often, but it comes into play when a deed is transfered from one party to another such as in a sale or foreclosure. It also comes into play when loans and other liens against a property are established.
Through its new affiliate, Sovereign Title, OneTitle is now able to offer title insurance policies for residential and commercial properties in New Jersey. Sovereign Title clients will now be able to work with OneTitle for New York transactions. The partnership will also expand the underwriting and operations expertise and capacity of both companies. The out-of-state expansion is a first for both companies.
“OneTitle has long planned to extend our services to the New Jersey real estate market, but first we needed to find the right partner,” said Daniel C. Price, co-founder and chief executive officer of OneTitle. “Sovereign Title and its CEO Paul Mascera perfectly complement OneTitle. Both of our companies are wholly dedicated to serving as trusted and valued partners to our customers. We are thrilled to welcome Paul and his team to the OneTitle family and excited that Paul will continue his leadership in the New Jersey market.”
“Sovereign Title has been growing as greater numbers of commercial and residential real estate buyers, lenders and attorneys show a more sophisticated understanding of title insurance,” said Paul Mascera, president and chief executive officer of Sovereign Title. “By joining forces with OneTitle, we will be able to serve our clients in both New York and New Jersey. We know that we will be able to build on our outstanding service by joining forces with a company like OneTitle that has truly distinguished itself in this space.”
OneTitle, the only 100-percent direct title insurer in the country, breaks with the industry practice of companies working together to set rates. Instead, investors, developers, homebuyers — as well as their attorneys and lenders — can buy title insurance directly, resulting in up to 25-percent lower premiums. In February 2017, OneTitle further established itself with the announcement that the company received approval from the New York State Department of Financial Services to lower title insurance rates for real estate transactions of $15 million or more, including purchases, loans and refinances.
About OneTitle National Guaranty Company, Inc.
OneTitle National Guaranty Company, Inc. is a direct title insurance underwriter, licensed by the New York State Department of Financial Services. OneTitle policies above $250,000 are directly backed by risk attaching, reinsurance coverage issued by a $1.5 billion global reinsurer rated A-(excellent) by A.M. Best. For more information, visit www.onetitle.com.
About Sovereign Title Agency, LLC
Sovereign Title Agency, LLC, a member of the OneTitle family, is a deeply experienced title agency serving the State of New Jersey through two major national underwriters and New York State through its affiliation with OneTitle. Sovereign provides full-service title insurance coverage and settlement services for all types of real estate transactions. From large, complex commercial transactions to smaller residential purchases and refinances, Sovereign has established a strong reputation for timely, accurate work. For more information, visit www.sovtitle.com.