First American Financial Corp.
has acquired Title Security Agency LLC, a title and escrow services company focused on the Arizona market. The financial terms of the transaction were not disclosed.
First American had been a minority owner of the company for five years. Founded in 1972, Title Security Agency serves both the residential and commercial markets and has 17 offices in Arizona. It will now become part of the direct operations of First American Title Insurance Company and its executive team–President Vivian Boggie, Chief Operating Officer Bruce Jacobs and Senior Vice President Mary Ann Christensen–will remain with the company.
“Title Security Agency, LLC is a welcome addition to the First American family. Both companies emphasize a commitment to delivering superior service and innovation,” said Chris Leavell, chief operating officer at First American Title. “The addition of Title Security Agency, LLC expands our abilities to serve customers in Arizona and enhances our expertise in the Arizona market.”
Just last month, First American Title announced that in less than a year, more than $1 billion of real estate transactions have successfully funded and closed
using FlexClose, a warehouse financing and closing service from FirstFunding, a wholly-owned subsidiary of First American Financial Corporation.