Despite a general decrease in interest rates, Old Republic, a leading title insurance firm, experienced a significant decline in net premiums and fees for their title insurance segment in the fourth quarter of 2023, resulting in a substantial decrease for the entire year. The company’s title segment faced challenges during the last three months of the year, leading to a 22.8% decline in annualized net premiums and fees. This contributed heavily to the overall 12.8% decrease in net premiums and fees for the entire year.
Key Points:
– Big Four title firm Old Republic witnessed a 22.8% annualized decline in net premiums and fees in their title insurance segment during Q4 2023.
– This decline played a major role in the company’s 12.8% decrease in net premiums and fees for the full year.
– Despite lower interest rates, the title segment faced difficulties, resulting in significant challenges for the company.
You can read this full article at: https://www.housingwire.com/articles/old-republic-records-12-8-decline-in-net-income-in-2023/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.
