From Housing Wire:
Title insurance is a tough business these days — not only are more claims rolling in, but the amount paid per claim is also on the rise. And if that weren’t rough enough, far fewer new policies are rolling in the front door too, making for a trifecta of lost revenue for most of the industry’s behemoths in the space.
Fitch Ratings earlier this week took the axe to ratings of two title insurers, too, while warning that it would likely cut the ratings of another soon.
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