I use First American Heritage Title Company for all my listing-side transactions. Despite all the rumors out there, they appear to be in very good shape. Here is the press release that was issued yesterday…
Denver, CO (August 6, 2008) – Fidelity National Financial, Inc. (NYSE:FNF), a leading provider of title insurance has purchased the Colorado subsidiaries of Mercury Companies, Inc., including First American Heritage Title Company. With this acquisition, the companies will keep their individual brands in the market place while enjoying the support of Fidelity who reported a net worth in 2007 in excess of 3.2 billion dollars and cash and short term investments of 569 million dollars.
First American Heritage Title Company has been in business for over 30 years and averaged about 15% market share in Colorado in the first two quarters of 2008. FAHTCO has recently struggled under the weight of the expansion efforts of Mercury Companies into other states, so are pleased to have been purchased by the largest underwriter in the nation. This acquisition provides great technological, service and security enhancements to FAHTCO customers while giving employees new and exciting opportunities.
“This is a significant market opportunity for FNF,” said FNF President Raymond R. Quirk. “With the acquisition of these Colorado operations, we have become the market share leader in the state of Colorado. We welcome … First American Heritage Title Company…and all of their employees into the FNF family and we are confident that our combined commitment to leading the title industry in customer service, technology and financial strength will lead to a successful long-term partnership that will set the standard for title insurers in the state of Colorado.”