American Land Title Association Reports Q2 Title
September 02, 2010 09:49 AM Eastern Daylight Time
WASHINGTON--(EON: Enhanced Online News)--The American Land Title Association (ALTA) reported title
insurance premiums written during the second quarter of 2010 decreased 8.5 percent when compared to the same
period a year ago.
According to ALTA’s preliminary Market Share Analysis, the title insurance industry generated $2.3 billion in title
insurance premiums during the second quarter of 2010, down from $2.5 billion during the same period last year. For
the first half of 2010, the industry reported $4.4 billion in title insurance premiums, down 2.9 percent when
compared to the first half of 2009.
“The latest market share analysis reflects an on-going recession in the housing market, with further downward
pressure on home prices,” said Kurt Pfotenhauer, chief executive officer of ALTA. “With mortgage rates at record
lows, we noticed a shift in more refinance transactions toward the latter part of the quarter. While an abundance of
affordable homes and low interest rates make the market attractive, people need jobs to obtain credit and purchase
The states generating the most title insurance premiums during the second quarter of 2010 were California ($350.7
million, down 13.6 percent compared to second-quarter 2009), Texas ($266.1 million, up 0.1 percent), Florida
($169.9 million, down 2.2 percent), New York ($150.8 million, up 2.4 percent) and Pennsylvania ($97.1 million,
down 19.2 percent). Only five states and the District of Columbia reported increases in title insurance premiums
written when compared to second-quarter 2009.
“The varying results demonstrate real estate is a local business and each market performs differently depending on
local economic conditions,” Pfotenhauer said. “Title companies in each market will continue to produce policies that
provide assurance to homeowner they have clear ownership to their property and that they will be insure