Who could have imagined that 2020 would become a record year for the industry? In January, the economy was humming along and interest rates were low. We prepared for and were optimistic that 2020 would be a “good” year. Then a virus arrived on our shores. And what looked like an isolated incident became a global pandemic. Reports of the spreading COVID-19 virus and the initial shutdown of many parts of our economy had a devastating effect on our entire country. However, because our industry was designated an essential business, title companies continued to service the mortgage and real estate markets. And the markets responded with record orders and record closings. I am confident you and your team were able to balance the demands of the market with the safety of your employees – and that you processed these record levels of business successfully. We certainly saw the impact of your hard work and late nights. Thank you for writing on First National Title.
As DJ Horn mentions in the above video, we believe we are the right underwriter for the independent agent, and we want to take our philosophy nationally. We support the independent agent’s efforts to capture a larger share of the real estate market. We want you to have the opportunity to close more than two out of every 10 orders. We want to work together to reduce the market dominance of the Big Four from 80% to 75% or 70%. Wouldn’t you like to compete for every three out of 10 orders vs. every two? That is a significant goal. And with that mission in mind, First National Title Insurance Company (FNTI) is expanding our footprint.
We are currently operational in nine states and are adding license applications in 40 more. In 2020, we added Utah, South Carolina, North Carolina, Maryland, Washington D.C., Virginia, Pennsylvania and Montana to our territory. This incredible growth is fueled by an ever-expanding agent network supported by the best team of underwriting counsels, agency staff, and support staff in the industry. Ultimately though, this growth is driven by your decision to represent our company and write our policies. To rephrase our motto—thank you for getting to know us, trust us, and like us.
With your support, we achieved the following in 2020:
Our revenues have grown over the past nine years to rank us as the 10th largest underwriter in the country. That success (and I say it every year), is due to the support and trust you place in our team. We know you have a choice where you send your underwriting premiums and appreciate your decision to use FNTI. We will continue to work diligently to earn your business and your loyalty—every day. Thank you.