New York-Based Title Company Closes
April 12, 2011
A New York-based title company that provided title insurance, appraisal, and settlement services for residential and commercial customers is no longer in business.
According to several reports, Titleserv, which was founded in 1986 and employed more than 160, reportedly closed its doors Friday (April 8).
James Conway III, founder and CEO issued this statement: "Titleserv and its professionals are working with Titleserv's lenders, title companies and creditors to provide for the flow of information in an effort to minimize disruption."
Attempts to reach company officials were unsuccessful.
According to its website, Titleserv operated in 47 states and in select international markets.
In November, the company reported sales increased more than 40 percent from the second to third quarters of 2010. In the same statement, Titleserv claimed sales in the third-quarter of 2010 increased 34 percent compared to the same period in 2009.