California-based Real Estate Firm Acquires 50 Percent of OnTitle

May 31, 2018

California-based real estate company Home Bay has purchased a 50 percent interest in OTC National LLC (OnTitle), a settlement services company with escrow and title insurance licenses in 31 states.

For real estate listings, Home Bay generally charges $2,000 to $3,500 to facilitate a sale rather than a 3 percent commission. On the buy-side, Home Bay rebates back half of the commission to the buyer. The company offers real estate services for a flat fee in Florida, Georgia, Illinois, Texas, Colorado and California.

With the new acquisition, OnTitle will provide resources to the Home Bay family of companies. From within its platform, Home Bay will integrate escrow services and issue title insurance policies. Based in Pennsylvania, OnTitle’s centralized processing center is in Orange County, Calif.

"Our investment in OnTitle gives our consumers a streamlined process and optimum experience," said Ken Potashner, chairman and CEO of Home Bay. "We're now the one-stop-technology-shop for brokerage, title and escrow. Home Bay is quickly working its way into the full value chain to capture all affiliated services associated with a real estate transaction."

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