Fathom Holdings to Enter Title Market
November 12, 2020
Fathom Holdings Inc. is expanding into the title insurance market after announcing it has signed a definitive agreement to acquire North Carolina-based Verus Title Inc.
The deal is expected to be completed during the fourth quarter of 2020. Verus Title will operate as a wholly owned subsidiary of Fathom Holdings under its present management team, led by its founder and CEO Paul Yurashevic.
"Verus Title's mission has always been to enhance the process of completing a home purchase by enabling agents, as well as lenders, to serve clients in new, more highly efficient ways through the use of technology," Yurashevich said. "We believe that being part of Fathom Holdings will enable us to rapidly grow our revenue and expand market penetration, as we bring greater value to agents, as well as to homebuyers and sellers. Fathom's operational philosophy is very similar to ours, with a laser focus on technology and streamlining operations, while serving the client, Realtors and lenders.”
Fathom is a holding company that primarily operates through its wholly owned subsidiary, Fathom Realty LLC, a national, cloud-based residential real estate brokerage. Verus Title is a technology-based provider of title insurance services. The company currently operates in 19 states, utilizing a virtual model with minimal offices. The company underwrites with WFG, Fidelity and Stewart.
"Adding Verus Title to Fathom Holdings should give our agents yet another competitive advantage that enables them serve consumers with additional, cost effective services, while increasing revenue per transaction," said Joshua Harley, Fathom's chief executive officer. "Verus will serve as our branded title and settlement solution, bringing greater value to all of our stakeholders. The transaction represents a perfect example of the kind of vertical integration that should allow us to continue our growth trajectory."
Contact ALTA at 202-296-3671 or communications@alta.org.