Posts Tagged ‘Mary O’Donnell’

eLynx Adds Westcor Land Title Insurance to eCN

Monday, March 28th, 2011

eLynxCINCINNATI – March 28, 2011 – eLynx, a portfolio company of American Capital (NASDAQ: ACAS), today announced that Westcor Land Title Insurance Company is the latest title underwriter to fully integrate its operations with the company’s electronic closing network (eCN) and with the option of providing their lender customers with electronic closing protection letters. Westcor now joins four of the nation’s largest title underwriters in having a direct connection and seamless integration with eCN. This integration gives lenders instant verification of authorized settlement agents and earlier notification of pending insured transactions.

“We welcome Westcor into our network with the confidence that our common lender customers will benefit,” said Sharon Matthews, eLynx president and CEO. “eLynx provides significant workflow benefits to underwriters like Westcor, making it easier for them to serve their lender customers efficiently and with the assurance of a significantly lower risk of mortgage fraud. We’re the only company actively managing settlement agent fraud, a very real risk to lenders.”

When settlement agent fraud occurs, lenders lose millions. Lenders are increasingly impacted by these crimes and are finding that these criminals have not been easily exposed in the past. eCN can identify the potential crime before the loan is closed thereby protecting both the lender and the underwriter.

“With eCN, eLynx has become the industry’s enabler of a compliance-based closing process that minimizes the risk of fraud,” said Mary O’Donnell, president and CEO of Westcor Land Title Insurance. “eCN provides our company with a neutral, streamlined connection to all of the other parties in the transaction. We believe our relationship with elynx will enable us and our policy issuing agents to provide best-in-class service to our lender customers.”

eCN has rapidly gained industry acceptance, processing more than 1 million loans in its first year. There are approximately 100,000 settlement agents registered to use the system. Currently, more than 80% of all eCN loan traffic benefits from a direct integration with an insuring title underwriter, making it significantly easier for lenders to reconcile the data and documents used in an end-to-end electronic loan process.

Westcor Adds Two Key Members to its Legal Department

Thursday, December 16th, 2010

 

Legal-TeamWinter Park, FL, December 16, 2010

Westcor Land Title Insurance Company (Westcor), today announced the addition of Roger Therien, formerly of Fidelity National, as Southwest Regional Counsel.  “Roger will provide support to our California and Arizona agents,” said Scott Chandler, vice president, Western Regional Manager. “Roger’s history of providing best-in-class service to agents is an ideal complement to our national growth.”

Also announced is the addition of Jim Kletke as ‘of Counsel’ to the corporate team.  Jim will provide underwriting assistance in Maryland, Texas, and on a national basis, support of multi-state agents.  “Jim’s vast experience in growing an agency-based underwriter around the country is an invaluable addition to the team.  Jim will also provide assistance and advice to the management team as we continue to strategically build the Westcor footprint across the country,” said Mary O’Donnell, president and CEO.

“We welcome our new team members and believe these key hires will further enhance our mission to provide unparalleled agency support.”


Westcor Land Title’s National Growth Continues in New Jersey

Wednesday, August 18th, 2010

1295441_36033016Winter Park, FL – August 17, 2010 Westcor Land Title Insurance Company (Westcor) announces the opening of new agency operations in Red Bank, New Jersey. The latest opening adds to their national plan of organic expansion from coast-to-coast. The new office represents the fourth market expansion in twelve months and is evidence of the title agents preference for an alternative agent-centric partner.

Susan Wenzel, formerly with First American will lead the team as the state agency manager. Susan comes to Westcor with over thirty years of experience. Accompanying her is Scott Sumner, formerly with Chicago Title who will serve as state counsel. Joining the team from Fidelity National is Chris Marra as the New Jersey operations manager and Susan Ney as the office administrator. All with many years of title industry experience.

“Westcor is known for their consistent best-in-class service and agent support. This is a refreshing welcome to independent agents in New Jersey,” explains Susan Wenzel. “We look forward to introducing the standard-of-excellence and reliability associated with the Westcor name to title agents and the customers we serve. “In times of uncertainty, consistent quality and support instills confidence and provides security; Westcor understands the meaning of a true partnership.”

Westcor’s steady cycle of national growth and new hires are matched with financial strength. Westcor’s consistent quality balanced with financial stability is why Westcor Land Title Insurance Co. is recognized as the fastest growing title insurance company in the United States.

“Our ability to reach new markets and grow our company is indicative of the quality of Westcor’s selected title agents and new hires,” states Mary O’Donnell, president and chief executive officer of Westcor Land Title Insurance Co. “Our people are extensions of the standard of excellence associated with the Westcor name.”

Westcor Announces New England Agency Operations

Tuesday, July 20th, 2010

New England AnnouncementWinter Park, FL—July 20, 2010

Westcor Land Title Insurance Company (Westcor) announced today an expansion of its footprint into the New England market.

Chris Strynar, a longtime veteran of the title industry in the Northeast, will lead the team as the regional manager. Harold Clarke will serve as senior underwriter for New England. The remaining members of the team are spread throughout Massachusetts, Rhode Island, and Connecticut providing consistent high quality service to independent title agents.

“We are pleased to expand our services and operations to the New England territory,” stated Mary O’Donnell, president and chief executive officer of Westcor Land Title Insurance Company. “As the Westcor family continues to grow nationwide, our commitment to the service we provide our agents remains unchanged.”

The Northeast expansion continues to validate the Westcor business model providing a reliable, national, independent underwriter offering best-in-class service to quality title agents. “We are excited to move forward and further assist our agents in growing their business,” explained Strynar. “Westcor’s commitment to independent title agents combined with a hands-on approach affirms the business philosophy of the New England team. The enhanced capabilities will offer our independent title agents a proactive platform to increase their market share in the Northeast.”

Westcor Land Title Insurance Company is licensed in 27 states with license applications pending in all remaining states.

 

 

Westcor Land Title Insurance Company Reports 2009 Financials

Thursday, April 1st, 2010

FinancialsWinter Park, FL—March 31, 2010—Westcor Land Title Insurance Company (Westcor), a leading independent underwriter, reports $90.7 million in premiums written in 2009 compared to $45.6 million in 2008.  This is a clear indication of the strength and perseverance of Westcor’s independent agents.

Westcor’s 2009 year-end financial results report a net income of $2.3 million and an increase in market share in every state underwritten.  “In these challenging times, we are proud to report positive and profitable financial results,” explains Mary O’Donnell, President/CEO of Westcor Land Title Insurance Company.  “Our success is a direct result of our independent agents’ ability to consistently compete regardless of market conditions.  It is this quality that identifies and differentiates our agents.”

Licensed in 23 states with 10 new licenses pending, Westcor maintains six regional offices nationwide and is the fastest growing title insurance company in the United States. Westcor’s aggressive selective growth is balanced by their quality agent selection criteria.

About Westcor Land Title Insurance Company

Westcor Land Title Insurance Company is a leading independent provider of title insurance. As one of the largest independent underwriters, Westcor is dedicated to the support and development of quality independent title agencies. Westcor will not compete against its agents. We are committed to promote stability, growth and continued autonomy of independent title agencies.  Our success is defined by our agents’ success. Westcor is rated A’ (Prime) Unsurpassed by Demotech, the highest rating available for regional underwriters.  To learn more about Westcor and how you can join the independent movement, visit www.wltic.com, or call 866–629–5842.

 

Westcor Land Title Insurance Co Reports Growth and Profit in 2009

Tuesday, February 9th, 2010

profitsupWinter Park, FL—February 9, 2010—Westcor Land Title Insurance Company (Westcor), a leading independent underwriter, reports an increase in gross premiums for the third quarter of 2009. According to third quarter results released by the American Land Title Association (ALTA), Westcor increased 83% in gross premiums compared to the same period of 2008. Westcor attributes the significant growth to the expansion of its independent agency base.

In 2009, Westcor expanded its agency base in the West and North East while continuing expansion in its Florida Title Insurance operations “ Our geographic expansion contributed to our significant growth together with the loyalty and dedication of our existing agency base. We attribute our success to the quality and integrity of our independent agents throughout the country. It is their dedication, commitment to excellence in service and strength to persevere during difficult times that is the reason for our success” explains Mary O’Donnell, President of Westcor.

Third quarter financial reports also confirm Westcor’s strong financial position thereby maintaining strong ratings from Demotech and Lace.

Now licensed in 23 states, with six regional offices nationwide, Westcor is optimistic about the future. “ We recognize that the market has changed and understand it represents new opportunity for innovation and improvement, states Mary O’Donnell. We look forward to meeting future challenges and remain committed to the growth and vitality of the independent agent.” To view Westcor’s current State Licensing Map, please visit http://wltic.com/state-license-map-of- westcor.

About Westcor Land Title Insurance Company
Westcor Land Title Insurance Company is a leading independent provider of title insurance. As one of the largest independent underwriters, Westcor is dedicated to the support and development of quality independent title agencies. Westcor will not compete against its agents. We are committed to promote stability, growth and continued autonomy of independent title agencies. Our success is defined by our agents’ success. Westcor is rated A’ (Prime) Unsurpassed by Demotech, the highest rating available for regional underwriters. To learn more about Westcor and how you can join the independent movement, visit http://www.wltic.com, or call 866–629–5842.

Westcor Land Title Insurance Ratings Reflect Positive Outlook

Thursday, December 17th, 2009

demotechWinter Park, FL, November 4, 2009—Westcor Land Title Insurance Company, a leading independent underwriter, continues to maintain a Financial Stability Rating® (FSR) of A′ (A Prime), Unsurpassed, from Demotech, Inc., an actuarial consulting and financial analysis firm located in
Columbus, OH. “Westcor’s ability to maintain a strong, conservative balance sheet despite the challenging operating environment reflects their financial stability and commitment to solvency,” explains Barry Koestler, Chief Ratings Officer of Demotech.

Additionally, Westcor has been upgraded by LACE Financial Corp. LACE is one of a list of ten credit rating agencies approved by the Securities and Exchange Commission (SEC) to determine financial soundness and creditworthiness. The recent upgrade is a clear indication of Westcor’s
financial stability and strength.

Westcor’s improvements are positive statements of a strong financial position. This optimistic affirmation is impressive especially during fluctuating market conditions. The new standing provides Westcor with greater financial leverage and financial flexibility to continue their forward
growth cycle.

A balance of competitive positioning, quality leadership and selective national growth has served Westcor well in 2009. While many other title underwriters weather loss and downgrades, Westcor’s business sustains and improves. “We thank our agents for their ongoing commitment
to quality and service, explains, Mary O’Donnell, CEO and President of Westcor Land Title Insurance Company. It is their commitment to perform with a consistent standard of excellence that reflects this positive result.”

About Westcor Land Title Insurance Company Westcor Land Title Insurance Company is a leading independent provider of title insurance. As one of the largest independent underwriters, Westcor is dedicated to the support and development of quality independent title agencies. Westcor will not compete against its agents.

We are committed to promote stability, growth and continued autonomy of independent title agencies. Our success is defined by our agents’ success.
Westcor has a Financial Stability Rating® (FSR) of A′ (A Prime), Unsurpassed, from Demotech, Inc. To learn more about Westcor and how you can join the independent movement, visit www.wltic.com, or call 866–629–5842.

Westcor Announces New Mountain States Regional Office Providing services to Idaho, Utah, Montana and Wyoming

Thursday, December 17th, 2009

BoiseWinter Park, FL—August 18, 2009 Westcor Land Title Insurance Company, the nation’s leading independent underwriter, has announced its Mountain States Regional Agency (MRSA) office is now open for business in Boise, Idaho, to support independent title agencies in Utah, Idaho, Montana and Wyoming. The office offers a full menu of underwriting services to independent agents that can be customized to meet and support individual agency needs.

Formerly with a major underwriter, and natives of Boise, Idaho, Michael J. Koloski is leading the new Mountain Agency office as Vice President along with Robert E. Rice as Regional Counsel.

Mr. Koloski is a well-respected industry veteran who has served the title industry for over thirty years. Mr. Koloski and Mr. Rice have worked together successfully for several years serving title agents in the mountain states region.

“We welcome the wealth of knowledge, experience and support associated with Mike and Bob,” said Mary O’Donnell, Westcor’s President and Chief Executive Officer. “Recognized for their excellence as service performers, their contribution will be a tremendous asset to the title agents in the region they serve.”

“They will be a great addition to our Western servicing platform, says Scott Chandler, Western Agency Regional Manager. “The additional office provides Westcor with the support and service structure to the western states that far exceeds their competition.” The new opening is another demonstration of Westcor’s commitment to serving the independent agent in the western region.

Westcor is a full-service underwriter that prides itself on independence. Its foundation is built to engage independent agencies looking for an alternative to the industry’s established underwriters. Westcor’s purpose is to provide support solutions that promote stability, growth and continued independence. The new office offers independent agencies traditional underwriting services with a customized approach. Every agent is treated on an individual basis with support for their business practices that affords convenience and functionality required for their businesses to thrive.

About Westcor Land Title Insurance Company
Westcor Land Title Insurance Company is a leading independent provider of title insurance. As one of the largest independent underwriters, Westcor is dedicated to the support and development of quality independent title agencies. Westcor will not compete against its agents.

We are committed to promote stability, growth and continued autonomy of independent title agencies. Our success is defined by our agents’ success.