MOUNT LAUREL, N.J., Jan. 6 /PRNewswire/ -- Cendant Settlement Services Group (CSSG), a subsidiary of Cendant Corporation , today announced that it has completed its purchase of American Title Company of Houston, Texas American Title Company, Title Resources Guaranty Company and their related title companies based in Texas. The terms of the transaction were not disclosed, and it is not expected to have a material impact on the financial results of either Cendant or its Real Estate Services Division.
These acquisitions establish CSSG's entrance into the Texas market with a direct title operation and an in-state footprint highlighted by a large presence in Houston and Austin. Texas American Title Company is the largest independent title agency in Texas. Today's announcement also marks CSSG's initial venture as sole owner and operator of a title insurance underwriting business, Dallas-based Title Resources Guaranty Company.
CSSG originally announced the purchase agreement on Nov. 2, 2005.
About Cendant Settlement Services Group
Cendant Settlement Services Group, a subsidiary of Cendant Corporation and part of the Company's Real Estate Services Division, is a full- service title, settlement, underwriting and vendor management services company serving real estate companies, affinity groups, corporations and financial institutions in support of residential and commercial real estate transactions. Headquartered in Mount Laurel, N.J., Cendant Settlement Services Group is a national company with 3,000 employees.
