PLANO, Texas – First National Title Insurance Company (FNTI) reported revenues for the company’s second full year of operations of $36.51 million, representing a year-over-year increase of 37.5 percent. The non-affiliated portion of FNTI’s revenue grew from 25.5 percent in 2013 to 33.4 percent in 2014.
“Our goal for non-affiliated revenue to exceed 50 percent of our total revenues was hampered by the fact that the affiliated portion of the business grew at almost the same rate as the independent agent revenue, which is not really a problem,” stated CEO Chris Phillips. “Also contributing to our positive results in 2014 were active real estate markets in Texas and Arizona and increasing our agent network by 65 percent. The value of an agent-focused underwriter continues to be a driving force in our growth.”
“The mobile app we introduced last year is quickly becoming a “must have” in the real estate community. In Texas and Arizona, our agents and their clients give rave reviews to First National’s ‘FIRST App,’ a real estate title mobile app for iPhones, iPads and Androids,” said Phillips.
The FNTI Team credits education and training as the key factors to successfully addressing the changes coming in 2015. Their online library of over 50 industry-related courses is a valuable tool for our agents and is easily accessible from the company website. FNTI also has underwriting staff and a quality assurance audit team available to answer CFPB compliance and ALTA Best Practices inquiries. “While we prepare for upcoming changes, our team has not lost sight of the current business,” says Phillips. “We know the independent agents face challenges from the national underwriters and we have developed the tools necessary for them to compete.”