HomeServices of America Inc. has entered New York state”™s title insurance market with the recent acquisition of Thoroughbred Title Services LLC, an 8-year-old subsidiary of the Houlihan Lawrence real estate brokerage. Financial terms were not disclosed.
The recent deal for the title insurance company followed last month”™s announcement that HomeServices, a Berkshire Hathaway affiliate and the nation”™s second-largest residential brokerage, had acquired Houlihan Lawrence. A family-owned business started in Bronxville in 1888, Houlihan Lawrence had grown to be one of the largest and most successful residential real estate firms in Westchester County and the northern suburban region, with $6.7 billion in closed sales in 2016.
Both Houlihan Lawrence and Thoroughbred Title Services are headquartered at 800 Westchester Ave. in Rye Brook.
Eric Swarthout, president of Thoroughbred Title Services, in the recent announcement said Thoroughbred”™s “leadership, values and goals remain the same.” The company operates in Westchester, the Hudson Valley, New York City and Long Island and, according to its website, has done title work for more than 10,000 homebuyers since its founding in 2009.
“Joining the HomeServices team accelerates our growth by plugging in to a national referral network and having access to resources to fuel our expansion in New York state,” Swarthout said.
Thoroughbred Title Services is the 33rd title agency in the HomeServices portfolio and with its acquisition, the Berkshire Hathaway company now has a licensed title insurance subsidiary in 21 states.
Jim Lamphere, vice president of HomeServices Title & Escrow, called the title agency in Rye Brook “an exceptional company with excellent brand recognition and a record of providing their customers with unsurpassed service.”
