Digital title and escrow solutions provider States Title has expanded key Eastern region states including New Jersey and Pennsylvania. By adding these two states to its nationwide predictive title offering, States Title is now able to service 60% of the U.S. refinance market, a 50% year-over-year increase in market reach.
“The historically low interest rates of 2020 have motivated millions of homeowners to refinance their mortgages, driving exceptionally high demand. This puts lenders under enormous pressure to provide their customers with top service levels at triple the normal volume,” said Kirk Wells, senior vice president of strategic and enterprise accounts at San Francisco-based States Title. “We experienced huge demand from our regional and national lender customers in New Jersey and Pennsylvania. Now, by bringing the power of machine intelligence to help close more loans, faster in both states, we are able to more holistically serve their needs.”
States Title uses machine intelligence and a patented technology solution to make residential closings instant and affordable. After validating its solution in high-volume states including Arizona, California and Nevada, States Title expanded along the East Coast in 2020, starting in May with Florida (the nation’s third largest refinance market), followed by Georgia and, now, New Jersey and Pennsylvania. Additional state expansion is expected in early 2021.
