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Passport Title Grows Footprint, Expands Innovative Partnership Model to Pennsylvania as Passport Settlement Services, LLC
Release date: February 16, 2016
ROCKVILLE, Md. – Passport Title Services, LLC announced its expansion to Pennsylvania as Passport Settlement Services, LLC to provide its innovative partnership model to title agents and attorneys in the state. Passport Settlement Services, LLC offers a valuable alternative to title agents in Pennsylvania who may be seeking strategic options for growth.
“Passport Title is fast-growing in Maryland, Virginia and Washington, DC, and Pennsylvania is a natural fit with our current footprint as we expand our partnership model to more title agents who want a solution to the growing costs and complexities of doing business in today’s environment,” said John R. H. Cotter, president and chief executive officer. “Through a partnership model, Passport Title provides settlement processing, support operations, agency and compliance functions to title agents, helping them achieve greater business success as part of a larger entity than they would alone.”
Passport Title achieved record growth in 2015. Commercial and residential settlement volume increased 42%, and the number of title agents who chose to join Passport Title increased 22%.
“Passport Settlement Services, LLC brings Pennsylvania title agents a fully Best Practices-compliant choice that frees them from the resource-intensive process of implementing their own Best Practices program,” Cotter said. “We help title agents protect their ability to do business with the growing number of lenders who require Best Practices compliance.”
About Passport Title Services, LLC
Passport Title Services, LLC (doing business as Passport Settlement Services, LLC in Pennsylvania) is a fully Best Practices-compliant title insurance agency and real estate settlement company and a leading provider of title agent partnerships since 2008. Passport Title Services, LLC provides commercial and residential settlements in Maryland, Virginia and Washington, DC; and Passport Settlement Services, LLC provides commercial and residential settlements in Pennsylvania. The Company supports residential settlements nationally through an administrative services agreement. Originally established in 2005, Passport Title is privately held and independent.