United Title owned by Colorado parent company, Mercury Companies Inc. are in trouble again. This time it will mean closing of some Texas offices after a big batch of California closings a few months back.

If we remember back in May, Mercury Companies closed title offices in California under the name Alliance Title putting 2,000 employees out of work. There are reports out another Mercury Companies California title company closed it’s doors today called Financial Title.

Here in Colorado they operate under the names Heritage Title, Security Title, Title America and United Title. I have yet to hear of any closings in Colorado…but stay tuned.

United Title Texas Closings

The Triangle Business Journal reports on United Title of Texas,

“All told, the Austin-based firm had 27 offices throughout the state, according to the company’s Web Site.”

And..

“For the fiscal year ended Dec. 31, 2007, the privately held Mercury Cos. posted sales of approximately $1 billion.”

United Title Parent Company Legal Woes

Mercury has had some legal matters in the past as well. A suit against underwriter First American who took over the California office responsibilities when they closed and it is assumed the same will happen with the United Title Texas office closings.

It also appears they were accused of using unfair business practices in the recruitment of employees.

Title companies rely on the continued closing of real estate and refinance transactions. Without new business, they dry up and blow away. To survive the lean years, a title company must have a very lean operation and the trust of those still in business.

Who knows what will befall United Title in Colorado or the other title subsidiaries of Mercury Companies, but for them as all title companies only the strong will survive.

Good Luck!

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