Financial Title closed its doors this morning in California, Arizona and Texas. When I arrived at the office, news was already buzzing. Rumor has it that Financial Title notified its employees last night at midnight that the company would cease operations today at noon, and nobody had a job there anymore.
Fortunately, I changed all my escrows to Chicago Title over the past couple months, and I have no open escrows at Financial Title. Word has it that First American Title might assume its business, but that's only through the rumor mill at this point. At the least the people I used to work with at Financial Title saw the writing on the wall and split several months ago. For other agents, home buyers and sellers, this could be a trying time.