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Benefitting from the still-hot refinance market, title insurers wrote nearly 45% more premiums in the first quarter this year compared with one year prior, the American Land Title Association reported.
Mortgage originations topped $1 trillion in the first quarter Fannie Mae
estimates $1.27 trillion while the Mortgage Bankers Association pegs the figure
at $1.1 trillion. Both agree that refinancings made up 71% of that total.
That led to $5.68 billion of title insurance premiums written during the period, down from approximately $6 billion in
one year ago. FFourth quarter 2020 originations were $1.34 trillion according to Fannie Mae, or $1.26 trillion by the MBA s estimates, while the first quarter last year was at $752 billion and $563 billion respectively.)