The CRER is in addition to the assigned Financial Stability Rating® (FSR) of A’ (A Prime), Unsurpassed
Portland, Ore., February 02, 2023 – WFG National Title Insurance Company (WFG), a full-service provider of title insurance and real estate settlement services for commercial and residential transactions nationwide, announced today that it has been assigned a Commercial Real Estate Recommendation (CRER) of Highly Recommended from Demotech, Inc. In December of 2022, Demotech also affirmed the FSR of A’ (A Prime), Unsurpassed, assigned to WFG NTIC.
A leading indicator of the financial stability of a title underwriter, FSRs summarize Demotech’s opinion of the financial stability of an insurer regardless of general economic conditions or the phase of the underwriting cycle. According to Demotech, insurers earning an FSR of A’ (A Prime) possess unsurpassed financial stability related to maintaining surplus as regards policyholders at an acceptable level, regardless of the severity of a general economic downturn or deterioration in the insurance cycle.
Demotech President and co-founder Joseph Petrelli said, “In 1992, two years prior to Fannie Mae instituting its rating requirement for title underwriters, Demotech became the first to promulgate industrywide title underwriter ratings. Similarly, we were the first to develop Commercial Real Estate Recommendations associated with transactions that did not qualify as residential. We are pleased that a company of WFG’s substance has secured a Commercial Real Estate Recommendation.”
“WFG has participated in Demotech’s Financial Stability Rating® process since the company’s inception and we are thrilled to expand this recognition to include a Highly Recommended CRER for our commercial title operations,” said Steve Ozonian, WFG’s President and CEO. “Given the current turbulent state of the real estate market, this designation is particularly meaningful to both our residential and commercial title clients and us.”
In addition to its external validation of financial stability, WFG National Title Insurance Company has 158 months of claim reserve coverage and is free of institutional debt.
WFG National Commercial Title Services Executive Vice President David Sallean said, “We are extremely honored to receive Demotech’s Commercial Real Estate Recommendation, as it validates our ability to support this important market within our industry.”
WFG’s National Commercial Title Services division is committed to providing superior customer service to its commercial clients. Comprised of industry-leading professionals who are knowledgeable, responsive, and take a client-focused approach to understanding specific transactional needs, the division’s leadership team has decades of experience handling the complexities of commercial real estate transactions nationwide and dealing with sometimes unforeseen challenges. Recognizing that every commercial transaction is unique, the team devotes individualized care and attention to each transaction in order to alleviate inherent risk, facilitate a smooth closing and ensure that all material terms of the contract are fulfilled.
For more information regarding WFG’s National Commercial Title Services division visit https://wfgtitle.com/. To contact David Sallean directly, call 281-782-4958 or email DSallean@willistonfinancial.com.
About Williston Financial Group
Williston Financial Group is the Portland, Oregon-based parent company of several national title insurance and settlement services providers, including WFG Lender Services and WFG National Title Insurance Company. It is one of the fastest growing national title insurance and settlement services providers in the mortgage and real estate services industry.
About Demotech, Inc.
Demotech, Inc. is a financial analysis firm specializing in evaluating the financial stability of regional and specialty insurers. Since 1985, Demotech has served the insurance industry by assigning accurate, reliable, and proven Financial Stability Ratings® (FSRs) for Property & Casualty insurers and Title underwriters. Demotech’s philosophy is to review and evaluate insurers based on their area of focus and execution of their business model rather than solely on financial size. Demotech was the first to review and rate independent regional and specialty insurers. Demotech’s consistently increasing list of accreditations and acceptances has resulted in rating and reviewing more than 450 insurers operating in the US. As of 7/11/2022, Demotech, Inc. is registered with the U.S. Securities and Exchange Commission (SEC) as a nationally recognized statistical rating organization (NRSRO) in the class of ratings for insurance companies. Commercial Real Estate Recommendations from Demotech, Inc. are not NRSRO ratings. Visit www.demotech.com for additional information.
MEDIA CONTACT:
Darcy Patch
VP Marketing, Enterprise Solutions
dpatch@myhome.com
714-305-0136
