REIData Inc. Reorganizes to Better Deploy Stewart’s Real Estate and Title Information Services in the National Market
HOUSTON– Sept. 14, 2006–REIData Inc. has created new title plant services and PropertyInfo.com divisions, added an affiliate company and realigned a number of key functions.
REIData is a wholly owned subsidiary of Stewart Information Services Corp. (NYSE:STC).
“These organizational realignments will help us better focus on the completion of our PropertyInfo.com national real estate portal as well as the deployment of our automated title search products to Stewart Title offices across the country,” said Hank Rush, president and chief executive officer, REIData. “We see this move as pivotal for continuing to grow our business with title professionals and with residential and commercial real estate professionals.”
The title plant services division, currently a business unit based in San Antonio, Texas, with a satellite office in Chicago, focuses on regional title plant operations. Kevin Beach, a 28-year title industry veteran who came to REIData in September 2005, has been named division president, reporting to Rush.
The new PropertyInfo.com division will handle all business activities for the www.propertyinfo.com real estate information portal. New division president Cathy Bell has been with the Stewart organization for 15 years, much of that time as the face of real estate information for the realty services market segment in Texas. She most recently served as vice president of REIData market management. Reporting to Bell will be the managers for sales and customer relationship management, customer service and a new operations unit. In addition, a new operations unit will handle product development, data management, and other operational activities.
A new technology team reporting to Rush will be headed by vice president, Matthew Childress, and will handle development and level 2 support of PropertyInfo.com national Web portal and all REIData applications products.
Previously announced is the addition of Stewart Re-Source Inc. as a new subsidiary, with its president, Kas Ebrahim, reporting to Rush. In addition, Information Services of Illinois LLC, a 50/50 joint venture between REIData and the Multiple Listing Service of Northern Illinois, will remain under the REIData umbrella.
New title product deployment team
The roll-out of automated title products nationwide will be handled by the new title product deployment team headed by Tom Abbate, senior vice president for business development and strategic projects. Abbate, a second generation title professional, will continue to report to Rush. Deployment of AutoExam(TM), SearchManager(TM) and a new title search product will be accomplished first to strategic Stewart Title offices and then via PropertyInfo.com to the wider marketplace.
As a real estate information provider, REIData serves the title, realty and lending markets via data access, integrated data applications, and online product distribution through its Web portal, PropertyInfo.com. REIData provides real estate transaction professionals with the electronic data and integrated applications needed to increase their business efficiency and improve the quality of information used throughout the real estate transaction process. More information about REIData is available at http://www.propertyinfo.com.
Stewart Information Services Corp. is a technology-driven, strategically competitive, real estate information and transaction management company. Stewart provides title insurance and related information services required for settlement by the real estate and mortgage industries through more than 9,000 policy-issuing offices and agencies in the United States and international markets. Stewart also provides post-closing lender services, mortgage default management solutions, automated county clerk land records, property ownership mapping, geographic information systems, property information reports, flood certificates, document preparation, background checks and expertise in tax-deferred exchanges. More information can be found at http://www.stewart.com.