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Companies that provide residential and commercial title insurance products.
Mortgage originators, such as mortgage companies and banks, are the principal source of business for title companies. Mortgage companies have grown rapidly in the past decade, originating 60 percent of all residential mortgages in 2000 versus 35 percent in 1990. Mergers and acquisitions have produced a handful of very large originators.
Hoover's has developed its own industry classifications to better serve its customers. These classifications are mapped to the North American Industry Classification System (NAICS) and the older U.S. Standard Industrial Classification (SIC) system. The Title Insurance maps to a number of NAICS codes including:
Using the 2002 Census Bureau Economic Census, Hoover's has generated an industry financial summary for the Title Insurance industry.