Newswires
Newswires RSS Get our newsletter
Order Prints
Newswires

Timios National Corporation Completes Acquisition of Glenn County Title Company

PR Newswire Association LLC

ARLINGTON, Va., June 19, 2013 /PRNewswire/ -- Timios National Corporation OTCBB: HOMS ("Timios"), a national provider of real estate services to banks, financial institutions and mortgage lenders today announced that it has completed the purchase of Glenn County Title Company (GCTC) after receiving regulatory approval from the California Department of Insurance on June 6th 2013.  Located in Willows, California, GCTC was a privately held title company serving businesses and residents in Glenn County California since 1891.

Pursuant to the purchase agreement signed and disclosed in May 2012, GCTC will be wholly owned by Timios, Inc., the primary Title and Settlement subsidiary of the Company, and its financial results will be consolidated under Timios, Inc and into Timios National Corporation.

C. Thomas McMillen, President and CEO of Timios National Corporation commented, "We are pleased the acquisition has been completed on the terms of our purchase agreement. This acquisition will allow us to enter the title insurance in California and will expand our coverage area and continue to grow our revenue."

Trevor Stoffer, CEO of Timios, Inc. commented, "I am excited to confirm our entry into the California title insurance market with the acquisition of GCTC. GCTC has an excellent history of dedication to their customers. We look forward to leveraging our technology service model to expand and support their clients, and welcoming Richard Thomas, President of GCTC, into the executive management team."

Richard and DeAnnah Thomas owned and operated Glenn County Title Company for the last 15 years and combine for over 60 years of experience in the industry. Mr. Thomas has managed a diversified suite of title insurance products ranging from commercial to residential policies.

Mr. Thomas, President of GCTC added, "We are excited to begin our partnership with Timios, Inc. and will now be able to bring new technology and services to our highly valued clients within Glenn County California."

About Timios National Corporation

Timios National Corporation is a company engaged in the strategic acquisition, development, and consolidation of real estate service businesses. The company is focused on creating long-term value by taking controlling interest and developing its subsidiary companies through superior operations and management. Former Maryland Congressman C. Thomas McMillen, who served three consecutive terms in the U.S. House of Representatives from the 4th Congressional District of Maryland, heads the company.

Timios National Corporation operates businesses that provide real estate products and service solutions, growing organically and by acquisitions. The company is targeting emerging companies that are generating revenues but face challenges in scaling their businesses to capitalize on growth opportunities.

Timios National Corporation's portfolio of companies includes:

Fiducia Real Estate Services, Inc.("FRES") is a holding company that provides real estate products and services through its three wholly-owned subsidiaries: Timios, Inc.Timios Appraisal Management, Inc. and Default Servicing USA, Inc.

Timios, Inc. ("Timios") is a national title and escrow company licensed to conduct business in forty states and the District of Columbia. The company provides various products and services to banks, direct mortgage companies and mortgage servicing companies through utilizing advanced technology in a paperless operating system. For more information about Timios, please visit www.timios.com.

Timios Appraisal Management, Inc. ("TAM") is a national appraisal management company providing property valuation services to banks, mortgage companies, portfolio managers and investors.  TAM manages a national network of appraisers and utilizes advanced technology to deliver quality controlled products in a paperless environment.  For more information about TAM, please visit www.timios.com.

Default Servicing USA, Inc.. ("DSUSA") is national asset management company providing a full range of services in the real estate owned (REO) industry to banks, financial institutions, investors and mortgage companies. DSUSA manages the disposition of REO properties from eviction to closing of the sale, ensuring the highest return on value through utilizing advanced technology in a paperless environment. For more information about DSUSA, please visit www.timios.com.

For more information about Timios National Corporation, visit www.timios.com.

Forward-Looking Statement

This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future activities, performance, events or developments, are forward-looking statements. Although HOMS believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements.

Contact: 
Timios National Corporation 
Ross English (469) 774-1491   
[email protected]

SOURCE Timios National Corporation

Wordcount:  743

Advisor News

More Advisor News

Annuity News

More Annuity News

Health/Employee Benefits News

More Health/Employee Benefits News

Life Insurance News

More Life Insurance News