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Title Industry Titans Feel the Pain of Housing, Mortgage Downturn 

May 01, 2008By

The mortgage mess hit the balance sheets of three large title insurance providers this week, showing that the real estate mess has yet to work its way through the system. Stewart Information Services Corporation [stock STC][/stock], LandAmerica Financial Group, Inc. [stock LFG][/stock] and The First American Corporation [stock FAF][/stock] all said this week that the market downturn pushed revenues and income lower during the first quarter — with two of the title companies posting net losses for Q1. LandAm Sees Transaction Volume Dry Up