117 Title Plant Resources Across Texas and New Mexico Added to Enverus’ Robust and Scalable Database Platform
Enverus, the leading global energy data analytics and SaaS technology company, announced that it has acquired Integrity Title Company, the largest provider of title plant access in Texas and New Mexico, and premier land and real estate verification company. Enverus plans to integrate Integrity Title’s technology into a unique-to-market source platform called Integrity Title Plants to create the most robust and accurate title evidence research platform accessible online.
Integrity Title’s title plant databases currently cover 92 title plant counties in Texas and 15 title plant counties in New Mexico and constitute more than 90% and 75% of the population and title premium remittance respectively for the two states. The Texas title insurance industry annually produces revenue in excess of $1.8 billion. Enverus’ technology and quality control processes, combined with Integrity’s Title’s geographic coverage, will enable the creation of the highest quality, easiest to search and most current title plants in Texas and New Mexico.
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“Anyone who works in a land-based industry knows that constructing a chain of title is a very time-consuming, document-intensive task requiring multiple searches through cumbersome card and tract plants, and often, in-person trips to county courthouses,” said Scott Luna, director and former owner of Integrity Title. “As the Unities States’ real estate continues to evolve and transform, Integrity Title Plants is best positioned to support land diligence for all residential or commercial projects be it land or energy development, including wind or solar farms, highways and road expansion and transmission lines or pipelines.”
“Combining forces with Enverus creates enormous opportunities for Integrity Title and our customers, not only for title research, but also in providing energy companies the opportunity to seamlessly unite title insurance products,” said Manuj Nikhanj, president of Enverus. “This is about accelerating innovation through high-powered technology and we couldn’t be more optimistic about our future together.”
In title research, most title plants typically extend back 40 years and give in-depth overviews of critical information regarding a tract of land. This data is used by title companies, attorneys, investors, developers, builders, real estate agents and banks to add confidence, minimize risk and reduce the cost to produce title insurance. Mistakes during the title process can be expensive and even terminate projects. By merging the digitization of land and courthouse records owned by Enverus, Integrity Title Plants converts weeks of time-consuming research into seconds.
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“Texas has become the number one state in the nation for net new population growth resulting in accelerated demand for title research,” added Silas Martin, general manager of Land products at Enverus. “If title companies and underwriters are not prepared for the spike in activity, they will miss capturing their share of this expanding market. Integrity Title Plants allows our customers to process more closings, directly resulting in revenue growth without an increase in spend.”
Today’s announcement combines the companies’ complementary strengths to accelerate technology, machine learning and advanced analytics. Integrity Title data within Enverus’ SaaS platform allows users to benefit from improved quality of data, speed and ease of access to that data, and confidence in the results returned.
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