Stewart Title Announces Green Title Insurance Initiative
|November 15, 2007|
HOUSTON-- -Responding to environmentally conscious home-buyers and sellers, builders and lenders, Stewart Title is introducing its Green Title initiative, offering a Green Title Policy produced by a Stewart Title office that is certified as Green.
“In a typical real estate transaction, the amount of paper and other resources used is staggering,” said Stewart Morris Jr., president, Stewart Title Co. “Across the industry, depending upon the type of transaction, approximately 460 pieces of paper are generated in a single closing. Multiply that by all the industry’s closings each year and the implications are clear.”
With an estimated 5 million residential sales forecast in 2008, combined with 2.8 million refinance transactions, a total of 7.2 million reams of paper would be used. The industry-standard calculation of 16 reams of paper being produced by one tree translates to more than 450,000 trees consumed.
“Stewart’s Green Title Policy enables environmentally sensitive customers to electronically order their title and escrow services, have their title commitment and closing statement sent electronically, read their closing documents online and close their home electronically,” said Morris. “In addition, these offices will be paperless in their title and escrow process.
Source: Stewart Title