Guaranty Title Co. abruptly closes doors, investigation opened

Guaranty Title Co. closed its offices Tuesday without warning. Calls to several of the offices this morning were met with recordings. A piece of paper hanging on the door of the 2217 E. Kearney St. office directed customers to call a Nixa phone number.

A recording at that number instructed callers to leave detailed messages, but the recording looped without allowing callers to do so. The recording urged callers to contact the agency via fax or e-mail.

“We apologize for the inconvenience,” the recording said. “We are working diligently to return all phone calls and address all issues and concerns.”

Rick Burton is company president and registered agent for Guaranty Title, which was created in 2001, according to the Missouri Secretary of State’s office.

Guaranty Title is the region’s third-largest title company based on the number of full-time employees, according to Springfield Business Journal’s 2007 list of area title companies. The agency had 45 employees in 9 closing offices, according to the list.

The Missouri Department of Insurance is investigating the circumstances surrounding the title agency’s sudden closing, spokeswoman Emily Kampeter said late Tuesday.

“We are charged with regulating insurance companies, and it’s also important that we ensure that consumers are protected in this situation,” Kampeter said. “We will be reviewing their financial records and accounts.”

Kampeter said the state has been in touch with at least one of Guaranty’s underwriters, Land America Commonwealth in St. Louis. A Land America employee was not immediately available for comment this morning.

Guaranty Title is not affiliated with Springfield-based Guaranty Bank.

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