Hoping to streamline end-to-end residential transactions, Guaranteed Rate has announced its acquisition of the Chicago-based title insurance underwriter Attorneys’ Title Guaranty Fund Inc. (ATG).
According to the ATG website, the company was founded in 1964 by a group of Illinois lawyers who were concerned about the shrinking role lawyers played in real estate deals. And as the state’s only Bar-Related® title insurance company, ATG President and CEO Peter Birnbaum, along with his team, have worked for years to maintain the mission of those founders.
“We are excited to be part of such an innovative, tech-forward company that is dedicated to preserving the lawyer-centric service model that has defined ATG’s success over the years,” Birnbaum said in a press a release. “With the support of Guaranteed Rate, ATG will continue to be the single most ardent and effective advocate for lawyers in the conveyancing process,” he added.
Guaranteed Rate President and CEO Victor Ciardelli also shared his excitement over the acquisition, saying, “I have always appreciated and valued the importance of the lawyer’s role in real estate transactions. That is why Guaranteed Rate is committed to the lawyer-agent business model created by ATG. We look forward to building on ATG’s success by giving lawyers and consumers the technology, tools and additional support that will enable ATG to flourish in the years to come.” Overall, he called the situation “a total win-win” for the firm.
For decades, Birnbaum and his team worked for decades to continue the legacy of the organization’s founders: Preserving the lawyer’s role in real estate transactions for the benefit of the consumer. “Together, ATG and Guaranteed Rate can continue our mission, long into the future, by demonstrating to the public that lawyers play an essential role in protecting consumers in the largest financial transaction of their lives,” Birnbaum said.