Placer Title Company, with more than 60 branches throughout California has launched Placer Closing Services, its new REO closing division located in Fresno. Bobby Majors has been named VP and appointed to run the new division. Majors was formerly an area manager for First American Title in California.

In forming the new division, Placer says it is giving clients a single point of contact in the state of California for all REO closings. Placer Closing Services will handle the closing end of transactions only, allowing other companies, such as First American or Fidelity, to see to the title work.
Opened in 1972 in Auburn, California, Placer Title is an independently-owned title company, underwritten by Stewart Title, Westcor Land Title, Land America Title, and Old Republic Title, with sister companies in Idaho, Montana, and Wyoming.
Majors says Placer is currently working with six different banks and asset management companies, with the capacity and desire to take on many new clients. Majors says the company acquired its client base because larger firms in the industry have become overloaded by the onslaught of defaults and foreclosures, and Placer can offer more personable service by caring for its customers instead of stockholders.