HOUSTON (Aug. 16, 2005) - Stewart Title, a global real estate information company, and the National Association of Real Estate Brokers, Inc. (NAREB®), the oldest minority real estate trade association in the United States, have formed a strategic alliance to help pave the way for more minority families to achieve the American dream of homeownership.
NAREB® was founded in 1947 on the principle that all citizens have the right to equal housing opportunities, regardless of race, creed, or color.
"Our mission is to expand homeownership opportunities and help families build better lives. Our partnership with Stewart Title will allows us to work together in developing creative solutions," said Ronald Branch, president, NAREB®. "To further solidify the relationship, our organization has also designated Stewart its Preferred Title Company of NAREB®."
In June 2002, President Bush announced an initiative to increase the number of minority homeowners by 5.5 million families by the end of the decade. While the rate of minority Americans buying homes has increased rapidly since 2002, a disparity still exists. According to the U.S. Census Bureau, homeownership rates for African-American and Latino households are 25 percent less than the rates for non-minority households.
Through their alliance, Stewart and NAREB® will promote minority homeownership with education, counseling and grassroots programs designed to simplify the homebuying process. Stewart's local title offices will conduct training classes within their communities to teach real estate professionals and homebuyers about settlement and closing services. Stewart will also work to increase membership of existing NAREB® chapters and help establish new ones, creating business prospects for NAREB® members, known as Realtists, and expanding service opportunities in the communities they serve. Composed principally of African-Americans and other minority real estate professionals, Realtists are committed to achieving its mission - Democracy in Housing.
"Stewart Title and NAREB® are committed to developing opportunities to increase minority homeownership in America and ensure everyone is treated with the service and commitment they deserve," said Matt Morris, senior vice president, Stewart Title. "Through this partnership, we hope to eliminate barriers so more Americans can enjoy the benefits of owning homes."
To kick off the partnership at NAREB®'s national convention in Los Angeles, Stewart hosted a Leadership Breakfast including keynote speaker George C. Fraser. Fraser is a motivational speaker and best-selling author of several books including "Race for Success, The Ten Best Business Opportunities for Blacks in America." He shared his success principles, effective networking techniques, and diversity initiatives with NAREB® board of directors and local chapter presidents.
NAREB® is the oldest minority real estate trade association in the United States. It is dedicated to bringing together the nation's minority professionals in the real estate industry to promote the meaningful exchange of ideas about its business and how best to serve its clientele. NAREB® strives to create an environment where creativity flourishes in both the workplace and the marketplace. It teaches, lives by, and searches for the highest professional and ethical principles. In this way it can offer economic improvement for both its members and the minority community it serves.
Stewart Title is a wholly owned subsidiary of Stewart Information Services Corp. (NYSE-STC), a technology driven, strategically competitive, real estate information and transaction management company. Stewart provides title insurance and related information services required for settlement by the real estate and mortgage industries through more than 8,000 policy-issuing offices and agencies in the United States and international markets. Stewart also provides post-closing lender services, automated county clerk land records, property ownership mapping, geographic information systems, property information reports, flood certificates, document preparation, background checks and expertise in tax-deferred exchanges. More information can be found at www.stewart.com.