HOUSTON (March 27, 2007) – Stewart Title Company's timeshare industry subsidiaries, InterCity Capital Corporation and InterCity Escrow Services, together known as Stewart Vacation Ownership, have named Leon Basye as president. InterCity Escrow Services was founded in 1987 to handle closings for deeded and non-deeded timeshare escrows.
A 22-year title industry veteran, Basye has most recently served as president of Resort Title Agency, a subsidiary of Bluegreen Corp., a leader in the vacation ownership industry with an exchange network of more than 3,700 resorts, cruises and hotel stays. Resort Title Agency handles transactions and title closings for Bluegreen, including escrow, resale and developer closings.
In his position as president, Basye also was involved with multi-million dollar multi-site acquisitions, timeshare financing and securitization. He has been in the timeshare industry since 1998.
"My goal is to enhance the brand recognition of Stewart Vacation Ownership and make it the number one leader in serving the vacation ownership industry," said Basye. "My unique background in both the title and timeshare industries places me at a distinct advantage to affect the best experience for Stewart Vacation Ownership's customers."
Basye is moving to Orlando, Fla., to open a second office for Stewart Vacation Ownership, whose other office is in Pleasanton, Calif.
"When we sold The InterCity Companies to Stewart Title," said Brian Hurley, chairman and co-founder, "we set out to create a title and escrow provider whose products, services and technology were uniquely tailored to the timeshare and fractional development marketplace. Under Leon's leadership, we move into a second phase of our plan by coordinating nationwide services through both East and West Coast locations, and by expanding Stewart Title's strengths in agency underwriting, transaction coordination, title and escrow production, and customized title coverage for deeded and non-deeded resort offerings around the globe."
Stewart Title Company, InterCity Capital Corporation and InterCity Escrow Services are subsidiaries of Stewart Information Services Corp. (NYSE-STC), a customer-oriented, 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 9,500 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 http://www.stewart.com/.