Orange Coast Title Company ("OCT" or the "Company"), a California corporation was founded in Orange County, by John L. Marconi in March 1974 as an underwritten title company offering residential resale title services to the real estate industry.
Despite depressed market conditions in the mid-1970s, OCT's dedicated staff of 13 successfully grew the Company. Within four months following formation, the firm moved to larger premises in Santa Ana, California. During its first year of operation the Company averaged 300 new orders per month and captured approximately 2%-3% of the resale title business in Orange County. By 1983, OCT had garnered more than 13% of the Orange County market and achieved a No. 1 market share.
In 1977, Orange Coast Title purchased a defunct title company in Riverside County and renamed it Orange Coast Title Company of Riverside. Within one year, Orange Coast Title of Riverside gained 2.5% of the market and by 1987 grew that figure to 13.7%. In 2003, Orange Coast Title of Riverside changed its name to Orange Coast Title Company of the Inland Empire (OCT IE) and San Bernardino County was added to its licensing authority. In 2009, OCT IE was merged with OCT LA into one entity and renamed Orange Coast Title Company of Southern California (OCT SC) licensed in 4 counties of Los Angeles, Orange, Riverside and San Bernardino.
In 1980, OCT opened a branch in San Bernardino County with five employees. This operation is now a part of OCT SC.
By 1986, the Riverside and San Bernardino county operations were combined into one office in Colton, California. Today, OCT's Inland Empire operations are located in San Bernardino, California and are a part of OCT SC.
OCT's Builder Services/Commercial Division began operations in 1979. This department offers expertise and specialized services for the residential and commercial builder, commercial brokers and lenders and large project type transactions. Staffed by the most experienced and knowledgeable escrow and title professionals in the industry, this division can successfully handle any size and complexity of real estate transaction. The Division also proudly services many City and County Government Agencies throughout Southern California. With licensing throughout California, the customer always receives the same high level of service no matter where the property is located. DRE (Department of Real Estate) processing and subdivision map processing, property hotlines for finding raw land and investment properties are some of the additional tools offered by the Builder Services/Commercial Division.
In late 1987, OCT acquired Terra Title in San Diego County, an established, successful organization with a complete title plant. Terra Title's name was changed to Orange Coast Title of San Diego and then California Title Company.
OCT created Orange Coast Financial Corp. in February of 1988 as a subsidiary to act as trustee in non-judicial foreclosures and as accommodator in 1031 exchanges. Orange Coast Financial Corp.'s name was changed to JLM Corporation in October 1990.
Continuing its Southern California expansion, OCT purchased Record Title Company of California from TRW in 1990. Licensed in both Los Angeles and Orange counties and handling primarily lender title orders, Record Title Company of California gave OCT an entree into the expansive Los Angeles market and a respected, experienced lender services staff. Orange Coast Title has expanded this "lender services" concept to other counties. Opening an office in Whittier, California, Record Title Company of California began to market residential resale and Builder Services business in May 1990. This branch also made Record Title Company of California the central processing arm of OCT for trustees sale guarantees (TSGs).
In December 1991, Record Title Company of California combined its Santa Ana, California and Whittier, California offices in La Mirada, California to form at the time the largest single operation in the OCT organization. In April 1992, Record Title Company of California changed its name to Orange Coast Title Company of Los Angeles. The Lender Services Group is now located in Anaheim, California and is part of the parent company, Orange Coast Title Company. The Los Angeles County Residential Resale Operations continued as Orange Coast Title Company of Los Angeles (OCT LA).
In 1992, OCT acquired a majority equity position in Financial Processing Systems, Inc. ("FPS"), a computer services company. FPS develops and supports escrow and title software and batch processing.
By 1994, OCT began expanding into other states by purchasing Courtesy Title, a small title company in Salt Lake City, Utah. Courtesy Title's name was subsequently changed to Equity Title Insurance Agency and subsequently sold in 2008.
In 1994, OCT took the lead in title technology, establishing a World Wide Web presence. One of the first title company web pages geared toward the real estate industry debuted with the URL: www.octitle.com. The web site consistently has led the industry in content, design and online transactions.
In 1995, OCT opened Equity Title Agency in Denver, Colorado. Subsequently, this operation was sold, but OCT retained the name "Equity Title" and a license to operate in Colorado. In 2004, Equity Title reopened in the Front Range of Colorado and included three(3) subsidiary entities, Equity Title Associates I, II, and III to service the state of Colorado.
In 1995, OCT acquired BEC Trust Deed Services, a foreclosure trustee. In 1997, BEC Trust Deed Services changed its name to Integrated Lender Services (ILS).
In July 1996, OCT opened Equity Title Agency in Phoenix, Arizona where it has grown to cover the entire "Valley of the Sun".
OCT's growth continued in 1997 when its Lender Services Group expanded into a new subsidiary called National Asset Management Group. Headquartered in Anaheim, California, this subsidiary allows the company to compete in the national lenders "asset management" market. OCT also opened a new Regional Production Center in 1997, consolidating its Southern California searching, examining and word processing departments into one location in Anaheim, California. The new center implemented state-of-the-art technology designed to better assist real estate professionals in processing title transactions. Today, the Anaheim Regional Production Facility produces Title Product for the entire State of California.
In February 2001, OCT purchased the assets of First Centennial Title in Reno, Nevada. By December of 2001, OCT had successfully acquired an Equity Title operation in Las Vegas, Nevada.
During 2001, California Title Company continued to grow in Los Angeles County. In January of 2002, California Title Company opened its doors in Orange County. Today, California Title Company continues its success and growth in 9 counties.
In 2003, OCT debuted its online transaction management platform - TrackMyFile.com - for the real estate community to track status items and share documents and information.
In 2004, OCT became the first underwritten title company to obtain a license to operate in all 58 counties in the State of California.
In 2005, OCT's Lender Services Group in Anaheim, California opened a single office operation under the name Orange Coast Title Company of Texas in Sugar Land Texas, providing the ability to service its customers there and as a base for future growth.
In 2006, OCT opened Real Advantage to round out its services to Lender clients in 38 states. Headquartered in Pittsburgh, Pennsylvania this division, coupled with the Lender Services Group in Anaheim, California allows OCT to provide nationwide services to its clients.
In 2009, OCT merged its OCT LA and OCT IE subsidiaries together to form Orange Coast Title Company of Southern California. During the same year, OCT reestablished residential resale operations in Northern California with offices in Campbell, Roseville and Sacramento. Also during 2009, OCT created a new division of NAMG called "Short Sale Division" which provides 'packaging' and 'negotiating' services to Realtors and Homeowners and Lenders considering a Short Sale Transaction.
Today, OCT offers title insurance as an agent for several National Title Insurers directly in 46 states and closing services in all 50 States. OCT continues to rank among the top 5 underwritten title company organizations in the United States.