Radni and Raymond Davoodi recently received their underwriter license
in the state of New York. They were the first to do so in more than 15
years. Ameristract will have account executives with core duties, but
the underwriters will be doing the “high-liability” work themselves,
including handling the escrow funds.
The brothers started
Atlantis National Services Inc., a title insurance agency, in 2006.
Radni Davoodi was a partner at First Class Abstract before he bought out
his former partner and went into business with his brother. They
relocated their Long Island corporate offices from Mineola to Great Neck
and rebranded under Atlantis National Services Inc., now licensed in 32
states. Raymond handles the marketing and expansion and Radni handles
operations and compliance.
“About two years ago, the market was
shifting and there were rumors about some of the underwriters looking to
go direct,” Radni Davoodi said. “New Jersey Title went out of business
and there was a huge fallout about Washington Title. We thought a good
way to protect our future was to become an underwriter.”