Realogy Holdings Corp. formed a strategic agreement to create a title insurance underwriter joint venture with an investment from funds affiliated with Centerbridge Partners, L.P. Under the agreement, Centerbridge will purchase controlling interest of Realogy’s title insurance underwriter for $210 million.
Realogy will maintain its ownership of Realogy Title Group, which includes its national title and settlement services and mortgage origination joint venture.
Read on for more about the agreement.