Calif. title firm expands into Nevada

Chris Jones

Thursday, March 21, 2002 | 11:10 a.m.

American National Financial Inc. may be new to the area, but the California-based title company's Southern Nevada expansion will be directed by a management team that's already well-acquainted with the local market.

The company, which reported assets of $66 million at the close of last year, sells title insurance and other real-estate related services through its subsidiaries in Arizona, California and New York. It moved into the Las Vegas Valley on March 11 when it opened five branches of its newly licensed Pioneer National Title of Nevada Inc.

Pioneer National's top executive, Diana M. Steiner, has 26 years experience in the local title industry following lengthy tenures at Stewart Title and Old Republic Title Co. She's joined by Bill Rohrbaugh, a 24-year industry veteran and longtime Old Republic employee, who with Steiner helped direct one of the Valley's top title operations for most of the past decade.

"We managed the No. 1 residential real estate trust company in town for the last nine years," Steiner said. "We're very familiar with this market."

Michael C. Lowther, chairman and chief executive officer of ANFI, said Wednesday he has high expectations for his company's Nevada venture.

"Clark County is one of the fastest growing areas in the country," Lowther said. "Pioneer National will soon become one of the largest agents of our subsidiary underwriter, National Title Insurance of New York Inc."

Lowther also praised the accomplishments of Steiner and Rohrbaugh, as well as Escrow Operations Manager Jodi Grover, when they were hired in January.

"We are fortunate to have three of the top producers in Clark County," Lowther said. "We believe with their leadership we will be able to gain a significant market share in one of the most fertile real estate markets in the United States."

Despite talk of a slowdown, approximately 56,000 homes were sold in Clark County last year, according to the Las Vegas-based real estate analysis firm Home Builders Research, Inc. Steiner said she's confident Southern Nevada's real estate market can support another title company.

"For the last 25 years, someone has said business will only be good for five more years," Steiner said. "I've worked here five times that long, and I'm confident growth is going to continue."