First minority-owned title company looks to R.P. for growth

Published: July 11, 2008 | Author: Krystina Orozco
Total Views: 864 | Philippine News
SAN FRANCISCO -- On July 1, 2008, the first minority-owned title company of California made its debut, while ultimately seeking out its goal to branch out into the Philippines. “It provides us with great joy and pride to in turn, provide help for our fellow Filipinos,” says division president of the First Southwestern Title Company, Alameda Division, Mike Macapagal. “Filipino workers are very competitive, loyal, and diligent when compared to other workers.”A partnership with the Nevada-based Team Nation Holdings, Inc., and the California corporation, Reliance Logic, Inc., gave birth to the Alameda Division of First Southwestern Title.

Confirmed by the State Department of Insurance as being the first minority-owned title company, Macapagal’s First Southwestern is faced with the challenge to fulfill an unprecedented role of providing service to a diverse community. As Macapagal and wife Katherine Gastrock-Macapagal operate under Reliance Logic, their holding company, along with a series of business ventures, a plan has been conceived to create the biggest Title Production Plant in Eastwood Quezon City and Subic, Philippines.

Uniquely devised, this plan seeks to revolutionize the industry by providing both software management services and design information technology to create a “paperless” method of title and escrow work, claims Macapagal. Working with the motherland is definitely not a new concept to the company. “We have been outsourcing with the Philippines for over 12 years now,” says president of RE Logic Glenn Basina.

“We also have a call center in the Philippines that works with insurances,” addd RE Logic’s broker Joey Valenciano. The motivational drive to carry business oversees always begins with success from home. “The real estate and title companies are going through very difficult times where a great number of companies are trimming down,” says Macapagal. “One out of three real estate and mortgage companies are closing down.”

Standing strong against the storm, the Alameda Division of the First Southwestern Title is not only the first minority-owned, but one of the few survivors in the real estate industry as well. “We are one of the remaining mortgage and real estate companies around in part due to our help from the call center in the Philippines,” says Valenciano.

Aside from paying great appreciation to the Philippines, the Alameda division survives, using a two-fold plan: partnership and plans to diversify services. Partnership will create a strategic type of alliance to emulate a more efficient kind of team work, says Macapagal, while adding software management and design information technology will diversify services making the Alameda Division thrive during real estate’s difficult times. Credibility is one of the division’s most valuable assets as their team of staff comes fully equiped with experience.
Macapagal has been in the title company for almost 20 years now, as his wife, Kate, has been an escrow officer about eight years. Valenciano and Basina are not only familiar with real estate, but are specialists in the field of engineering for about 15 years, providing expertise on the technical side of realty development.“With a great combination of all our backgrounds, our partnership will lead to great growth here at home and in the Philippines,” proudly beams Macapagal.