NEWPORT BEACH, Calif., June 3 /PRNewswire-FirstCall/ -- TEAM Title Inc., a wholly owned subsidiary of TEAM Nation Holdings Corporation ("TEAM") (OTC Bulletin Board: TEMN) is pleased to announce that it received its Certificate of Authority to Transact Business in Minnesota, Kentucky and the District of Columbia. The qualifications allow TEAM Title to present applications for its individual and agency title licenses to the regulatory authorities, a further step in TEAM's desire to achieve licensing in up to 38 states, increasing TEAM's revenue opportunities in the national marketplace.
Minnesota, Kentucky and the District of Columbia collectively represented 2.05% of the national marketplace for title insurance in 2009, according to the American Land Title Association. TEAM's licensure as a title agent will allow access to that marketplace and will allow it to begin soliciting direct business from the states and district. As TEAM adds to its licensing and opens up previously closed markets, it expects to increase its revenues in concert with the opportunity provided in the territory.
Dennis Duffy, CEO of TEAM stated "The qualifications are initial steps toward licensure of the TEAM as a title agent, opening up revenue opportunities for refinance and mortgage title insurance products in the states and the District of Columbia. Now that the company is qualified, we can submit our applications to the regulatory authorities. We are pleased and confident that the agency licenses will be quickly approved and we can move to direct operations."
About TEAM Nation Holdings Corporation
TEAM Nation Holdings Corporation, a Nevada corporation ("TEAM-NV"), is a management and services company specializing in title insurance and escrow services through our affiliate title agency(ies), and the provision of management, production services, HR administration, IT support, and accounting administration for title insurance companies and related real estate ventures. Team Nation Holdings, a Nevada Corporation ("TEAM-NV"), is a holding Corporation for Team Title Inc., a national title agency, and engages in direct settlement and ancillary operations through its Lender Solutions and Resource Solutions Divisions.
This news release contains forward-looking statements. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks described in the company's filings with the SEC.
SOURCE TEAM Nation Holdings Corporation