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States Title names Former Treasury Secretary Lawrence H. Summers to Board of Directors

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By Becky Hobbs

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San Francisco, CA, October 2, 2019 – States Title, who are using machine intelligence to transform residential real estate, today announced the appointment of economist Lawrence H. Summers to their Board of Directors as of September 23, 2019. “With over 30 years as a leader in academics, economics, and government, Summers’ insight will be invaluable as we continue to grow the States Title solution,” said Max Simkoff, CEO States Title.

Summers is the Charles W. Eliot University Professor and President Emeritus of Harvard University. During the past two decades, he has served in a series of senior policy positions, including Chief Economist of the World Bank, Director of the National Economic Council for the Obama Administration from 2009 to 2011, and Secretary of the Treasury for the Clinton Administration from 1999 to 2001. Summers’ tenure at the U.S. Treasury coincided with the longest period of sustained economic growth in U.S. history. He is the only Treasury Secretary in the last half-century to have left office with the national budget in surplus.

Summers received a Bachelor of Science degree from the Massachusetts Institute of Technology in 1975 and was awarded a Ph.D. from Harvard in 1982. In 1983, he became one of the youngest individuals in recent history to be named as a tenured member of the Harvard University faculty. In 1987, Mr. Summers became the first social scientist ever to receive the annual Alan T. Waterman Award of the National Science Foundation (NSF) and in 1993, he was awarded the John Bates Clark Medal, given every two years to the outstanding American economist under the age of 40.

Summers serves on the board of Square and Premise, Chairs the board of the Center for Global Development and serves on the board of ONE. Summers is aligned with the mission of States Title — to disrupt an overly complex process that confuses buyers and sellers, and in its current inefficient state, adds unnecessary cost to the homeownership process.

“Machine intelligence can not only make the home buying and selling process far simpler and easier for consumers to understand but also likely results in a lower-priced, higher-value product that will bring down the overall cost of owning a home. Making homeownership more accessible to a greater number of Americans, and enabling the mortgage ecosystem to operate with more efficiency and stability, will ultimately boost the economy,” said Summers.

Summers joins a remarkable board that includes Stuart Miller, Executive Chairman of Lennar Corporation, the nation’s largest homebuilder, Karen Richardson; Board member for among others BT and Worldpay; and Matthew E. Zames, President, and Senior Managing Director, Cerberus Capital Management.

About States Title Holding, Inc. and States Title
Founded in 2016 in San Francisco, States Title Holding, Inc. has grown rapidly to become one of the top ten largest title and escrow companies in the US. The States Title family of companies – States Title, North American Title Company (NATC) and North American Title Insurance Company (NATIC) – is able to impact 90% of all real estate transactions in the US. States Title’s first-of-its-kind, patented technology solution utilizes machine intelligence to make residential real estate closings vastly more simple and efficient. Current customers are able to close more loans, faster, and at a lower cost, while maintaining best in class quality and service. To learn more visit www.statestitle.com.