Alliance Title’s slogan was “Closing The California Dream”. If their definition of California Dream was their operations, then they succeeded.

The Merc is reporting that they have closed down. With 200 offices and 2,000 employees, Alliance is the latest piece to fall in the housing and sub-prime crisis domino. Sub-prime lenders and brokers felt the first hit, and the subsequent slow down in the housing market has caused Alliance Title to become the first Title Company to close down in California in several years.

Alliance Title was a second or third-tier player in the Silicon Valley market so the effect that their closing will have will likely be minimal. They were underwritten by First American so outstanding business will likely be taken care of without a hitch. First American is the dominant escrow and title company in the San Francisco Bay Area commercial market.