Commonwealth Agency
The Region's Premier
Commercial Title Insurance Company
Title Company Professionals Since 1971
Our Mission
Commonwealth will help streamline and simplify even the most complex real estate transaction, every step of the way. With over 40 years experience, and tens of thousands of closings under our belt in both the Philadelphia and New Jersey markets, Commonwealth can offer you the peace of mind that comes from our guidance.
Our main goal is simplicity. We understand that the closing process can be complex, but at Commonwealth, we strive to keep you from ever feeling confused or overwhelmed. We do this by providing clear, concise and informative instructions. We maintain constant contact with all parties involved, and make ourselves available for any questions or concerns that may arise throughout the process.
“We understand that buying real estate is a serious event and, at Commonwealth, you will be given the respect, attention, and most importantly, protection, you deserve.”
About The President
Marc Franzoni has been with Commonwealth since 1998 and the President of Commonwealth Agency, Inc. for the past six years. In 2009, the torch was passed on to Marc from his father, who started the company in 1971. Marc embraces the company’s history and works tirelessly to move Commonwealth Agency into the future. By using state-of-the-art technologies, Marc has his finger on the pulse of what drives business.
Marc believes that the customer comes first and he strives daily to achieve this. Marc Franzoni has dedicated his life to his business, the Philadelphia area, his family and his relationships. He feels that the best is still yet to come for Commonwealth Agency, real estate in the Philadelphia area and for the clients that he is proud to represent.
Services
- New Construction
&
Construction Financing -
Multi-Family Housing
- Office, Industrial
&
Special-Use Property
Attorneys, developers and lenders appreciate our expertise in these areas:
- General commercial transactions
- Multistate, multisite transactions
- New construction & construction financing
- Defeasance transactions
- Mezzanine financing
- Debt restructuring transactions
- Development and redevelopment transactions
- Hotels
- Office, industrial and special use properties
- Industrial Development Agency (IDA) financing
- Condominiums and Co-op
- Multifamily housing
- Affordable housing projects (PHFL)
- Air rights
- Agricultural properties
- Railroads, rights of way & pipelines
- Shopping malls & retail development
- Development rights
- Open space preservation
- Conservation easements
- Subdivision & zoning issues
- Golf courses & recreational facilities
- Leasehold transactions
The Klein Company has been working with Commonwealth Agency for more than 25 years. In that time we have completed in excess of 20 commercial transactions totaling over $500 million. Marc Franzoni and his staff are diligent in their research, efficient and timely in their preparation, and always keep us apprised of issues early in the process to avoid any last minute issues.
Closings are consistently smooth as far as title work because of their excellent advance preparation. I would highly recommend Commonwealth Agency Inc. to any commercial venture seeking title work with a seamless closing process.
It has been over 20 years and hundreds of millions of dollars in transactions that Commonwealth has represented our interests and we could not have been better served. I thank you and your entire team for working through the really “tough” deals as well as our everyday business transactions.
Marc Franzoni and Commonwealth Agency Inc. are absolute experts at efficiently resolving the most daunting title issues. This team of highly trained and responsive professionals has resolved every problem I’ve thrown at them, and we have never missed a closing. As for closing the easy transactions, working with Commonwealth is effortless…just provide a date and time and it gets closed, no problem.
Five years ago, Lamm Realty Group started using Commonwealth Agency Inc. for our acquisitions by our own account as a developer. Many of these transactions were complicated and extremely complex calling for attention to detail and timing on deliverables with the highest level of accuracy. Their team has delivered every time and gone above and beyond. Additionally LRG brokerage division and all of the clientele have been impressed and satisfied with their services and we have made them our preferred vendor of choice…I would highly Commonwealth Agency.
Our History
-
June 15, 1971
Industrial Valley Agency, Inc. was formed. Anthony Franzoni became
the first agent for Industrial Valley Title Insurance Company in PA -
June 20, 1983
Name changed to Commonwealth Agency, Inc. Commonwealth Land
Title Insurance Company acquired Industrial Valley Title Insurance Company -
February 1, 1990
Added First American Title Insurance Company as an underwriter
-
June 1, 1998
Marc Franzoni joined Commonwealth Agency
-
October 11, 2007
Became agent for Fidelity National Title Insurance Company
-
June 1, 2009
Marc Franzoni became president of Commonwealth Agency Inc.
-
June 24, 2009
Became agents for Old Republic Title Insurance Company
-
November, 2011
Received Business Clubs of America VIP Member award
-
June 1, 2011
Opened up 2nd location 1425 Walnut Street
-
October 25, 2012
Named 21st fastest growing company Philly 100
-
February 15, 2015
Received Contract from Philadelphia Redevelopment Authority
acting as agent for the Philadelphia Housing Authority to complete
pre-condemnation title searches and conduct closings
Best Practices
The American Land Title Association® (ALTA®) has created Title Insurance and Settlement Company Best Practices. These are meant to serve as a guide for ALTA members in enhancing existing business practices to protect consumers, ensure quality service, provide for ongoing employee training, and meet legal and market requirements. ALTA has committed to the Consumer Finance Protection Bureau (CFPB) that each Title Company will be compliant in 7 different areas (pillars) in order to participate in the business changes occurring presently.
At Commonwealth Agency, Inc. we continue to support you with the latest in title standards, regulations and Best Practices procedures.
Our continued interest in title insurance education and our up to date training are a regular and on-going activity so that we provide the best service possible.
Below are brief descriptions of each of the 7 Title Insurance and Settlement Company Best Practices, each of which has been adapted by Main Street Abstract Company.
All 7 Pillars of the ALTA Best Practices are the way for Commonwealth Agency, Inc. to demonstrate its commitment to our clients and our business partners.
LICENSING Establish and maintain current license(s) as required to conduct the business of title insurance and settlement services.
TITLE POLICY PROCEDURES Adopt and maintain written procedures related to title policy production, delivery, reporting and premium remittance.
RECORDING & PRICING PROCEDURES Adopt standard real estate settlement procedures and policies that helps ensure compliance with Federal and State Consumer Financial Laws as applicable to the Settlement Process.
ESCROW & TRUST ACCOUNT Adopt and maintain appropriate written procedures and controls for Escrow/Trust accounts.
PRIVACY & INFORMATION SECURITY Adopt and maintain a written privacy and information security program to protect Non-public Personal Information as required by local, state and federal law.
PROFESSIONAL LIABILITY INSURANCE Maintain appropriate professional liability insurance and fidelity coverage.
RESOLVING CONSUMER COMPLAINTS Adopt and maintain procedures for resolving consumer complaints.