A mortgage service provider that helps home lenders manage their risk is unloading its suite of home valuation services. The acquirer also picked up a compliance company.
DataQuick Lending Solutions says it provides advanced information solutions to help real estate lenders make better decisions.
Among the services offered by the San Diego-based firm are credit reporting, closing services and flood compliance services.
DataQuick also provides collateral valuation, settlement services, and title and closing services — which Stewart Title Co. announced this week it has agreed to acquire.
Houston-based Stewart said the deal gives it a suite of collateral valuation products that includes appraisals, broker price opinions and hybrid valuation products.
The valuation products are expected to complement Stewart’s existing product line that supports home-equity lending and first mortgage lending.
“With the collateral valuation business line we recognized a significant opportunity to add a leading company with long-standing client relationships and expertise to our organization,” Stewart Group President Jason Nadeau said in the announcement.
The announcement additionally said that the transaction significantly expands Stewart’s mortgage service offerings, centralized title operations and retail office footprint.
The timing and terms of the deal weren’t disclosed.
After this story was originally published, Stewart issued another press release indicating that it acquired Farmington Hills, Mich.-based Wetzel Trott Inc., which reviews origination and servicing quality control.
