The previously announced acquisition of a mortgage service provider that helps home lending companies manage risk is now a done deal.
The transaction was originally announced on Feb. 6 by Santa Ana, Calif.-based First American Financial Corp. , the buyer in the sale.
On the selling side of the $155 million deal is Jersey City, N.J.-based Verisk Analytics Inc., which provides risk data to its clients.
The company changing hands is Interthinx Inc.
Agoura Hills, Calif.-based Interthinx, a Mortgage Daily advertiser, helps mortgage bankers and financial institutions mitigate mortgage lending risk. Its signature product is FraudGUARD.
Interthinx uses data collected from FraudGUARD activity to publish its quarterly National Mortgage Fraud Risk Index.
In a prior announcement, Verisk Chief Executive Officer Scott Stephenson noted that the sale will enable his firm to focus on businesses most closely aligned with its strategy.
First American CEO Dennis J. Gilmore previously said that Interthinx will help it respond to clients who have indicated a need for tighter integration between loan origination, loan quality verification processes, and title and settlement services.
“The integration of Interthinx’s analytic services with First American’s title and settlement processes will benefit our lender customers, as they work to meet the demanding loan-quality requirements brought on by recent regulatory changes,” Gilmore said in a news release this week. “By tightly integrating First American’s title and settlement processes with the analytic services of Interthinx, we’re in a unique position to provide the industry’s most robust loan-quality assurance solution — from application to closing.”
