Stewart has reached an agreement with Bank of America to purchase its LandSafe Title businesses. The purchase of these operations is consistent with Stewart’s strategies to expand Stewart’s mortgage and title operations and enhance the service Stewart offers its mortgage customers.
The Stewart company spokesperson said, “The LandSafe Title businesses purchase, coupled with the recent acquisition of DataQuick title and collateral valuation business lines and Wetzel Trott joining Stewart, rounds out Stewart’s mortgage and title services expansion.”
Stewart acquires DataQuick’s title and collateral valuation lines
Stewart recently acquired the DataQuick Title and Collateral Valuation business lines expanding Stewart’s centralized title operations, valuation offerings and retail title office footprint. In addition, Wetzel Trott recently joined Stewart to add origination quality control service offerings for loan origination. These transactions coupled with the LandSafe Title businesses, represent a significant milestone of Stewart’s five-year growth strategy to both increase its share of mortgage services revenue, as well as to increase the percentage of direct issue title revenue.
“Through the transactions we are strengthening our leadership position in both the mortgage and title industries,” said the Stewart spokesperson. “This expansion fortifies our dedication to serve the growing needs of our customers and meet the demands of the market. The combination of these transactions with the existing Stewart Lenders Services operations positions us as one of the strongest providers in the mortgage services market and provides us an unsurpassed suite of services for our customers.”
The Stewart and LandSafe Title businesses will operate as usual until the close of the transaction.
Wetzel Trott is second acquisition by Stewart in April