Stewart Title Guaranty Co., a provider of real estate services, announced it has reached an agreement with Bank of America to purchase its LandSafe Title businesses. A Stewart spokesperson said the acquisition of LandSafe, a title and closing products and services provider, is consistent with Stewart’s strategies to expand its mortgage and title operations and enhance the service Stewart offers to its mortgage customers.
“The LandSafe Title businesses purchase, coupled with the recent acquisition of the DataQuick title and collateral valuation business lines and Wetzel Trott joining Stewart, rounds out Stewart’s mortgage and title services expansion,” the spokesperson said.
Stewart recently acquired the DataQuick Title and Collateral Valuation business lines, expanding Stewart’s centralized title operations, valuation offerings and retail title office footprint.
Wetzel Trott also 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,” the Stewart spokesperson said.
Through these transactions, the company hopes to strengthen their leadership position in both the mortgage and title industries.
“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 spokesperson said.
The Stewart and LandSafe Title businesses will operate as usual until the close of the transaction.
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