Stewart Lender Services (SLS), a wholly owned subsidiary of Stewart Title Company, announced Aug. 13 that it has completed the acquisition of DataQuick Lending Solutions’ collateral valuation assets.
SLS is a nationwide provider of centralized origination title, loss mitigation/default resolution, default title, REO asset solutions, collateral valuations, quality control and due diligence for mortgage lenders, servicers and capital markets.
The transaction represents a significant expansion of Stewart’s mortgage services offerings to include valuation services.
Specifically, the bundle of mortgage services offerings acquired from DataQuick will include appraisal, broker price opinion and hybrid valuation products. These valuation products will complement Stewart’s existing product lines in support of home-equity and first-mortgage lending, as well as default and capital markets activities.
“This transaction further emphasizes our focus on growth and expansion of our ability to meet the needs of mortgage lenders,” said Jason Nadeau, group president of Stewart. “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. … We believe the combination of our Stewart Lender Services operations with these new business lines will create a leader in scale and scope of services for the mortgage services market.
“The addition of these platforms fully round out our service offerings — allowing us to support lenders from origination and home equity through all facets of performing or default servicing, including support for due diligence and other secondary and capital markets services,” Nadeau continued.
In addition to adding DataQuick’s collateral valuation assets, DataQuick’s team of industry experts has joined Stewart.
“We are thrilled to have DataQuick Lending Solutions’ team of industry experts officially join the Stewart family,” Nadeau concluded. “Their breadth and depth of knowledge will help Stewart continue to become the leading mortgage services provider.”