As reported by a release:
WILMINGTON, Del.--(BUSINESS WIRE)--Aug. 31, 2004--TransUnion Settlement Solutions, a subsidiary of leading global information solutions company TransUnion, today announced the acquisition of Denver-based AccuPost Corp., a technology and outsource services provider of post-closing solutions. The terms of the deal were not disclosed.
TransUnion Settlement Solutions offers customers a single point of access to services for every stage of the loan origination process and servicing lifecycle. This acquisition allows TransUnion Settlement Solutions to enhance and extend its suite of post-closing services by leveraging AccuPost's existing platform to deliver mortgage assignment and release processing, document retrieval, portfolio due diligence, document imaging and government insuring services."The addition of AccuPost's solutions bring our customers enhanced value in the residential mortgage process," said Rick Lynch, president of TransUnion Settlement Solutions. "Lenders now have an even more robust solution to help them increase productivity, achieve higher acceptance ratios of their collateral files and insure documents more efficiently."
The acquisition also addresses the current post closing needs of subprime, direct and wholesale lenders whose large broker networks create challenges for lenders and trustees trying to maintain a chain of title. In the wake of the 'refi boom,' addressing trailing documents' issues represents a commitment of vast amounts of valuable resources. The joint solution provides lenders an efficient and manageable way to address post closing title issues.
"By harnessing the power of our combined capabilities and expertise, mortgage lenders will feel the results of a more comprehensive solution," said Dick Solheim, chief executive officer of Denver-based AccuPost Corp. "We are delighted with the opportunity to be part of an industry leading organization such as TransUnion Settlement Solutions."
Very smart move for TransUnion. Great opportunity for mortgage lenders.
This was originally posted at Hundred Acres, the world's first real estate community weblog.
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