HOUSTON—Stewart Lender Services, headquartered here, said Thursday that it had completed the acquisition of DataQuick Lending Solutions‘ collateral valuation assets, including settlement services and DataQuick’s title and closing business operations. The transaction represents a significant expansion of Stewart’s mortgage services offerings to include valuation services, and closes the loop on an acquisition first announced this past April. Deal terms were not disclosed.
“This transaction further emphasizes our focus on growth, and expansion of our ability to meet the needs of mortgage lenders,” Jason Nadeau, group president at Stewart, said in April. “With the collateral valuation business line we recognized a significant opportunity to add a leading company with longstanding client relationships and expertise to our organization.”
Further, Nadeau said, “With the title operations we are adding a centralized platform that has been providing services to the nation’s top lenders for more than 20 years. 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.”
Harborview Advisors advised SLS, a wholly owned Stewart Title Co. subsidiary, on the transaction. DataQuick itself changed hands this past March, trading from Decision Insight Information Group to CoreLogic. The deal included DataQuick’s Credit Solutions, Data & Analytics, and Flood Zone Determination businesses.