Houston-based Stewart announced on April 7 that it had acquired Wetzel Trott Inc., Farmington Hills, Michigan, which will add quality-control audit and due-diligence offerings for the mortgage origination and servicing space.
On April 2, Stewart also announced it had entered a definitive agreement with DataQuick Lending Solutions to acquire its collateral valuation, settlement services and title and closing business operations.
The DataQuick acquisition expands Stewart's title operations by adding two additional processing centers in the United States, as well as a suite of complementary branch operations, a team of title and closing operations staff and a platform for growing centralized title services. The company added that the deal also broadens Stewart's bundle of mortgage services offering to include collateral valuation products that include appraisal, broker price opinion and hybrid valuation products. Stewart noted in a release that the valuation products will complement existing product lines for home-equity and first-mortgage lending, as well as default and capital markets activities.
"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. And 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...