Chronos Solutions acquires UPF Services
Creates "one-stop shop" for loan origination services
Coppell, Texas-based Chronos Solutions, a national real estate financial services provider, announced its latest business move, finalizing its acquisition of UPF Services. The acquisition of UPF Services marks the fourth acquisition for the company since January 2015.
UPF Services, which is a Spokane Valley, Washington-based provider of process-driven services and technology solutions for the real estate and mortgage industries, brings more than 25 years of mortgage industry service provider experience to Chornos.
This move is the newest in a string of acquisitions from the company that have eventually transformed Chronos into a “one-stop shop” for loan origination services, providing every service detailed on a homeowner's closing statement, Chronos said.
Matt Slonaker, executive vice president of sales and marketing for Chronos Solutions, first alluded to the acquisition in an interview with HousingWire back in July (fast forward to 2:25 to see his response).
Now only a few weeks later, Slonaker and Andrew Gladston, senior vice president of corporate development at Chronos Solutions, revisited with HousingWire to give the full details of the acquisition.
Gladston explained when the company was going through these acquisitions, they were looking for ways to supercharge these recent acquisitions with some good deals that can help and expand their customer base and product and service offerings.
Several of the new service offerings include: Document preparation and recording, lien release, flood hazard compliance and tax monitoring services. This additions complete Chronos Solutions' suite of loan origination solutions.
In addition, Chronos Solutions said customers will now be able to order these services on a standalone basis or in conjunction with Chronos Solutions' existing service offerings, including tax return verification services (through Taxdoor), credit reporting, analysis and verification services through Funding Suit, as well as appraisal and valuation services, HOA solutions and comprehensive Title and Closing services through Chronos Title Solutions.
"Offering integrated services provides our clients with a huge advantage, enabling them to enhance efficiencies, reduce operational expenses, minimize risk and improve the overall customer experience," said Chronos Solutions CEO Matt Martin. "Now that we are the only 'one-stop shop' in the country, we are uniquely able to offer these synergies to our clients."