Nationstar acquires Equifax Settlement Services
Mortgage servicer Nationstar Mortgage Holdings Inc. (NSM) announced its acquisition of Equifax Settlement Services Holding LLC from its parent company, Equifax, on Thursday.
The subsidiary provides appraisal, title insurance and settlement services in the U.S., servicing blue chip clients and large financial firms.
Lewisville, Texas-based Nationstar will combine ESS into its Solutionstar unit and rebrand ESS 'Solutionstar Settlement Services.'
"This acquisition will play a key role in our goal to become the long-term strategic partner of choice to financial institutions," said Nationstar CEO Jay Bray. "Combined with our asset management and recovery businesses, ESS brings critical capabilities and an experienced management team that will greatly enhance the value of Solutionstar."
The servicer suggested it is not finished with its expansion. Bray said the company will still pursue acquisitions of fee-based service companies if they meet Nationstar’s return thresholds.
ESS pulled in $65 million in 2012 revenue and has 130 employees based in Coraopolis, Pa., and Frisco, Texas.
In the past year, Nationstar expanded rapidly with the firm acquiring large volumes of mortgage servicing rights.