Mortgage banking industry law firm Butler & Hosch, P.A. said Friday morning that it will acquire Seattle, Wash.-based Regional Trustee Services Corporation as the legal services firm looks to further cement its West coast presence.
Terms of the deal were not disclosed, but the firms are in the final stages of the acquisition process.
The two companies are completing the due diligence process this week and expect to finalize the acquisition by the end of the month, Butler & Hosch officials said in a statement.
Butler & Hosch has been quickly expanding its presence in the Golden State, one of 10 states the law firm maintains offices in. In May 2013 the firm also acquired Cal-Western Reconveyance LLC, once one of the largest trustee companies in the nation, after the trustee company's then-parent Prommis Solutions had filed for Chapter 11 bankruptcy protection earlier in the year.
“We are looking forward to the strategic partnership with Butler & Hosch and the operational support that a national platform will provide to our organization," said Chris Rebhuhn, president at Regional Trustee Services.
Bob Hosch, managing partner at the law firm that in part bears his name, said that Rebhuhn will continue is his same role and that post-acquisition clients will see no changes in day-to-day operations or in senior leadership.
"The RTS platform aligns well with our existing West coast operations, and compliments the operational platform of Cal-Western," Hosch said.
"The intellectual capital, resources and customer service that make Regional Trustee Services a leader in the industry will remain intact by retaining all senior level executives, staff and operations," the company's statement regarding the acquisition said.
Regional Trustee Services provides non-judicial foreclosure services to mortgage servicers, investors and outside law firms in eight West coast states.