First American Financial Corporation, a provider of title insurance, settlement services and risk solutions for real estate transactions, announced it will acquire RedVision Systems, an independent national provider of title and real property research.
RedVision is recognized in the industry for its technology, including its production platform of TitleVision and Nova, which offers a customizable for title research and production. HousingWire recently named RedVision to our Tech 100 list and the American Land Title Association named it an Elite Provider.
“We’re excited to soon welcome RedVision to the First American family of companies,” said George Livermore, First American executive vice president of data and mortgage solutions division, which will include RedVision.
“RedVision’s data, technology and services complement First American’s existing title search and title evidence production,” Livermore said.
In a statement to HousingWire, First American said the acquisition will allow First American’s Data Trace group, which provides real estate title search technology and support services, to build additional title plants quickly.
RedVision, which will become part of First American’s data and mortgage solutions division, will operate as a business unit under its current brand and management team, with CEO Brian Twibell continuing to lead the business.
"RedVision’s platform, now powered by industry-leading title and property data, will offer title evidence and packaged title reports with enhanced quality, accuracy and efficiency,” said Twibell. “Our employees will also benefit by being part of a company recognized in 2016 by Fortune magazine as one of the 100 best companies to work for in America.”
Lenders have also seen a lot of acquisitions lately. Acquisitions are on the rise for lenders as they struggle to manage the increase in costs to originate a loan, according to Mortgage Bankers Association chief economist, Mike Fratantoni.