The next wave of servicing regulation is coming – Are you ready?

Join this webinar to learn what servicers need to know about recent and upcoming servicing compliance regulations and strategies experts are implementing to prepare for servicing regulatory audits.

In a purchase market, rookie LOs may struggle

Rookie LOs in 2020 could ride the refi wave and rack up a hefty monthly paycheck without Herculean effort. But these days, they'll have to sing for their supper.

Logan Mohtashami on trends in forbearance exits

In this episode of HousingWire Daily, Logan Mohtashami discusses several hot topics in the housing market, including recent trends in forbearance exits and future homebuyer demand in the midst of inventory shortages.

Natural disasters and forbearance: What borrowers and mortgage servicers need to know

With a rise in natural disasters, including wildfires, hurricanes, floods, tornadoes and mudslides. The mortgage industry needs to be proactive in examining programs to help borrowers recover.

ClosingFintechIPO / M&A

Covius to acquire Nationwide Title Clearing

Deal bolsters Covius' mortgage document prep capabilities

Nationwide Title Clearing, one of the country’s largest mortgage document prep companies, is to be acquired by settlement services firm Covius Holdings.

Terms of the deal, which is expected to close in the fourth quarter of 2021, were not disclosed.

In acquiring NTC, Covius is beefing up its offerings in lien release and various document production services. Founded in 1991, Florida-based NTC also does collateral research and property reports; capital markets transactions and file services; and default servicing and title curing.

Covius, formerly known as LenderLive, said 670 employees of NTC will be joining the firm once the deal closes, including senior management.

“Over the past three years, Covius has continued to build out our platform of tech-enabled offerings through acquisitions and organic growth,” said John Surface, the president and COO of Covius Holdings. “Our robust solutions span origination, servicing and capital markets segments, offering loss mitigation and loan modification services, document and critical borrower communications, title and settlement services, auction and REO asset disposition, verifications and due diligence. NTC’s market-leading solutions strategically complement Covius’ existing broad offerings.”

The acquisition follows a slew of deals by Covius, including the 2020 pickup of Clayton Services LLC from Radian, which improved Covius’ capabilities in due diligence and credit risk management surveillance services.

In 2019 Covius also acquired part of Chronos Solutions, which gave it services in credit, flood, income, and tax verification services; government services; REO management and disposition; as well as online foreclosure auctions; and homeowners association tracking units. In 2018, the company acquired reQuire Holdings, which focused on compliance, quality assurance and valuation solutions. The company sold off its mortgage fulfillment and secondary marketing division, known as LenderLive, to Computershare Loan Services.

Both Covius and NTC have made HousingWire Tech100 lists in recent years, and NTC was named to Inc. Magazine’s 5000 list this year, sporting a 63% growth rate.

Leave a comment

Most Popular Articles

These are the hottest housing markets in America

A housing market report from RE/MAX found that 36 of 51 metro areas had double-digit year over year sale price increases in August. Boise led the way.

Sep 17, 2021 By

Latest Articles

Forbearance numbers fall as borrower exits remain high

Servicers’ forbearance portfolio volume fell once again last week, as exits remained elevated compared to requests or re-entries. It fell 8 bps to 3.00%.

Sep 20, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please