Canadian-based MacDonald, Dettwiler and Associates Ltd.
said on Monday that it had rolled out MDA Lending Solutions, Inc.
in the United States, previously known as TransUnion Settlement Solutions.
If you work in the mortgage industry and haven't heard of MacDonald, Dettwiler and Associates, you're not alone. None of HW's sources had, either. But you've likely heard of the at least one of the company's two U.S.-based subsidiaries, DataQuick Information Services
-- whose reports on the California housing market HW regularly covers -- and MindBox, Inc.
, a well-known decisioning platform used in underwriting and pricing.
MDA Lending Solutions will look to leverage the analytics platform of DataQuick and the decisioning platform of MindBox to provide a complete set of services for lenders originating, servicing and securitizing real estate loans; services include collateral valuation, title and property information, flood compliance, residential credit and loan closing/settlement products, according to a press statement
Headquartered in Wilmington, Delaware, the business hits the ground generating approximately U.S. $110 million in annualized revenues, with approximately 400 employees.
"The introduction of MDA Lending Solutions is a significant step in MDA's expansion into the U.S. financial services sector," said Mike Dealy, president of MDA Lending Solutions.
"Our ability to leverage the combined capabilities of MDA entities like DataQuick and MindBox allows us to deliver more value to customers and develop improved information solutions for the financial services market."
The company is entering a field that has been dominated by some of the larger title companies, including the First American Corp. (FAF)
and Fidelity National Financial, Inc. (FNF)
; both companies recently spun off their real estate information services divisions.
For more information, visit http://www.mdasolutions.com