First American Sub Purchases Mortgage Credit Reporting Unit from Fiserv
First Advantage Corporation, the consumer credit information services subsidiary of title industry giant The First American Corporation, said Wednesday that it had purchased the assets of Fiserv Inc.'s mortgage credit reporting business unit, CredStar. Terms of the acquisition were not disclosed. "CredStar represents a carefully chosen strategic fit that will help us expand the market share of our Lender Services segment," said First Advantage president and CEO Anand Nallathambi. "Combined with our market presence and scale, this acquisition helps us with consolidation benefits and will provide an excellent opportunity to work with Fiserv as a strategic alliance partner in the credit union and banking industries." CredStar is based in Los Angeles and operates satellite offices in Arlington Heights, Ill., Phoenix and Philadelphia. It provides credit information solutions to its mortgage lender clients via WebStar, a Web-based platform that delivers credit reports online. The system also provides custom connectivity to most major loan originating systems. For more information, visit http://www.fadv.com.