LenderLive Settlement Services acquired MoKan Title Services, which has offices in Missouri and Kansas.
MoKan Title Services offers title insurance coverage and services for residential and commercial lenders on new loans, refinancings, foreclosure-related actions and REO tranactions.
LenderLive began offering title-related services for loan modifications in 2009, and with this acquisition extends its capabilities as an end-to-end title services provider in the default space.
MoKan was previously affiliated with Martin, Leigh, Laws & Fritzlen, a law firm based in Kansas City, Mo., and they will continue working together as strategic partners.
Financial terms weren't disclosed.
"We understand that the needs of servicers are changing drastically as the market resets and increasing regulatory compliance is required,” LenderLive President and CEO Rick Seehausen said. "The addition of MoKan gives us a solid opportunity to grow our offerings, add more default-related experience to our team and become the go-to company for all title and settlement services in this and every market cycle.”
LenderLive will retain its current staff and continue to operate from the current MoKan locations.
Amy Wilson was named vice president of default operations for LenderLive Settlement Services, and Berry Laws becomes director of strategic initiatives. Laws will also remain of counsel with Martin, Leigh, Laws & Fritzlen.