Stewart Information Services Corp. has announced its acquisition of United States Appraisals. The terms of the transaction were not made public.
Headquartered in Overland Park, Kansas, United States Appraisals provides residential management solutions on a nationwide level. Last month, the company released Valuguard Home Inspection, a mobile application designed to help independent appraisers and property data collectors remotely work with homeowners in providing images and data on properties.
Aaron Fowler, CEO at United States Appraisals, welcomed the acquisition by noting how it was “essential to align with a company with similar strategies and core values in this rapidly evolving mortgage service industry. We believe this partnership will allow us to expand our service offerings and serve our clients even better.”
Fred Eppinger, CEO of Houston-headquartered Stewart, views the acquisition as the next step in becoming “the premier title services company.”
“This acquisition shows our commitment to investing in Stewart by expanding our existing valuation service offerings, allowing us to serve our entire customer base better, propel additional growth and enable appraisal process innovation and modernization,” Eppinger said.
This is the first acquisition for Stewart following last September’s decision by the Federal Trade Commission to halt the company’s merger with Fidelity National Financial. The two companies terminated the deal, which would have seen Fidelity buy Stewart for $1.2 billion.