Income tax verification firm Veri-Tax completed its purchase of Verification Bureau from Lender Processing Services (LPS) on Tuesday.
Through the acquisition, Veri-Tax will be able to provide clients with Verification Bureau's fraud detection services, which cater to loan originators, underwriters, loan processors and other financial firms.
Verification Bureau will continue to operate as a stand alone entity with offices located in Miami. The purchase will allow Veri-Tax to offer complete asset and collateral verification services using Verification Bureau's technology.
"In acquiring Verification Bureau, we saw the opportunity to provide lenders with a breadth of verification products and a level of service that were not previously available in the financial services industry," said Michael Chon, president of Veri-Tax. "Like Veri-Tax, Verification Bureau places the kind of focus on customer service as well as cutting-edge technology and data security that is required by today’s lenders."