""First American Financial Corporation"":http://www.firstam.com/, a company specializing in title insurance, settlement services, and risk solutions for participants in real estate transactions, announced the signing of an agreement to acquire ""Interthinx, Inc."":http://www.interthinx.com/, a provider of loan quality analytics, decision support tools, and loan review services.[IMAGE]
First American struck the deal with Verisk Analytics, Inc., agreeing to pay $155 million. The transaction is expected to close by March 31, pending closing conditions.[COLUMN_BREAK]
First American CEO Dennis Gilmore said the purchase comes in response to customers' desire ""for a tighter integration between loan origination activities, loan quality verification processes, and title and settlement services.""
""The added capabilities of Interthinx will allow us to leverage our central role in real estate transactions to offer our customers further assurances in areas that present risk, including fraud; identity and income validation; collateral adequacy; and compliance,"" Gilmore said. ""This puts First American in a unique position to provide the industry's most robust loan-quality assurance solutions--from application to closing.""
The acquisition also represents a ""significant step"" in the company's effort to capitalize on its unique data assets to enhance its offerings, he added.
For Interthinx's part, president Jeff Moyer said the firm is ""delighted by the opportunity to combine our expertise with that of First American, a company known for its integrity, innovation and solid commitment to the real estate community.""