Real Estate: Nationstar Closes Deal for Equifax Settlement
Nationstar hopes the deal will allow it to partner with financial institutions
Nationstar Mortgage Holdings Inc. (NYSE: NSM) has purchased the appraisal, title insurance and settlement services unit of Equifax Inc., a consumer and commercial data provider.
The target, which does business as Equifax Settlement Services Holding LLC (ESS) is headquartered in Atlanta. Its customers include U.S.-based financial services companies. ESS generated $65 million in revenue in 2012.
Lewisville, Texas-based Nationstar offers mortgage servicing, origination and real estate services to financial institutions and consumers. The company hopes the deal helps it become a strategic partner to financial institutions. Nationstar plans to pursue acquiring fee-based services companies. Terms of the deal were not disclosed.
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