TransUnion said today it is entering the title insurance underwriting business in California with the acquisition of four companies currently owned by Southern California-based Diversified Holdings Corp.
The company said the acquisition further complements its real estate services subsidiary, TransUnion Settlement Solutions, which helps mortgage lenders acquire new customers, originate and close loans faster and manage the post-closing process.
Terms of the transaction were not disclosed.
TransUnion provides title and escrow services in other states, but the purchase of Diversified Title Insurance Co. gives the company its first footing in California. Diversified has been insuring property titles in California for more than 75 years.
The other three companies acquired include Diversified Title & Escrow Services Co., a licensed, underwritten title company providing title and escrow services through an extensive branch network in Southern California; Diversified Exchange Corp., a provider of tax-deferred, like-kind exchange and cash holdback escrow services to individual, corporate and institutional taxpayers; and Diversified Reverse Exchange Corp., a provider of reverse 1031 exchanges.
Chicago-based TransUnion offers a range of financial products and services that enable customers to manage risk and capitalize on market opportunities.
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