First American Corp. plans to close its real estate loan services office on Milwaukee’s northwest side by the end of the year, eliminating 169 jobs, the Greater Milwaukee Business Journal reported late Monday.
First American expects to close its First American National Default Outsourcing office at 7800 N. 113th St. on Dec. 30, according to a Worker Adjustment and Retraining Notification Act filing Monday with the Wisconsin Department of Workforce Development, the Journal reported.
The closure will be permanent, according to the Journal.
The Milwaukee operation is part of First American’s mortgage information segment, which provides loan origination and administration products, including mortgage-related default and loss mitigation services, for customers nationwide.
This has been a busy time for First American. Earlier this month, the company announced the acquisition of Certified Closing Network, a provider of customized title clearance and settlement services for clients with residential relocation-related transactions, the company said today.
A week before the CCN acquisition, the company announced that it had added a compliance element to its document management system, integrating ComplianceEase’s ComplianceAnalyzer with its Document Management System.
First American is a $6.7 billion provider of insurance, mortgage, property and credit data based in Santa Ana, Calif. The First American family of title insurance companies had a 28.62 percent market share in the industry in the first quarter of 2005, according to market share data from the American Land Title Association. First American pulled in $1.09 billion in revenue in that quarter.
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