Equifax Inc. and ATM Corp. have formed a joint venture to launch a national settlement services company, the two announced late last week. Equifax Settlement Services LLC will provide a complete set of mortgage settlement offerings, including title, closing and appraisal services.
Equifax, along with Experian and TransUnion, are the nation’s three major credit-reporting companies.
“The introduction of Equifax Settlement Services enables us to provide a centralized resource to meet the growing settlement needs of our mortgage lending customers,” said Dann Adams, group executive, Equifax North America Information Services. “This new venture is an important step in establishing Equifax’s comprehensive suite of end-to-end mortgage solutions. The combination of our mortgage industry expertise and ATM’s process management experience and proven track record in building national settlement services companies made them a natural choice in forming this new company.”
Based in Pittsburgh, Pa., the new venture will combine ATM’s VISIONSM Systems, a Web-based settlement system, with Equifax’s technology and market reach. Equifax Settlement Services will provide vendor management and settlement services that aim to enable lenders to close more loans and streamline the overall mortgage experience.
ATM Corp., holding company for Vision Global Solutions, LLC, provides settlement services to large, national mortgage lenders.