Chronos Solutions Acquires UPF Services

Posted by Patrick Barnard on July 28, 2016 No Comments
Categories : Residential Mortgage

Chronos Solutions, a national real estate financial services provider based in Coppell, Texas, has acquired UPF Services, a Spokane Valley, Wash.-based provider of process-driven services and technology solutions for the real estate and mortgage industries.

Terms of the deal were not disclosed.

UPF Services offers document preparation and recording, lien release, flood hazard compliance and tax monitoring services. The acquisition of the firm “completes” Chronos Solutions’ suite of loan origination solutions, Chronos says in a release.

Chronos has been growing rapidly through acquisition since last year, when it acquired RealtyBid.com, an online real estate auction marketplace. In the first quarter of this year, the company acquired both San Diego-based mortgage technology provider Cogent Road as well as Commerce Title and Closing Services.

Existing solutions and services offered by Chronos Solutions include tax return verification services (through Taxdoor), credit reporting, analysis and verification services through Funding Suite, as well as appraisal and valuation services, homeowners association solutions, and comprehensive title and closing services through Chronos Title Solutions.

With the acquisition of UPF, Chronos Solutions will become a single-source for complete origination solutions, providing every service detailed on a homeowner’s closing statement, the company says in a release. What’s more, it will gain about 300 additional customers.

“Offering integrated services provides our clients with a huge advantage, enabling them to enhance efficiencies, reduce operational expenses, minimize risk and improve the overall customer experience,” says Matt Martin, CEO of Chronos Solutions (formerly Matt Martin Real Estate). “Now that we are the only ‘one-stop shop’ in the country, we are uniquely able to offer these synergies to our clients.”

Mark Hikel, CEO of UPF, will serve as Chrono Solutions’ president of outsourced and origination solutions.

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