First American Acquires TD Service Financial Corp.

Posted by Patrick Barnard on October 11, 2016 No Comments
Categories : Residential Mortgage

In a move that will further expand its offerings and significantly grow its client base, First American Financial Corp., which offers title insurance, settlement services and risk solutions for the mortgage industry, has acquired TD Service Financial Corp., specializing in post-closing services and document management. Terms of the deal were not divulged.

Founded in 1964, TD Service Financial Corp. has been providing a range of technology and services to mortgage lenders for decades. Currently, the firm’s main focus is on lien releases, audits, imaging, assignments, document retrieval and research, and post-closing services. Interestingly, the firm’s founder and current chairman, Dale Dykema, had a past business relationship with First American’s late, iconic, former CEO, Donald P. Kennedy.

“Joining First American feels like a natural extension of this relationship and will mean our customers will continue to receive high levels of service, as well as significant enhancements made possible by First American’s capabilities,” Dykema said in a release.

TD Service Financial Corp. has several subsidiaries that will be included in the acquisition, including TD Service Co., Security Connections Inc. and TD Quality Control Services. All will become part of First American’s mortgage solutions division.

The acquisition expands and enhances First American’s post-closing and document management capabilities.

“We’re excited to welcome TD Service Financial Corp. to the First American family,” said Dennis J. Gilmore, CEO of First American Financial Corp. “Both companies have a long history of dedicated service to our clients and commitment to our industry. We share the same passion for delivering superior customer service and similar core values rooted in putting people first, which ensures this move will benefit the customers and employees of both companies.”

TD Service Financial customers will benefit from enhanced post-closing technology and services augmented by First American’s fraud detection, loan quality and compliance analytics, and No. 1 industry position in real property data coverage and content.

“This union establishes a best-in-class, post-closing suite of services that further broadens our end-to-end offerings and ability to support our customers across the full lifecycle of a mortgage loan,” said Kevin Wall, president of First American Mortgage Solutions.

Dykema and co-chairman Sandi Dykema will retire following the acquisition, and Robert Phelps, current president and chief operating officer for TD Service, will join the leadership team that serves under Wall at First American Mortgage Solutions.

Register here to receive our Latest Headlines email newsletter


Leave a Comment