Dolan Buys National Default Exchange

Dolan Media Co. here, a provider of business information and professional services to the legal, financial and real estate sectors in the United States, has acquired National Default Exchange, a mortgage default processing services company based in Addison, Texas.

NDE provides mortgage default processing services in Texas, California and Georgia, three of the top 10 in defaults. Dolan's subsidiary, American Processing Co., which provides similar services in Michigan, Indiana and Minnesota is buying NDE, which also provides property title services and licenses specialized mortgage software. Dolan also said that NDE has signed a long-term services agreement to provide mortgage default processing services to the law firm of Barrett Daffin Frappier Turner & Engel, which is also based in Addison. Michael Barett, a partner in the firm, is the founder of NDEx.

"Putting NDEx and APC together expands our operations to six states and better positions us to provide quality service," said Dolan Media chairman, president and CEO James Dolan, in a news release. (c) 2008 Mortgage Servicing News and SourceMedia, Inc. All Rights Reserved. http://www.mortgageservicingnews.com/ http://www.sourcemedia.com/