LRES, a property valuation firm in Orange, Calif., has acquired Lenders Choice, an appraisal management company in Tulsa, Okla.
The financial terms were not announced. The deal expands the LRES share of the market for property assessments, the company said in a press release Wednesday.
"The acquisition aligns with the strategic vision of LRES as we continue to expand our national reach," said Roger Beane, chief executive at LRES, in the release.
The deal closed on Jan. 1.
Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
