Stewart Title Co. has acquired quality control firm Wetzel Trott in a move to expand its origination and servicing audit and due diligence services.
Houston-based Stewart did not disclose the price of the transaction. Wetzel Trott is headquartered in Farmington Hills, Mich.
Wetzel Trott has specialized in quality control reviews for residential lenders for nearly 20 years. The company performs origination and servicing quality control reviews on conventional and government loans.
All Wetzel Trott employees will join Stewart, the company said in an April 7 press release.
"The transaction expands Stewart's quality control services to mortgage lenders and servicers in a time when regulatory compliance and loan quality solutions demand is at its height," said Jason Nadeau, group president at Stewart, in a press release. "We believe that services dedicated to improving loan quality will continue to be critical to our customers."
Stewart was advised on the transaction by Harborview Advisors.