First American Financial Corp. has acquired post-closing services and document management technology provider TD Service Financial Corp.
TD Service Financial and its subsidiaries will become part of First American's Mortgage Solutions division as part of the deal announced Monday. Financial terms of the transaction were not disclosed.
The deal will expand First American's post-closing and document management capabilities, while TD Service Financial customers will now have access to First American's fraud detection, loan quality and compliance analytics services.
"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 life cycle of a mortgage loan," First American Mortgage Solutions President Kevin Wall said in a news release.
Following the acquisition, TD Service Financial founder and Chairman Dale Dykema and Co-Chairman Sandi Dykema will retire. In their wake, TD Service Financial President and Chief Operating Officer Robert Phelps will join the First American Mortgage Solutions' leadership team as part of the deal.
TD Service Financial and First American have a longstanding working relationship that was started by Dykema and First America's late former CEO Donald Kennedy.
