Stewart Subsidiary Acquires Allonhill

Stewart Lender Services, Houston, has acquired Allonhill LLC, a due diligence and risk management company based in Denver. Terms of the deal were not disclosed.

In May 2012, Allonhill was dismissed by the Office of the Comptroller of the Currency as a foreclosure review consultant over an alleged conflict of interest. Then in December, it laid off 140 staff workers and contractors as part of it termed as a companywide restructuring.

Sue Allon is joining Stewart Lender Services as its vice chairman, “dedicated to leading [its] emergence into the capital markets space with due diligence and oversight services,” a press release said.

Allonhill’s due diligence technology platform is also being acquired by Stewart Lender Services, a unit of Stewart Information Systems Corp.

The deal gives Stewart Lender Services, a title, loss mitigation and real estate owned services company, the ability to do due diligence, loan quality reviews, compliance solutions and service performance management.

“With loan quality and compliance being in the forefront of industry concerns, we couldn’t be more excited to have some of the most well-known and experienced staff in the industry joining our operations,” said Jason Nadeau, president and CEO of Stewart Lender Services. “Through a combination of the staff, industry-leading technology and Stewart’s resources, this transaction brings us tremendous strength at a time when this segment of the market is re-emerging.”