Merger of title and valuation companies heralds birth of potent new national service provider
PROVIDENCE, RI/JACKSONVILLE F –July 13, 2009 – At a time when the field of national service providers is shrinking, regional powerhouse Equity National has signaled its intention to enter the market.
Equity National of East Providence, RI, a leading real estate title insurance and closing service provider, has expanded its service offerings to compete at a national level with its acquisition of Secure Collateral. Jacksonville-based Secure Collateral is a provider of valuation, field, and loss mitigation services to the real estate industry.
“Equity National is already well regarded for its concierge-level of professional title, escrow and closing services,” said James K. O’Donnell, Esq., President of Equity National. “Adding the capabilities of Secure Collateral now allows us to offer a top-flight appraisal operation. Working together, we’re poised to reach a wider range of customers and continue our growth within the financial and real estate sectors.”
Secure Collateral will retain its name and operate out of its current base in Jacksonville. The company plans to grow its workforce significantly in the near future.
“Secure Collateral and Equity National are a natural combination, and we share a deep commitment to exceptional service and quality,” said James Dammerich, President of Secure Collateral. “With our existing national network of service providers and our proven track record, we’re a great fit for Equity. The similarity of our corporate cultures, market goals and customer-focused performance position the partnership for rapid and successful national expansion.”
In the economic downturn of the past two years, several national vendor management companies, including Express Financial Services and Lender’s First Choice, have gone out of business, with others such as Pittsburgh-based ATM being absorbed by competitors. The result has been a smaller pool of national service providers and vendor management companies for lenders to choose from nationally. With the acquisition of Secure Collateral, Equity National joins a small field of national settlement service providers with the capability to service lenders of all sizes and geographic footprints.
Both spokespersons emphasized that exceptional customer service and quality would be the primary ingredients for the company’s planned growth.
“The two companies share a common philosophy on the importance of elite customer service and quality,” O’Donnell added. “We believe mortgage lenders at the national level desire additional choices when it comes to the settlement services, and that our customer-centric philosophy will carry the day as we grow.”
About Equity National
Equity National is a privately-held title and settlement services company which has delivered best-in-class service to lenders for 20 years. Based in East Providence, Rhode Island, it uses a customized approach to processing residential and commercial orders, adapting its workflow and personnel to each new mortgage lending customer. The company uses the latest technology as a foundation for its workflow, allowing customers to access their own data, order status, and other information at will throughout the process. Equity National’s unique process allows it to quickly deliver title reports, title clearing, closings, and title insurance for all mortgage products, including purchase, refinance, FHA, reverse mortgage and Real Estate Owned. Equity National also offers an in-home, bilingual closing agent network of more than 4,000 professionals. Equity’s national coverage in the continental U.S. provides a seamless loan closing process in every state. For more information, visit: http://www.equitynational.com/
About Secure Collateral
Secure Collateral offers a full suite of valuation services, field services, and loss mitigation services via its state-of-the-art web-based platform hosted by a recognized global leader in managed hosting. In addition, Secure partners with mortgage servicers, mortgage lenders, secondary mortgage investors, insurance underwriters, and attorneys to aid in the nationwide acquisition, management and disposition of distressed and foreclosed real property. Secure Collateral is a privately-held company based in Jacksonville, Florida. For more information or to become a professional services provider, visit: http://www.securecollateral.com/