Market Analysis: Acquisition News

*A New Title And Data Quality Acquisition Deal Inked*
**By Tony Garritano**

***I sound like a broken record when I say now is the time to innovate, but it really is. Now is the time to take a new approach to an old method or strategy. To this end PROGRESS in Lending has learned of a creative acquisition that pledges to revamp the title sector. Charles Sanders, the founder of Urban Lending Solutions, a provider of residential and commercial mortgage products and services, has teamed up with settlement services industry veteran Michael Forgas, formerly CEO of National Real Estate Information Services (NREIS), to acquire RealtyData, a provider of title search productivity solutions. Sanders will serve as President and will hold a majority interest in the company and Forgas will serve as chief executive officer. Here’s the new company’s value proposition:

****“The technology that RealtyData has developed is very exciting and will change the way the title industry operates,” Sanders said. “That made the company a good investment at this time. I’ve known Mike for many years and look forward to working with him.”

****RealtyData technology allows title companies to automate title searches in 900 counties across the nation. In addition, a quality control engine can perform automated quality control on the resulting title commitments, reducing title agent expenses significantly.

****“The title industry has been slow to adapt to technological change, but economic pressure is forcing title agents to seek out tools that will allow them to provide their services more efficiently,” Forgas said. “Our technology allows title agents to not only be more efficient but also improve quality and at favorable prices. We must not forget about quality, especially in this time of significantly increased regulatory oversight.”

****Sanders said he and Forgas will first focus on penetrating deeper into RealtyData’s existing client base, moving good customers beyond simple searches and into the company’s quality control solution. For more information about the company, visit the website at http://www.realtydata.com/.

Tony Garritano

Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.