With the acquisition of MFI Data, Unisource can pair MFI’s credit reporting services with the extensive offering of title and escrow services of Unisource National Lender Services for a comprehensive customer experience that reduces costs and increases loan production for lenders.
Unisource Joint Ventures, the parent company of Unisource National Lender Services, an industry leader in national title and escrow services, announces the acquisition of MFI Data, a subsidiary of Starrex International (STX.CN) that provides credit reports to mortgage lenders, effective March 25, 2024.
With the acquisition of MFI Data, Unisource can pair MFI’s credit reporting services with the extensive offering of title and escrow services of Unisource National Lender Services for a comprehensive customer experience that reduces costs and increases loan production for lenders. The company, with its latest acquisition, will rebrand as Unisource Credit.
“We are excited to welcome MFI Data into the Unisource family. This allows us to provide bundled services so our clients can close loans faster and pay fewer fees,” says Michael Cohan, CEO of the joint entity Unisource Credit. “The recent rise in credit reporting service costs has increased our clients’ cost of producing loans. With the acquisition of MFI Data, we can contain the pricing by providing competitive fees.”
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For mortgage companies, credit unions, banks and other financial institutions, having a single source for their title, escrow, and credit-reporting needs streamlines the processing of loans. Utilizing the combined technologies of both Unisource and MFI Data, Unisource Credit can help lenders increase volume and expand their service offerings to grow revenue.
Michael Cohan, currently CEO of Unisource, will remain CEO of the combined entity, Unisource Credit.
Defiant Capital Group served as the exclusive financial advisor to Unisource for the MFI Data acquisition.
Unisource National Lender Services is a leading provider of title insurance and escrow-related services for national and regional financial institutions. Utilizing advanced technology and custom service solutions, Unisource helps financial institutions automate and streamline their operational and sales processes.
MFI Data was a wholly-owned subsidiary of Starrex International and a licensed credit reporting agency that provided credit reporting services to mortgage lenders. Now a part of Unisource Credit, MFI Data expands Unisource’s offerings with integrated credit reporting capabilities.
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