Cendant Settlement Services expands in South
|March 21, 2006|
Acquires assets of Mid South Title Agency
Cendant Settlement Services Group, a subsidiary of Cendant Corp., on Monday announced that it has acquired the assets of Mississippi-based Mid South Title Agency Inc. and its affiliates Mid South Title Agency of Alabama Inc., Nationwide Title and Closing Services Inc. and Southern Closing Services Inc.
CSSG purchased the assets from Fred Ross Jr., Mid South's owner and founder.
Mid South Title Agency, based in Jackson, Miss., and its affiliates are licensed and operating in seven states. The terms of the transaction were not disclosed and the transaction is not expected to have a material impact on the financial results of either Cendant or its Real Estate Services Division, according to a press statement.
Mid South Title Agency will now operate as part of Apex Real Estate Information Services, a wholly owned subsidiary of CSSG that is licensed and operating in 35 states, including each of the states where Mid South Title Agency does business: Alabama, Arkansas, Florida, Mississippi, North Carolina, South Carolina and Tennessee.
This acquisition gives Cendant Settlement Services Group a direct title operation in Mississippi with coverage extending throughout the Mid-South region. More importantly, it enables CSSG to directly manage the network of closing agents who provide service to Cendant Mobility customers.
Founded in 1991 as Southern Closing, Inc., the company began operating under the Mid South Title Agency name in 1994 to more accurately reflect its expanding regional market place. The company has provided title and closing services to Cendant Mobility for the past 14 years and is currently serving as one of its eight regional closing offices. Cendant Mobility, another unit of Cendant's Real Estate Services Division, is a relocation services provider to corporate, government and affinity clients.
Laurel, N.J.-based Cendant Settlement Services Group is a national title and settlement services company.
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