Covius to Acquire Nationwide Title Clearing
September 16, 2021
Covius Holdings has reached an agreement to acquire Florida-based national lien release provider Nationwide Title Clearing (NTC).
The transaction is expected to close early in the fourth quarter, subject to customary closing conditions. The terms of the agreement were not disclosed.
According to a release, approximately 670 NTC associates will join Covius.
"For 30 years, NTC has been a trusted provider of high-quality post-closing services to originators, servicers and the capital markets sector,” said Rob Clements, chairman and CEO of Covius. “This acquisition significantly expands Covius' post-closing capabilities, in the same way last year's Clayton acquisition scaled our due diligence offerings. Similarly, Covius' technology suite can be applied to NTC operations to further increase efficiency. We welcome our new associates from NTC and the experience and capabilities they will bring to our combined clients."
John Hillman, NTC's chief executive officer and a 25-year veteran of the industry, added, “With a longstanding reputation for quality, NTC is confident in the benefits that this strategic transaction will offer to our clients and employees, as well as the cultural fit between our organizations. NTC strengthens Covius' offerings while improving the experience of our current clients through technology enhancements and complementary solutions under a single agreement and broader resources. We are excited for this strategic opportunity and look forward to future growth."
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