First American Completes Acquisition of ServiceMac
November 2, 2021
First American Financial Corp. recently completed its acquisition of mortgage subservicing company ServiceMac LLC.
First American said ServiceMac’s mortgage subservicing business will enhance the company's ability to provide lenders and servicers with end-to-end mortgage, settlement, post-closing services and servicing-related products and solutions. ServiceMac will have enhanced access to First American’s industry-leading property and homeownership data and mortgage solutions products, further advancing the company’s ability to add value to its existing services and develop new products and services.
“We are pleased to welcome ServiceMac to the First American family,” said Dennis J. Gilmore, chief executive officer at First American Financial Corporation. “ServiceMac’s rapid growth, innovative technology and business leadership align well with our ongoing commitment to support the mortgage industry and further expand our product innovation efforts.”
ServiceMac’s management team, including President and CEO Bob Caruso, will continue to lead the company, which will now operate as a wholly-owned subsidiary of First American.
“Joining First American further enhances our position as a counterparty in the mortgage finance ecosystem and allows us to work together to develop new products and services to support our industry,” Caruso said. “Equally important, our employees will benefit from becoming part of a company named to the Fortune 100 Best Companies to Work For list six years in a row.”
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