TransUnion Enters Title Insurance Underwriting Business in California

CHICAGO, IL – TransUnion, a leading global information solutions company, today announced the acquisition of four companies currently owned by Southern California-based Diversified Holdings Corporation. The acquisition further complements the complete offering of TransUnion’s real estate services subsidiary, TransUnion Settlement Solutions, which helps mortgage lenders acquire new customers, originate and close loans faster and manage the post-closing process. Terms of the transaction were not disclosed.

The acquisition of Diversified Title Insurance Company – one of the four acquired companies – gives TransUnion a presence as a licensed title insurance underwriter in California, further extending its already established position as a national provider of title insurance and escrow services. Through its offering, Diversified has been insuring safe transfer of interests in California property for more than 75 years, establishing itself as a customer-centric, experienced real estate services partner. These services will be brought to TransUnion’s national base of customers, while TransUnion will make available to Diversified’s California base of customers title, escrow and other mortgage products and services throughout the country.

“As a national title insurance agency, we have been offering title products and services since the mid-90s,” said Rick Lynch, president of TransUnion Settlement Solutions. “This acquisition is a logical expansion of our capabilities into California’s promising and growing marketplace, while offering our complete suite of settlement services to California realtors, lenders, property owners, developers and investors.”

In addition to Diversified Title Insurance Company, the three other companies from Diversified Holding Corporation that have been acquired by TransUnion are Diversified Title & Escrow Services Company, a licensed, underwritten title company providing title and escrow services through an extensive branch network in Southern California; Diversified Exchange Corporation, a provider of tax-deferred, like-kind exchange and cash holdback escrow services to individual, corporate and institutional taxpayers; and Diversified Reverse Exchange Corporation, a provider of reverse 1031 exchanges.

“Diversified’s strong leadership team and employee base gives us a strong foundation to aggressively expand our presence throughout California,” said Lynch. “Their employees are among the most knowledgeable and experienced of any title and escrow company in the region. Their superior commitment is supported by a culture that promotes superb customer service, business integrity and company-wide financial responsibility.”

TransUnion’s entrance into the California market is an indicator that consolidation in the state’s title and escrow business is being deterred, a positive development for the State’s consumers. “There’s no mistaking the excitement and opportunity that comes from a company like TransUnion acquiring our capabilities,” said Joe McCabe, president of Diversified Title Insurance Company. “We can now pursue growth and expansion strategies that will allow us to compete more effectively in larger markets throughout California and nationally.”