Unisource Joint Ventures, the parent company of Unisource National Lender Services, has acquired MFI Data, a subsidiary of Starrex International (STX.CN) that provides credit reports to mortgage lenders.
According to the companies, the acquisition will enable Unisource to combine MFI’s credit reporting services with the title and escrow services of Unisource National Lender Services. The company, with its latest acquisition, will rebrand as Unisource Credit while Michael Cohan, currently CEO of Unisource, will remain as chief executive of the combined entity.
The financial terms of the acquisition were not disclosed.
“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,” said Cohan. “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.”
Photo: Michael Cohan
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