Solutionstar, a mortgage technology company in Lewisville, Texas, has agreed to acquire Title365, an insurance information provider in Newport Beach, Calif., for $36 million in cash.
The acquisition would allow Solutionstar to expand its purchase title services and diversify its revenue streams, the company said in a press release.
“Acquiring Title365 reflects our ongoing commitment to pursue technology-driven fee-based services companies that broaden our product offerings,” said Kal Raman, Solutionstars chief executive, in the release.
The transaction is expected to close in January.
Solutionstar is a subsidiary of Nationstar, the mortgage servicer that has recently come under scrutiny from the New York Department of Financial Services for its handling of mortgage modifications.
Title365 is a subsidiary of Experience 1, a title insurance and settlement services company.