First American Financial has signed a deal to acquire mortgage technology provider Docutech.
The firm said the acquisition not only enables it to grow its service offerings but also deepen its relationships with other industry players through Docutech’s third-party and proprietary loan-origination systems integration with over 175 lenders.
Docutech President and CEO Amy Brandt, along with the company’s management team, will continue to lead Docutech’s operations. First American expects to accrue earnings in 2020 from the acquisition, which will likely close by the end of March.
“The acquisition of Docutech reflects our steadfast commitment to invest in and grow our core business,” said First American Financial CEO Dennis Gilmore. “Moreover, it demonstrates our dedication to improving the home-buying experience for consumers and driving the digital transformation of the real estate settlement process. We’re excited to soon welcome to First American the people of Docutech, a highly respected leader in the document technology solutions industry. Together, we will accelerate the evolution of real estate closings.”
Since its founding in 1991, Docutech has used technology to equip lenders across the US with regulatory-compliant loan documents for mortgage and home equity lending.
“Joining the First American family strengthens our ability to provide products and services that help lenders offer a more digital mortgage experience and adapt to today’s changing business landscape,” Brandt said. “The Docutech team will now have enhanced access to First American’s industry-leading property data and its other industry-leading products and services, further enhancing the quality, accuracy, and speed of our services. Our employees will also benefit by being part of a company named to the Fortune 100 Best Companies to Work For list four years in a row.”