First American Buys Default Processor
- Share via
First American Financial Corp. has acquired a Texas-based operation that helps mortgage lenders nationwide process loan defaults by their borrowers.
The unit, previously owned by Dallas-based law firm Barrett Burke Wilson Castle Daffin & Frappier, is one of the largest default-processing operations in the country, handling about 40% of all loan defaults experienced by large mortgage bankers, First American said. The operation has offices in 18 cities.
Terms of the purchase were not disclosed.
Officials at Santa Ana-based First American said the unit will complement its other services targeted at the mortgage industry.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
