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FIRST AMERICAN
COMPLETES
ACQUISITION OF
SERVICEMAC
First American Financial Corporation has
announced the completion of First American's
acquisition of ServiceMac LLC, a mortgage
subservicing company. Founded in 2017,
ServiceMac offers clients innovative, data-
driven technology, and delivers quality results
and immediate loan-level transparency to their
accounts.
"We are pleased to welcome ServiceMac
to the First American family," said Dennis J.
Gilmore, CEO of First American Financial.
"ServiceMac's rapid growth, innovative
technology, and business leadership align well
with our ongoing commitment to support the
mortgage industry and further expand our
product innovation efforts."
ServiceMac's mortgage subservicing
business complements First American's existing
capabilities and will enhance First American's
ability to provide lenders and servicers with
end-to-end mortgage, settlement, post-closing
services and servicing-related products and
solutions. ServiceMac will have enhanced
access to First American's property and
homeownership data, and mortgage solutions
products, further advancing the company's
ability to add value to its existing services and
develop new products and services.
ServiceMac's management team, including
President and CEO Bob Caruso, will continue
to lead the company, which will now operate as
a wholly owned subsidiary of First American.
"Joining First American further enhances
our position as a counterparty in the mortgage
finance ecosystem and allows us to work
together to develop new products and services
to support our industry," said Caruso. "Equally
important, our employees will benefit from
becoming part of a company named to the
Fortune 100 Best Companies to Work For list
six years in a row."
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