Stewart Title Co. Gets into the REO Business

July 11, 2011

Following its recent acquisition of PMH Financial, Stewart Title Co. will be expanding its services to include REOs and is asking for real estate professionals to join its new network.

Stewart Lender Services, a subsidiary of Stewart Title Co., acquired a majority interest in PMH Financial, an REO outsourcing and subservicing company which boasts an inventory of about $2.5 billion in real estate assets for banks, servicers, and hedge fund investors, HousingWire reports.

The acquisition will add REO services, short-sale management, and other services to the company's core business. Stewart Title Co. will manage more than 6,000 properties all across the country.

Jason Nadeau, Stewart Lender Services CEO, told HousingWire that the company is encouraging experienced REO brokers to register and apply on the company's Web site to join its new network.

Source: “Stewart Lending Expands into REO, Looking for Agents,” HousingWire (July 11, 2011)