First American Completes Acquisition of RedVision
Purchase creates the leading full-service provider of title evidence to the marketplace
September 21, 2016, Santa Ana, Calif.
First American Financial Corporation (NYSE: FAF), a leading global provider of title insurance, settlement services and risk solutions for real estate transactions, today announced the completion of its acquisition of RedVision Systems, Inc., the largest independent national provider of title and real property research. RedVision, which is based in New Jersey and is now part of First American’s Data and Mortgage Solutions division, offers title evidence solutions, including data, technology and managed services focused on the procurement and processing of title information. The company is recognized throughout the industry for its innovative, proprietary technology, which includes its production platform, TitleVision2, and Nova®, which offers a customizable and scalable solution for title research and production.
"It’s exciting to officially welcome RedVision to the First American family of companies. By connecting First American’s industry-leading title and property data and recorded documents with RedVision’s nationwide technology platform and services, we’re strengthening First American’s ability to deliver superior quality, coverage and operational flexibility to our customers," said George Livermore, executive vice president of First American’s Data and Mortgage Solutions division. “This move will also allow First American’s Data Trace group to leverage RedVision’s real property data to quickly and efficiently build additional digital title plants. RedVision’s innovative workflow and national professional services teams will now have access to Data Trace’s information, allowing RedVision to expand its product offerings and enhance its service levels.”
RedVision, as part of First American’s Data and Mortgage Solutions division, is operating as a business unit under its current brand and management team, with CEO Brian Twibell continuing to lead the business.
About First American
First American Financial Corporation (NYSE: FAF) is a leading provider of title insurance, settlement services and risk solutions for real estate transactions that traces its heritage back to 1889. First American also provides title plant management services; title and other real property records and images; valuation products and services; home warranty products; property and casualty insurance; and banking, trust and investment advisory services. With revenues of $5.2 billion in 2015, the company offers its products and services directly and through its agents throughout the United States and abroad. In 2016, First American was recognized by Fortune® magazine as one of the 100 best companies to work for in America. More information about the company can be found at www.firstam.com.
As a leading national provider of title and real property research, RedVision® applies data, technology and managed service solutions to transform the procurement and processing of title information. In 2015 the company introduced its proprietary NOVA® technology and cascade of best-practice standardized Redi® products – SearchRedi®, ExamRedi®, CurativeRedi® and ClearingRedi® – to empower customers with transaction cost savings, SLA attainment, compliance and risk management. Since 2006, RedVision has delivered more than 7.5 million title reports to 1,600+ client organizations, including financial institutions, title underwriters, settlement service providers, national agents, local agents, lenders, attorneys and foreclosure/default processing firms. RedVision has been designated an American Land Title Association (ALTA) Elite Provider, successfully examined against SOC 2 standards, named on HousingWire’s TECH100™ and listed repeatedly as one of the fastest-growing companies by Inc. For more information, please visit www.redvision.com.