Bank of America Sells Lien Release Business
December 8, 2017
First American Financial Corp. has announced that it will acquire Bank of America’s lien release business, which includes an agreement to provide these services to Bank of America.
The transaction is expected to close in the first quarter of 2018, and the bank’s lien business employees will become part of First American’s Mortgage Solutions division. The terms of the transaction were not made public.
“We’re excited to soon welcome the Bank of America lien release team to First American,” said Dennis J. Gilmore, Chief Executive Officer at First American. “The post-closing function is important in today’s mortgage lending environment, and this move will enhance the breadth of our post-closing products and services.”
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