America’s Finance (FOA) indirect assistant in the center is selling its title insurance business, according to an announcement made on Thursday.
Thank you for reading this post, don't forget to subscribe!entered into an agreement with a wholly owned subsidiary of Saar Group Limited to sell the issued and outstanding shares of Agent National Title Holding Company (antique) and issues and excellent membership interest Boston National Holding LLC (BNT) — as well as direct subsidiaries of ANTIC and BNT — for a price of $100 million, according to its filing. US Securities and Exchange Commission (SEC).
“FOA’s strategic direction and long-term growth initiatives are focused on providing an innovative suite of solutions to help Americans achieve their retirement goals through the use of their home equity,” the firm wrote in a statement. ”
“This change includes the decision to cease operations of our forward mortgage origination segment and to expand on this vision through our announcement to acquire the assets of AAG. Today’s transaction is part of our continued execution of this strategy.” Backed by some of the most powerful macro themes in the industry.
America’s Finance closed its advance mortgage origination unit, American Mortgage LLC’s Financein 2022, following its decision to exit the wholesale channel and the collapse of the forward retail deal guaranteed rate In early October 2022.
Credit Suisse Securities (US) LLC, served as financial advisor to the FOA in the transaction. While all parties expect the sale to close, the transaction is still subject to regulatory approval.
