CT&T Broadens Its Range of Services by Adding National Field Services Firm
CHICAGO, Feb. 12 /PRNewswire/ -- Chicago Title and Trust Co. (CT&T) today
announced that it has acquired the business of Universal Mortgage Services
Inc., an Ohio corporation with offices in Cleveland and Salt Lake City, which
provides property inspection, preservation and maintenance services
nationwide. The company will operate as Chicago Title Field Services Inc.
Today's announcement was made jointly by Marc Insul, executive vice
president, Universal Mortgage Services Inc., and John Rau, president and chief
executive officer, CT&T. The acquisition was effected through the purchase of
certain assets and the assumption of certain liabilities.
"Aspiring to set the standard in the field services industry, Chicago
Title Field Services has adopted the latest in advanced technology, including
electronic communications, scanning technology and its own copyrighted
inspection forms," said Rau. "This sophistication, together with our
experienced staff's attention to detail, allows us to provide the industry's
highest quality of property inspection, preservation and maintenance
services."
"In alignment with CT&T's strategy to build a successful real estate
services company of the 21st century, this most recent acquisition will allow
CT&T to bring a more comprehensive package of services to the lending
community," Rau said.
Insul commented: "We are extremely excited about becoming an integral part
of such an industry leader. The resources of CT&T will strengthen our ability
to meet the needs of our customers, improving their loan servicing and
providing enhanced technology to increase efficiency."
Universal Mortgage Services Inc. has earned a reputation for helping its
clients improve their ability to service loans by being prompt, accurate and
thorough, and having an unparalleled dedication to customer service. The
company's products will be sold directly and through CT&T's CastleLink(SM)
division. CastleLink was introduced in late 1997 to provide real estate-
related services to the regional and national lender community.
The Chicago Title and Trust Family of Companies is the source of real
estate services, providing title insurance, escrow and closing services, as
well as property valuation, credit information and flood compliance products
through a network of more than 300 offices and approximately 3,700 agents
nationwide. CT&T's title insurance subsidiaries -- including Chicago Title
Insurance Co., Ticor Title Insurance Co. and Security Union Title Insurance
Co. -- issue approximately one in every four title insurance policies in the
United States with annual gross revenues in excess of $1.3 billion. CT&T also
is the parent company of Chicago Title Flood Services Inc. of Arlington,
Texas; Chicago Title Credit Services Inc. of Kingston, N.Y.; and Chicago
Title-Market Intelligence Inc. of Hopkinton, Mass.
SOURCE Chicago Title & Trust Co.
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Related links:
http://www.ctt.com
CONTACT:
Stephen Flanagan of Chicago Title and Trust
Co., 312-223-2959; or Marc Insul of Chicago Title Field Services
Inc., 216-292-6282
CNOC: http://www.prnewswire.com or fax, 800-758-5804, ext.
117465
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