In another step in its quest  to build an end-to-end real estate marketplace that will outdo top real estate portals Zillow, Trulia and realtor.com, HomeSearch.com operator Solutionstar is set to acquire title insurance and settlement services provider Title365.

Eric Swenson

Eric Swenson

The $36 million cash deal is expected to close in January, and could amount to more if Title365 meets performance targets and key employees stay on board, Solutionstar said.

Eric Swenson, chairman of Title365, will continue to lead the Newport Beach, California-based company. Title365 has more than 400 employees.

Title365 counts residential real estate brokers, mortgage and financial institutions, asset managers and independent escrow agents as clients. The company’s platform allows all parties in a transaction to track orders from start to finish in real time.

Customers can also research millions of properties, pull good faith estimates of title and escrow fees, download recorded documents, print and share property detail reports, analyze sales comparables, and view order activity via a dashboard.

“We continue to believe in the power of technology to make buying and selling a home more transparent, convenient and affordable, and today’s announcement represents an important next step in Solutionstar’s growth as a premier real estate technology company,” said Jay Bray, CEO of Solutionstar’s parent company Nationstar, in a statement.

“Acquiring Title365 reflects our ongoing commitment to pursue technology-driven, fee-based-services companies that broaden our product offerings and position us as a real estate technology innovator and the preferred provider of real estate services to financial institutions, homeowners and real estate agents.”

Solutionstar intends to use the acquisition in part to expand its purchase title services into new markets, particularly in California. Title365 expects to generate about $63 million in revenue this year, of which about 57 percent is purchase money title business, Solutionstar said.

Solutionstar recently acquired tech firm Real Estate Digital with the aim of building up HomeSearch.com, Solutionstar’s online auction platform for bank-owned and short-sale properties into “a transactional marketplace for all things related to real estate” that will give the company “a customer for life.”

RED provides technology services to more than 500 multiple listing services, 350 brokerages, nearly 60 settlement services companies and more than 300,000 agents.

Kal Raman

Kal Raman

Earlier this month, Solutionstar announced it had hired Kal Raman, a former exec at tech heavyweights Groupon, eBay and Amazon, as its new CEO.

“When I was hired to take the helm at Solutionstar, we promised to continue to make significant, sustained investments in innovation and expand our products and services to elevate the company as a national leader in real estate technology,” Raman said in a statement.

“Acquiring RED was an important step in that evolution, and acquiring Title365 underscores Solutionstar’s commitment to leverage our technological expertise to deliver comprehensive, end-to-end online services for homebuyers, home sellers and real estate professionals.”

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×