"Covius will acquire the full Title365 team, which Chappell says is a strong cultural and operational fit. There's no substitute for great people, and there's a great team we're picking up at Title365. A lot of them have worked for me in the past, he said. A key focus of the Title365 integration is home equity, which Chappell described as an extremely prominent product line. With mortgage rates still high, demand for home equity lines of credit (HELOCs) has surged."
"Focusing on the borrower experience is critical to HELOCs and home equity. The problems with a lot of HELOCs, depending on the vendor, depending on whether it's a lender or credit union, is that digital adoption is very low, he added. Chappell said that Covius plans to consolidate overlapping offices both companies have facilities in Dallas and will gain several new state licenses through the acquisition. The company operates on a hybrid work model with production centers in Madison Heights, Michigan; Kansas City; and Pittsburgh."
Covius will acquire the full Title365 team as a 100% growth play to strengthen origination presence. Title spans origination, servicing, and capital markets, and the acquisition adds cultural and operational alignment with experienced staff. Integration will prioritize home equity products, especially HELOCs, amid surged demand from high mortgage rates and generally low digital adoption for many HELOC offerings. Covius plans to consolidate overlapping offices, gain several new state licenses, and maintain a hybrid work model with production centers in Madison Heights, Kansas City, and Pittsburgh. The deal continues expansion under co-CEOs Rob Clements and John Surface following prior acquisitions.
Read at www.housingwire.com
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