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Commenting on the acquisition, Stewart CEO Fred Eppinger said FNC’s “strength in reverse mortgage complements our existing lender services business lines and continues our momentum as we build a leading lender services organization.”
“As more and more homeowners are looking at home equity as viable retirement savings, the demand for reverse mortgages is increasing, and FNC has built one of the largest and best settlement service providers for reverse mortgages,” said Eppinger. “As in any real estate market, technology and innovation are key to success, and by leveraging Stewart’s products and platforms, FNC will be able to deliver security and ease-of-use to a growing market segment.”
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“Stewart has the same commitment to customer service that FNC has,” said Ali Farahpour, chief executive officer of FNC. “This commitment, coupled with Stewart’s immense resources and technology, will help position us to provide the prioritized service our lender partners expect and require. We take great pride in servicing borrowers looking for ways to tap into their home’s equity, including our nation’s senior citizens. By joining the Stewart family of companies, we enhance our capabilities to provide them with value-added products and services. We look forward to a bright future as part of the Stewart family and continuing to build relationships with our valuable clients and the borrowers they so diligently serve.”
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