Strategic Mortgage Services Inc.: The firm, which...
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Strategic Mortgage Services Inc.: The firm, which provides services to mortgage lenders, said Tuesday it has acquired an Ohio company that compiles lending and geographic information.
Strategic Mortgage, based in Costa Mesa, sells title insurance and provides appraisal services and credit reports. Geotrac Inc., the company it is acquiring, tells mortgage lenders whether a property sits in a flood zone, thus requiring the prospective owner to purchase flood insurance. It also tracks compliance with the Home Mortgage Disclosure Act.
Terms of the deal, which was completed Friday, were not disclosed.
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