Press
Veri-Tax Completes Acquisition of Verification Bureau
Purchase in December 2011 of former LPS subsidiary increases Veri-Tax’s product offerings, making it the largest independent provider of borrower verifications in the mortgage industry
IRVINE, Calif. — October 23, 2012 — Veri-Tax, LLC announced today that it has completed its acquisition of Miami-based Verification Bureau from Lender Processing Services, Inc. (LPS), which had provided technical and other support to Veri-Tax after the December 2011 purchase. The Verification Bureau acquisition solidifies Veri-Tax as the largest independent provider of income and identity verification products for banks, mortgage lenders and other issuers of consumer credit. Verification Bureau, a leading verification and fraud detection service provider for loan originators, underwriters, loan processors and financial institutions, will continue to operate as an independent entity through its offices in Miami, Florida.
In addition to Veri-Tax’s existing solutions, such as IRS tax transcript processing, identity verifications and mortgage fraud reports, the company now provides asset and collateral verification services provided by Verification Bureau. Lender Processing Services and Veri-Tax have also signed a preferred partner relationship agreement for the joint sales, marketing, and support of the verification services currently provided by Verification Bureau.
“In acquiring Verification Bureau, we saw the opportunity to provide lenders with a breadth of verification products and a level of service that were not previously available in the financial services industry,” said Michael Chon, president of Veri-Tax. “Like Veri-Tax, Verification Bureau places the kind of focus on customer service as well as cutting-edge technology and data security that is required by today’s lenders. The acquisition significantly expands our capabilities, both in terms of geographic presence on both coasts as well as outstanding order processing and customer support resources. In an environment that remains challenging for many lenders, our clients deserve no less.”
For additional information regarding the acquisition, Verification Bureau customers may contact Giselle Leal, Verification Bureau’s Senior Director of Client Services, at Giselle.leal@verificationbureau.com.
About Veri-Tax LLC
Founded in 1998, Veri-Tax, LLC provides a full array of tax verification and fraud management products to the mortgage lending and consumer credit industries, helping financial institutions more quickly and securely verify borrower income and identity. Veri-Tax, along with its subsidiary, Verification Bureau, offers a full suite of fraud management products including income verification, identify (SSN) verification, bankruptcy reports, mortgage fraud reports and employment verification services. The company is based in Irvine, California. For more information, call 1-800-969-5100 or visit http://www.veri-tax.com/.