Wednesday, July 06, 2011

WFG acquires Northpoint Escrow & Title

Williston Financial Group, LLC (“WFG”), Lake Oswego, Oregon, has acquired Northpoint Escrow & Title (“Northpoint”), an established, title, escrow and settlement services company serving Puget Sound, Snohomish, King and Pierce counties in Washington, including the Seattle and Tacoma metropolitan areas. WFG is the parent company of wholly-owned subsidiaries WFG National Title Insurance Company, WFG Lender Services and WFG Title Insurance Company, and is a national, full service provider of title insurance and real estate settlement services for lender, commercial and residential transactions. The Williston Financial Group family of title insurers is currently licensed and operating in 39 jurisdictions nationwide. The acquisition of Northpoint solidifies WFG’s geographic footprint within the greater Northwest.

WFG President and CEO Patrick Stone praised the acquisition, noting Northpoint’s strong presence in the greater Seattle region, including offices in Bellevue, Everett, Kirkland, Northgate (Seattle) and Puyallup.

“WFG has already established itself in the Northwest, and this transaction solidifies our presence and service capabilities in greater Seattle and Tacoma, regions which constitute over 50% of the Washington mortgage market.” he said. “We have aggressively established our presence in Washington and Oregon because they are markets which have at times been challenging for major mortgage lenders to access without strong partners present in those regions."

Stone said his company also plans to maintain its expansion nationwide, asserting that the market remains favorable for cost-effective acquisition.

"We are pleased with our reception so far in the national market, and remain convinced that now is an optimal time to reach out to customers disaffected by the industry’s internal focus of the past several years," he said.

Northpoint will be absorbed into the WFG National Title Insurance Company corporate brand shortly after the finalization of the transaction, said Stone.

2 comments:

Anonymous said...

What was the dollar amount of the acquisition?

Rick Grant said...

I'm trying to find out. No breath holding while I'm working on that, please.

Rick.