Timios National Corp., a national provider of real estate services to banks, financial institutions and mortgage lenders, announced the company has executed a purchase agreement for the assets of Adobe Title LLC.
Adobe Title is a privately held title insurance and escrow company with 14 offices across Texas in the major metropolitan areas of Dallas/Fort Worth, Houston, Austin and San Antonio, servicing 23 counties.
C. Thomas McMillen, HOMS chairman and chief executive officer, stated, “This purchase represents a great opportunity to further diversify our business, and have a larger presence in the high growth market of the major metropolitan areas of Texas.”
Trevor Stoffer, HOMS chief operating officer and chief executive officer of Timios said, “We are excited to extend our newly developed technology offerings to the retail title insurance market in Texas, and enable the newest members of our team to grow within this highly attractive market.”
“We are looking forward to growing our law firm, but will miss our association with Adobe Title,” said Geoff and Hudson Henley, the current owners of Adobe Title. “We have great confidence in the management team of Timios to continue to grow the organization, and wish them the best in their success.”
The company consolidated the results of its fully owned subsidiary Fiducia Real Estate Services Inc., which owns 100 percent of Timios, Timios Appraisal Management Inc. and Default Servicing USA Inc. The assets of Adobe Title were acquired by Timios.
Timios is a company engaged in the strategic acquisition, development and consolidation of real estate service businesses. The company is focused on creating long-term value by developing its subsidiary companies through superior operations and management.