The amount of the deal was not disclosed.
OSN will join Opendoor as a wholly-owned subsidiary. The acquisition allows Opendoor to integrate title, escrow and closings into its online buying and selling experience, and will enable the company to build a streamlined closing experience.
Additionally, OSN’s national presence will help the company reach more customers faster as it expands.
Opendoor will be joined by OSN’s 500 dedicated team members in offices across the country.
Led by CEO Charles Chacko, OS National provides residential and commercial title and settlement services to national lenders and banking institutions, REITs, private equity firms, mortgage servicers and institutional investors to facilitate real estate transactions and title insurance-related services.
Led by Eric Wu, co-founder and CEO, Opendoor provides people across the US with a solution to buy, sell or trade-in a home. The company recently announced the launch of its home loan business in Texas and Arizona, which allows home buyers in those states to secure a home loan directly from its Home Loans and in the app.
The company, which currently operates in 20 markets in the US, has over 1,300 employees with plans to launch into three new markets–Boise, Salt Lake City and St. Louis–by early 2020.
FinSMEs
06/09/2019