Homeland Security Capital Corp., Arlington, Va., has made its second acquisition in the mortgage and settlement services space by buying Timios Inc., a nationwide provider of title and escrow services for $1.15 million, plus contingency payments of up to $1.35 million over the next 12 months.
Three weeks ago, Homeland Security Capital bought Default Servicing LLC, which provides REO owners such functions as property inspection, valuation, eviction, broker assignments, closing and other residential property services.
Timios, of Westlake Village, Calif., provides title and escrow services for refinance, reverse mortgage, REO and deed-in-lieu transactions. It operates in 40 states, with offices in Plano, Texas plus satellite offices in four other states. Its immediate parent will be a new Homeland Security Capital subsidiary, Fiducia Real Estate Solutions Inc., which is also the parent of Default Servicing.
Homeland Security Capital, as its name implies, had previously specialized in acquiring homeland security-related businesses. Its chairman and CEO, C. Thomas McMillen, is a former Congressman and pro basketball player.
