Just Four Months After One of the Largest Mergers in Homebuilding History, TRI Pointe Expands with Launch of “TRI Pointe Solutions”
TRI Pointe announced today the launch of TRI Pointe Solutions, made up of “TRI Pointe Connect” and “TRI Pointe Assurance,” a suite of home buyer services that will provide end-to-end support throughout the closing process. “TRI Pointe Connect,” formed as a joint venture with imortgage, will provide mortgage related services, while “TRI Pointe Assurance,” a wholly owned TRI Pointe company, will act as a title agency for First American Title Insurance Company.
TRI Pointe Solutions is launching just four months after TRI Pointe’s merger with the Weyerhaeuser Real Estate Company (WRECO), which operates as five distinct home building companies (Pardee Homes, Quadrant Homes, Winchester Homes, Trendmaker Homes and Maracay Homes) and its emergence as one of the top 10 home building companies by equity market capitalization in the United States. TRI Pointe Solutions is expected to enhance TRI Pointe’s earnings growth and benefit home buyers by offering a seamless buying and closing process.
TRI Pointe’s President and Chief Operating Officer Tom Mitchell explained that, “Following the merger with WRECO, we turned our attention to executing several key incremental income initiatives to capitalize on the company’s expanded operations. These new mortgage and title services are the beginning of the added value that we anticipate from our diversified platform.”
TRI Pointe Connect will be launched across all TRI Pointe brands by mid-2015, but will start with Quadrant Homes in the Puget Sound market, where a preferred lender relationship with imortgage has already been established. imortgage offers a broad product line including underwriting and closing services to support customers’ needs. The imortgage builder platform has produced the highest customer service scores of all lenders measured by Eliant in 2014.
“It has been an honor to work with Quadrant Homes and align our respective cultures to the benefit of homebuyers,” said Dean Bloxom, President of imortgage. “To expand the partnership across all six of TRI Pointe’s brands marks an exciting and momentous accomplishment for our companies, and our pledge to continue to provide excellent service to all our customers.”
TRI Pointe Assurance will first launch with Trendmaker Homes in Houston providing title services and will expand to several other markets in the near future. TRI Pointe Assurance will benefit TRI Pointe home buyers and stockholders by streamlining the closing process.
“As a national underwriter, First American is pleased to work with TRI Pointe because we share a common focus on delivering a positive closing experience to new home buyers,” said Joseph S. Tavarez, president of First American Title Insurance Company’s Homebuilder Services division.
About TRI Pointe
Headquartered in Irvine, California, TRI Pointe (NYSE:TPH) is one of the top 10 largest public homebuilders by equity market capitalization in the United States. The company designs, constructs and sells innovative single-family homes and condominiums through its portfolio of six quality brands, which include Maracay Homes of Arizona; Pardee Homes of California and Nevada; Quadrant Homes of Washington; Trendmaker Homes of Texas; TRI Pointe Homes of California and Colorado; and Winchester Homes of Washington, D.C. and Virginia. Additional information is available at www.tripointehomes.com.
Imortgage, a division of loanDepot LLC, is a leading private nonbank national retail mortgage lender based in Scottsdale, AZ. Established in 1999, imortgage operates 80+ local branch offices throughout the United States and is one of the fastest-growing, most well-respected retail lenders in the country today. imortgage delivers a service-driven, customer-focused home loan purchase experience which has earned the company the exclusive Eliant Certification for Customer Service Excellence. imortgage operates under NMLS# 174457. Learn more about imortgage at imortgage.com.
About First American Title Insurance Company
First American Title Insurance Company, the largest subsidiary of First American Financial Corporation (NYSE: FAF), traces its history to 1889. One of the largest title insurers in the nation, the company offers title services through its direct operations and an extensive network of agents throughout the United States and abroad. First American Title provides comprehensive title insurance coverage and professional services for real estate purchases, construction, refinances, and equity loans. For more information, visit www.firstam.com/title.
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