Chronos Solutions Acquires Commerce Title

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Strategic acquisition of settlement services firm supports Chronos Solutions' national growth initiative and expands its presence in the vital California title market

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It's Time for Chronos Solutions

Our ability to deliver multiple service offerings and scale to meet the needs of a business of any size are what have led to our success. The acquisition of Commerce Title will only strengthen the depth and breadth of our suite of services.

Chronos Solutions, a national real estate financial services provider, has acquired Commerce Title and Closing Services, LLC (Commerce Title) from parent company Ten-X, LLC (formerly Auction.com, LLC). The acquisition broadens Chronos Solutions’ title and settlement services offerings and significantly increases the company’s presence in California, one of the nation’s most dynamic title insurance markets.

According to Chronos Solutions CEO Matt Martin, the acquisition of Commerce Title expands Chronos’ ability to deliver title and settlement services on a wide scale, especially in California, where the group has an extremely strong presence. Its high-performance platform will be integrated into Chronos Solutions’ flexible technology suite as well.

“Commerce Title is fully licensed to perform title work throughout California, making it a natural fit for Chronos Solutions,” he said. “With this acquisition, we deepen the resources we can offer to our clients, as well as becoming even more flexible to our clients’ needs. Commerce Title’s historical emphasis on client service, innovation and flexibility align perfectly with the Chronos strategy and business model, and we believe our customers will appreciate the additional resources we will now be able to make available to them on the title and settlement services side of the transaction.”

This marks the third acquisition for Chronos Solutions since early 2015. In January 2015, the firm acquired Realtybid.com, a leading online real estate auction marketplace. In December 2015, Chronos Solutions announced the acquisition of Cogent Road, a credit, verification and origination technology-based business. Martin notes that Realtybid.com has already grown and thrived under Chronos’ ownership. “Our acquisitions are carefully selected to complement our unique approach to real estate finance services,” he said. “Our ability to deliver multiple service offerings and scale to meet the needs of a business of any size are what have led to our success. The acquisition of Commerce Title will only strengthen the depth and breadth of our suite of services.”

About Chronos Solutions
Coppell, Texas-based Chronos Solutions is a national technology enabled real estate finance services provider delivering elite mortgage and real estate services across the industry. Chronos offers customized transactional and business process management services to private sector and government clients, and its clients include federal agencies, top-five national lenders, leading mortgage servicers, real estate investment firms and more. The firm is a proven leader in title and settlement services; valuations; tailored credit and verification services; HOA solutions; accelerated asset liquidation and marketing; REO asset management and disposition; field services; asset acquisition and investor services and innovative technology applications and systems. Chronos Solutions prides itself on offering the deepest resources and widest networks to provide optimal capacity for even the largest clients; while providing service levels similar to that of a boutique firm. Clients assert that the company’s creativity and flexibility make them stand out among national real estate service companies.

Chronos Solutions manages a wide network of vendors and service providers. The company also has strategic hubs located in Virginia, Texas, California, Alabama and Pennsylvania. The firm is led by a seasoned and diverse management team, each possessing extensive experience with leading financial institutions and real estate management firms.

About Ten-X
Ten-X (formerly Auction.com) is the nation’s leading online real estate marketplace, having sold 200,000+ residential and commercial properties totaling more than $37 billion since 2007. Leveraging desktop and mobile technology, Ten-X allows people to safely and easily complete real estate transactions entirely online.

Ten-X empowers consumers, investors and real estate professionals with unprecedented levels of flexibility, control and simplicity – and the convenience of buying and selling properties whenever they want and from wherever they are. As real estate continues to move online, Ten-X is uniquely positioned to be at the forefront of this dramatic behavioral shift.
Ten-X is headquartered in Irvine and Silicon Valley, Calif., and has offices in key markets nationwide. Investors in the company include Google Capital and Stone Point Capital. For more information, visit Ten-X.com.

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Darcy Patch
@ChronosRE
since: 10/2015
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