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ORANGE COUNTY BRIEFLY

First American Completes Deal

May 14, 1997|(Dow Jones)

SANTA ANA — First American Financial Corp. said it has completed its acquisition of most of Irvine-based Strategic Mortgage Services Inc., which provides real estate information services to mortgage and title insurance industries. Financial terms of the deal weren't disclosed.

First American, which provides real estate-related financial and information services, said it has acquired Strategic Mortgage's credit division, property appraisal division, title division, settlement services business and a controlling interest in its mortgage document preparation firm. Santa Ana-based First American said Strategic, which will be absorbed into First American's operations, had revenue of about $80 million last year.

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