TPG Rolls Tech, Service Brands into DataQuick By Austin Kilgore

Real Estate Agent with Starlight Realty Certified REO & Short Sale Specialist

The primary units that private equity group TPG Capital acquired from MacDonald, Dettwiler and Associates will be grouped together and run under the brand name DataQuick.

The units formerly known as MDA Lending Solutions, MDA DataQuick and MDA MindBox will integrate into one entity, with former MDA DataQuick president John Walsh leading a concentrated management team as president of the new DataQuick.

"It's actually something that customers and other people have noted should have happened for a long time," Walsh said in an interview with National Mortgage News.

Lending Solutions provides settlement services to the mortgage origination space, DataQuick is a property data and analytics provider and MindBox is a decisioning engine software. The new company structure will allow DataQuick to provide customers with customized technology and nationwide services and data drawn from the three former units' specialties.

Those products will also be enhanced with TPG's other MDA acquisitions-insurance information and valuation provider Marshall & Swift/Boeckh and U.K.-based electronic property conveyance data provider SearchFlow.

An example of DataQuick's collaborative focus involved a top five lender needing to verify flood insurance on a new servicing portfolio.

"We took a combination of our flood business, our search capabilities, the Marshall, Swift and Boeckh replacement costs, the DataQuick data and the Mindbox decision engine and provided a custom solution for this customer that essentially allowed them to review each and every product, how much flood insurance should be on each product and it was produced in an automated fashion that saved them a lot of money," Walsh said.

The $850 million TPG acquisition was announced in November and closed in January.

Since the deal closed, Walsh said he's noticed a dramatic change in culture. "TPG, these are the smartest guys I've ever met. We've got a board that's comprised of three TPG partners and three industry outsiders," he said. "The combination of both of those, I have just been incredibly impressed with their understanding of the business-business in general and our business specifically."

The board members oversee a holding company called Decision Insight that was established for the new DataQuick, Marshall & Swift/Boeckh and SearchFlow. Walsh declined to name the new board members, pending a future TPG Capital announcement.

As previously announced when the acquisition closed, Chris Cartwright, the former division CEO of Wolters Kluwer Legal, Tax & Business and CCH Legal Information Services, joined to serve as CEO of Decision Insight.

Mike Dealy, the former president of MDA Lending Solutions, has assumed a role within Decision Insight to head up special projects.

Walsh said it's the combination of both the reorganization and capital infusion from TPG that will help the company grow.

"What was MDA Lending Solutions and what has been DataQuick historically, both companies have been very good at over the past few years is understanding what the customer wants and providing them with a solution that meets their needs as opposed to a solution out of the box," Walsh said.

"We compete on the data side with data file licenses on a regular basis. We win more than our share of those largely because we go to the trouble of really understanding what it is the customer is trying to accomplish with the data, how they are going to ingest that data and doing it in a fashion that gets them into business quicker and more easily, as opposed to saying here's our data offering, buy it or don't buy it."

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