Conseco Finance Announces Plans to Form Settlement Services Company.Business Editors ST. PAUL St. Paul as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery , Minn.--(BUSINESS WIRE)--March 29, 2002 Conseco Finance Corp., one of the nation's largest diversified finance companies and a leading provider of loans to middle Americans, is forming a subsidiary to provide title-related products, appraisal and settlement services for its home equity, home improvement and manufactured housing Manufactured housing (also known as prefab housing) is a type of housing unit that is largely assembled in factories and then transported to sites of use. In the United States, the term "manufactured home" specifically refers to a house built entirely in a protected lending businesses. The new company, to be called Convergent Lending Services, will be located in the Pittsburgh area and is scheduled to begin operations in May of this year. It will employ up to 100 people by year-end, and plans call for 150-180 employees within two years. Pittsburgh-based ATM Corporation of America has been awarded a contract to develop and install the operating platform for the new firm. Commenting on the formation of Convergent, Chuck Cremens, Conseco Finance's president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said, "Conseco's mortgage-related businesses generate a tremendous amount of activity in the areas of appraisal, title, and settlement services. This venture will allow our company to share in the revenue stream from these activities while, at the same time, increasing uniformity and consistency of our processes." Albert Rudnickas, currently vice president at Conseco Finance, has been named president of the new company. Rudnickas stated, "Along with providing a new source of earnings for Conseco Finance, Convergent will enhance productivity by integrating an automated order entry capability into our loan origination The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. systems." Convergent Lending Services will initially be licensed as a title agent in 32 states, with plans to be in all 50 states. It will provide a wide range of services, from flood certifications and title reports to title insurance and closings. Conseco Finance Corp., with managed assets of $43 billion, is one of America's largest finance companies and a leader in the home equity, home improvement, manufactured housing and private label credit card businesses. Conseco Finance is a subsidiary of Conseco, Inc. (NYSE NYSE See: New York Stock Exchange :CNC (Computerized Numerical Control) See numerical control. CNC - Collaborative Networked Communication ), headquartered in suburban Indianapolis. To learn more about Conseco, visit www.conseco.com. ATM Corporation of America is the nation's leading provider of consulting and technology services to national mortgage lenders looking to develop settlement service subsidiaries. Additionally, ATM provides a full range of appraisal, title, flood and settlement services to lenders throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . ATM employs 300 full-time employees in Pittsburgh, Pennsylvania “Pittsburgh” redirects here. For the region, see Pittsburgh Metropolitan Area. Pittsburgh (pronounced IPA: /ˈpɪtsbɚg/) is the second largest city in the Commonwealth of Pennsylvania. and contracts with thousands of attorneys, appraisers and settlement services providers throughout the United States. |
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