The Change Company Acquires Connect Escrow
Originally published in BusinessWire
April 28, 2021 09:00 AM EDT
IRVINE, Calif.--(BUSINESS WIRE)--The Change Company, America’s Community Development Financial Institution (CDFI), announced today it has acquired the woman-owned and operated real estate escrow services company Connect Escrow, Inc. (“Connect Escrow”).
Leanne Alva, Connect Escrow’s Chief Executive Officer, said, “We are excited to join The Change Company and become part of America’s CDFI. Connect Escrow is founded on principles of strong, sustainable, and inclusive relationships to ensure all Americans have an equal ability to buy and sell real estate. Our technology platform is highly scalable and enables us to serve clients in communities that for too long have been underserved by credible and reliable service providers. Our digital platform will accelerate Change’s ability to meet its mission to bank the unbanked, fairly and responsibly.”
Connect Escrow is a green company headquartered in Los Angeles and operating throughout California. Connect will continue to be managed by its existing team.
Jeff Seabold, co-founder of The Change Company, said, “We are thrilled to welcome Leanne Alva and her team at Connect Escrow to The Change Company. As we expand access to homeownership, it is critical that The Change Company is able to provide fair and responsible escrow services to its clients. Connect Escrow is known for its deep community roots and its commitment to ensuring all its clients are treated fairly and respectfully. The Change Company is excited to empower Leanne and her team at Connect Escrow.”
The Change Company maintains an investment grade credit rating and is a CDFI certified by the United States Department of the Treasury. In 2020, The Change Company and its affiliates originated over $7 billion in loans to approximately 30,000 borrowers. The Change Company and its affiliates provide lending, banking, appraisal management, escrow, and insurance services to the underbanked.
The Change Company was represented by the law firms Gaynor Law Group, P.C. and Michelman & Robinson, LLP on the transaction and Connect Escrow was represented by Relaw, APC.
About The Change Company
The Change Company empowers homeowners, small businesses, and consumers to pursue their American dreams by bringing social and racial equity to banking and lending. The Change Company team has built businesses that have lent American consumers and businesses over $50 billion dollars, served 250,000+ borrowers, and provided financial services, directly or through partnerships, to over 2 million Americans.
For more information: http://www.ChangeLLC.com/
About Connect Escrow
Connect Escrow is a woman-founded and operated company licensed by the California Department of Financial Protection & Innovation to provide escrow settlement services for real estate transactions. Connect Escrow is a green company that operates through its proprietary digital platform to serve the entire state of California from its headquarters in Los Angeles.
For more information: http://www.ConnectEscrow.com/
Contacts
Adam Levine, adam.levine@changellc.com
Blake Brooks, blake.brooks@changellc.com
