Blend Labs Inc. is officially exiting the title business with the sale of its Title365 subsidiary to Covius Services, the companies announced on Monday.

Blend acquired Title365 from Mr. Cooper for $422 million in 2021. While it’s stepping away from title operations, Blend will continue to use the platform for title and closing services. The Title365 team, including president Kirby Hulbert, will join Covius’s settlement services division.

The companies signed a definitive agreement, subject to third-party consents and regulatory approvals. Financial terms were not disclosed.

Rob Clements, chairman and CEO of Covius, said the acquisition details ⇒

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