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Dolan Media to get National Default Exchange stake

Fri, 02/19/2010 - 12:30pm
The Associated Press

Dolan Media Co. said Friday that it is acquiring a 1.7 percent stake in National Default Exchange, bringing its total stake in the mortgage default processing service company to 93.8 percent.

Dolan is acquiring the stake from National Default Exchange's Indianapolis-based law firm client, Feiwell & Hannoy PC, and said it will go through as a redemption by the National Default Exchange. Dolan expects the transaction to be completed by the end of February.

National Default Exchange is part of Dolan's professional services unit.

Dolan said that Feiwell & Hannoy will still be a National Default Exchange client after the acquisition; the companies have a services contract through at least 2022.

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