Dolan Co. of Minneapolis, which operates business publications and business outsourcing services, is selling two units of its National Default Exchange (NDeX) mortgage default processing business for $17.5 million.
One unit, NDeX South, was sold Monday to three law firms: Barrett Daffin Frappier Turner & Engel and Barrett Daffin Frappier Levine & Block of Addison, Tex., and Barrett Daffin Frappier Treder & Weiss of Diamond Bar, Calif.
The sale of another unit, NDeX Indiana, to law firm Feiwell & Hannoy of Indianapolis, Ind., is pending, Dolan said. The individual purchase prices of the two units weren't disclosed.
Dolan said it was restructuring and moving away from offering a broad range of back-office services to mortgage default law firms.
Steve Alexander • 612-673-4553
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