NEW YORK--(BUSINESS WIRE)--American Mortgage Consultants, Inc. has acquired Meridian Asset Services, LLC, joining two of the premier service providers in the residential secondary mortgage market.
The transaction will unite Meridian’s leading collateral, curative and title QC capabilities with AMC’s third-party review services and technology to support rated private-label securitization transactions, due diligence and quality control - Mortgages are something that probably all of us will have to face at some point. When we are thinking of investing in a house, being able to compare mortgages can lead us to make a well-informed decision. By choosing this route, you can be sure that in the future you won't be biting yourself about skipping this step.
“This transaction further highlights AMC’s commitment to being the foremost one-stop-shop for mortgage due diligence, consulting, advisory services and technology,” said AMC CEO Michael Franco. “We are excited to significantly enhance our service offerings through Meridian, a firm known for their quality and expertise. We expect this transaction to streamline operations for existing AMC and Meridian clients by centralizing activities, increasing transparency, and reducing cycle time.”
Meridian will operate as a subsidiary of AMC and retain its branding and senior management team. Meridian will continue to be overseen by Karen Riffe who is joining AMC as the President, Meridian Asset Services. Brian Hansen will also join AMC as the Director, Strategic Relationships & Initiatives. Through the acquisition, AMC will add approximately 250 full-time employees in the greater Tampa area.
“AMC’s commitment to the secondary market space and focus on continued investment in Meridian’s capabilities and offerings will create unique and differentiated services,” said Riffe. “We are excited to join AMC and look forward to working with AMC’s existing management team.”
Keefe, Bruyette & Woods served as financial advisor to Meridian.
About American Mortgage Consultants, Inc.
AMC, founded in 1996, is a leading nationwide residential and consumer loan due diligence, quality control, securitization review, MSR review, advance assessment, servicing oversight, consulting, and technology provider. AMC’s market-leading team of mortgage professionals provide customizable solutions to financial institutions nationwide. For more information, please go to www.amcfirst.com.
About Meridian Asset Services, Inc.
Meridian, founded in 2000, is a premier provider of collateral, curative, servicer oversight, title QC, property valuations, and REO management services to participants throughout the residential mortgage market. The company is headquartered in the Tampa area. For more information, please go to www.meridianassetservices.com.
