American Mortgage Consultants acquires Meridian Asset Services

American Mortgage Consultants, a due-diligence firm that caters to secondary market participants, has acquired Meridian Asset Services.

AMC said Meridian’s collateral, curative and title quality-control capabilities will enhance its third-party review and tech offerings that support private-label securitization transactions, due diligence and quality control.

Florida-based Meridian will continue to operate under its current management and branding as a subsidiary of AMC. Meridian Founder Karen Riffe will join AMC as president, Meridian Asset Services.

The merger is one of several AMC moves that have made headlines in the last year.

In September, the firm launched TechEssential, a subsidiary that offers a suite of technology solutions aimed at increasing the efficiency of transacting in the secondary mortgage market.

In July, AMC acquired Iowa-based The Barrent Group, expanding its footprint into the Midwest and enhancing its offerings with securitization underwriting for various loan types and the review of seasoned re-performing, non-performing and performing assets.

All of this comes after Stone Point Capital, a private equity firm that also owns a piece of Ten-X, bought a majority stake in AMC in April, saying it foresaw “significant growth opportunities for the company.”

AMC CEO Michael Franco said the acquisition of Meridian highlights AMC’s continued commitment to becoming a “one-stop-shop” for mortgage due diligence, consulting, advisory services and technology.

 “We are excited to significantly enhance our service offerings through Meridian, a firm known for their quality and expertise,” Franco said. “We expect this transaction to streamline operations for existing AMC and Meridian clients by centralizing activities, increasing transparency, and reducing cycle time.”

Article source: https://www.housingwire.com/articles/47901-american-mortgage-consultants-acquires-meridian-asset-services

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