New Acquisition Broadens SitusAMC’s Capabilities For Mortgage Originators
SitusAMC Holdings Corp. (“SitusAMC”), a provider of technology and services to the real estate finance industry, is making headlines again with the acquition of Assimilate Solutions, LLC (“Assimilate”), a provider of mortgage and title knowledge process outsourcing and information technology outsourcing solutions. The acquisition continues SitusAMC’s recent expansion of its offering for residential mortgage originators and further expands SitusAMC’s footprint throughout India. The Assimilate management team will be retained by SitusAMC.
Founded in 2012, Assimilate serves the U.S. residential mortgage industry, leveraging deep mortgage experience, a robust service offering, and innovative data and technology solutions to help participants realize cost and operational efficiencies. The firm’s service offering includes loan origination, closing and post-closing, loan servicing, secondary market activity, and title and settlement support. Assimilate’s technology offering includes product development, data intelligence and analytics, integration management, test engineering, application development and digital acceleration. Assimilate’s offerings have supported a wide range of U.S. mortgage companies across retail, wholesale/TPO, correspondent, and consumer direct channels in realizing cost savings of more than 40 percent.
“We are excited to gain not only the deep mortgage domain services professionals from Assimilate but also to add a strong bench of information technology outsourcing solutions for our clients, so we can help them implement transformative solutions for their business, including those technologies offered by SitusAMC,” stated SitusAMC CEO Michael Franco. “This acquisition provides us with an optimized business model leveraging a combination of onshore and offshore staff that can support our clients’ licensed and non-licensed activity needs in a nimble, technology-enabled environment, which will drive better outcomes for everyone we serve.”
Amit Gujral, co-founder and CEO of Assimilate added, “We are thrilled to join SitusAMC and contribute to the vision of transforming the real estate finance industry through innovative technology and best-in-class domain centric business services.”
With the acquisition of Assimilate, SitusAMC builds upon the recent expansion of the firm’s residential origination offerings, including the launch of the firm’s SAFE Act licensed loan processing and fulfillment service, and the acquisitions of ComplianceEase and ReadyPrice. In 2021, SitusAMC will begin to offer integrated solutions for brokers and lenders utilizing ReadyPrice seeking to outsource component services, processing, or the end-to-end fulfillment process to SitusAMC.
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