Computershare, an Australian tech company that made waves in the mortgage space in 2011 when it acquired Specialized Loan Servicing for $113.6 million, announced Thursday that it signed an agreement to acquire Altavera Mortgage Services, a provider of independent, third-party mortgage origination services to residential mortgage lenders.
Altavera’s U.S.-based mortgage operations staff provides a “full suite” of services including loan set-up, processing, underwriting, closing, funding and quality control for all product types, including non-QM, jumbo and conventional loans, the companies said in a release.
According to the companies, Altavera will remain an independent entity as part of Computershare Mortgage Services, but Computershare views the acquisition to be a “strategic component” of Computershare’s expanding global mortgage industry, which includes Specialized Loan Servicing, as well as HomeLoan Management in the United Kingdom.
Brian Simons, founder of Altavera, will continue in his role as president, the companies said. Debora Aydelotte will continue in her role as chief operating officer, and Penny Nelson will both continue to serve as senior vice president of mortgage operations.
According to the release, both companies are “working collaboratively together” to bring “enhanced” services to their clients, partners and the mortgage industry.
Financial terms of the deal were not disclosed and the deal is expected to close in April 2016.