American Mortgage Consultants acquired a business unit from Stewart Lender Services that’s responsible for residential due diligence and servicing functions at the end of last year. And this is only the beginning of future growth for the company, explained AMC CEO Michael Franco.
“The acquisition is part of a broader expansion plan for AMC during 2017 to offer additional services, technology solutions, and market leading capacity to its clients,” he said.
The business unit includes credit, compliance, origination and servicing quality control reviews, as well as the due diligence and quality control-related technologies.
As a result of the acquisition, Stewart’s employees will be transitioned to AMC and will continue to work from existing Denver and Farmington Hills, Michigan, offices.
AMC’s corporate headquarters will stay in New York City, and the main production facility will remain in Tampa, Florida.
“The acquisition will expand our service offerings in the agency quality control and servicing quality control areas and allow AMC to offer a broader set of services to existing and new clients including software-as-a-service offerings,” said Franco.
“In addition, we will be expanding our existing due diligence capacity with the significant increase to our existing Denver footprint and adding a new underwriting center in Farmington Hills, Michigan,” said Franco.
Furthermore, AMC hired Nick Volpe to lead AMC’s quality control efforts and named him senior vice president of Quality Control Services.
Prior to this, Volpe served as vice president of Fulfillment Solutions for First American Title Insurance Company.
“Nick has a deep understanding of the origination and servicing quality control space and we are happy to have him aboard to lead our efforts in this area,” Franco said. “We believe teaming AMC’s market leading technology solutions and underwriting capabilities with Nick’s leadership and the high-quality staff transitioning to AMC will be a winning combination.”