Situs, a premier provider of strategic business and technology solutions to the real estate industry, announced late in the week that it plans to acquire MountainView Financial Solutions.
Denver-based MountainView provides financial model validations; asset valuations for residential whole loans, consumer loans, residential mortgage servicing rights and asset-backed securities; MSR hedge advisory; core deposit analyses; stress testing; and asset sale transaction advisory.
Financial terms of the deal were not disclosed.
“MountainView is the premier valuation and brokerage platform for mortgage servicing rights, hard-to-value securities and whole loans, and has a well-earned reputation as an elite provider of risk management analytics for financial institutions,” Steve Powel, CEO of Situs, said in a statement.
“Together with our 2017 acquisition of The Collingwood Group, the MountainView transaction expands our set of capabilities and positions Situs as the trusted advisor of choice within the continually evolving housing finance market, and puts Situs at the nexus of real estate and fintech,” Powel added.
Upon completion of the deal, MountainView’s team will work with Situs to deliver a spectrum of risk management and transaction services, and build on the company’s foundation of valuation and regulatory advisory services.
“MountainView’s breadth of services is a natural extension of Situs' existing analytics offerings,” MountainView CEO Michael Morgan said. “As a part of the Situs family, MountainView will be able to leverage Situs’ existing tools, resources, data and partnerships to further develop our combined analytics framework, enhance our models and extend our offerings into new asset classes and to more clients.”
The companies expect the deal to close by the end of the month.