Situs, a provider of strategic business and technology solutions to the real estate industry, announced Wednesday that the company completed its acquisition of MountainView Financial Solutions.
The deal was first announced earlier this month.
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.
Under the terms of the deal, MountainView’s team will now work with Situs to deliver a “wide array of risk management and transaction services, and build on the company’s foundation of valuation and regulatory advisory services,” the companies said in a release.
Steve Powel, CEO of Situs, said the company is “pleased” to welcome MountainView into the fold.
“Alongside The Collingwood Group acquisition, this transaction represents a further step into the world of residential financial services and realizing our goal of being a full-spectrum service provider,” Powel said. “Situs’ advisory practice, consulting services, analytics and research combined with MountainView’s expertise in modeling and analytics, will provide our clients with a one-stop shop for asset risk management solutions that is unique in the market.”
MountainView CEO Michael Morgan added that he believes that the acquisition will help MountainView grow.
“With Situs as its parent and strategic partner, MountainView will be able to expand its current capabilities and offer clients a stronger, more dynamic analytics framework,” Morgan said. “As we embark on this exciting partnership, we anticipate bringing new opportunities to our existing clients and diversifying into additional markets.”
Financial terms of the deal were not disclosed.