Stone Point Capital, a private equity firm that also owns a piece of Ten-X, is buying a majority stake in American Mortgage Consultants, a provider of outsourced services to participants in the residential and consumer loan mortgage market.
Technically, “funds managed by Stone Point” acquired the majority stake in AMC, which provides due diligence, quality control, securitization review, mortgage servicing rights review, advance assessment, servicing oversight, technology, and consulting services.
Back in early 2017, AMC acquired a business unit from Stewart Lender Services that focuses on credit, compliance, origination and servicing quality control reviews, as well as the due diligence and quality control-related technologies.
At the time, AMC CEO Michael Franco told HousingWire the company planned to continue its growth in the wake of the Stewart deal. Franco said this week that the Stone Point acquisition allows the company to accelerate that growth plan.
“We are excited to begin our partnership with Stone Point, which will enable the continued growth of the AMC platform to meet the demands of our clients,” Franco said.
“AMC’s commitment to enhancing the breadth, depth, and quality of our existing service and technology offerings will only be enhanced with the completion of this transaction,” Franco continued. “We look forward to expanding our role as a strategic partner for market participants throughout the mortgage loan lifecycle with innovative solutions to meet the demands of tomorrow’s markets.”
According to AMC, it currently services more than 200 active clients.
“We are thrilled to be partnering with Michael and the AMC team,” Chuck Davis, CEO of Stone Point, said.
“We have a long history of investing in the real estate technology and services sector and see significant growth opportunities for the company,” Davis added. “We look forward to working with the talented team at AMC to help support the company in its continued growth.”
Financial terms of the deal were not disclosed.