Mortgage Industry Advisory Corp. (MIAC), a provider of software solutions to the mortgage industry, has announced the acquisition of Mortgage Delivery Specialists (MDS), a provider of mortgage loan analysis and agency securitization delivery services.
Terms of the deal were not disclosed. MIAC reports that it plans to keep the existing MDS team intact – however, it will now operate under the name ‘Mortgage Delivery Specialists, a MIAC company.’ MDS will continue to operate in its SSAE16-audited facility in Pewaukee, Wis.
In a release, Paul Van Valkenburg, principal of MIAC, says there are ‘many natural synergies’ between the two companies. He says MDS' supplementary loan performance data analysis will support MIAC's borrower analytics team.
Kent Loehrke, former principal of MDS and now a managing director with MIAC, says MDS' existing customers ‘will greatly benefit from the additional products that we can now offer them through MIAC.’
"We will be incorporating MIAC's technology, such as DataRaptor, into our existing process, which will enhance our current offerings," he adds.
Bob Husted, also a principal at MIAC, says the ‘expertise contributed by MDS will significantly enhance the mortgage servicing and whole loan valuations that MIAC provides currently for over 300 customers.’
‘The commitment formed from this relationship will ultimately provide tremendous added value to MIAC and MDS clients,’ he adds.