Clearwater, Fla.-based Newbold Advisors, a consultancy serving the mortgage industry, has announced its strategic acquisition of Summit Point Group and key additions to its management staff. Newbold says the moves are part of the firm's expansion plan within the mortgage technology and originations solutions marketplace.
Summit Point Group, a strategic management and technology consultancy based in Fairfax, Va., is focused primarily on technology strategies for the mortgage industry, with expertise in business process and business rules management systems. As part of the acquisition, David Coleman, Summit Point's president, will become Newbold's managing director of technology solutions.
Growing its footprint into originations consulting, call center optimization and litigation support, Newbold has also hired additional managing directors: Michael Wade will run the company's originations operations practice, Sally Bartholmey will lead the litigation support practice, and Patrick Drimmer will run Newbold's call center and BPO practice.