Covius Holdings Inc., a provider of technology-enabled solutions to the financial services industry, has acquired loan due diligence and credit risk management surveillance specialist Clayton Services LLC from Radian Group Inc.
Founded in 1989, Clayton has reviewed more than 17 million loans and currently monitors the performance of more than $2 trillion in loans, securities and mortgage servicing rights. Clayton clients include leading mortgage originators, securities issuers and investors, government lending agencies and warehouse lenders.
Clayton’s primary services include loan reviews for whole loan sales and private-label securitization, compliance and valuation reviews, loan-level and transaction surveillance, and non-performing asset review services for mortgage and asset backed securities.
Approximately 550 Clayton associates, primarily in the company’s Tampa and Denver locations, will be joining Covius, as will Clayton’s senior due diligence and surveillance management teams.
“Clayton will be a core business for Covius,” says Rob Clements, chairman and CEO of Covius Holdings. “We intend to invest the capital and resources to grow Clayton’s market share and build the technology required by the increasingly digital processes of the origination and secondary markets.”