Newbold Advisors Announces Expansion Through Acquisition of Summit Point Group and Hiring of Managing Directors

CLEARWATER, Fla., Dec. 12, 2011 /PRNewswire/ -- Newbold Advisors, a 500-person consultancy serving the mortgage finance industry, announces a strategic acquisition of Summit Point Group and key additions to its management staff.  The moves are part of the firm's expansion plan within mortgage technology and originations solutions, as well outside of the mortgage industry.

The Summit Point Group, a strategic management and technology consultancy based in Fairfax, VA, was focused primarily on technology strategies for the mortgage industry, with special 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.

According to Coleman, "The marriage of Summit Point's business-oriented technology consulting practice to Newbold's competency in process improvement and operational controls represents perfect synergy for our clients, who are looking to reduce costs while improving process controls."

Expanding its reach into originations consulting, call center optimization and litigation support, Newbold has also hired 3 additional Managing Directors. "As our company grows, we are continually looking for experienced executives who provide strategic direction and tactical management for Newbold and our clients. In January, we hired David Dill as a Managing Director, and along with the four Newbold Partners, the added reach of these 4 individuals collectively allows us to penetrate new verticals and adds significant breadth to Newbold's suite of consulting services," said Partner Tim Gaven.

Newbold's Recent Managing Director Hires:

• Michael Wade will run Newbold's Originations Operations Practice.
• Sally Bartholmey will run Newbold's Litigation Support Practice.
• Patrick Drimmer will run Newbold's Call Center and BPO practice.
• David Coleman will run Newbold's Technology Solutions Practice

With approximately 500 consultants, Newbold Advisors serves the mortgage finance industry, including banks, residential and commercial mortgage bankers, GSEs, investment banks and private investors. Newbold offers experience-based advice through a team of seasoned management consultants, as well as managed teams of operational staff to provide clients with surge capacity and operational scale. Practice areas include mortgage originations, servicing and loss mitigation; technology solutions; project management; litigation support; accounting and financial management; risk management; interim management; and process improvements.

SOURCE Newbold Advisors