NEW YORK, June 28, 2019 /PRNewswire/ -- Situs Group Holdings Corp. (Situs) and American Mortgage Consultants, Inc. (AMC) today announced that they have closed the deal to merge the two firms. Situs and AMC are leading providers of consulting, outsourcing, talent and technology solutions for lenders and investors in the real estate industry.
"This is an exciting moment for not only Situs and AMC, but for the broader real estate industry," stated Steve Powel, Executive Chairman, SitusAMC. "Our unique ability to support our clients across both their commercial and residential debt and equity activities will create new opportunities to advance their agendas and transform their business through industry-leading services and innovative technologies."
Situs, founded in 1985, has a strong legacy as a strategic partner to institutional lenders and investors in commercial real estate markets, providing integrated solutions across the full life cycle of real estate debt & equity. Recent acquisitions including, MountianView Financial Solutions and The Collingwood Group, have expanded Situs' offering into residential real estate.
AMC, founded in 1996, has served as a leading provider of consulting and due diligence services and technology solutions to a broad spectrum of clients, including domestic and international banks, private equity investors, pension funds, secondary market guarantors, non-bank mortgage originators and servicers, and numerous other service providers to the residential real estate finance industry.
The combined business will rebrand as SitusAMC, forming the industry's most comprehensive services and technology offerings in support of both the commercial (CRE) and residential real estate (RRE) debt and equity life cycle. Together, Situs and AMC will have over $175 billion of commercial assets under management and provide fair value assessment on more than $290 billion of commercial real estate assets quarterly. On the residential side, the firm will cover approximately 60% of the secondary market private label securitization transactions. The combined firm will include over 3,300 professionals operating in 27 markets across the U.S., Europe and India.
Nick Rudenstine, Co-CEO of SitusAMC, noted, "The combined firm is already moving rapidly to integrate our capabilities for the benefit of our clients, and we are excited about the response and the opportunities we see in front of us."
"We are thrilled to have completed this merger and will begin focusing on driving value creation for our key stakeholders," stated Michael Franco, Co-CEO of SitusAMC. "With such a diverse and compelling set of capabilities, we encourage all market participants to explore what the new SitusAMC can do to help them realize opportunities in their real estate businesses."
SitusAMC (www.situsamc.com) is the leading provider of consulting, outsourcing, talent and technology solutions for institutional lenders and investors across both the commercial and residential real estate debt and equity life cycle. The organization has more the 3,300 employees across the U.S., Europe and APAC. SitusAMC offers consulting and advisory services, underwriting and due diligence, servicing and asset management, claims management, valuations, MSR and whole loan brokerage, talent solutions, and technology solutions including warehouse management, conduit management, collateral management, document management, OCR, indexing, data extraction, portfolio management and remittance reconciliation among others.