*Boutique Consulting Firm Closes New Acquisition*
**By Tony Garritano**
***PROGRESS has learned that zIngenuity, a boutique consulting firm that provides mortgage fulfillment, quality control, and repurchase defense for mortgage lenders and servicers, has acquired Irwin Reinsurance Corporation (“IrwinRe”), a Vermont domiciled captive reinsurance company and merged it into zInsureRe, Inc. (“zInsureRe”), a Cayman Islands based, indirect wholly-owned subsidiary of zIngenuity.
****“We established zInsureRe in 2012 to serve as an acquisition vehicle for lender captives that are in run-off. Earlier this year we completed another acquisition and continue to actively bid as the sole acquirer on smaller sized transactions and in partnership with private investors for deals with asset sizes in excess of $10 million,” said Steve Beagles, Managing Director of zIngenuity, Inc.
****“Recent CFPB mortgage insurance company settlements have made future commutations highly unlikely, leaving a lender with little option beyond a lengthy run-off. We provide lenders with an attractive monetization alternative and have developed a standardized bid package, which allows us to quickly evaluate and bid on captives of all sizes at a time when no active market exists,” added David Reber, President and CEO of zIngenuity, Inc.
****In addition to zIngenuity’s investment division activities, the firm continues to grow its service offerings in mortgage fulfillment and quality control audits in response to changes in the market and in support of client needs.
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at firstname.lastname@example.org.