Recent headlines have been dominated by big mortgage technology acquisitions. We’ve discussed the joining of LPS and ServiceLink to form Black Knight Financial Services. We’ve also discussed the acquisition of Interthinx by First American. Today I got the scoop on another big acquisition that will result in the formation of a big financial services company in our space. Here’s the news:
The Global Real Estate Services group (GRES) of RR Donnelley & Sons has been acquired by Covius, LLC. The newly formed entity will maintain its core competency to provide industry-leading commercial and residential real estate advisory products and services to the financial markets and will have offices in Atlanta, Los Angeles and Salt Lake City. Covius is a provider of real estate advisory services, delivering intelligence-based solutions, data and analytics, risk management, and innovative technology that both commercial and residential financial services providers have come to trust.
The new engagement of the prior GRES management team, formerly known as Office Tiger and Mortgage Ramp, will continue to provide meaningful and innovative products and services for many of the Fortune 500 clients it has served for more than a decade. Keith Gettmann and Doyle Spears, now serving as Senior Managing Directors in Covius, along with nearly 100 employees nationwide, are committed to ensuring a seamless transition, and continuing to provide customer service that is second to none.
In addition to securing Mr. Gettmann and Mr. Spears, Covius has the distinct honor of announcing that Edward Feighan will serve as the Chief Executive Officer and Joseph Little will serve as the President of the newly formed company. Mr. Feighan is a former multi-term congressman (10 years in the U.S. House of Representatives) and a successful entrepreneur with a track record of building numerous profitable companies. He is highly regarded in the government community, and in private equity, and has served at the highest levels of executive management with insurance specialty companies, including the former CEO of ProCentury.
Mr. Little is the former Chief Executive Officer of Real View Capital where he was instrumental in building a highly profitable residential mortgage acquisition platform. Prior to that, he worked for seventeen years at several top-tier Wall Street investment banks serving at the highest levels of executive management and is frequently called upon as an industry expert to advise on all facets of real estate transactions.
“Through this transaction, we have the good fortune of acquiring an industry-leading real estate advisory services company with a superior management team, each having a minimum of 20 years of relevant experience.” Mr. Little continues to say, “The real estate market has experienced profound changes in the last few years. Our clients, now more than ever, continue to come back to us as a trusted source of intelligence to navigate the new and evolving landscape. This is where our experience and trust matter the most.”
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 email@example.com.