American Mortgage Consultants, Inc. (“AMC”), a provider of outsourced services to participants in the residential and consumer loan mortgage market, announced today that funds managed by Stone Point Capital LLC (“Stone Point”) have acquired a majority stake in AMC. Financial terms of the transactions were not disclosed.
Founded in 1996, AMC provides a wide array of services relating to residential mortgage transactions, including securitization review, loan diligence and consulting services. AMC uses a technology-enabled approach to efficiently and cost-effectively provide services to its clients. AMC services more than 200 active clients and has evaluated over $150 billion of residential loans since 2016.
“We are excited to begin our partnership with Stone Point, which will enable the continued growth of the AMC platform to meet the demands of our clients,” said CEO Michael Franco. “AMC’s commitment to enhancing the breadth, depth, and quality of our existing service and technology offerings will only be enhanced with the completion of this transaction. We look forward to expanding our role as a strategic partner for market participants throughout the mortgage loan lifecycle with innovative solutions to meet the demands of tomorrow’s markets.”
Chuck Davis, CEO of Stone Point, added: “We are thrilled to be partnering with Michael and the AMC team. We have a long history of investing in the real estate technology and services sector and see significant growth opportunities for the company. We look forward to working with the talented team at AMC to help support the company in its continued growth.”
About The Author
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.