NEW YORK--(BUSINESS WIRE)--Jul 24, 2018--American Mortgage Consultants, Inc. (“AMC”) today announced the acquisition of certain personnel and the operations center of Des Moines, Iowa-based The Barrent Group (“TBG”). This strategic transaction will establish a market presence for AMC in the Midwest and adds more than 50 residential mortgage professionals to its platform, further enhancing the firm’s client service capabilities.

AMC plans to hire up to 150 additional mortgage professionals within the next year to join its new office in Des Moines. These individuals will support a variety of roles including securitization underwriting for loan types including Non-Qualified Mortgages, Jumbo, Agency High Balance, Single Family Rental, Fix-and-Flip, and Small Balance Commercial Real Estate. The office will also add to AMC’s capacity for the review of seasoned reperforming, non-performing, and performing assets.

“We have been targeting ways to expand our industry-leading capacity and capabilities when the opportunity to add Rich Barrent and the outstanding mortgage professionals at TBG presented itself,” said AMC’s CEO Michael Franco. “This acquisition advances our strategic growth priorities and allows us to establish a foothold in the Midwest. Our clients should view this transaction, the planned hiring initiative for our new Des Moines office and our continued technological innovations as a reinforcement of our commitment to be a strategic partner in their respective businesses.”

“The transaction with AMC was a good fit for TBG as it will allow us to fulfill existing client commitments while also giving our employees the opportunity to join the leading provider of due diligence and other services to the residential mortgage industry,” said Richard Barrent, President of TBG.

About American Mortgage Consultants, Inc.

AMC, founded in 1996, is a leading nationwide residential and consumer loan due diligence, quality control, securitization review, MSR review, advance assessment, servicing oversight, technology, and consulting services provider. AMC's market-leading team of mortgage professionals provide customizable solutions to financial institutions nationwide. For more information, please go to www.amcfirst.com.

About The Barrent Group, Inc.

TBG, founded in 2008 by Richard Barrent, is a leading provider of residential mortgage forensic loan file review services for a variety of constituents throughout the residential mortgage market with headquarters in Des Moines, Iowa.

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CONTACT: Media

ICR for American Mortgage Consultants

Jason Chudoba, 646-277-1249

Jason.Chudoba@icrinc.com

or

Matthew Chudoba, 203-682-8217

Matthew.Chudoba@icrinc.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: SMALL BUSINESS PROFESSIONAL SERVICES ACCOUNTING BANKING CONSULTING FINANCE INSURANCE

SOURCE: American Mortgage Consultants, Inc.

Copyright Business Wire 2018.

PUB: 07/24/2018 12:01 PM/DISC: 07/24/2018 12:01 PM

http://www.businesswire.com/news/home/20180724005692/en