FOR IMMEDIATE RELEASE
Mortgage Connect Announces Acquisition of ADFITECH
Purchase Accelerates Company’s Capital Markets Offerings and Expands Quality Control Solutions for Its Mortgage Origination and Servicing Divisions
Pittsburgh, PA; April 12, 2022 – Mortgage Connect LP, a national mortgage services provider for the nation’s largest financial institutions, investors, and servicers, formally closed a deal today for the purchase of ADFITECH, Inc.
For 40 years, ADFITECH, which is an approved third-party review (TPR) firm, has established itself as a premium provider of outsource mortgage services, including quality control, due diligence, fulfillment, and document management services. Founded in 1983, the company is one of the very first mortgage quality control companies and currently serves over 500 diverse clients, including six of the top 10 lenders, Wall Street firms, and numerous banks and mortgage operations.
ADFITECH’s long standing compliance and loan quality expertise complements Mortgage Connect’s existing origination, servicing and capital markets suite of products and services. Beyond offering title and valuation due diligence, Mortgage Connect is now well equipped to deliver a full suite of credit, compliance, and servicing reviews catered specifically to secondary market participants buying, selling, or structuring residential mortgage-backed securitizations (RMBS).
“We’re excited to welcome ADFITECH to our family of companies. This acquisition significantly scales up our capital markets offerings and delivers essential risk management, servicing, and capital markets securitization services, all under one roof,” said Jeff Coury, CEO of Mortgage Connect. “We will continue strategic investments in technologies, intelligence, and solutions to help clients efficiently navigate market demands while reducing the risks associated with loan quality.”
Under the continued direction of ADFITECH leadership, including Founder and CEO Tom Apel and President Dru Jacobs, the entire ADFITECH executive team and staff will remain on board and align synergies with Mortgage Connect to leverage its value proposition and best-in-class services for clients and their consumers.
“This partnership creates a national leader of services for the mortgage industry with a strengthened foundation better able to serve our clients in both times of interest rate uncertainty and origination volume growth,” Apel said. “Further, our partnership with Mortgage Connect creates an opportunity to continue to accelerate our technology investments that will create a truly differentiated provider for the mortgage industry.”
About Mortgage Connect LP
Mortgage Connect is a Pittsburgh, PA headquartered national mortgage service provider, serving the Origination, Default, Valuation, and Capital Markets sectors. With additional offices in New York, Texas, California, Colorado, Nevada and Alabama, the company offers customizable solutions to the nation’s largest lenders and servicers, including 17 of the top 20. Through its serve-first culture, Mortgage Connect and its subsidiaries are committed to an unwavering level of communication, education and customer service on each transaction and strive to leave an overwhelmingly positive and lasting impression with their clients and consumers. For more information, visit www.mortgageconnectlp.com.
About ADFITECH, Inc.
Founded in 1982, ADFITECH has earned an impeccable reputation in the mortgage industry as the premier provider of outsourced mortgage quality control, due diligence and mortgage fulfillment services. From its 15-acre corporate campus in Edmond, Oklahoma, ADFITECH’s army of dedicated employees review and validate countless pieces of critical information vital to the wellbeing of an ever increasingly regulated mortgage industry. For more information on ADFITECH, visit ADFITECH’s website at www.adfitech.com.