Companies will integrate their outsourced mortgage services once the deal is sealed
SourcePoint, an outsourced mortgage services provider, has agreed to buy The StoneHill Group to bolster its offerings.
According to its release, StoneHill’s expertise in mortgage quality control and due diligence will enhance Sourcepoint’s mortgage services platform and increase its access to mid-market lenders. Established in 1996, The StoneHill Group is one of the mortgage industry’s largest domestic providers of outsourced mortgage services to banks, mortgage lenders, and credit unions. Based in India, Sourcepoint offers an onshore and offshore blend of services, including origination, servicing, title and settlement, post-closing, due diligence, and digital mortgages.
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Vipul Khanna, CEO of Firstsource Solutions, the parent company of Sourcepoint, added that the acquisition is “very complimentary and provides us adjacent capabilities in the mortgage value chain.”
“It enables us to scale the business by leveraging the strong demand for residential mortgage loan trading and securitization,” he said. “We’re particularly excited about integrating the offerings of our companies to provide the best-in-class, end-to-end mortgage solutions to both mid-and large market customers.”
“Sourcepoint has extensive experience in growing capabilities and businesses and has become a market leader by helping mortgage lenders and servicers operate with greater agility,” said David Green, chairman and CEO of the StoneHill Group. “We consider them a perfect fit and look forward to leveraging their resources and industry reach to take our company to new heights.”
