Company switches on full expansion mode to meet growing demand
SitusAMC is beefing up its capacity to meet the high market demand for its services. The proptech firm hired more than 1,500 employees as part of an effort to boost its origination and secondary market due diligence capacities.
According to its release, the expansion intends to "expedite the flow of loans into private-label securitizations" and address the dearth of due diligence, which was a result of record mortgage production volumes in 2020.
Read more: Could 2021 be the year of consolidation in mortgage lending?
SitusAMC said that the additional capacity will primarily be available to clients in the form of "dedicated capacity teams, custom-built to support client-specific needs." The company's review capacity team will also support transactional or short-duration assignments.
"Our increased capacity is now poised to enable a broader pool of market participants to leverage SitusAMC's solutions, including the review of mortgage portfolios for rated securitization transactions or for acquisition of loans into investment portfolios," said Tom Britt, executive managing director and head of residential real estate at SitusAMC.
Read more: Why SitusAMC acquired two companies last month - what that means for the industry
In addition to the hiring spree, SitusAMC has also grown its business portfolio with a series of company buyouts. SitusAMC's slew of recent acquisitions includes mortgage tech company ReadyPrice, commercial real estate servicing firm Truist, India-based mortgage outsourcing company Assimilate Solutions, and more.
