Situs, a real estate technology provider, is looking to go big on fintech with its acquisition of MountainView Financial Solutions.
The acquisition, which is expected to be completed before the end of Jan. 31, 2018, will see the Situs gaining the capabilities for housing financing.
"MountainView is the premier valuation and brokerage platform for Mortgage Servicing Rights (MSRs), hard-to-value securities and whole loans, and has a well-earned reputation as an elite provider of risk management analytics for financial institutions," Steve Powel, CEO of Situs said in a press release.
"Together with our 2017 acquisition of The Collingwood Group, the MountainView transaction expands our set of capabilities and positions Situs as the trusted advisor of choice within the continually evolving housing finance market, and puts Situs at the nexus of real estate and Fintech," he added.
Staff from MountainView will work Situs’ to offer a wide range of risk management and transaction services. They will build on the group's foundation of valuation and regulatory advisory services.
"MountainView's breadth of services is a natural extension of Situs' existing analytics offerings," said MountainView CEO Michael Morgan.
"As a part of the Situs family, MountainView will be able to leverage Situs' existing tools, resources, data and partnerships to further develop our combined analytics framework, enhance our models and extend our offerings into new asset classes and to more clients," he added.