Stewart Acquires Company Specializing in QC Audits
|April 10, 2014|
Stewart has acquired Wetzel Trott Inc., a Michigan-based company specializing in quality control reviews for residential lenders.
Stewart said the transaction strengthens its quality control audit and due diligence offerings for the mortgage origination and servicing space.
“This transaction expands Stewart’s quality control services to mortgage lenders and servicers in a time when regulatory compliance and loan quality solutions demand is at its height,” said Jason Nadeau, Stewart’s group president. “This transaction further emphasizes Stewart’s focus upon growth and expansion of our mortgage services offerings. We believe that services dedicated to improving loan quality will continue to be critical to our customers.”
Wetzel Trott performs origination and servicing quality control reviews on conventional and government loans in accordance with the requirements of Fannie Mae (FNMA), Freddie Mac (FHLMC), Housing and Urban Development (HUD), the Veterans Administration (VA), the Federal Home Loan Banks (FHLB) and private investors. Wetzel Trott also provides its web-based, workflow origination quality control software for sale on a hosted basis.
The entire Wetzel Trott team joins Stewart and builds upon the existing loan review and due diligence product offerings strengthening the origination quality control and servicing quality control that Stewart offers today for mortgage lenders, servicers and the capital markets.
“We are pleased to be joining the Stewart family,” said Jan Wetzel, founder and CEO of Wetzel Trott. “Our dedication and focus on compliance and due diligence mirrors that of Stewart’s, and we have found a great home to continue to grow this service for the mortgage market.”
Wetzel Trott’s quality control service and software round out Stewart’s due diligence offerings which include mortgage due diligence, credit risk management, loan review, servicing oversight, securitizations, and regulatory compliance services for private, GSE and government entities.