American Mortgage Consultants has bought JCIII & Associates, in a combination of providers of mortgage due diligence and consulting.
Financial terms of the deal were not disclosed. The combined firm will operate under the name AMC, according to a Monday news release. AMC's corporate headquarters will remain in New York. JCIII's headquarters in Tampa, Fla., will become the combined company's primary production office.
"The acquisition significantly expands AMC's capacity for transactional due diligence," Michael Franco, AMC's chief executive, said in the release. The deal "strengthens our leading market position in private-label securitization and whole loan diligence for both newly originated and legacy loan transactions."
In addition to due diligence services, JCIII also provides quality control underwriting and mortgage staffing services.
