M&A Vet Teams up with RMIC
Merger and acquisitions veteran Larry Charbonneau has teamed up with Republic Mortgage Insurance to form a new advisory firm offering consulting services to the mortgage industry.
Republic Strategic Advisory Inc., which is based here, will broker M&A deals, including the sale of residential servicing rights.
Mr. Charbonneau told Mortgage Servicing News that he is working on a number of deals but could not provide details at this time. RSAI began organizing earlier this year. It opened for business last month.
The firm, which will represent both buyers and sellers, is in the process of obtaining its broker/dealer license.
For 20 years Mr. Charbonneau was widely known in the industry as a principal in Charbonneau-Klein Inc. of Houston but left the firm in 2003 to manage a mortgage company. (CKI brokered servicing portfolios and franchise transactions.)
Mr. Charbonneau's stint as president and chief executive of McAfee Mortgage of Lubbock, Texas, (also known as Plains Capital McAfee Mortgage) lasted about a year.
He then opened up a small advisory firm, before partnering with Republic, an MI firm based in Winston-Salem, N.C. Republic is a subsidiary of the publicly traded Old Republic International Corp. of Chicago.
RSAI will use Republic's sales force to assist in its advisory work.
Republic is the nation's third-largest MI firm in terms of new policies written, according to the Quarterly Data Report.
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