ATM, Mortgage Co-op Form Settlement Firm

ATM Corp. of America, Pittsburgh, has announced a joint venture with America's Mortgage Cooperative Vendor Services LLC to form a national settlement services company.ATM senior vice president Brian Bush will serve as president and chief operating officer of the new company, AMC Lenders Services LLC, which will be located in Pittsburgh. "Previously we have helped build settlement services subsidiaries for large national mortgage lenders such as Countrywide, Citigroup, GMAC Mortgage, Key Bank, and Navy Federal Credit Union," said Francis H. Azur, ATM's president and chief executive officer. He said the joint venture will bring the technology, policies, and procedures of large national mortgage lenders to mid-level lenders. The joint venture partner, America's Mortgage Cooperative Vendor Services, consists of 22 regional mortgage lenders that represent the majority of lenders belonging to America's Mortgage Cooperative LLC.