Milliman has acquired Morvest Capital, expanding the global consulting and actuarial firm's reach in a specialized corner of the housing finance market.
The company is adding a mortgage servicing rights analytics and risk-management provider through the transaction. Milliman did not disclose terms in its announcement.
"This acquisition accelerates our growth in the mortgage sector and strengthens our position as a trusted partner for financial institutions navigating complex market dynamics," said Brett Ludden, a managing director at Milliman, in a press release.
Ludden, who serves as Milliman's head of mortgage solutions, joined the organization
David Fleig, Morvest's CEO, also said he viewed the acquisition as an opportunity to expand his company's expertise and services into related areas to both companies' mutual benefit.
"Milliman's global reach and actuarial expertise perfectly complement our innovative MSR analytics platform. Together, we can deliver even greater value to the mortgage industry," Fleig said in the press release.
Fleig is an industry veteran who has been active in the market since the pre-crisis days and is known for his expertise in the markets for
A spokesperson for Milliman had not responded to an inquiry regarding whether any other information could be shared about the agreement struck between the two companies and how it might affect staffing, facilities, or services at deadline.
