Milliman has acquired Morvest Capital, expanding the global consulting and actuarial service firm's involvement in a specialized areas within the housing finance market.
The provider of actuarial-related services is bringing a company that provides mortgage servicing rights analytics and risk management into the fold in the transaction. Milliman did not disclose any terms of the deal in its press release announcing the deal.
"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 chief executive, 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 a housing finance veteran who has been active in the market since the pre-crisis days and is known for his expertise in the markets for
Milliman will be bringing over 100% of Morvest's staff and there are no changes planned to the acquired company's services in the short term, according to an emailed statement from a company spokesperson.
