Thornburg Buys QC Provider

Thornburg Mortgage Inc., Santa Fe, N.M., has reported the acquisition of Adfitech Inc., an Edmond, Okla.-based provider of quality-control and other services to the mortgage industry.The terms of the transaction were not disclosed. Thornburg, a residential lender focused mainly on jumbo adjustable-rate mortgages, said Adfitech is the largest provider of outsourced quality-control services to the mortgage industry and also provides post-closing audit and document delivery services. "This acquisition supports our long-term goal to build a successful mortgage lending operation by expanding our operational capabilities to include an in-house capability that will support many of our back-office lending operations," said Larry Goldstone, Thornburg's president and chief operating officer. Adfitech will become a wholly owned subsidiary of Thornburg Mortgage Home Loans Inc., Thornburg's mortgage origination and acquisition subsidiary. The parent company, a real estate investment trust, can be found online at http://www.thornburgmortgage.com, and Adfitech can be found at http://www.adfitech.com.