AMC launches tech subsidiary for secondary mortgage market

by Steve Randall11 Sep 2018

American Mortgage Consultants has launched a subsidiary aimed at providing a suite of technology tools for transacting in the secondary mortgage market.

TechEssential is available to AMC clients and third parties and the business will be overseen by mortgage technology veteran Brian Perry, who recently joined AMC as managing director of software solutions, and the firm’s chief technology officer Chris Consoli.

“I’m excited to join the dynamic team that AMC has established at TechEssential to bring increased efficiency to the secondary market,” said Mr. Perry. “Although not historically known as a FinTech company, AMC has built some market-leading solutions that we believe will become foundational technologies for transacting in residential mortgage finance.”

The suite of tech tools includes a document classification and data extraction technology, an e-Vault-style document repository technology for warehousing electronic mortgage documents, a solution that allows for the management of transactions between buyers and sellers, and a module for servicer surveillance and several other data-led components.

“TechEssential represents AMC’s larger commitment to technology as the underpinning of our business,” said Michael Franco, AMC’s Chief Executive Officer. “We believe the future of the residential mortgage industry will be about technology-based transaction and diligence facilitation, and that an open architecture is essential toward providing connectivity throughout the secondary market and vendor community.”

 


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