The company plans to add another 150 mortgage professionals in its new location
American Mortgage Consultants has announced that it added 50 residential mortgage professionals to its platform after a personnel and office acquisition deal with Des Moines, Iowa-based The Barrent Group.
With the transaction, American Mortgage establishes a market presence in the Midwest.
The company also said that it plans to add up to 150 mortgage professionals to its new Des Moines office within the next year. These roles are planned to support securitization underwriting for loan types including non-qualified mortgages, jumbo, agency high balance, single-family rental, fix-and-flip, and small balance commercial real estate. American Mortgage also plans to add capacity to the office for the review of seasoned reperforming, non-performing, and performing assets.
“We have been targeting ways to expand our industry-leading capacity and capabilities when the opportunity to add Rich Barrent and the outstanding mortgage professionals at TBG presented itself,” American Mortgage CEO Michael Franco said. “This acquisition advances our strategic growth priorities and allows us to establish a foothold in the Midwest. Our clients should view this transaction, the planned hiring initiative for our new Des Moines office, and our continued technological innovations as a reinforcement of our commitment to be a strategic partner in their respective businesses.”
“The transaction with AMC was a good fit for TBG as it will allow us to fulfill existing client commitments while also giving our employees the opportunity to join the leading provider of due diligence and other services to the residential mortgage industry,” Barrent said.