SitusAMC snaps up Assimilate Solutions as part of India expansion plans

Acquisition is part of a strategy to optimize its residential origination offerings

SitusAMC snaps up Assimilate Solutions as part of India expansion plans

Real estate tech provider SitusAMC has snapped up Assimilate Solutions, a provider of mortgage and title knowledge process outsourcing and information technology outsourcing.

The move, SitusAMC said in a statement, is part of the company’s recent expansion throughout India. It also builds on the extension of the firm’s residential origination offerings, including the launch of its SAFE Act licensed loan processing and fulfillment service. The Assimilate management team will be retained by SitusAMC, according to the release.

“We are excited to gain not only the deep mortgage domain services professionals from Assimilate but also to add a strong bench of information technology outsourcing solutions for our clients, so we can help them implement transformative solutions for their business, including those technologies offered by SitusAMC,” said SitusAMC CEO Michael Franco. “This acquisition provides us with an optimized business model leveraging a combination of onshore and offshore staff that can support our clients’ licensed and non-licensed activity needs in a nimble, technology-enabled environment, which will drive better outcomes for everyone we serve.”

Founded in 2012, Assimilate offers mortgage services offering, including loan origination, closing and post-closing, loan servicing, secondary market activity, and title and settlement support. The company also provides technology support on product development, data intelligence and analytics, integration management, test engineering, application development, and digital acceleration.

“We are thrilled to join SitusAMC and contribute to the vision of transforming the real estate finance industry through innovative technology and best-in-class domain-centric business services,” Amit Gujral, co-founder and CEO of Assimilate said.

The deal comes on the heels of SitusAMC’s acquisition of mortgage tech startup ReadyPrice early this year. SitusAMC said that it would begin to offer integrated solutions for brokers and lenders using ReadyPrice in 2021.