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Computershare Acquires Capital Markets Cooperative

NationalMortgageProfessional.com
Feb 05, 2016
Computershare Limited has announced that it has agreed to acquire Capital Markets Cooperative LLC (CMC)

Computershare Limited has announced that it has agreed to acquire Capital Markets Cooperative LLC (CMC), subject to approval of U.S. government-sponsored enterprises (GSEs) and state regulators. The acquisition is expected to close on or around April 2016.

CMC, based in Ponte Vedra Beach, Fla., enables a nationwide network of more than 200 "Patrons"—financial institutions, credit unions and independent mortgage lendersto use their collective power to negotiate better products, services, pricing and liquidity solutions during the processing, sale and servicing of mortgages by working with CMC's network of preferred mortgage investors and mortgage service partners. In turn, CMC's Cooperative Business Solutions provides access to a dependable loan origination stream and simplified access to the mortgage lending marketplace.

While remaining a separate, autonomous entity, CMC will be a strategic component of Computershare's expanding U.S. mortgage footprint, which already includes mortgage servicer Specialized Loan Servicing (SLS) and will soon also include its recently announced planned acquisition of fulfillment provider Altavera Mortgage Services LLC.

"The mortgage industry is an important area of future growth for Computershare," said Bryan Butvick, EVP and head of Computershare's mortgage-related services. "We are pleased to be able to expand our service offering in that marketplace to include the wide array of services CMC offers its Patrons."

"We are thrilled to become part of Computershare," said CMC president and CEO Tom Millon. "We already have strong working relationships with Computershare and SLS, developed through successful transactions we have executed with them in the past year. Computershare's stability, operational capabilities and financial backing will support us to continue to grow our business, support our preferred investors and vendors, and provide outstanding products and services to our Patrons."

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