“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,” said AMC’s Chief Executive Officer Michael Franco. “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 terms of the acquisition were not made public. AMC stated it planned to hire an 150 additional mortgage professionals to its new Des Moines operations within the next year.
“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,” said Barrent, President of TBG.