February 2016 - The Industry's Best Kept Secret

TheMReport — News and strategies for the evolving mortgage marketplace.

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TH E M R EP O RT | 5 MTECH On the new site, clients can expect to see an overview of the company, a list of executives, different products they offer, and an easy gateway to Summit's online order placement and monitoring system. The company will also have a company news section and a blog, where Chief Valuation Officer Ahlensdorf, Mark Melikian, and other Summit executives will post industry insights. "The new site certainly gives our clients and friends in the industry a better view into the principles we've built our company around and the products that will make them more successful in their own work," Ahlensdorf noted. "We plan to continue to build out the site into a valuable resource our clients can depend upon." SingleSource Joins With iMortgage Services THE MERGER WILL EFFECTIVELY CREATE ONE OF THE BIGGEST PRIVATELY HELD VENDOR MANAGEMENT VENTURES IN THE U.S. S ingleSource Property Solutions, a national provider of valuation, REO, title, and property preservation services, recently announced that it has merged with iMortgage Services, a Pittsburgh-based firm that performs appraisal management, as well as title and settlement services. SingleSource Property Solutions will remain the name for the merged company, and it will be based in Canonsburg, Pennsylvania. Brian Uffelman, previously CEO of iMortgage Services, becomes chairman of the board, while Brian Cullen remains CEO of the new SingleSource. Andre Lacouture remains President of SingleSource, and Ed Austin, iMortgage Services' CEO and Chief Marketing Officer, becomes SingleSource's COO. SingleSource now employs nearly 300 people, and the management teams from both companies remain intact. "Since their inceptions, the two companies have had common ownership and have been providing lenders, servicers, and various other clients with non-competing services," Uffelman said. "Because the companies' service lines complement each other, they have few mutual clients. As a result of this fortunate situation, our board of directors determined it made sense to streamline administrative functions and bring two outstanding brands under a single name to create one of the country's largest privately held vendor management companies." "The sky is the limit for the new SingleSource," Cullen said. "Our scalability will allow us to increase market share by cross-selling services as we continue to provide clients with the custom solutions and personalized attention they have come to expect from us. This development reflects a growing trend toward consolidation through - out the industry to help mortgage service companies achieve economies of scale." Chronos Solutions Acquires Cogent Road BY COMBINING FORCES WITH COGENT, CHRONOS WILL BE POISED TO PROVIDE AN EVEN MORE ROBUST PRODUCTS-PLUS- SERVICES SUITE. C hronos Solutions recently announced its agreement to acquire San Diego-based mortgage "The sky is the limit for the new SingleSource." —Brian Cullen, CEO

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