SAN ANTONIO, Oct. 20, 2014 /PRNewswire/ -- SWBC is pleased to announce that it has acquired Equi-Trax Asset Solutions LP, a nationwide collateral valuation provider. In addition, SWBC has acquired Quality Valuation Services (QVS), a nationwide appraisal management company. These two companies will be combined with SWBC's LendingXpress organization to create SWBC Lending Solutions™.
SWBC Lending Solutions will have a deep competency in valuations. In addition, the company will provide products and services that cover all of the settlement services offerings used in originations and default management.
SWBC's Ted Robinson will lead the organization as CEO. As part of the transaction, Equi-Trax's Guy Taylor will become President of SWBC Lending Solutions. Taylor has more than 30 years of senior level experience, leading the development of his company's unique line of hybrid collateral valuation products. QVS' Chuck Mureddu will join the company as Senior Vice President/Chief Valuations Officer. He has more than 30 years of combined mortgage lending experience including appraisal management, enterprise risk, loss mitigation, and whole loan exit strategies. SWBC's Joe Ware joins the team as Senior Vice President/Channel Management. Joe has more than 25 years of experience in the collateral valuation and settlement services industries. Equi-Trax's Mark Weisgerber will join SWBC Lending Solutions as Senior Vice President /Chief Operations Officer. He has more than 25 years of experience working for the industry's largest title underwriters.
"We created SWBC Lending Solutions to provide an end-to-end solution that many financial institutions are asking for," said SWBC Chairman Charlie Amato. "Compliance and vendor oversight regulations have forced financial institutions to limit the number of vendor partners they work with."
"We are excited about growing SWBC Lending Solutions," said SWBC President Gary Dudley. "We will continue to look at strategic opportunities that build on our platform and add enterprise value."
The company will have locations in San Antonio, Texas; Santa Barbara, California; and Lake Forest, California.
About SWBC
Headquartered in San Antonio, SWBC is a diversified financial services company providing a wide range of insurance, mortgage, and investment services to financial institutions, businesses, and individuals. With offices across the country, SWBC is committed to providing quality products, outstanding service, and customized solutions in all 50 states. For more information, visit SWBC's website at www.swbc.com.
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SOURCE SWBC
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