Clayton Holdings Inc., a Shelton, Conn., information and analytics provider, has acquired Mortgage Resource Network Inc., a Dallas provider of origination support and pre-closing due diligence services. The acquisition was announced Wednesday. Clayton, which plans to go public, did not say how much it paid.
It is well known on Wall Street for its prepurchase due diligence and post-securitization bond surveillance services, among other things. But Clayton's work for originators has been limited mostly to providing automated compliance software and helping to manage correspondent channels for investment-bank conduits.
Mortgage Resource specializes in helping mortgage brokerages become mortgage banks. It has worked for more than 120 customers on more than a million loans. It also does back-office work - including fulfillment, imaging, contract underwriting, closing, funding, and investor delivery services - for originators, usually at the urging of their warehouse lenders.
Clayton said it hopes to leverage those services to get bigger in origination services. Some of those services might be useful for the sellers Clayton has dealt with in its conduit work.
Paul Anselmo, Mortgage Resource's founder and CEO, has joined Clayton's management team.
