SWBC, a San Antonio-based financial services provider, announced Oct. 20 that it has acquired Equi-Trax Asset Solutions LP, a nationwide collateral valuation provider, and 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 specialize in providing valuation services. 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 SWBC Lending Solutions’ president. Taylor has more than 30 years of senior-level experience, including his time leading Equi-Trax’s 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 mortgage lending experience, including time working in appraisal management, enterprise risk, loss mitigation, and whole loan exit strategies.
SWBC’s Joe Ware joins the team as senior vice president/channel management. Ware 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,” SWBC Chairman Charlie Amato said. “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,” SWBC President Gary Dudley said. “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, and Santa Barbara and Lake Forest, Calif.