Opus Capital Markets Consultants Acquires MDMC Due Diligence Services Unit
Lincolnshire, IL - June 2009 - Opus Capital Markets Consultants, LLC (Opus CMC) and Mortgage Data Management Company (MDMC) announced today the acquisition of the due diligence division of MDMC by Opus CMC.
This integration combines two of the largest providers of due diligence services of this kind, and will increase the portfolio of services offered by Opus CMC. “MDMC has been a trusted partner of Opus CMC for years. In light of the changing industry, we have recognized the importance of this partnership, and have chosen to make the complimentary relationship a permanent one” says Jennifer LaBud, Co- Founder of Opus CMC.
The due diligence division acquired by Opus CMC was formerly part of parent MDMC. MDMC will continue to function as a separate entity, owned and operated by Kent Loehrke and Doug Lackey, specializing in securitization analysis and the delivery of mortgage assets to Fannie Mae, Freddie Mac, and Ginnie Mae. Opus CMC and MDMC will continue to maintain a strategic partnership to allow for due diligence information to flow directly to investors, increasing efficiency and allowing for increased transparency in the secondary market. It also adds value for clients of both companies. Ms. LaBud adds, “There are significant benefits for clients of both companies. Opus CMC clients will have stronger access to data delivery systems and enhanced expertise in fraud reviews and reverse mortgage products. MDMC clients will see increased efficiency and access to more macro level consulting services, such as nonperforming asset reviews, operational analysis and experience in the international market.” Opus CMC has committed to a lease for MDMC’s SAS 70 Type II audited facility.
Opus CMC, a certified Woman Owned Enterprise, was founded in 2005 and has since expanded from providing loan level due diligence services to offering broader consulting services such as counterparty operational reviews. They have also taken a proactive approach to asset management in providing consulting services for non-performing loans, including in-depth loan level reviews to identify the cause of delinquency, review of loan servicers and servicing practices to ensure that non-performing assets are being managed properly, and advisory in following new government programs and industry best practices.
Doug Lackey, Principal of MDMC notes “We are very excited that MDMC’s due diligence business is joining forces with Opus CMC. Our companies have had a strategic partnership for years, and we have a great mutual respect for each other. We believe that the combination of our two firms’ expertise, seasoned staff, and technology will add great value for our clients.” Mr. Lackey and Mr. Loehrke, co-founders of MDMC, will both remain as members of Opus CMC’s Board of Advisors.