SitusAMC acquires Street Resource Group and expands warehouse loan offering

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SitusAMC Holdings Corp. acquired Street Resource Group, Inc. and its warehouse loan system. With the acquisition, SitusATM expanded its warehouse loan technology offering, combining WLS with its ProMerit system.

The combined offerings will support more than 60 clients representing approximately $ 3 trillion in loan financing in 2020, according to a Press release. SitusAMC will retain the SRG team, and SRG Founder and CEO, Stanley Street, will serve as Vice President of SitusAMC Technologies.

WLS is a trusted system that increases operational and customer service efficiency, improves compliance, and helps institutions implement best practices across their warehouse lending operations.

“As independent mortgage bankers become a larger part of the mortgage origination market, having a trusted warehouse lending partner is extremely important,” said Michael Franco, CEO of SitusAMC. “This acquisition strengthens our focus on providing solutions that ensure the availability of credit in the broader mortgage market and will allow us to continue our existing efforts to bring greater efficiency to the primary origination market.”

“SitusAMC is dedicated to providing warehouse lenders with technologies designed to support both traditional operations and the future paradigm of digital automation in the mortgage industry,” Street said.

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