Mortgage advisory firm Stratmor Group has merged with Teraverde, a mortgage advisory firm and technology solutions provider, in a deal that the companies say will allow them to expand the markets they serve and the depth of services provided. The terms of the deal were not disclosed.
Both firms will operate under the Stratmor brand, the companies said in a statement on Friday. The larger entity combines each company’s respective programs, technology and subject-matter expertise to guide lender and vendor clients to “make smart strategic decisions that drive efficiency and profitability.“
“The mortgage industry is experiencing one of the toughest markets in its history. It is imperative that we all make informed business decisions to navigate this challenging cycle,” Stramor CEO and senior partner Lisa Springer said in a prepared statement.
“Similar to the mortgage lenders and vendors that serve our industry, Stratmor decided to refresh our programs and services so we can continue to provide best-in-class experiences for our clients. Teraverde is the right company to enhance our ability to elevate our offerings and add even greater value to our industry.”
Jim Deitch, the CEO and co-founder of Teraverde — which was a HousingWire Tech 100 winner in 2020 — said in a statement that each firm has a sincere desire to improve the industry and provide superior services to clients.
“Our firms have compatible cultures and complementary service offerings backed by outstanding talent. This combination, coupled with the availability of Teraverde’s outstanding Coheus technology solutions, creates a powerhouse advisory firm.”