Evolve Mortgage Services has acquired Brooks Systems LLC, the culmination of a 20-year working relationship. Terms of the transaction were not disclosed.
Evolve’s core offerings have used Brooks Math Engine and other regulatory products for years as part of the company’s investment in outsourced mortgage solutions and eMortgage technology.
“With our acquisition of Brooks Systems LLC this will help continue to ensure this,” Evolve Mortgage Services CEO Paul Anselmo said in a release. “Bob Brooks has been a great partner and friend and has been at the forefront of compliance since the first days of financial regulation and we at Evolve are honored to carry that torch forward as Bob takes a well-deserved rest.”
Rather than just being another business process outsource provider to manage volume capacity, Evolve stated it has heavily invested in technology, not only able to scale but also deliver a more consistent and fully compliant automated process. This guarantees better data quality and integrity by creating stronger underwriting and compliance results fully backed with rep and warrants.
“I am enthused with the acquisition that brings both of our technologies together, as we forge forward together in the mortgage banking industry,” Robert “Bob” Brooks, Brooks System president and CEO said.