“We are thrilled to welcome MorVest Capital to the Milliman family,” Brett Ludden, managing director and head of mortgage solutions at Milliman, said in a statement.
MorVest CEO David Fleig said that joining Milliman gives the firm broader reach and deeper resources. “Together, we can deliver even greater value to the mortgage industry,” he said.
Milliman said MorVest’s platform will be expanded with its own mortgage behavior models, hedging strategies, data analytics and software capabilities. This will allow the combined firm to offer a full suite of risk-management services to mortgage originators, servicers and capital providers.
Monday’s acquisition marks another step in Milliman’s diversification of its business. In March, the company expanded into the residential mortgage channel and hired both Ludden and Jeff Juliane to its team.
