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Industry Updates
SITUSAMC ADDS
1,500 EMPLOYEES
SitusAMC, a New York-based real
estate advisory firm, has hired more than
1,500 employees to boost support capacity
for both originations and secondary market
due diligence. e expansion is expected to
expedite the flow of loans into private-label
securitizations.
Mortgage production skyrocketed in
2020. According to the MBA report, $4.3
trillion in mortgages were originated in 2020,
including $1.5 trillion in purchase loans—the
biggest volume since 2005—and $2.8 trillion
in refinances, an all-time high. Freddie Mac
estimates that loan production volumes will
remain elevated throughout 2021 with an
estimated $3.9 trillion in total production.
is boom has resulted in industrywide
shortages in due diligence capacity, especially
in the secondary market where billions of
dollars in private-label mortgage portfolios
heading for securitization are awaiting review,
with months-long wait times in some cases.
rough its hiring of experienced
industry talent, the company is beefing up
its capacity to meet the high market demand
for its services. "Our increased capacity
is now poised to enable a broader pool of
market participants to leverage SitusAMC's
solutions, including the review of mortgage
portfolios for rated securitization transactions
or for acquisition of loans into investment
portfolios," said Tom Britt, Executive
Managing Director and Head of Residential
Real Estate for SitusAMC.
e company's additional capacity will
primarily be available to clients in the form
of dedicated capacity teams, custom built
to support client-specific needs, while also
providing service to their sellers and internal
stakeholders. However, given market demand,
SitusAMC's increased review capacity will
also support "transactional" assignments,
allowing clients to "flex up" capacity needs
and providing them the ability to execute on
short-duration assignments.
