Stewart Lender Services (SLS), a wholly owned subsidiary of Stewart Title, has acquired a majority interest in the US-based REO outsourcing and sub-servicing company PMH Financial.
PMH Financial was previously majority-owned by Braddock Holdings, the private equity affiliate of Denver-based Braddock Financial.
PMH provides REO services, short sale management, collateral valuation, subservicing, loan review and due diligence services to national and regional lenders.
PMH manages an active inventory of nearly $2.5bn in real estate assets on behalf of financial institutions, loan servicers and hedge fund investors, with a staff of over 100 professionals in six states.
Stewart Lender Services president and CEO Jason Nadeau said PMH will provide a great deal of synergy with a number of Stewart clients and services.
"PMH’s senior leadership team has some of the major REO and servicing executives in the industry to have join the firm," Nadeau said.