SitusAMC on Monday announced the launch of its Warehouse Administration Services, “a comprehensive suite of technology-enabled turnkey services” that it says will help warehouse lenders reduce costs by as much as 30%, according to a company-issued news release.
SitusAMC is a provider of “technology, strategic outsourcing, talent and advisory solutions to the commercial and residential real estate finance industries” but the Warehouse Administration Services launch is aimed at supporting mortgage warehouse lenders, who provide lines of credit to originators.
Its goal is “to help warehouse lenders setup, execute, enhance and scale their warehouse businesses while improving efficiency and reducing costs,” the statement said.
Among the new offerings, SitusAMC can now set up warehouse facilities, help with the execution of daily operations, aid in compliance of banking standards and offer risk management, according to the news release.
Anthony Beshara, the head of SitusAMC’s Warehouse Financing Solutions, said building and launching a warehouse lending franchise can be daunting, particularly amid labor shortages.
“Our Warehouse Administration Services address these challenges with a turnkey approach that shifts the responsibility of setting up, managing, and scaling a warehouse facility from the client to our team of experts,” Beshara said in the news release. “Our offering leverages our global workforce and proven technology to help our warehouse clients reduce costs and execute day-to-day operations more efficiently. Pair that with SitusAMC’s broader offering supporting the entire mortgage lifecycle, and you’ve got a one-stop-shop that delivers unparalleled value for our clients.”
The news comes about a year after SitusAMC acquired Street Resource Group, expanding the company’s warehouse lending tech offerings. SitusAMC has the top warehouse loan software systems on the market, SRG’s Warehouse Loan System (WLS) and SitusAMC’s own offering, ProMerit, which it acquired in 2019 as part of the MBMS transaction.