Total Lender Solutions, a San Diego-based company specializing in complex and comprehensive nonjudicial foreclosures, has acquired the assets of Mortgage Lender Services, a foreclosure processing firm based in Sacramento, and its sister company Sunrise Assessment.
The financial terms of the transaction were not disclosed. According to the companies, the acquisition gives Total Lender Solutions, a stronger foothold in Northern California and Nevada. Total Lender Solutions said it will finalize decisions on operations for both the Mortgage Lender Services and Sunrise Assessment brands in the coming months as Mortgage Lender Services President Marsha Townsend plans to retire.
“This deal, first and foremost, benefits our private and institutional lenders by bringing together two very committed and knowledgeable teams to serve them better—and to bring defaulted borrowers back to the table faster to get payments moving again,” said Randy Newman, founder and CEO of Total Lender Solutions.
“It is never easy to walk away from something you’ve dedicated your life to, but I feel this is the right time,” added Townsend. “To me, in this industry no one is more capable than Randy and Total Lender Solutions when it comes to embracing my team and serving our clients in the future.”