SingleSource Property Solutions, a national provider of valuation, REO, title, and property preservation services, recently announced that the company has merged with iMortgage Services, a Pittsburgh-based firm that performs appraisal management as well as title and settlement services.
SingleSource Property Solutions will remain the name for the merged company and it will be based in Canonsburg, Pennsylvania
Brian Uffelman, previously CEO of iMortgage Services, becomes chairman of the board, while Brian Cullen remains CEO of the new SingleSource. Andre Lacouture remains President of SingleSource and Ed Austin, iMortgage Services’ CEO and Chief Marketing Officer, becomes SingleSource’s COO. SingleSource now employs nearly 300 people, and the management teams from both companies remain intact.
“Since their inceptions, the two companies have had common ownership and have been providing lenders, servicers and various other clients with non-competing services,” Uffelman said. “Because the companies’ service lines complement each other, they have few mutual clients. As a result of this fortunate situation, our board of directors determined it made sense to streamline administrative functions and bring two outstanding brands under a single name to create one of the country’s largest privately held vendor management companies.”
“The sky is the limit for the new SingleSource,” adds Cullen said. “Our scalability will allow us to increase market share by cross-selling services as we continue to provide clients with the custom solutions and personalized attention they have come to expect from us. This development reflects a growing trend toward consolidation throughout the industry to help mortgage service companies achieve economies of scale.”