US-based business solutions provider Situs has signed a definitive agreement to acquire MountainView Financial Solutions, a valuation and risk analytics business company for the financial services sector.

The financial terms of the transaction were not divulged.

MountainView Financial Solutions provides multiple services including financial model validations; asset valuations for residential whole loans, consumer loans, residential mortgage servicing rights (MSR) and asset-backed securities.

Currently, the company serves more than 600 customers across banking, insurance, lending and servicing sectors.

The acquisition is expected to close by the end of this month, subject to customary closing conditions.

Following the completion, MountainView will work with Situs to continue providing various risk management and transaction services.

Commenting on the deal, Situs CEO Steve Powel said: “MountainView is the premier valuation and brokerage platform for Mortgage Servicing Rights (MSRs), hard-to-value securities and whole loans, and has a well-earned reputation as an elite provider of risk management analytics for financial institutions.

“Together with our 2017 acquisition of The Collingwood Group, the MountainView transaction expands our set of capabilities and positions Situs as the trusted advisor of choice within the continually evolving housing finance market, and puts Situs at the nexus of real estate and Fintech.”

MountainView CEO Michael Morgan said: “As a part of the Situs family, MountainView will be able to leverage Situs’ existing tools, resources, data and partnerships to further develop our combined analytics framework, enhance our models and extend our offerings into new asset classes and to more clients.”