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Opus
Forms International Due Diligence Affiliate
For
immediate release - April 30, 2008
Download in Word
Format
Opus Capital
Markets Consultants, LLC (“Opus CMC”) has established an
affiliate company to conduct due diligence reviews
outside of the United States. The new entity is called
Opus International CMC, Inc. (“Opus International”).
Scott Whipple was named President of Opus International.
He brings 26 years of experience in mortgage operations,
auditing, and trading, having worked at the Federal Home
Loan Banks, GNMA, and Fannie Mae. Scott has a degree in
international economics, and his work at Fannie Mae
included several international consulting engagements.
Opus International is focused initially on Latin America
and Europe – markets where the firm has the most
expertise. The company will provide due diligence and
consulting services for mortgages and consumer loans,
both performing and distressed. According to Mr.
Whipple, Opus International plans “to use a combination
of local and US-based underwriters and reviewers on
international engagements to provide multiple
perspectives on risk.”
Opus CMC was formed in 2005, originally performing due
diligence in the United States. The privately-held
firm’s business grew steadily as Opus developed a
reputation for delivering high quality results. In 2007,
Opus CMC was recognized as one of the top 10 due
diligence firms by DBRS Rating Agency.
“Moving into international markets is a logical
extension of the business,” according to Joe Andrea, one
of Opus CMC’s founders. Many, if not most, investors,
securities dealers, banks, and non-bank lenders have
become multi-national, so there is a need for
cross-border due diligence services. While the
securitization volume of new loans has decreased,
portfolios of existing loans and securities are still
being traded. With liquidity tight and fears of credit
risk highly justified – especially in housing markets –
the need for credit and fraud reviews is greater than
ever. Opus also handles reviews of investor rights to
get sellers to repurchase loans, based on
representations about loan assets made at time of sale.
Opus International and Opus CMC share a common corporate
headquarters in Lincolnshire, Illinois. Lincolnshire is
also the site of Opus International’s North American
operations, while the firm will handle Latin American
operations from their Tucson, Arizona office. Opus
International also plans to open an office in London to
support European operations, later in 2008.
Contacts:
Scott Whipple, Opus International. Tel: 1.224.632.1300
email:
scott@opuscmc.com
Joe Andrea, Opus CMC. Tel: 1.224.632.1300 email
joe@opuscmc.com
Opus International web site:
www.opusinternational.net
Opus CMC web site:
www.opuscmc.com
100 Tri-State International, Suite 140
Lincolnshire, Illinois 60069 USA
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