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Milliman buys Blue Water MSR valuation and hedging services from Apex
The deal, announced Monday, folds Blue Water’s hedge analytics, trading platform, and quantitative team into Milliman’s mortgage solutions practice, while financial terms were not disclosed.
Milliman has acquired Blue Water’s mortgage servicing rights, or MSR, valuation and hedging services from Apex Analytics, adding hedge analytics, a trading platform, and a quantitative team to its mortgage solutions practice. The transaction was announced Monday, and financial terms were not disclosed.
In a statement, Brett Ludden, managing director and head of mortgage solutions at Milliman, said Blue Water’s MSR hedge analytics complement Milliman’s mortgage advisory expertise, and that the added trading and quantitative professionals strengthen the firm’s work for clients.
Milliman said the acquisition is intended to expand its MSR advisory and risk-management services. The Blue Water hedge analytics platform will be combined with Milliman’s mortgage behavior modeling, quantitative analytics, hedging strategies, software development, and data science capabilities.
For Apex Analytics, formerly Voxtur Analytics, the divestiture supports a plan to focus investment on its core property intelligence and assessment technology business. CEO Ryan Marshall said streamlining its portfolio helps accelerate work on assessment software, artificial intelligence, data analytics, and workflow automation, while moving the Blue Water MSR business to a firm aligned to mortgage servicing risk priorities.