Carrington completes acquisition of Valon Mortgage

Carrington Mortgage Services announced on Tuesday that it completed its acquisition of Valon Mortgage from Valon Technologies, adding approximately 810,000 loans to its servicing portfolio and expanding its use of Valon’s artificial intelligence-native servicing technology. The deal, announced in May of this year, brings together Carrington’s government mortgage servicing expertise and operational scale with ValonOS, the technology platform developed by Valon for mortgage servicing. Carrington will use ValonOS as its core servicing platform under the companies’ strategic partnership. The combined servicing portfolio is expected to approach 2 million loans, and the transaction expands Carrington’s servicing capabilities through Valon Mortgage’s subservicing relationships and asset acquisition operations. “The completion of our acquisition of Valon Mortgage marks an important milestone in Carrington’s growth strategy,” Andrew Taffet, CEO of The Carrington Companies, said in a statement. “After spending more time with ValonOS and seeing how it handles the complexity of government servicing, I am more convinced than ever that it is the right platform for Carrington’s next chapter.” Taf...