Setpoint, a technology infrastructure company for asset-backed lending, announced on Tuesday the acquisition of Resolute Diligence Solutions, a leading due diligence provider focused on single family rental (SFR) and residential transition loans (RTL).
The strategic acquisition aims to combine Resolute’s industry expertise with Setpoint’s advanced technology to revolutionize fintech lending.
“Resolute is highly complementary to the Setpoint platform and, when combined, is far and away the best-in-class solution for capital markets borrowers and lenders. A clear example of 1 + 1 = 4,” said Setpoint Chief Investment Officer Michael Lam.
Resolute, founded by Brent Taggart and Richard Lundbeck, has rapidly emerged as a prominent diligence firm in SFR and RTL transactions. Their commitment to customer satisfaction and extensive industry experience have driven their rapid expansion and established them as the preferred partner for lenders and originators, the company said.
The transaction services and customer support provided by Resolute will remain a crucial aspect of the combined Setpoint and Resolute offering.
The current lending system, which underpins significant consumer transactions such as home purchases and credit card usage, relies on a complex network of trust and credit.
Billions of dollars flow daily between warehouse lenders and loan originators, often relying on outdated tools like email, Excel, paper documents, and software developed decades ago. This outdated system leads to errors and inefficiencies, driving up costs for lenders and borrowers and limiting access to credit and trust for consumers and businesses.
“We first learned about Resolute from our customers – the largest lenders and originators in the world consistently told us they loved working with Resolute. We realized that adding Resolute to the Setpoint platform would create an integrated, all-in-one solution that will revolutionize capital markets operations,” said Setpoint CEO Stuart Wall.
Setpoint has developed lightning-fast and accurate infrastructure that enhances credit availability and increases the liquidity of underlying assets and loans, ultimately reducing costs for lenders and borrowers. It offers a range of services, including:
- Third-party verification services:
- Diligence Agent: Provides fast, accurate, and streamlined certification of collateral documents.
- Calculation and Paying Agent: Offers accurate certification of borrower’s funding request and collaborates with Account Banks to facilitate fund movement.
- Capital markets operating software:
- Portfolio Manager: Enables real-time monitoring, forecasting, and optimization of capital usage, automated borrowing base calculations, and compliance triggers.
- Collateral Manager: Tracks data, documents, lender requirements, and operational workflows throughout an asset’s funding lifecycle.
- Valuations Manager: Streamlines and automates BPO, Appraisal, and AVM fulfillment.
Setpoint, established in 2021, serves as the foundation and platform that empowers originators and lenders to optimize their operations and provide next-generation credit options to consumers. Resolute Diligence Solutions specializes in providing comprehensive asset level reviews for single family rental, fix and flip, and transportation transactions.
This content was generated using AI, and was edited and fact-checked by RealTrends’ editors.
