Wipro to acquire Opus CMC

BANGALORE, INDIA & ILLINOIS, USA: Wipro Ltd has signed a definitive agreement to acquire Opus CMC (Opus Capital Markets Consultants LLC), one of the leading US-based providers of mortgage due diligence and risk management services for a purchase consideration of $75 million that includes a deferred earn-out component.

The acquisition will strengthen Wipro's mortgage solutions and outsourcing business and complement its existing offerings in mortgage origination, servicing and secondary market.

Founded in 2005 and headquartered in Lincolnshire, Illinois, Opus CMC provides comprehensive risk management solutions to the mortgage industry in the United States. It has over 490 employees, including over 315 loan underwriters, spread across 5 centers in the US.

Opus CMC offers operational and loan level due diligence, valuation support, forensic analysis, and advisory services on all classes of mortgage products, residential and commercial, ranging from re-underwriting whole loans to collateral reviews of securitized pools. Its customers include several of the top global banks, mortgage conduits, mortgage investors, and independent mortgage originators.