Milliman buys Blue Water MSR valuation, hedging unit from Apex Analytics

Consulting firm Milliman has acquired Blue Water mortgage servicing rights (MSR) valuation and hedging services from Apex Analytics Corp., adding another platform less than a year after buying MorVest Capital to expand its capabilities in the space. The transaction, announced Monday, folds Blue Water’s hedge analytics, trading platform and quantitative team into Milliman’s mortgage solutions practice. Financial terms were not disclosed. “Blue Water’s sophistication in MSR hedge analytics is an excellent complement to our deep mortgage advisory expertise,” Brett Ludden, managing director and head of mortgage solutions at Milliman, said in a statement. “The addition of Blue Water’s trading and quantitative analytics professionals further strengthens our growing mortgage solutions practice and enhances the value we deliver to our clients.” The acquisition is intended to expand Milliman’s MSR advisory and risk-management work, according to the company announcement. For Apex Analytics, formerly Voxtur Analytics, the divestiture supports its plan to concentrate investment on its core property intelligence and assessment technology business. “By streamlining our portfolio, we can accelera...