zIngenuity Acquires Irwin Reinsurance Corporation
Dallas, TX, June 18, 2013 --(PR.com)-- zIngenuity, Inc., a boutique consulting firm that provides
mortgage fulfillment, quality control, and repurchase defense for mortgage lenders and servicers, has
acquired Irwin Reinsurance Corporation (“IrwinRe”), a Vermont domiciled captive reinsurance company
and merged it into zInsureRe, Inc. (“zInsureRe”), a Cayman Islands based, indirect wholly-owned
subsidiary of zIngenuity.
“We established zInsureRe in 2012 to serve as an acquisition vehicle for lender captives that are in
run-off. Earlier this year we completed another acquisition and continue to actively bid as the sole
acquirer on smaller sized transactions and in partnership with private investors for deals with asset sizes
in excess of $10 million,” said Steve Beagles, Managing Director of zIngenuity, Inc.
“Recent CFPB mortgage insurance company settlements have made future commutations highly unlikely,
leaving a lender with little option beyond a lengthy run-off. We provide lenders with an attractive
monetization alternative and have developed a standardized bid package which allows us to quickly
evaluate and bid on captives of all sizes at a time when no active market exists,” added David Reber,
President and CEO of zIngenuity, Inc.
In addition to zIngenuity's investment division activities, the firm continues to grow its service offerings
in mortgage fulfillment and quality control audits in response to changes in the market and in support of
zIngenuity, Inc. was founded in 2005 by industry veterans David Reber and Scott Allen. The initial
business focus was to maximize revenue or reduce risk on 1st and 2nd lien mortgages by utilizing
mortgage insurance and captive reinsurance companies. In 2009, the firm expanded its services to include
defending clients against mortgage insurance rescissions and denials, as well as investor repurchase
demands. Recently, the firm leveraged its expertise in repurchase demand defense and further expanded
its services to include mortgage fulfillment and quality control offerings.
To learn more about zIngenuity, visit our website at www.zingenuity.com.
Contact via Email
Bob Voll, VP Business Development, Bob.Voll@zingenuity.com
Online Version of Press Release:
You can read the online version of this press release at: http://www.pr.com/press-release/498115