Investment Analyst

Setpoint, the operating system for asset-backed finance, today announced that it has signed an agreement to acquire inTENT Fulfillment, a specialized loan di...

Setpoint acquires inTENT Fulfillment, expands secondary market approval capacities. Setpoint, an operating system for asset-backed finance, announced on Tuesday its plans to acquire inTENT Fulfillment, a loan diligence and transaction management firm. With inTENT, Setpoint said it will become "rating agency - approved" across a wide range of residential mortgage and real estate - backed asset classes - including non-QM, prime jumbo, debt-service-coverage ratio, residential transition, single-family rental and closed-end second loans, as well as home equity lines of credit and reverse mortgages. Setpoint said the approvals will span major ratings agencies, including Morningstar DBRS, KBRA, Moody's, Fitch Ratings and S&P Global. Setpoint, which serves more than 200 customers and supports more than 14 asset classes through its software platform for asset-backed finance, provides technology-enabled diligence and verification services designed to speed loan reviews. The company uses AI-assisted document verification, centralized collateral management, and upfront visibility into guidelines and ratings agency eligibility. "The future of diligence is built on better infrastructure," said Stu Wall, co-founder and CEO of Setpoint. "Setpoint brings infrastructure and technology to loan review, while inTENT adds decades of operating expertise and trusted agency relationships. Together, we're raising the bar for how diligence is delivered." As part of the deal, inTENT Fulfillment's leadership team, including Paul Marchese and Trey Beal, will join Setpoint. Marchese has nearly five decades of experience in mortgage banking and capital markets. Before founding inTENT Fulfillment, he was a senior managing director at Clayton Services, where he helped to grow the firm's annual revenue from about $8 million to more than $200 million while leading diligence programs for major U.S. and global financial institutions. Beal has 25-plus years of experience in the residential mortgage secondary market, including about 20 years at Clayton in roles overseeing diligence, quality control and transaction management teams. He later served as chief operating officer at Recovco Mortgage Management before co-founding inTENT Fulfillment. "Setpoint is a clear leader in applying advanced technology to operations and risk management in asset-backed finance," Marchese said. "Combining this modern infrastructure with inTENT's experience is the next step in fulfilling the original objectives set by our founding investors: to build the next generation of loan review and transaction management capabilities." The acquisition is still subject to regulatory approval and other conditions.