SitusAMC transforms warehouse lending with turnkey solution

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Best-in-class. Market-leading. One-stop-shop. SitusAMC is on a mission to create a suite of warehouse lending products and services that fulfill these descriptors, and the dedicated team moves the needle on that goal every day

SITUSAMC DOES things differently – and much of its success comes down to its people. The warehouse financing and custodial solutions team is a prime example, with a depth of knowledge and experience that can only be accrued by “sitting in the seats,” says managing director and head of department Anthony Beshara. “We’ve not only performed the day-to-day we’ve also been part of building and operating businesses in the warehouse space,” he explains, adding that they’ve taken the robust foundation that great developers and programmers created on the tech side and, over the last few years, built up business and operational expertise.

SitusAMC is a leading independent provider of technology, strategic outsourcing, talent, and advisory solutions to the commercial and residential real estate finance industries. The company helps clients identify and capture opportunities in their real estate businesses through industry-leading services and innovative technologies that drive operational efficiency, increase business effectiveness, and improve market agility across the entire life cycle of their global real estate activity. For more information visit www.SitusAMC.com.

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“Through the resources we’ve developed and key hires we’ve made, we improved our institutional knowledge from how we communicate to how we think about things”

Anthony Beshara, SitusAMC

“Through the resources we’ve developed and key hires we’ve made, we improved our institutional knowledge from how we communicate to how we think about things. It’s all in alignment with our goal of helping clients increase revenue, reduce costs, and be able to scale their businesses. We deliver a turnkey, total warehouse finance solution.”

Beshara joined SitusAMC in 2021, bringing with him over two decades of experience in mortgage banking, financing, whole-loan trading, and institutional sales. From launching businesses to scaling platforms, all while navigating complex markets, he boasts an impressive track record of business-building, innovation, and delivering value across the sector. Beshara helped establish UBS’s non-agency mortgage business in 2003 and built it from the ground up to a $100 million revenue franchise by 2008. He then went on to manage nearly $1.5 billion in distressed residential mortgage funds as a

co-founder and operator of Selene Residential Mortgage Opportunity Funds (which achieved double-digit returns by 2014) and revitalize Barclays’ mortgage business post-crisis into a $20 billion warehouse lending franchise. At that point, Beshara “was at a point in my career where I wanted to go build the next thing.” “Looking back over the course of my career, it occurred to me that building franchises and overcoming obstacles got me to where I am today, and it’s what drives me,” he says. “I’ve touched on a lot of areas within the mortgage field and am fortunate to have had various perspectives, and that’s given me a solid understanding of what motivates all the different players in this industry.” Following SitusAMC’s acquisitions of SRG and MBMS, Beshara leveraged his skills by institutionalizing ProMerit, a warehouse financing platform, and emBTRUST, geared toward custodians. Currently in its fourth major technology overhaul, over the last two years Beshara and his team have taken those two platforms from on-prem to SaaS. To round out the suite of services, in 2022 they launched a warehouse administration service business primarily focused on supporting ProMerit clients. Streamlining infrastructure by switching to cloud-based software and complementing that further with a service business that’s flexible, adaptable, and scalable drives growth for all sides and adds significant value for SitusAMC’s clients. With less on their plates in terms of backend day-to-day operations, they’re afforded the luxury of more time to be proactive with their own clients, deepen existing relationships, and focus on strategy. “I’m proud to say that we’ve been able to help clients reduce their operational costs by 25 to 30 percent, which is huge,” Beshara says. “We’re always looking to create solutions that meet their needs.”

On the heels of rising interest rates, there were a few quarters of stagnant volume as the industry recalibrated. As people waited for the dust to settle to determine their next moves, the dynamic market saw many warehouse lenders opt to expand books of business and new franchises coming in with a wider appetite. This more holistic approach fits well with what SitusAMC has done with its technology and its service option, from expanding collateral subgroups within ProMerit to encompass more product area to shifting to standardized data sets across mortgage-related asset classes. Beshara references case studies with warehouse lender startups in which the time from signing the contract with

“We’re already market-leading, but that’s not enough; we want to be the premier option. We aim to deliver a one-stop-shop product and service to the market that’s head and shoulders above what else is out there”

Anthony Beshara, SitusAMC

“The clients using our products and services are growing exponentially,” he says, adding that as his team provides the configuration and operational services, they in turn become more knowledgeable in setting up and executing day-to-day management of those facilities. For example, the potential risk of fraud increases as people deal with more and different counterparties, requiring more controls. To respond to this concern, ProMerit rolled out a strategic integration with FundingShield. In another example, as the market ramps up, there’s also an integration with Snapdocs. Both are supported by a variety of resources, such as podcasts and webinars, to ensure client education.

“It’s a feather in our cap that we are not only developing a best-practices approach but also providing best-in-class expertise in these different, nuanced product areas,” Beshara says. “We’re already market-leading, but that’s not enough; we want to be the premier option. We aim to deliver a one-stop-shop product and service to the market that’s head and shoulders above what else is out there – and our clients benefit from the results.”

A track record of business-building, innovation, and delivering value

A very dynamic market

Published Jan 13, 2024

SitusAMC to funding that first loan is less than 90 days – an unheard-of timeline, with the previous average length, including at SitusAMC before its recent changes, being a year or more. Bringing clients to market that quickly is significant, Beshara notes, because when building a new franchise, clients are trying to prove to all stakeholders they can run a profitable business. The farther along the curve you go in terms of the time it takes to achieve that, the more you run the risk of tarnishing your credibility – not to mention running up expenses for long periods.

To learn more about SitusAMC, what they offer in the field of warehouse lending, and how you can achieve best-in-class results for your business, reach out today.

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Why invest in a warehouse lending platform?

45% of work activities can be automated using ProMerit

Clients using the administration service report a 25–30% reduction in operational costs

Average cost of a data breach in the US is $9.48 million

Efficiency

Security

Cost benefit

Warehouse Lending System facts

Years providing warehouse lending technology

Share of the warehouse lending market

Warehouse lenders in the US using SitusAMC

25+

24%

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BEST IN MORTGAGE

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