Narrow Gauge Capital acquires Inco-Check

Private equity firm Narrow Gauge Capital (NGC) acquired Inco-Check, LLCa provider of mortgage loan quality verification software and fraud prevention services.

Founded in 2000, Irvine, Calif.-based Inco-Check leverages its proprietary web-based platform to meet the requirements of GSE, regulators and investors. With NGC’s acquisition of Inco-Check, the company aims to improve loan quality and prevent fraud in a competitive mortgage and consumer loan market, Inco-Check said. The terms of the contract are not disclosed.

Citing Inco-Check’s customer service and in-depth reporting services, Adam Doctoroff, partner at NGC, said the firm wants to “help shape the future of loan quality and fraud detection for the mortgage sector”. Inco-Check offers nine software solutions, including loan servicing audits and fraud risk management solutions to banks, credit unions and lenders nationwide, according to its website.

“Inco-Check has not only developed proprietary technology to support its customers, it also uses these same tools to provide a highly differentiated service offering, making it a one-stop-shop for software and technology services,” said said Michael Detwiler, who partnered with NGC for the acquisition, in a statement.

NGC, based in Boston, Massachusetts, founded in 2015, focuses on investments in healthcare services, financial services technology, distribution and logistics. In 2018, the firm acquired Class Appraisal, a provider of real estate asset appraisal and appraisal management solutions.

A group of investors led by Ocean Avenue Capital Partners contributed equity to the transaction. Berkery Noyes & Co. and Keefe, Bruyette & Woods served as financial advisors to Inco-Check Winston & Strawn served as legal counsel to NGC.

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