In The News

ADFITECH is the premier provider of quality control within the mortgage industry. We combine our state of the art technology with our personal attention to every loan, allowing us to meet each client’s unique needs.

Recent news events regarding Adfitech

April 22, 2016 - ADFITECH 2016 Conference Schedule

ADFITECH will be represented at the following upcoming events:

  • April 24-27 2016: Black Knight Users Conference, Orlando FL
  • May 1-4 2016: TMBA Annual Conference, San Antonio TX
  • May1-4 2016: MBA Legal Issues and Reg Compliance, Denver CO
  • May 9-10: OMBA Annual Conference, Tulsa OK
  • May 10-11: NRMLA Western Regional, Huntington Beach CA
  • May 15-18: MBA National Secondary Convention, NYC NY
  • September 28-30: MBA Risk Management and Quality Assurance Conf, Los Angeles CA
  • October 23-26: MBA Annual Convention, Boston MA

May 16, 2014 - ADFITECH Announces Stock Buyback Plan

May 16, 2014 - Edmond, Oklahoma - The Board of Directors of ADFITECH, Inc. has authorized the buyback up to 3 million shares of the Company's outstanding shares subject to market conditions. This amount represents 44.79% of the total amount of ADFITECH's currently outstanding shares. Any purchases of shares under this buyback will be dependent upon business and market conditions, in addition to other factors. The stock purchases may be made from time to time through open market purchases and/or privately negotiated transactions.

Founded in 1982, ADFITECH has earned an impeccable reputation in the mortgage industry as the premier provider of outsourced quality control. From its 20-acre corporate campus in Edmond, Oklahoma, ADFITECH's dedicated employees review and validate countless pieces of critical information vital to the well-being of an ever increasingly regulated mortgage industry. For more information on ADFITECH, visit our website at www.adfitech.com

April 23, 2014 - Dru Jacobs Elected President Of Adfitech Inc.

April 23, 2014 - Edmond, Oklahoma - The Board of Directors of Adfitech, Inc. ("Adfitech") is pleased to announce the selection of Dru Jacobs as its new President. Mr. Jacobs, 45, began his career with Adfitech in its mailroom 22 years ago and had steadily worked his way up to Executive Vice President, a post he has held for the past 11 years. Additionally, the Board of Directors has voted to change his previous status as an Advisory Member to the Board to a full voting member.

Mr. Jacobs remarked, "I am truly humbled by the support the Board has given me. Together with my experienced management team, that averages over 16 years of tenure with Adfitech, and our dedicated workforce, we look forward to continuing Adfitech's tradition of excellence."

Mr. Jacobs replaces longtime colleague and good friend Sam Meek as President and as a board member. Mr. Meek, 60, has also been with the company for 22 years and has served as its President for the last nine years. When asked about his decision to retire, Mr. Meek replied, "The difficult decision to leave and return to my home state of Texas was made a lot easier knowing that I am leaving Adfitech in the capable hands of Dru and the team of great employees. I wish them all the best."

Speaking on behalf of the company, Chairman of the Board and CEO, Jay H. Lustig, 59, stated, "Words cannot adequately express the appreciation the entire organization has for Sam's efforts as our President." Adding, "Adfitech is truly fortunate to have someone of Dru's industry expertise and skill set ready to seamlessly step in and guide the company through what has become a rapidly changing regulatory environment."

Founded in 1982, Adfitech has earned an impeccable reputation in the mortgage industry as the premier provider of outsourced quality control. From its 20 acre corporate campus in Edmond, Oklahoma, Adfitech's army of dedicated employees review and validate countless pieces of critical information vital to the wellbeing of an ever increasingly regulated mortgage industry.

July 11, 2012 - Adfitech Announces Extension of Tender Offer

July 11, 2012 - Edmond, Oklahoma - Adfitech, Inc. announced today that it has extended the expiration date of its previously announced tender offer to purchase for cash up to $5,000,000 aggregate principal amount (the "Maximum Purchase Amount") of its outstanding 8.0% Senior Secured Notes due 2020 (CUSIP No. 00687BAA3) (the "Notes") and a related consent solicitation to certain proposed amendments to the Indenture governing the Notes. The tender offer, which was to expire at 5:00 p.m., New York City time, on July 10, 2012, will now be extended to 5:00 p.m., New York City time, on July 13, 2012, unless the tender offer is terminated or further extended (the "Expiration Date").

As of 5:00 p.m., New York City time, on July 10, 2012, tenders have been received with respect to $931,639 principal amount of the Notes and consents have been received with respect to $5,905,426 principal amount of the Notes, which represents approximately 38.6% of the Notes outstanding. Except for the extension of the Expiration Date as described above, all other terms and conditions of the tender offer and consent solicitation remain unchanged. Holders that have previously tendered or provided consent with respect to their Notes do not need to re-tender their Notes or redeliver their consents or take any other action in response to this extension.

Adfitech, Inc is located in Edmond, Oklahoma on its 20 acre campus. The company and its over 600 employees are entering their fourth decade of providing Quality Control, Due Diligence, and Forensic Loan Reviews with the highest degree of professionalism in the industry.

August 22, 2011 - Thomas Apel Returns To ADFITECH, Inc.

August 22, 2011 - Edmond, Oklahoma - ADFITECH, Inc. is pleased to announce the return of its founder, Thomas G. Apel, to the company. As the mortgage industry continues to search for the new normal after the sub prime meltdown, ADFITECH is positioning itself to have an increasingly meaningful role in what is sure to be a much more accountable environment. ADFITECH's Chairman of the Board, Jay H. Lustig said, "I am absolutely delighted to welcome Tom back to ADFITECH. Given the ambitious projects we have in the pipeline, there is not a more qualified person to help orchestrate the significant initiatives we are undertaking."

Sam Meek, President of ADFITECH added, "Tom's background with the company, his knowledge of the industry and his familiarity with key personnel, allows us to bypass normal learning curves. Tom is able to hit the ground running at full speed." Of his return, Tom Apel said, "In spirit, I never really left. As the founder of ADFITECH, it is like having a child for whose success I have always rooted. But, to rejoin the company at such an opportunistic time, just adds to my enthusiasm."

ADFITECH is located in Edmond, Oklahoma on its 20 acre campus. The company and its nearly 500 employees are entering their fourth decade of providing services to the mortgage industry.