Milliman has acquired from Apex Analytics the Blue Water mortgage servicing rights valuation and hedging business. This was the only portion of Blue Water included in the transaction, said Brett Ludden, managing director and head of mortgage solutions at Milliman. "There are a small number of companies in the United States that have expertise in MSR advisory, and Blue Water is one of them," Ludden said in an interview. Brett Ludden of MillimanGoing forward, this will be rebranded as the Milliman MSR advisory business, because Apex is retaining other parts of Blue Water, he added. In 2022, Rice Park Capital sold Blue Water Financial Technologies to Voxtur for $101 million in cash and stock.