Computershare plans to bring LenderLive Network into the fold
Computershare Loan Services has agreed to acquire a loan fulfillment and secondary marketing unit owned by LenderLive Holdings in order to broaden its services along the full mortgage lifecycle.
Terms of the transaction were not disclosed. The sale is on track to close in the fourth quarter.
"The team at LenderLive Network has a strong client base and their outstanding products and people will be a natural fit for us as we continue to build a comprehensive mortgage service offering," said Computershare Loan Services CEO Nick Oldfield in a press release issued by the two companies.
"We believe LenderLive Network fits naturally into Computershare's strategy of growing its end-to-end mortgage business and the combined company will have greater scale and market opportunity," John Surface, president and chief operating officer of LenderLive Holdings, said in the press release.
The decision to sell LenderLive Network "grew out of our long-term strategic plan to invest in and build the company's services and technology businesses while finding long-term strategic capital sources or partners for the fulfillment and secondary marketing businesses," said LenderLive Holdings CEO Rob Clements in the release.
"Going forward, LenderLive Holdings will continue to offer a broad range of technology-enabled services through our LenderLive Services division and grow through strategic acquisitions like the recently closed Require Holdings transaction," Clements said.
Require Holdings offers real estate-related compliance, valuation and quality assurance services, including lien-release tracking.