Ellie Mae has agreed to purchase St. Louis-based Mortgage Returns, which provides customer-relationship management services.
Terms of the deal were not disclosed.
"CRM and marketing automation remain a key value proposition in our industry and with the acquisition of Mortgage Returns we are responding to the needs of our customers by adding a robust CRM solution for lenders of all sizes. This acquisition enhances our marketing platform and furthers our mission of automating the entire end-to-end mortgage process for our customers," said Ellie Mae President and CEO Jonathan Corr in a press release.
In January 2014, Ellie Mae acquired MortgageCEO, which also provides CRM and marketing automation; it was rebranded as Encompass CRM in March of last year.
The press release said Ellie Mae will comment on the synergies this deal brings in its third-quarter earnings conference call on Oct. 28.
