MortgageHub Acquires Dynatek

In an attempt to expand further into the mid-tier, MortgageHub Inc., Conshohocken, Pa., has acquired loan origination vendor Dynatek, Livonia, Mich.The terms of the transaction were not disclosed. The acquisition comes on the heels of MortgageHub's acquisition of the London Bridge properties owned by Fair Isaac. With the Dynatek acquisition, MortgageHub says it now has 550 lender clients. The entire management staff at Dynatek will remain untouched, and the company will maintain its name, branding, and headquarters. MortgageHub said it will add additional sales people to Dynatek's staff and invest considerable research and development funds to speed up the rollout of Titanium, an update of Dynatek's core system that the company has been phasing in over the past year. Chetan Patel, executive vice president of mergers and acquisitions at ISGN Technologies, a major investor in MortgageHub, told Mortgage Wire that MortgageHub plans future acquisitions this year, with the goal of becoming a top-three technology company in the mortgage space within two years. MortgageHub can be found online at http://www.mortgagehub.com.