Two Vendor Management Companies Combine

Mortgage Settlement Network LLC, Pittsburgh, Pa. has acquired Mortgage Lenders Service Connection, a vendor management company headquartered in Cranberry Township, Pa. MSLC was owned by Ronald Wellman and was established in 2004. The financial terms of the deal were not disclosed. All MLSC employees will be retained and moving into the MSNi offices. MSNi is a national vendor management company. In addition to offering traditional title, closing and appraisal services nationally, MSNi also offers other solutions to assist lenders to streamline their operations and also generate additional revenue sources. Further, MSNi offers lenders an e-closing program that enables lenders to close loans electronically and then sell them to Fannie Mae on a flow basis. In addition, MSNi offers a commercial loan settlement services package of services: appraisal, title, closing, survey, EPA reports, all bundled together. The company can be found on the Web at http://www.msnillc.com.