UniversalCIS buys SharperLending in third M&A since August
Credit report provider Universal CIS is moving into the appraisal technology side of mortgage origination with its acquisition of SharperLending.
SharperLending's primary offering is Appraisal Firewall, which can be used for both residential and commercial valuations. The company also offers credit reporting system XpertOnline, and the EPN loan origination and settlement service technology. SharperLending will operate as an independent business unit under the new ownership.
"This partnership will provide enhanced workflow tools for our clients, and greater value and a deeper level of integration in the mortgage origination process," Perry Steiner, chairman of UniversalCIS, said in a press release. "Our primary focus will be to accelerate the level of technology investment in SharperLending's software products."
This is UniversalCIS' third acquisition since August 2020. It was still known as CIS Credit Solutions at that time, announcing its merger with another credit report provider, Advantus. Then in October, it acquired Universal Credit Solutions. The merged companies officially rebranded as UniversalCIS on Jan. 12, renaming its technology system to Advantus in honor of the 75-year history of that brand.
"We plan to integrate and leverage the SharperLending technology in all aspects of our business as we continually strive to increase efficiency in the mortgage origination process," said UniversalCIS CEO Jerry Haftmann.
The price paid for SharperLending was not disclosed.
"As a private company for over 30 years, we were very careful and deliberate in choosing our partner for our future growth, and we anticipate great things together with UniversalCIS," said Dave Black, the founder of SharperLending.