Virgin Money Buys Lendia Assets

Lendia LLC, a Marlborough, Mass.-based provider of outsourced systems for residential mortgage originators, has announced the acquisition of the company's assets by Virgin Money USA, Waltham, Mass. The terms of the deal were not disclosed. Lendia's chief executive officer, Greg O'Connor, will serve as executive vice president of Virgin Money and continue to run the day-to-day aspects of the Lendia business, the company said. "Joining the Virgin Money family will present us opportunities on many levels, including access to social lending products as well as the capacity and resources to enter new markets and expand our proprietary loan processing capabilities and lending capacity," Mr. O'Connor said. Lendia's business model is built around Comprehensive Outsource Solutions, a back-office system that can scale to meet the needs of any size mortgage originator, Lendia said. Virgin Money can be found online at http://www.virginmoneyus.com.