LenderLive Holdings has entered an agreement to sell its LenderLive Network division to Computershare Loan Services, a mortgage servicing solution.
The company decided to sell the Network unit as part of its long-term strategic plan to build up services and find strategic capital sources or partners. Following the closing of the deal, LenderLive Holdings will continue to offer solutions and grow through strategic acquisitions.
LenderLive Holdings operates through its LenderLive Services and Require Holdings subsidiaries. Its solutions provide financial companies with technology to improve the day-to-day operations to improve efficiencies, lower operational errors, and mitigate compliance risk.
Computershare Loan Services is a third-party mortgage service provider, which currently services more than $100bn in loans around the world. The company offers a mixture of solutions, including credit risk, secondary market services, and third-party servicing.
LenderLive Holdings president and COO John Surface said, “We believe LenderLive Network fits naturally into Computershare’s strategy of growing its end-to-end mortgage businesses and the combined company will have greater scale and market opportunity.
“This transaction will position the Network division’s clients, associates and partners for continued success while allowing LenderLive Holdings to execute strategic growth plans in its remaining business lines.”
Earlier in the week, the personal finance platform Credit Karma acquired online mortgage lending platform Approved, for an undisclosed amount.
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