Mortgage servicing company Computershare Loan Services has entered an agreement to acquire LenderLive Network, the mortgage fulfillment and secondary marketing division of LenderLive Holdings.
The sale, which is subject to regulatory approvals, is expected to close in the fourth quarter.
"We're very excited to be bringing LenderLive Network into the Computershare family," Computershare Loan Services CEO Nick Oldfield said. "The team at LenderLive Network has a strong client base, and their outstanding products and people will be a natural fit for us as we continue to build a comprehensive mortgage service offering."
"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,” LenderLive Holdings President and COO John Surface said. “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."
LenderLive Holdings CEO Rob Clements said the transaction is part of the company’s long-term strategic plan to invest in and build the company's services and technology businesses.
“Going forward, LenderLive Holdings will continue to offer a broad range of technology-enabled services through our LenderLive Services division and grow through strategic acquisitions like the recently-closed Require Holdings transaction," Clements said.
LenderLive Holdings is the parent company of LenderLive Services, LenderLive Network, and Require Holdings. LenderLive Holdings, LenderLive Services and Require Holdings will not be part of the transaction.
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