JACKSONVILLE, Fla. (7/6/12)--Lender Processing Services Inc. (LPS), a mortgage processor, has acquired LendingSpace, a provider of mortgage loan origination software.
The LendingSpace technology platform will augment LPS' other origination technology solutions, which include Empower, a platform used by mortgage lenders with complex system configuration and customization needs, and PCLender, which is used by credit unions, mortgage lenders and community banks that leverage more standardized technologies.
The LendingSpace product suite features a correspondent lending platform, including full Web-enabled capabilities to improve collaboration between retail originators and their correspondent lending partners. These capabilities include loan registration, data and document integration, status, condition management, funding and secondary market and investor delivery capabilities, which are critical to the success of correspondent lenders, said the companies.
The LendingSpace product suite also features lead management capabilities, reverse mortgage product capabilities and third-party vendor integrations. All LPS origination systems, also will incorporate LPS' Loan Quality Gateway to assist originators with their loan-quality requirements.
The acquisition is scheduled to close later this month.