Lender Processing Services, Inc. (LPS) on Tuesday announced the acquisition of LendingSpace, a provider of mortgage loan origination software solutions.
The LendingSpace technology platform will augment Lender Processing Services' 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 mortgage lenders, credit unions and community banks that leverage more standardized technologies.
"The addition of LendingSpace's robust capabilities expands the number of innovative origination solutions we offer lenders," said Jerry Halbrook, LPS' senior managing director of LPS Origination Technology Solutions. "We evaluated a number of lending platforms and LendingSpace provided the best product features with the necessary scalability to expand our product suite. More importantly, LPS and LendingSpace share a common commitment to excellence, integrity and customer dedication."
The acquisition is scheduled to close later this month.
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