Chrysalis Holdings Sells Interest In LendingSpace Partners To Lender Processing

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8/21/2012 12:43 PM ET

Chrysalis Holdings, LLC, said Tuesday that it has sold its interest in LendingSpace Partners, LLC, a mortgage loan origination software solutions provider, to Lender Processing Services, Inc. (LPS: Quote)

LendingSpace has been serving as the technology provider for NewDay USA, LLC, a leading mortgage lending company in government loan originations and a key holding of Chrysalis Holdings, since 2007.

NewDay USA will continue to use LendingSpace's technology as the loan origination system for its retail lending and correspondent lending channels.

Ravi Varma, who founded LendingSpace Partners in 1999 and served as its chief executive officer, has joined the team at Lender Processing Services, Inc.

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