in News > Residential Mortgage

Seeking to bolster its content and service offerings, software maker Ellie Mae has signed a definitive agreement to acquire housing data and analytics firm AllRegs for about $30 million.

"AllRegs has built a strong reputation as the industry's source for investor guidelines, compliance resources and education," says Sig Anderman, CEO of Ellie Mae, in a statement. "With the acquisition of AllRegs, Ellie Mae will expand its customer base and add a broad array of content and services that complement our portfolio of product offerings. This strategic acquisition enhances Ellie Mae’s compliance leadership and furthers our goal to be the company that powers the entire mortgage industry."

AllRegs claims its information management solutions are used by more than 3,000 companies representing every facet of mortgage banking, including lenders, investors, regulators, brokers, mortgage services companies, law firms, and federal and state agencies. It also offers education and training, as well as information on loan products and industry guidelines. This includes the AllRegs online reference library, which covers investor underwriting and insuring guidelines, federal and state statutes and regulations.

The transaction is expected to close within 90 days and is subject to the usual regulatory approvals.

Ellie Mae says the purchase is expected to have minimal impact on its third quarter results.


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