Lender Processing Services Inc., a provider of technology, data and analytics solutions for the mortgage and real estate industries, has acquired LendingSpace, a mortgage loan origination software company.
The LendingSpace product suite features a correspondent lending platform, including full Web-enabled capabilities to enhance collaboration between retail originators and their correspondent lending partners. The product also features lead management capabilities, reverse mortgage product capabilities and third-party vendor integration.
The LendingSpace technology platform will augment LPS' origination technology, which includes 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.
LPS says the deal is scheduled to close later this month.