Lender Processing Services Expands In Mortgage Originations With Deal For PCLender.com
LPS was spun off in 2008 from Fidelity National Information.JACKSONVILLE, Fla. – Lender Processing Services, the mortgage servicing giant spun-off from Fidelity National Information Services, said this morning it has acquired PCLender.com Inc., a provider of enterprise, Web-based mortgage lending solutions and a complete loan origination system popular with credit unions.
LPS said the deal complements its core loan origination platform, LPS Empower, and expands the company's reach in the loan origination market.
LPS Empower will continue to target large national and regional mortgage lenders as the optimal solution for its loan origination platform. PCLender.com offers a more cost-effective solution for smaller and mid-sized mortgage companies, credit unions and community banks. Both technologies are fully-hosted ASP solutions, providing greater efficiencies, controls and security options for the mortgage lending industry.
"The acquisition of PCLender.com will accelerate our growth in the loan origination space by expanding our solutions suite to address the needs of all lenders, regardless of size," said Don Covey, managing director of Lender Processing Services' Origination Technology Solutions Division. "The addition of PCLender.com gives LPS the opportunity to support more lenders with innovative technology to streamline efficiency, reduce costs and provide even better customer service."
LPS was spun off in 2008 from Fidelity National Information.