The mortgage technology developer Calyx Software has acquired Loan-Score Decisioning Systems Inc., whose offerings include a product and pricing engine, an automated underwriting system and an eligibility decision aid for Federal Housing Administration loans.
Calyx is based in San Jose, Calif., and has an office in Dallas. It is to begin immediately integrating Irvine, Calif.-based Loan-Score's operations.
The purchase includes Loan-Score's assets and business, and the company said it will be business as usual for Loan-Score customers, with contact numbers and personnel remaining unchanged.
The deal was closed Dec. 20. Loan-Score's 11 employees technically were laid off on Wednesday but rehired on Thursday by Calyx.
Bill McCord, Loan-Score's previous owner, will no longer be involved in the business.
The move puts Calyx squarely in the budding mergers and acquisition activity continuing in the mortgage business.
Its competitor, Ellie Mae, has acquired multiple technology vendor companies.