Lender Processing Services (LPS) has agreed to acquire LendingSpace, a provider of mortgage loan origination software.
LendingSpace has a correspondent lending platform that is Web-based to help retail originators and their correspondent lending partners work together. The platform offers loan registration, data and document integration, status and condition management.
The software also offers lead management, reverse mortgage and third-party vendor integrations capabilities. Lender Processing origination systems will use Loan Quality Gateway, a platform that helps originators comply with loan requirements.
The deal is expected to close later this month. Lender Processing, headquartered in Jacksonville, Fla., provides technology, data and analytics to companies in the mortgage and real estate industries.