Virgin Money USA, the Waltham, Mass., peer-to-peer loan-facilitating arm of Sir Richard Branson's Virgin Group PLC, said Monday that it acquired the assets of Lendia LLC, a mortgage origination outsourcing business focused on the broker market.
The acquisition is the loan facilitator's first since Virgin bought it last year. (Until the acquisition the facilitator was named CircleLending Inc.)
Lendia has been absorbed into Virgin Money. Greg O'Connor, Lendia's co-founder and chief executive, has become an executive vice president and continues to run the outsourcer's day-to-day operations from its Marlborough, Mass., headquarters. In a press release, he said the purchase gives his business access to Virgin Money's "social lending products."
Virgin Money said it will expand the outsourcer's lending capacity nationwide.
