LenderLive Holdings has agreed to sell LenderLive Network LLC, its mortgage fulfillment and secondary market unit, to Computershare Loan Services. No financial terms were disclosed. LenderLive Holdings is a portfolio company of Aquiline Capital Partners.
DENVER, Aug. 17, 2018 /PRNewswire/ — LenderLive Holdings, the parent company of LenderLive Services, LenderLive Network and Require Holdings, announced today that it has entered into an agreement to sell LenderLive Network, LLC (LLN), its mortgage fulfillment and secondary marketing division, to Computershare Loan Services, a global leader in mortgage servicing.
Commenting on the deal, Rob Clements, chief executive officer of LenderLive Holdings, said: “The decision to sell the Network division grew out of our long-term strategic plan to invest in and build the company’s services and technology businesses while finding long-term strategic capital sources or partners for the fulfillment and secondary marketing businesses. Going forward, LenderLive Holdings will continue to offer a broad range of technology-enabled services though our LenderLive Services division and grow through strategic acquisitions like the recently-closed Require Holdings transaction.”
John Surface, president and chief operating officer of LenderLive Holdings added: “We believe LenderLive Network fits naturally into Computershare’s strategy of growing its end-to-end mortgage businesses and the combined company will have greater scale and market opportunity. This transaction will position the Network division’s clients, associates and partners for continued success while allowing LenderLive Holdings to execute strategic growth plans in its remaining business lines.”
“We’re very excited to be bringing LenderLive Network into the Computershare family,” said Nick Oldfield, CEO of Computershare Loan Services. “The team at LenderLive Network has a strong client base, and their outstanding products and people will be a natural fit for us as we continue to build a comprehensive mortgage service offering.”
The sale, which is subject to regulatory approvals, is expected to close in the fourth quarter of 2018. LenderLive Holdings, LenderLive Services and Require Holdings will not be part of this transaction.
About LenderLive Holdings
As a trusted premier services provider, LenderLive Holdings, through its LenderLive Services, Require Holdings and LenderLive Network subsidiaries, partners with financial companies to transform their day-to-day operations by delivering technology-enabled outsourced solutions that improve efficiencies, reduce operational errors, and mitigate compliance risk. The company’s solutions are designed to work together or can be tailored to meet client needs. As a proven partner, clients rely on LenderLive daily for thousands of high-quality transactions and notifications for their valued customers.
LenderLive Holdings is a portfolio company of Aquiline Capital Partners, a New York-based private equity firm investing in financial services. For more information about the company and its services, visit www.lenderlive.com.
About Computershare Loan Services (CLS)
Computershare Loan Services (CLS) is a leading international third party mortgage services provider. We currently service over $100 billion of loans globally and support hundreds of thousands of customers throughout the lifecycle of their loans. We provide a variety of services including credit risk solutions, secondary market services, property solutions and third-party servicing. We also operate a mortgage cooperative that gives middle market lenders increased buying power, and we help mortgage lenders and investors optimize the performance of their portfolios. Our expertise, experience and understanding of the regulatory environment, credit and complex financial data help us provide insight and cost-effective services to mortgage originators, investors and real estate professionals. CLS is part of the Computershare group of companies.