HIGHLANDS RANCH, COLO., Aug. 17, 2018 – Computershare Loan Services (CLS), a global leader in mortgage servicing, today announced its intent to acquire LenderLive Network, LLC, a leading fulfillment and secondary market service provider in the U.S. mortgage industry. Founded in 1999, LenderLive Network (LLN) has offices in the Denver, Los Angeles and Jacksonville, Florida, areas.
This acquisition, which is subject to regulatory approvals, will further strengthen Computershare's growth in the U.S. mortgage services market, adding scale to our existing fulfillment and secondary market services provided by Capital Markets Cooperative and Credit Risk Solutions (formerly Altavera) and providing an additional source of new servicing volume.
LLN's private-label fulfillment team brings decades of experience to its clients, including financial institutions of all sizes. Their secondary market services will further enhance CLS's ability to work with both government-sponsored and private market investors.
"We're very excited to be bringing these LenderLive services 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."
LLN's fulfillment and secondary market teams are made up of about 480 employees, all of whom are expected to join CLS's U.S. staff of nearly 1,500 following the anticipated close of the acquisition in around four months.
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."
The regulatory approval process is expected to take about four months. LenderLive Holdings, the parent company of LLN, LenderLive Services and reQuire will not be part of this transaction.
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.
About LenderLive
As a trusted premier services provider, LenderLive 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 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.
###
For more information, please contact:
Lucy Newcombe
Corporate Communications Director
+44 (0)870 7030041
lucy.newcombe@computershare.com
Media Contact for LenderLive Holdings:
Bill Campbell
Campbell Lewis Communications
Bill@campbelllewis.com
212.995.8057