Mortgage servicer Computershare Loan Services is acquiring LenderLive Network’s fulfillment and secondary market services for an undisclosed sum.
Computershare says the acquisition, which is subject to regulatory approvals, will add scale to its existing fulfillment and secondary market services, provided by subsidiaries Capital Markets Cooperative and Credit Risk Solutions (formerly Altavera), as well as adding new mortgage servicing volume.
Compuershare points out that LenderLive’s private-label fulfillment team has decades of experience and has served financial institutions of all sizes.
In addition, LenderLive’s secondary market services will enable Computershare to work with both government-sponsored and private market investors.
“We’re very excited to be bringing these LenderLive services into the Computershare family,” says Nick Oldfield, CEO of Computershare Loan Services, in a release. “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.”
LenderLive’s fulfillment and secondary market teams are made up of about 480 employees, all of whom are expected to join Computershare’s U.S. staff of nearly 1,500.
John Surface, president and chief operating officer of LenderLive Holdings, says, “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 is a portfolio company of Aquiline Capital Partners, a New York-based private equity firm investing in financial services.