Sales Boomerang, which offers an automated borrower intelligence and retention system, is merging with Mortgage Coach, a platform empowering mortgage lenders to educate borrowers with interactive home loan presentations.
Terms of the deal were not divulged.
Richard Harris will serve as CEO of the combined company.
“Sales Boomerang and Mortgage Coach are both impressive, mission-driven organizations that have earned tremendous brand equity in the mortgage realm through their expert grasp of the industry and proven ability to deliver substantive value to mortgage lenders and borrowers,” Harris says in a release. “I look forward to bringing the organizations together and leveraging my background in data, analytics and insights to help mortgage lenders better understand their borrowers and provide personalized service that helps them attain their homeownership and financial goals.”
Previously, Harris was CEO at SparkPost, an email sending and optimization platform delivering 40% of the world’s commercial email. He led that company through tremendous growth and oversaw its $600 million acquisition by omnichannel communication platform MessageBird.
Before his tenure at SparkPost, Harris was group vice president at cloud technology company Oracle, where he led international operations of its data cloud business unit. He was previously CEO at consumer insights and digital ad personalization company AddThis, where he rapidly scaled the company and facilitated its acquisition by Oracle.
Sales Boomerang and Mortgage Coach have been working toward the merger since LLR Partners’ investment in the firms, which was announced in January.
Alex Kutsishin and Dave Savage, founders of Sales Boomerang and Mortgage Coach, will continue to actively nurture the company and its relationships in leadership roles.
“By bringing together the very best in database monitoring, market intelligence, automation, personalization and education, Sales Boomerang and Mortgage Coach deliver the short- and long-term financial results lenders crave,” says Kutsishin. “We are united in our mission to provide borrowers with the right loan at the right time, and I am confident we will reach new heights under Richard’s leadership.”
“Combining the advice-based digital presentations of Mortgage Coach with the big data borrower intelligence of Sales Boomerang enables us to create unprecedented opportunities for consumers to achieve financial freedom faster and to help lenders and loan officers to close more loans in this rising interest rate marketplace,” adds Savage. “Together we have the expertise, the synergy and the platform to put game-changing tools in the hands of our lenders and loan officers.”