UniversalCIS, a provider of credit data and related origination solutions in the mortgage industry, and Credit Plus, a mortgage verification and business credit report provider, are merging their companies. As a result, the new company will serve over 6,500 clients in the North American mortgage market, including banks, non-bank mortgage lenders, credit unions and mortgage brokers.
Credit Plus brings over three decades of experience assisting more than 2,500 lenders with its information and verification services throughout the mortgage origination process. UniversalCIS has over 4,000 clients and utilizes a proprietary technology platform that offers credit data and origination solutions and serves as the first interaction point for clients in the loan application process. The merger represents UniversalCIS’ latest milestone as the company continues to execute its growth strategy following the acquisitions of Universal Credit, CIS Credit, Avantus, DataFacts and SharperLending as well as an investment from Lovell Minnick Partners earlier this year.
The combined business will have over 750 employees and will maintain all of its current operations centers in 12 states. UniversalCIS and Credit Plus will initially retain their brands and gradually combine their operations with plans to rebrand the new company in the future. The business will be headquartered in Philadelphia and led by the combined executive teams of UniversalCIS and Credit Plus. UniversalCIS Chairman Perry Steiner will become chairman and CEO of the business and Jerry Haftmann will become vice chairman. Credit Plus’ CEO Greg Holmes will become chief revenue officer.
“Credit Plus and UniversalCIS are widely recognized in the mortgage industry for providing best-in-class service and support during every stage of the mortgage origination life cycle,” says Steiner. “This merger emphasizes our commitment to providing our clients with the best technology, service and solutions to meet all of their needs, and we look forward to working with the Credit Plus team as we continue to accomplish this mission.”
“We are extremely proud of all that Credit Plus has achieved and believe that UniversalCIS’ culture and values align well with our company,” states Holmes. “Better together, we share a common vision for transforming verifications and insights to better serve all lenders and their borrowers. This transaction accelerates our shared focus of becoming the leading market provider. We look forward to continuing to provide excellent customer service and prioritizing our ability to deliver innovative solutions alongside the UniversalCIS team.”
“UniversalCIS has demonstrated its unique and impressive ability to scale and execute against its growth objectives,” adds Jason Barg, partner at Lovell Minnick. “This merger with Credit Plus, another impactful player in the mortgage industry, positions the combined company for continued growth and success, and we look forward to continuing our partnership with Perry, Greg, Jerry and the senior management team.”
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