Altisource Portfolio Solutions SA has announced that it has entered into a definitive agreement to acquire Mortgage Builder Software Inc. Combined with the recent acquisition of Equator LLC, this addition will extend Altisource’s position as a market leader for real estate and mortgage lifecycle management technologies and marketplace services and will further diversify its customer base by providing software solutions to leading mortgage banks, credit unions and financial institutions in the United States. The acquisition is expected to close within 30 days and is subject to customary closing conditions.
Mortgage Builder, which offers a full suite of Software as a Service (SaaS)-based mortgage solutions, has been consistently recognized as one of the Industry’s Top 50 Service Providers by SourceMedia’s Mortgage Technology Magazine.
“The addition of Mortgage Builder’s loan origination, servicing and electronic document management software enhances Altisource’s current portfolio which provides customers with one of the most comprehensive real estate and mortgage lifecycle management platforms and services marketplaces available," William B. Shepro, chief executive officer of Altisource said. "Mortgage Builder will join the Altisource family of businesses and operate within our Technology Services segment. Together, we will continue to develop innovative technology solutions that meet the evolving needes of the real estate and mortgage marketplaces.”
“Mortgage Builder and Altisource share a commitment to delivering a modern technology platform that enhances compliance while improving loan processing efficiency in both the retail and wholesale production channels," said Keven M. Smith, chief executive officer of Mortgage Builder. "Joining Altisource will enable us to combine forces toward the common vision of developing the industry’s most advanced and effective real estate and mortgage lifecycle management platform and marketplace. Going forward, our customers and partners will continue to experience the same dedication to innovation and customer support that they have come to expect from Mortgage Builder, enhanced by Altisource’s financial strength, stability and global resources.”
