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SitusAMC Holding Corp, a technology and services provider for the real estate finance industry, acquired ReadyPrice and its mortgage technology that connects mortgage loan originators and lenders in the loan origination process. The ReadyPrice management team will be retained by SitusAMC, according to a press release.
ReadyPrice's mortgage technology gives MLOs the ability to manage and choose pricing, run automated underwriting, and deliver approved loans to lenders at no cost to the MLO, according to the release. For lenders, ReadyPrice provides a way to scale their businesses, ensuring wholesale lending rates are included in every pricing engine search while providing brokers with a path to directly transfer DU approved loans. ReadyPrice technologies support FNMA, FRE, FHA, VA, USDA, VA, and non-agency (non-QM, jumbo, etc.) loan originations.
SitusAMC has been expanding into the residential loan origination support offering, recently acquiring ComplianceEase in September 2020.
"ReadyPrice represents the beginning of our investments to bring market-leading technologies to the brokerage community," said SitusAMC CEO Michael Franco. "Our goal is to form the bridge from new origination markets directly to the secondary market by combining our technology offerings, our connectivity throughout secondary markets, and our ability to provide processing, underwriting, and due diligence services."
Click here to learn more about the acquisition.