Australian tech company Computershare is continuing its expansion into the U.S. mortgage market by acquiring LenderLive Network, the company announced Wednesday.
Computershare first expanded into the U.S. in 2011 when it acquired Specialized Loan Servicing for $113.6 million. The company later acquired Capital Markets Cooperative and Credit Risk Solutions (formerly known as Altavera Mortgage Services) in 2016.
And now, Computershare Loan Services, the company’s U.S. mortgage arm, has completed its acquisition of LenderLive Network, a deal that was first announced back in August.
Specifically, Computershare Loan Services acquired LenderLive Financial Services, and its operating subsidiary LenderLive Network, a fulfillment and secondary market service provider.
The move comes after LenderLive Network’s parent company, LenderLive Holdings, recently changed its name to Covius Holdings.
Covius Holdings is also the parent company of LenderLive Services and reQuire Holdings.
In a statement, Covius Holdings Chairman and CEO Rob Clements said that the company is very pleased to complete the deal with Computershare.
“Covius is thrilled to have found a great buyer in Computershare and home for the loan fulfillment and correspondent lending teams,” Clements said. “Considerable effort was put forth to ensure a seamless transition for the clients and personnel and I want to personally thank all employees for their support during the sales period.”
As for Computershare, the company said it is looking forward to the new services it will be able to offer with LenderLive Network in the fold.
“We’re very excited to be bringing these LenderLive services into the Computershare family and welcoming an additional 420 employees onboard,” Nick Oldfield, CEO of Computershare Loan Services, said in a statement.
“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,” Oldfield continued.
“Computershare has a great onboarding experience planned for the staff joining us and we’re excited about sharing our collective cultures and expertise,” Oldfield added. “Clients can expect continued service excellence across all that we do, and we look forward to reaching new audiences with our industry-leading fulfillment and secondary market products.”
Financial terms of the deal were not disclosed.