AllRegs Snaps Up Merit Matrix
AllRegs, an information provider for the mortgage lending industry, said Thursday that it had acquired Merit Matrix, a division of Pennsylvania-based IntraPrise Solutions, Inc. The acquisition further establishes AllRegs' presence in the origination market, allowing the seemingly ubiquitous data provider additional reach into the correspondent and wholesale mortgage market. It also appears to be the company's first foray into loan pricing for originators, sources told Housing Wire. AllRegs has been providing product and underwriting guidelines to the mortgage industry for nearly twenty years, and is the exclusive provider of product and underwriting guidelines for Freddie Mac and Fannie Mae. In the last five years, AllRegs also began to publish manuals, underwriting documents and product manuals for correspondent lenders as well as other mortgage companies. The acquisition of Merit Matrix allows AllRegs to round out its content available to mortgage bankers, it said. The acquisition of Merit Matrix also allows for mortgage professionals to continue using their existing loan platforms and product and pricing engines for loan transactions -- but now those platforms will be fed additional data from AllRegs via standard XML transfers. "The acquisition of Merit Matrix allows us to better serve the mortgage industry by providing fast, accurate answers to today's business challenges," said Glenn Ford, founder, chairman and chief executive officer of AllRegs. "We welcome the Merit Matrix staff to the AllRegs family and look forward to incorporating this robust information into our suite of products." For more information, visit http://www.allregs.com.