SimpleNexus Acquires LBA Ware to Expand Lending Tools
SimpleNexus Expands Client List and Homeownership Platform’s Capabilities for Loan Officers, Borrowers, and Real Estate Agents by Completing First Acquisition – Macon, GA-Based Software Developer LBA Ware .
LBA Ware’s products include CompenSafe, which simplifies loan officer compensation, and LimeGear, a business intelligence and performance management platform that enables lenders to track loans throughout the pipeline and monitor production at the level. loans and employees.
Lori Brewer, CEO of LBA Ware, which founded the company in 2008, will join SimpleNexus as executive vice president and general manager, which will have 325 employees and 425 lender clients when the deal is closed later this month. Terms of the contract are not disclosed.
“The introduction of LBA Ware into SimpleNexus’ homeownership platform offers mortgage lenders an unprecedented array of competitive advantages in terms of borrower engagement, loan creation and closing, and mortgage lenders. ‘operations and business intelligence, “SimpleNexus CEO Cathleen Schreiner Gates said in a statement. “This is an exciting time for SimpleNexus. We welcome our new colleagues, who share our passion to help lenders excel in their markets.
SimpleNexus products include Nexus Engagement, a co-branded, shareable mobile application for real estate agents, homebuyers and loan officers that enables “a more personal and transparent partner referral strategy”.
Once buyers are ready to apply for a loan, Nexus Origination streamlines the process, allowing them to navigate the application process and download documents with a single login. Realtors have visibility into loan status and milestone updates.
To streamline collaboration during the closing process, Nexus Closing offers full loan origination system integration and a choice of traditional, hybrid or fully digital fences.
Before announcing its acquisition of LBA Ware, Lehi, Utah-based SimpleNexus said it onboarded more than 66 new corporate clients this year, with more than 41,000 active loan originators using the platform as of early October. , up 48% from January 1. .
SimpleNexus says its platform has been used by more than 5.8 million borrowers and 141,000 real estate partners, helping facilitate more than $ 419 billion in loans.
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