*Mortgage Builder Closes Another Acquisition*
**By Tony Garritano**
***It has been a big year for Mortgage Builder. The traditional LOS acquired a servicing system and just recently launched new versions of all of its origination technology, which now also includes mobile capabilities. Well, they are not slowing down. PROGRESS in Lending has learned that they have completed yet another big technology acquisition. The company acquired a PPE and CRM combined player. Here’s the scoop:
****Specifically, Mortgage Builder has acquired LXE Software Inc. of Denver, Colorado. LXE Software is a provider of CRM and product pricing and eligibility engine (PPE) technology, and is highly regarded as an innovator in its industry segment. The company has over 50 clients, several of which are also current Mortgage Builder clients.
****LXE Software’s flagship product, LoanXEngine, combines the essential services of lead management, product pricing and eligibility, and customer relationship management workflow into a single, easy to use platform. As part of the acquisition, Alan Johnson, the company’s founder and CEO, will remain with the company and become a senior executive within the Mortgage Builder management team. LXE Software’s other employees will also remain and the offices in Denver will form the nucleus of Mortgage Builder’s physical presence in the western United States.
****LoanXEngine will be integrated into Mortgage Builder’s new LOS platform, Architect, which includes an array of major enhancements and a new look. Importantly, LoanXEngine will continue to be available as a standalone product that works seamlessly with any loan origination software system. No sales price was disclosed.
****“LoanXEngine is very popular with its users, so we will make sure they can continue to enjoy its superior features with full support,” says Keven Smith, Mortgage Builder’s president and CEO. “It’s an incredibly dynamic product that brings great value to loan officers on the front end of the mortgage process, as well as to secondary marketing efforts.” Smith says.
****“Mortgage Builder stands alone as an independent company offering an end-to-end-to-end technology that blends loan origination and loan servicing within a common structure,” says Johnson. “LoanXEngine brings the very front part of the process into the equation, making Mortgage Builder the only ‘front-to-end-to-end-to-end’ company, with top quality CRM, PPE, LOS and LSS technologies,” he notes. “This is a first for the industry and our clients will be the beneficiaries.”
****LoanXEngine comes in standard and enterprise editions to serve organizations of all sizes and needs. It is web-based, supports Pocket PC and iPhone browsers, and features configuration options for retail, wholesale and online origination business models. The company’s LoanXWeb component turns lender and partner websites into dynamic 24×7 instant offer systems, while intelligently assigning loan officers, generating emails, finding best execution pricing and performing other critical functions.
****Kelli Himebaugh, corporate vice president of Mortgage Builder, will be tasked with expanding LoanXEngine’s customer base along with bringing its benefits to current and future Mortgage Builder clients. “Our clients will love what the addition of LoanXEngine will do for their origination efforts,” she says. “With the formal introduction of our new Architect platform at the MBA Annual Convention, and now adding this superb front end technology to our wide range of capabilities, we have a truly amazing story to tell at the Mortgage Builder exhibit in the Expo hall,” she says.
****Himebaugh notes that the initial integration into Mortgage Builder’s Architect LOS platform will begin immediately to enable Mortgage Builder users to take full advantage of LoanXEngine’s capabilities as quickly as possible. “It automates so many parts of the marketing and origination process that it truly harmonizes with Mortgage Builder’s service orientation,” she observes. “Both companies have raving fans, and together, we’re offering an even more compelling value proposition for our users.”
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at firstname.lastname@example.org.