As vendors look to serve an evolving mortgage market, they have to broaden their scope of services and their reach. Good vendors are going down this road as we speak. For example, Optimal Blue has just acquired Comergence Compliance.
Comergence is a provider of third-party oversight solutions in the mortgage industry. Founded in 2008, Comergence provides an array of third-party originator (TPO), appraiser, and social media risk management solutions that verify third-party compliance in real-time, a capability unmatched in the industry. Comergence has been widely recognized by the industry for its innovations in due diligence automation and ongoing surveillance services. No sale price was disclosed.
“We are thrilled to welcome Comergence to the Optimal Blue family and we are looking forward to extending their network management platform to our customers,” said Scott Happ, CEO of Optimal Blue. “Comergence solutions help build trust and confidence among marketplace participants by verifying third-party compliance in real-time, a capability unmatched in the industry.”
“We provide the best due diligence and ongoing surveillance services in the industry,” noted Greg Schroeder, President of Comergence. “We believe that by being part of Optimal Blue we can bring the benefits of our technology and expertise to an even larger segment of the mortgage marketplace.”
Michael Stallings, Executive Vice President of Comergence said, “Recent Comergence innovations, including an analytics tool to help account executives identify new TPO opportunities and a breakthrough solution for social media risk monitoring, strongly complement Optimal Blue’s existing product offering.”
“Optimal Blue and Comergence are well-aligned around our principal mission of facilitating transactions between buyers and sellers of loans,” added Scott Happ. “We are very pleased that Greg, Michael, and the entire Comergence team will be joining Optimal Blue as we execute our shared growth plans.”
About The Author
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 email@example.com.