MReport July 2019

TheMReport — News and strategies for the evolving mortgage marketplace.

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TH E M R EP O RT | 7 MTECH Home Point Financial is a national multi-channel mortgage originator and servicer. Home Point is focused on lending, speed, quality, and consistency for cus- tomers and partners. Home Point Financial is a sub- sidiary of Home Point Capital LP, a financial services holding com- pany founded in 2014 and owned by members of management and by investment funds managed by Stone Point Capital LLC. Enhancing the Title Experience HIGHTIDE SETTLEMENT SERVICES NOW OFFERS PAVASO'S ECLOSINGS TO IMPROVE CUSTOMER EXPERIENCE. H ightide Settlement Servic- es, LLC, a provider of title and settlement services, is now offering eClosings through Pavaso, a supplier of digital mort- gage closing technologies. Hightide, located in California, uses its experience and expertise to tailor comprehensive, custom- ized solutions for every title and settlement need. Pavaso expands the range of options available to Hightide customers and helps deliver faster, more convenient closings. The Texas-based Pavaso plat- form breaks down traditional silos and brings everyone in the home- buying transaction together in the same digital environment, where they can seamlessly communicate, collaborate, and securely exchange information throughout the entire closing process. Designed by industry veterans to simplify the closing experience, Pavaso can help save time, reduce costs, and streamlines processes. "Hightide is always looking for new ways to improve the cus- tomer experience and adapt to the demands of a changing industry," said Keith D. Murray, President and CEO at Hightide. "The Pavaso platform helps Hightide do both. Not only does Pavaso give our customers more choices and con- venience, but it also gives us tools to maximize efficiency and remain competitive in the digital age." "Our comprehensive eClos- ing solution provides the flex- ibility to deliver a full eClosing, a hybrid closing, or even a tradi- tional paper closing," said Cheryl Baillis, Executive Vice President of Operations at Pavaso. "We understand the importance of the customer experience and believe in providing the ability to choose the closing method they're most com- fortable with and that best meets their needs. Our goal is to add convenience to everyone involved in the real estate transaction." Thoma Bravo Completes Ellie Mae's Acquisition THE ALL-CASH TRANSACTION VALUES THE CLOUD-BASED PLATFORM PROVIDER AT $3,7 BILLION. P rivate-equity firm Thoma Bravo has completed the ac- quisition of California-based Ellie Mae. The all-cash transaction values the cloud-based platform provider for the mortgage finance industry at $3.7 billion. The acqui- sition was announced in February this year. Under the terms of the agree- ment, Ellie Mae shareholders receive $99 in cash per share. The price per share represents a 47% premium to the company's 30-day average closing share price and a 49% premium to its 60-day average closing price, each as of February 1, 2019. Ellie Mae's stockholders voted their shares in favor of the transaction on April 15, 2019. With the completion of the acquisition, Ellie Mae's common stock ceased trading and is no longer listed on the New York Stock Exchange. "The closing of this transac- tion represents the beginning of the next chapter in our digital mortgage journey as we work toward our North Star of automat- ing everything automatable for the residential mortgage industry," said Jonathan Corr, President and CEO of Ellie Mae. "Thoma Bravo brings deep expertise, and together we are committed to supporting our lenders' success, fostering innovation, and growth of the Encompass Digital Lending Platform and accelerating our value for our ecosystem of customers, partners, and employees." J.P. Morgan Securities LLC served as the exclusive financial advisor to Ellie Mae and Cooley LLP served as the legal advisor to Ellie Mae. Jefferies LLC served as financial advisor to Thoma Bravo and Kirkland & Ellis LLP served as legal advisor to Thoma Bravo. Financing for the transaction was being provided by Jefferies Finance LLC. "Thoma Bravo has long been impressed with Ellie Mae's unique position as the leader in mort- gage technology solutions. The

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