TheMReport — News and strategies for the evolving mortgage marketplace.
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LOCAL EDITION ORIGINATION LPS Moves to Acquire LendingSpace HOPING TO ENHANCE TECHNOLOGY OFFERINGS IN THE MORTGAGE MARKETPLACE, THE COMPANIES HAVE REACHED A PURCHASE AGREEMENT. FLORIDA/MARYLAND // Lender Processing Services, Inc., (LPS) has acquired LendingSpace, a provider of mortgage loan origi- nation software solutions. The LendingSpace technology platform is expected to boost LPS' origination technology solu- tions, including Empower and PCLender, programs used by mortgage lenders, credit unions, and community banks. "The addition of LendingSpace's robust capabilities expands the number of innovative origination solutions we offer lenders," said Jerry Halbrook, senior manag- ing director of LPS Origination Technology Solutions. "We evaluated a number better help mortgage profession- als meet the complex challenges of today's lending environment." Taylor Capital to Expand Mortgage Lending Operations TAKING OVER A MIDWEST MORTGAGE PROVIDER, TAYLOR'S MORTGAGE DIVISION IS ON TRACK FOR SIGNIFICANT GROWTH. ILLINOIS // Taylor Capital Group, Inc., is initiating a major expansion of its mortgage Indiana, and Ohio. The new staffers will represent a 20 percent increase in personnel for CTM. Mark A. Hoppe, president Mortgage, and his outstanding team to Cole Taylor Mortgage." and CEO of CTB, stated of the expansion plans, "Since its inception in late 2009, Cole Taylor Mortgage has proven to be an important source of revenue and income diversification for the bank. This expansion will provide CTM with a significant increase in its retail operations and greatly enhance the organization's mortgage banking capabilities." Contributing his thoughts on the company's decision to bolster PrimeSource's Leading Producers Receive National Honors INDUSTRY PUBLICATIONS AWARD ACCOLADES TO MEMBERS OF THE COMPANY'S 'WE WALK YOU HOME' TEAM. TEXAS // PSM Holdings, Inc., is seizing its bragging rights, recently announcing that three team members from company subsidiary PrimeSource Mortgage were named among the country's top three producers. In an official statement, PrimeSource revealed that the employees made it onto presti- gious production lists compiled by Scotsman Guide and Origination News. Scott Peters and Kevin Swift, of lending platforms, and LendingSpace provided the best product features with the neces- sary scalability to expand our product suite. More important, LPS and LendingSpace share a common commitment to excel- lence, integrity, and customer dedication," he added. The LendingSpace product suite features a lending platform that includes full web-enabled capabilities to enhance collabora- tion between retail originators and their lending partners. It also features lead manage- ment and reverse mortgage product capabilities, as well as third-party vendor integrations. All LPS origination systems, including the LendingSpace suite, will incorporate LPS' Loan Quality Gateway to help origi- nators with their loan quality requirements. "LPS is deeply respected throughout the mortgage indus- try for its highly successful tech- nology and expertise," said Ravi Varma, CEO of LendingSpace. "By combining the strengths of LendingSpace and LPS, we can division. The group recently announced plans to double the number of branches for Cole Taylor Mortgage, which serves as the company's lending unit through Taylor Capital subsidiary Cole Taylor Bank. To facilitate CTM's growth, its mortgage lending efforts, Willie Newman, president of CTM, noted, "Retail lending is a key component of our strategy to grow and diversify our sources of production and revenue." He added: "As part of our the organization is hiring more than 60 additional retail mortgage professionals, most of whom will join the company from Amera Mortgage's locations in Michigan, ral development production, while Swift recorded $10,236,118; both men are based in PrimeSource's Tulsa, Oklahoma, office. Additionally, PrimeSource's efforts to expand our retail channel and provide us the ability to maximize opportunities in the markets we serve, we are pleased to welcome Mark Janssen, the CEO of Amera dent, Jeffrey Smith, commented, "We are very pleased that some of our top producers are being recognized nationally. They work very hard and are most deserving. Our entire team deserves recogni- tion for their outstanding We Walk You Home service, which ultimately makes these national recognitions possible." leading producer, James Pulsipher, made Origination News' top 30 list among the nation's loan production specialists, as determined by number of loans. Pulispher took the 29th spot in the magazine's rankings, and the publication notes that he closed 295 loans in 2011. PrimeSource Mortgage's presi- THE M REPORT | 47 both part of PrimeSource's We Walk You Home team, were ranked second and third, respec- tively, for their rural develop- ment loan production, according to Scotsman Guide's roster of top 25 USDA volume producers dur- ing 2011. Peters racked up $10,974,110 in ru- ORIGINATION SERVICING ANALYTICS SECONDARY MARKET