Xactus, a Philadelphia, PA-based verification innovator for the mortgage industry, acquired MassiveCert, a St. Petersburg, FL-based residential national flood data and technology company.
The amount of the deal was not disclosed.
With the acquisition, Xactus will expand its flood services and will broaden its data and technology offering. MassiveCert will now operate under the name Xactus Flood Solutions. Xactus is comprised of the merged family of companies that includes Credit Plus, Universal Credit Services, CIS Credit Solutions, Avantus, DataFacts Lending Solutions, and now, MassiveCert.
Led by Josh Price and Eric Ratcliffe, MassiveCert is a national leader for flood zone determinations, elevation certificates, Letters of Map Amendment (LOMA), private flood compliance, and real-property risk. The company produces flood zone determinations for mortgage, insurance, lending, compliance, real estate, and market analysis by offering numerous determination types and exhibits tailored to its customers. The offering simplifies the elevation certificate process through up-front pricing, national service, online ordering, and complete digital delivery with over 100 automated quality controls.
Led by CEO Perry Steiner and President Shelley Leonard, Xactus is a verification innovator for the mortgage industry. The company has over 6,500 clients ranging from the largest bank and non-bank mortgage originators to credit unions and mortgage brokers. With 12 operation centers across the U.S., Xactus collaborates with its clients to digitally integrate a 360° approach to verifications across their workflows. As a result, lenders can access the technology necessary to meet consumer demands for a modern mortgage experience with speed, reliability, and accuracy – while also closing more loans more quickly with greater profitability.
FinSMEs
26/07/2022