The mortgage pricing engine LoanSifter Inc. has been acquired by a major competitor in a move that creates a pricing engine powerhouse.
The buyer in the transaction, which was disclosed in a news release on Wednesday, was Plano, Texas-based Optimal Blue.
Optimal Blue says that it provides automation services to the mortgage industry, including enterprise level pricing, point-of-sale, compliance and secondary marketing automation.
Terms of the transaction were not disclosed.
All of LoanSifter’s operations, employees and customer relationships are now fully integrated with Optimal Blue.
The combined organization has more than 1,500 customers and 200 employees in three offices.
“Optimal Blue and LoanSifter are leaders in this industry,” Larry Huff and Ivan Darius, co-chief executives officers of Optimal Blue, jointly said in the announcement. “This is a rare opportunity to combine the strengths of two organizations with exceptional track records and capabilities and focus on the same mission, which is to more effectively provide innovative products and services to our combined customers.”
LoanSifter data powers Mortgage Daily’s Mortgage Market Index.
