Mortgage Tips

Mortgage Tips

17.5 C
HomeNational MortgageXactus provides flood companies with MassiveCert buy

Xactus provides flood companies with MassiveCert buy

Xactus, which via a collection of offers advanced into one of many largest trimerge credit score report suppliers, has moved into the flood companies phase of the mortgage transaction with the acquisition of MassiveCert.

Phrases of transaction weren’t disclosed. MassiveCert is being rebranded as Xactus Flood Options.

Till now, Xactus provided flood zone determinations to its shoppers that had been obtained from third events. This acquisition will permit it to market its personal proprietary flood information and know-how merchandise.

“The synergy between our corporations was obvious from the onset, and the acquisition permits us to deepen {our relationships} within the mortgage trade,” stated Josh Value, co-founder of MassiveCert in a press launch. The corporate gives flood zone determinations, elevation certificates, Letters of Map Modification companies, personal flood compliance, and real-property danger evaluation.

Lenders and servicers are required to make sure for the lifetime of the mortgage that debtors in designated flood zones have flood insurance coverage. (Letters of map amendments are issued by the Federal Emergency Administration Company to alter a flood map for a selected property.)

“We’re excited to accumulate MassiveCert and introduce further revolutionary flood information options to our mortgage shoppers, and in addition set up our presence within the insurance coverage trade,” stated Perry Steiner, Xactus chairman and CEO. “This acquisition is an extension of our technique to supply an entire know-how and information resolution set for our mortgage trade shoppers.”

Steiner created what’s now often known as Xactus beginning in August 2020 with the mix of credit score reporting corporations CIS Credit score Options and Avantus. A few months later, the corporate turned UniversalCIS with the acquisition of Common Credit score Providers.

The corporate then moved into the appraisal know-how enterprise with the acquisition of SharperLending in January 2021. That July, it purchased the lending options and appraisal administration divisions of Knowledge Info.

In the meantime, in March 2021, Lovell Minnick took a majority stake in UniversalCIS. On the time, Steiner stated the funds would permit his firm to make much more acquisitions.

Lastly, in what was described as a merger of equals, UniversalCIS mixed with Credit score Plus, and the group would later rebrand as Xactus.

The corporate expects to proceed its acquisition spree going ahead. 

“We’ll proceed to each purchase and develop trade main proprietary applied sciences that permit for workflow effectivity for our shoppers,” Steiner stated.

Supply hyperlink


latest articles

explore more


Please enter your comment!
Please enter your name here