Lehi-based SimpleNexus, a developer of a homeownership platform for loan officers, borrowers, real estate agents and settlement agents, has announced its acquisition of Macon, Georgia-based software firm LBA Ware. The acquisition is SimpleNexus’ first.
“Bringing LBA Ware into the SimpleNexus homeownership platform gives mortgage lenders an unprecedented array of competitive advantages across borrower engagement, loan origination and closing as well as operations and business intelligence,” said SimpleNexus CEO Cathleen Schreiner Gates. “This is an exciting moment for SimpleNexus. We welcome our new colleagues, who share our passion for helping lenders excel in their markets.”
“As a company that values our partnerships with SimpleNexus and LBA Ware, we recognize this as an exciting moment for both firms and an opportunity for two market-leading teams to come together to push the boundaries of innovation on behalf of mortgage bankers,” said Randy Allen, chief investment officer of nationwide lender Fairway Independent Mortgage Corp.
LBA Ware CEO Lori Brewer will join SimpleNexus as executive vice president and general manager. Brewer founded LBA Ware in 2008 and shepherded the bootstrapped company through 13 years of product innovation and organic revenue growth. Initially a developer of custom software solutions for banks and mortgage lenders, LBA Ware became known as the creator of CompenSafe, an incentive compensation management (ICM) platform for the mortgage industry. In 2019, LBA Ware diversified its product offerings with the introduction of LimeGear, a turnkey mortgage business intelligence (BI) platform.
“Together, LBA Ware and SimpleNexus will be able to offer mortgage lenders even more than the sum of our parts and redefine not only the digital mortgage experience, but also the mortgage BI category,” Brewer said. “As consistent forces for innovation in the mortgage space, our firms have remarkably compatible cultures and complementary products. We look forward to a bright future as a unified team.”
The deal closed earlier this month.