Mortgage services provider LenderLive has completed its acquisition of Walz Group LLC, a regulatory compliance-focused firm that provides technology that automates document fulfillment and delivery.
LenderLive, a portfolio company of Aquiline Capital Partners LLC, offers outsourced services, correspondent lending, loan servicing, document services, settlement services and due diligence to support its clients’ loan origination, servicing and loan purchase operations. The company works with financial institutions of all sizes on a national basis.
Walz Group provides regulatory compliance solutions and provides technology that automates delivery of correspondence such as default notices, loss mitigation and other servicing-related borrower communication via United States Postal Service certified mail.
With offices in Temecula, California, San Diego and Phoenix, Walz Group works with more than 3,000 financial institutions, mortgage servicers, vehicle finance companies, foreclosure attorneys and trustees, law firms, insurance companies and other highly regulated industries, including six of the top 10 mortgage servicers.
Rick Seehausen, CEO of LenderLive, said the acquisition will result in a comprehensive set of end-to-end services and products combining compliance, data management, back-office technologies, critical document management and fulfillment for highly regulated industries.
LenderLive expects to see immediate synergies between its GuardianDocs document management business line and Walz’s mortgage origination solutions, particularly in the areas of loss mitigation and default services, Seehausen added.
“The combined capabilities of GuardianDocs and Walz will provide elegant solutions to today’s complex life-of-loan challenges,” Seehausen said.
Rod Walz, founder and president of Walz Group, said his company was attracted to LenderLive’s and Aquiline Capital Partners’ experience in the mortgage and financial services industries and their ability to invest in the company’s product and service offerings.
“They will provide us with strategic and financial guidance, expanded resources and technology, as well as increased partnership opportunities,” Walz said.
Walz Group will operate as a stand-alone division of LenderLive, keeping its branding and current management team. Financial terms of the transaction were not disclosed.