Mortgage Cadence today announced its acquisition of mortgage solutions company Prime Alliance Solutions, and both companies’ desire to combine for innovative solutions and successful mortgages.
The decision to acquire Prime Alliance was made to support future goals of establishing mortgage products that are more accommodating and 100% compliant, said Mortgage Cadence.
Mortgage Cadence and Prime Alliance share a similar future vision regarding the mortgage lending industry, said Dan Green, previous Prime Alliance Solutions Vice President. Green is set to serve as Mortgage Cadence Executive Vice President of Marketing.
“After our very first conversations with Mortgage Cadence, it was clear we share the same vision for the future of the mortgage lending industry. I expect to quickly combine our already strong companies together and create one brand and extensive product suite that continues to revolutionize the lending landscape by taking a manufacturing approach to the process and creating zero defect mortgages,” said Green.
In acquiring Prime Alliance, Mortgage Cadence aims to work with Prime Alliance’s already established customer base of credit unions and provide solutions using Mortgage Cadence’s automated mortgage tools. Following the acquisition, Mortgage Cadence plans to shift Prime Alliance’s customers from the company’s current lending solution, Prime+, toward the Mortgage Cadence lending platform, Orchestrator, according to Mortgage Cadence.
Prime Alliance is eager for the companies’ partnership and the expanded reach of Prime Alliance it will bring, said Joe Brancucci, founder, chairman, and CEO of Prime Alliance Solutions, Inc. “We want Prime Alliance to continue helping our customers remain the best-regarded mortgage lenders in the industry. Doing so requires a strong partner with similar aspirations and talents, and that partner is Mortgage Cadence,” said Brancucci.
Written by Erin Hegarty