On October 18, 2021, Lehi, Utah-based SimpleNexus acquired Macon, Georgia-based LBA Ware, bringing together employees across 29 states to serve hundreds of nation-wide customers.
SimpleNexus is the "developer of a mobile-first technology for the modern mortgage lender". Acquiring LBA Ware "gives mortgage lenders an unprecedented array of competitive advantages across borrower engagement, loan origination and closing as well as operations and business intelligence", states Cathleen Schreiner Gates, CEO of SimpleNexus.
According to the article, both companies have become members of the Inc. 5000 list of America's fastest-growing private companies, and both are members of the Mortgage Bankers Association (MBA), The Mortgage Collaborative (TMC), and the American Credit Union Mortgage Association (ACUMA).
LBA Ware CEO Lori Brewer will join SimpleNexus as EVP and General Manager and looks forward to redefining the digital mortgage experience. Brewer stated the following in the article:
"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."
SimpleNexus raised $108 million in a Series B funding round in January of 2021, and we are confident this acquisition will bring about more opportunities for great success at SimpleNexus.