Altisource Portfolio Solutions is buying Mortgage Builder Software in a deal that is expected to close in August, the companies announced July 21, following weeks of rumor. Financial terms between Luxembourg-based Altisource and Southfield, Michigan-based Mortgage Builder were not disclosed.

Mortgage Builder develops origination and servicing technology, and has about 65 employees and roughly 125 to 150 lender clients, typically small to midsize mortgage bankers and financial institutions. After the acquisition, it will operate within Altisource's Technology Services division, currently headed by Mark Hynes.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.