Lender Processing Services (LPS) Announces Acquisition of PCLender.com

JACKSONVILLE, Fla. - (March 18, 2011) - Lender Processing Services, Inc. (LPS), a leading provider of integrated technology and services to the mortgage and real estate industries, announced today that it has acquired PCLender.com, Inc., a top 50 provider of enterprise, Web-based mortgage lending solutions and a complete loan origination system (LOS). The acquisition of PCLender.com complements LPS’ state-of-the-art core loan origination platform, LPS Empower®, and expands the company’s reach in the loan origination market.

LPS Empower will continue to target large national and regional mortgage lenders as the optimal solution for its loan origination platform. PCLender.com offers a more cost-effective solution for smaller and mid-sized mortgage companies, credit unions and community banks. Both technologies are fully-hosted ASP solutions, providing greater efficiencies, controls and security options for the mortgage lending industry.

”The acquisition of PCLender.com will accelerate our growth in the loan origination space by expanding our solutions suite to address the needs of all lenders, regardless of size,” said Don Covey, managing director, LPS Origination Technology Solutions Division.“ The addition of PCLender.com gives LPS the opportunity to support more lenders with innovative technology to streamline efficiency, reduce costs and provide even better customer service.”

Unlike typical loan origination systems, LPS Empower is an enterprisewide loan origination system that provides functionality for every facet of the origination process, including consumer, retail and wholesale point-of-sale channels; FHA, VA and Conventional product support; funding and auditing; product and pricing; electronic document management and imaging; and industry-standard interfaces. PCLender.com‘s fully hosted mortgage Software as a Service (SaaS) offering allows lenders to eliminate the cost of hardware ownership and costly upgrades; simplify and accelerate system implementation; and benefit from enhanced security and a centralized data repository.

”The combination of both companies‘ highly successful offerings enables us to jointly provide the industry‘s best end-to-end origination technology suite,” said Cyrus Brinn, chief operating officer of PCLender.com. “We are excited about this opportunity to join forces with a well-respected origination technology provider like LPS and to offer the expanded technologies, solutions and support for which LPS is so widely known to our PCLender.com clients.”

Financial details of the acquisition were not disclosed.

About Lender Processing Services

Lender Processing Services, Inc. (LPS) is a leading provider of integrated technology and services to the mortgage and real estate industries. LPS offers solutions that span the mortgage continuum, including lead generation, origination, servicing, workflow automation (LPS Desktop®) portfolio retention and default, augmented by the company’s award-winning customer support and professional services. Approximately 50 percent of all U.S. mortgages by dollar volume are serviced using LPS’ Mortgage Servicing Package (MSP). LPS also offers proprietary mortgage and real estate data and analytics for the mortgage and capital markets industries. For more information about LPS, please visit www.lpsvcs.com.

Founded in 1997, PCLender.com has experienced significant growth with the introduction of its InHouse Mortgage software as a service mortgage origination system. Credit unions, banks and mortgage bankers of all sizes have replaced various licensed solutions with PCLender.com’s enterprise-wide SaaS web-based platform.

PCLender.com, Inc. is a provider of industry leading, enterprise-wide web-based mortgage lending solutions. The company’s suite of SaaS-based applications, including its award-winning loan origination system, has revolutionized how mortgage companies, banks, and credit unions manage the mortgage lifecycle and ensure highly compliant closed loans. PCLender.com is dedicated to providing real estate lenders with exceptional service, as well as a streamlined mortgage loan platform that maximizes lending efficiencies and increases profitability. For more information please visit http://www.pclender.com, or call 877-536-6886, ext. 501