SimpleNexus has acquired LBA Ware, a Macon, Georgia-based software company. The transaction brings together 325 employees in 29 states to serve 425 distinct lender customers and many mortgage technology integration partners.
“Bringing LBA Ware into the SimpleNexus homeownership platform gives mortgage lenders an unprecedented array of competitive advantages across borrower engagement, loan origination and closing as well as operations and business intelligence,” SimpleNexus CEO Cathleen Schreiner Gates said in a release. “This is an exciting moment for SimpleNexus. We welcome our new colleagues, who share our passion for helping lenders excel in their markets.”
LBA Ware was founded in 2008 by CEO Lori Brewer. Over the last 13 years of product innovation and organic revenue growth, LBA Ware made a name for itself as the creator of CompenSafe, the mortgage industry’s original and most prevalent incentive compensation management software. LBA Ware also introduced LimeGear in 2019, a turnkey mortgage business intelligence (BI) platform.
“Together, LBA Ware and SimpleNexus will be able to offer mortgage lenders even more than the sum of our parts and redefine not only the digital mortgage experience, but also the mortgage BI category,” Brewer said. “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.”
Both SimpleNexus and LBA Ware have been mentioned by the Inc. 5000 list of America’s fastest growing private companies on a perennial basis and are long time members of the Mortgage Bankers Association, the Mortgage Collaborative, and the American Credit Union Mortgage Association. Each also has earned a loyal customer following exemplified by an average net promoter score that “far surpasses benchmarks for the financial services and B2B software sectors.”
“As a company that values our partnerships with SimpleNexus and LBA Ware, we recognize this as an exciting moment for both firms and an opportunity for two market-leading teams to come together to push the boundaries of innovation on behalf of mortgage bankers,” Randy Allen, chief information officer of Fairway Independent Mortgage Corp., said.