Deal to acquire LenderSelect from Blue Ridge Bankshares will also enable "significant expansion" of secondary market trading platform, Maxwell Capital.
Maxwell Lender Solutions Inc., a mortgage fintech solutions platform backed by Wells Fargo, on Tuesday announced it has reached a deal with Blue Ridge Bank N.A. to acquire LenderSelect Mortgage Group, a mortgage solutions provider to community financial institutions throughout the eastern United States. Blue Ridge Bank is a wholly owned subsidiary of Blue Ridge Bankshares Inc. Terms of the transaction were not disclosed.
Borrowers with limited English proficiency are said to be more likely to make it through the complex application process, enabling lenders to close loans faster and boost loan officer production.