Xactus buys Mortgage Credit Link from MeridianLink

MeridianLink completed the acquisition of Xactus, a carve-out from its broader business. Xactus will continue serving existing clients while gaining access to Xactus’s scale, infrastructure, and investment. The deal required no regulatory or antitrust reviews. Xactus serves about 100 clients, including roughly 25 CRAs and other non-mortgage firms such as bankruptcy attorneys and debt consolidation companies. More than 90% of Xactus’s customer base is tied to the mortgage market, so the acquisition expands the addressable customer base beyond mortgages. The main client change is increased strategic focus and investment in the platform. MeridianLink will invest in the platform, and 12 MeridianLink team members dedicated to Mortgage Credit Link will move to XedaLink under Xactus leadership in technology, product, and operations.

"“First and foremost, we know how to run separate and distinct businesses; we will not compromise the integrity and confidentiality of their data,” Xactus President Shelley Leonard said in an interview with HousingWire, while acknowledging that attrition is a risk. “The second message, really, is that we are going to invest in the platform.”"

"“Conversations between MeridianLink and Xactus about a potential transaction began in February,” Leonard said. “The deal closed Tuesday, with clients notified Wednesday. No regulatory or antitrust reviews were required.” Leonard also said the transaction is “a carve-out from MeridianLink's broader business,” and that it supports “our long-term strategy, expanding our technology capabilities, strengthening our position in the market and continuing to build for the future.”"

"On the seller side, the transaction will allow MeridianLink to focus on its core business. The company provides end-to-end loan origination software covering consumer loans, business loans and digital mortgages. XedaLink will continue to serve its existing clients while gaining access to Xactus's scale, infrastructure and investment. The company serves about 100 clients, including roughly 25 CRAs and other non-mortgage companies like bankruptcy attorneys and debt consolidation firms."

"“Today, more than 90% of Xactus's customer base is tied to the mortgage market, so the deal expands the addressable customer base beyond mortgages.” Leonard said the biggest change for clients is that “this platform has had a lack of strategic focus and investment for the last few years, and Xactus is changing that as of today.” She added, “We are excited about the opportunity to invest and grow this business, and want to assure you that we will be investing in XedaLink.”"

Read at www.housingwire.com