Acquisition expands flood services offering and broadens data and technology offering
Xactus, the leading verification innovator for the mortgage industry, announced today the acquisition of MassiveCert, a data and technology leader in residential national flood data and technology. MassiveCert will now operate under the name Xactus Flood Solutions.
“We are excited to acquire MassiveCert and introduce additional innovative flood data solutions to our mortgage clients, and also establish our presence in the insurance industry” said Perry Steiner, Chairman and CEO of Xactus. “This acquisition is an extension of our strategy to offer a complete technology and data solution set for our mortgage industry clients. We will continue to both acquire and develop industry leading proprietary technologies that allow for workflow efficiency for our clients.”
“The acquisition of MassiveCert supports our objective of advancing the modern mortgage by allowing us to more comprehensively address our clients’ flood risk assessment needs,” said Shelley Leonard, President of Xactus.
MassiveCert is a national leader for flood zone determinations, elevation certificates, Letters of Map Amendment (LOMA), private flood compliance, and real-property risk. The company produces flood zone determinations for mortgage, insurance, lending, compliance, real estate, and market analysis by offering numerous determination types and exhibits tailored to its customers. The offering simplifies the elevation certificate process through up-front pricing, national service, online ordering, and complete digital delivery with over 100 automated quality controls.
“Our team is excited to be joining Xactus. The synergy between our companies was apparent from the onset, and the acquisition allows us to deepen our relationships in the
mortgage industry,” said Josh Price, Co-founder of MassiveCert.
“We look forward to working with Xactus customers with a wider breadth and depth of flood services, and are thrilled to become part of a company that is forward-thinking and committed to building something truly unique,” said Eric Ratcliffe, Co-founder of MassiveCert.
“We look forward to rolling out a full suite of flood data solutions to our clients, and providing further innovation to the flood data marketplace,” said Michael Crockett, Chief Data Officer at Xactus.
“The acquisition of MassiveCert aligns with our strategy of expanding the Xactus product portfolio with technology driven solutions to support our clients,” said Andrew Gladston, EVP of Corporate Development and Strategy.
Xactus is comprised of the merged family of companies that includes Credit Plus, Universal Credit Services, CIS Credit Solutions, Avantus, DataFacts Lending Solutions, and now, MassiveCert.
Xactus is the leading verification innovator for the mortgage industry. The company has over 6,500 clients ranging from the largest bank and non-bank mortgage originators to credit unions and mortgage brokers. With 12 operation centers across the U.S., Xactus collaborates closely with its clients to digitally integrate a 360° approach to verifications across their workflows. As a result, lenders can easily access the technology necessary to meet consumer demands for a modern mortgage experience with industry-leading speed, reliability, and accuracy – while also closing more loans more quickly with greater profitability.