Ellie Mae is acquiring Mortgage Returns, the software and services provider for the residential mortgage industry recently announced.
Mortgage Returns, which is based in St. Louis, Minn., is a leader in on-demand customer relationship management (CRM) and marketing automation solutions for the mortgage industry. The company provides a database-driven automated marketing solution to help mortgage originators maximize profitability from clients, prospects and referral partners.
Mortgage Return’s TRUE CRM system enables compliant and automated one-to-one marketing that delivers bottom-line results by providing an in-depth look at companies’ marketing execution and performance and provide reports detailing the analysis of companies’ and loan officers’ current and historic performance. The report also provides key insights into how the data projects to the future.
“Mortgage Returns was founded to help mortgage originators improve their results through a truly automated solution and today they serve nearly 200 financial institutions,” Ellie Mae President and CEO Jonathan Corr said. “CRM and marketing automation remain a key value proposition in our industry and with the acquisition of Mortgage Returns we are responding to the needs of our customers by adding a robust CRM solution for lenders of all sizes. This acquisition enhances our marketing platform and furthers our mission of automating the entire end-to-end mortgage process for our customers.”
“We’re thrilled to join Ellie Mae at such an exciting time and to come together to provide a CRM solution for mortgage lenders,” said Jim Blatt, president and co-founder of Mortgage Returns. “Together, we are poised to deliver a complete solution to our customers that will fuel change, enable massive efficiencies and provide a truly complete CRM offering.”
The transaction is expected to close in the fourth quarter of 2015. Ellie Mae will provide additional details on the expected synergies when the company reports its third-quarter results.
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