❯ Transactions

SimpleNexus Acquires LBA Ware

Governance, Risk & Compliance ❯

LEHI, UT – SimpleNexus, developer of the leading homeownership platform for loan officers, borrowers, real estate agents and settlement agents, today announced the acquisition of Macon, Georgia-based software firm LBA Ware™. The strategic transaction, SimpleNexus’ first, brings together 325 employees in 29 states to serve 425 different lender customers and dozens of mortgage technology integration partners.

“Bringing LBA Ware to the SimpleNexus homeownership platform gives mortgage lenders an unprecedented range of competitive advantages in borrower engagement, debt origination and closing, as well as operations and business intelligence,” said Cathleen Schreiner Gates, CEO of SimpleNexus. “This is an exciting moment for SimpleNexus. We welcome our new associates who share our passion for helping lenders excel in their markets.”

LBA Ware CEO Lori Brewer will join SimpleNexus as EVP and General Manager. Brewer founded LBA Ware in 2008 and has led the bootstrapped company through thirteen years of product innovation and organic revenue growth. Initially a developer of custom software solutions for banks and mortgage lenders, LBA Ware quickly made a name for itself as the creator of CompenSafe™, the mortgage industry’s core and most popular incentive compensation management (ICM) software. In 2019, LBA Ware diversified its product offering with the introduction of LimeGear™, a turnkey mortgage business intelligence (BI) platform.

“Together, LBA Ware and SimpleNexus will be able to offer mortgage lenders more than the sum of our share and redefine not only the digital mortgage experience, but the mortgage BI category as well,” Brewer said. “As consistent forces for innovation in the mortgage sector, our firms have remarkably compatible cultures and complementary products. We look forward to a bright future as an integrated team.”

The deal is expected to be completed by October 19, 2021.

Vaquero served as financial advisor to LBA Ware.

LBA Ware
Acquired by
SimpleNexus Insight Venture Partners