Home >> News >> Origination >> D+H Acquires Avista Solutions With $40B Purchase
Print This Post Print This Post

D+H Acquires Avista Solutions With $40B Purchase

""Davis + Henderson Corp."":http://dhltd.com/ (D+H) recently expanded the scope of its mortgage loan origination software by acquiring ""Avista Solutions, Inc."":http://www.avistasolutions.com/

[IMAGE] [COLUMN_BREAK]

The Toronto, Ontario-based lender listed $40 million for a purchase price and said it would tap into existing credit facilities to expand credit facilities.

""With Avista, we've added an innovative, fast growing LOS business featuring proven capabilities that are highly synergistic to those we offer through Mortgagebot,"" Gerrard Schmid, CEO of D+H, said in a statement.

""Together, we now support the entire mortgage origination process for U.S. lenders and provide customers with a comprehensive suite of products that enable efficient, effective growth from origination through to closing,"" he added.

D+H billed the move as one that allows it to complement the Mortgagebot subsidiary it currently owns and uses to reach more than 1,100 banks and credit unions.

The originator said that shareholders would see accretion by 2012 on an adjusted net income basis.

About Author: Ryan Schuette

Ryan Schuette is a journalist, cartoonist, and social entrepreneur with several years of experience in real-estate news, international reporting, and business management. He currently lives in the Washington, D.C., area, where he freelances for DS News and MReport.
x

Check Also

More Than Half of Americans Feel Homeownership Is Unattainable

A new survey from Home Bay takes the pulse of how Americans feel about homeownership—and how far out of reach many feel it may be.Â