Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
DH acquires Avista Solutions
TORONTO (5/7/12)--Davis+Henderson Corp. (D+H), a Toronto-based technology firm, has acquired Avista Solutions Inc.of Charleston, S.C., a cloud-based mortgage loan origination provider to credit unions and banks.

The purchase price is $40 million, payable in cash, funded from D+H's existing credit facilities.

The acquisition adds to D+H's customer base and expands the range of integrated technology solutions the company offers by complementing the software-as-service consumer point-of-sale mortgage origination platform it delivers to more than 1,100 U.S. credit unions and banks through its Mortgagebot subsidiary.

Similar to Mortgagebot, Avista's loan origination system (LOS) technology is delivered through the Internet as a service and revenues are generated by subscription fees under long-term contracts.

Avista has more than 150 financial institution clients and a technology suite that includes a LOS with a product and pricing engine, document imaging, work flow capabilities, and a network of integrated third-party mortgage service providers.


RSS print
News Now LiveWire
Economic activity slowed in June, according to the #Chicago Fed's national activity index, released today #Market http://t.co/1pN6peM8my
13 hours ago
Money burns a hole in workers' pockets after payday, despite best intentions via @WSJeconomy http://t.co/A9SNiUdf9v
14 hours ago
"SAR Stats," new from #FinCEN, focuses on #bitcoin. See #NewsNow http://t.co/vS7iTwY2SW
15 hours ago
.@CFPB now accepts consumer complaints on prepaid cards, debt settlement services, credit repair services, and pawn and title loans.
16 hours ago
.@WellsFargo to process transactions in order received, not high to low http://t.co/g0jWJoegoJ
16 hours ago