Wednesday, December 16, 2009

Ellie Mae Buys Mortgage Compliance Software Firm

Pleasanton-based Ellie Mae, a provider of software and services for the banking and mortgage industry, announced Wednesday that it has acquired Mavent, a developer of automated compliance products for the mortgage industry. Financial terms of the buy were not disclosed. Ellie Mae said that Mavent's technology is used by Fannie Mae and over 100 lending institutions. Mavent is based in Irvine, California.