Lender Processing Services, Inc. (LPS) has bought LendingSpace, a provider of mortgage loan origination software solutions.

The LendingSpace platform will be added to LPS’s existing origination technology solutions, which include Empower and PCLender.

"The addition of LendingSpace’s robust capabilities expands the number of innovative origination solutions we offer lenders," said Jerry Halbrook, LPS’ senior managing director of LPS Origination Technology Solutions, in a statement. "We evaluated a number of lending platforms and LendingSpace provided the best product features with the necessary scalability to expand our product suite. More importantly, LPS and LendingSpace share a common commitment to excellence, integrity and customer dedication."

The LendingSpace product suite allows correspondent lenders to perform a number of tasks over the web: loan registration, data and document integration, status, condition management, funding and secondary market and investor delivery. LendingSpace’s product also includes tool for lead management and reverse mortgages.

"LPS is deeply respected throughout the mortgage industry for its highly successful technology and expertise," said Ravi Varma, chief executive officer of LendingSpace, in a statement. "By combining the strengths of LendingSpace and LPS, we can better help mortgage professionals meet the complex challenges of today’s lending environment."

The acquisition is scheduled to close later this month.