AllRegs acquires Merit Matrix

Mortgage Banking, July, 2008

AllRegs, Eagan, Minnesota, announced in May its acquisition of Merit Matrix, Warminster, Pennsylvania--a division of IntraPrise Solutions Inc. (ISI), also headquartered in Warminster. Terms of the deal were not disclosed.

AllRegs has been providing product and underwriting guidelines to the mortgage industry for nearly 20 years. The company continues to be the exclusive provider of product and underwriting guidelines for Freddie Mac and Fannie Mae.

The acquisition of Merit Matrix allows AllRegs to round out its contenl available to mortgage bankers, with more than 64 investors and nearly 3,000 loan products, according to Glenn Ford, founder, chairman and chief executive officer of AllRegs.

The acquisition of Merit Matrix allows us to better serve the mortgage industry by providing fast, accurate answers to today's business challenges," said Ford. "We welcome the Merit Matrix staff to the AllRegs family, and look forward to incorporating this robust information into our suite of products."

In the last five years, AllRegs began to publish manuals, underwriting documents and product manuals for correspondent lenders as well as other mortgage companies. AllRegs publishes the information privately for the lender and makes some of the content available to the mortgage industry through a sophisticated online central repository called the AllRegs Information Service, or AllRegs Online, explained Ford.

Furthermore, the acquisition of Merit Matrix allows mortgage professionals to continue using their existing loan platforms, and product and pricing engines for loan transactions--which are now able to receive data directly from AllRegs via direct extensible markup language (XML) data feeds, according to Jeff Fisher, president of ISI.

"We are proud of the Merit Matrix product and what our staff has accomplished over the past years," said Fisher. "Merit Matrix is a perfect complement to the AllRegs suite of products."