PLACE Acquires Denver-Based Maxwell, Says Lender Contracts Will Continue

PLACE has closed its acquisition of Denver-headquartered Maxwell, bringing the mortgage-technology company’s lender software and services into its real-estate platform. In its September 24 announcement, PLACE said Maxwell customers would retain their platform and support without disruption to existing contracts, services or relationships.

For the more than 400 financial institutions PLACE says Maxwell serves, the immediate change is ownership, alongside the buyer’s assurance of continuity. Maxwell is also working on an optional service for lenders, though it describes that addition as an integration underway rather than a completed rollout.

What the deal brings together

Maxwell describes its offerings as including mortgage point-of-sale software, business intelligence, fulfillment, diligence and private-label origination. PLACE’s purchase adds those lender-facing tools and services to its broader real-estate business. The acquisition had closed by the time PLACE announced it; the company did not give a signing date or an exact closing time.

PLACE says Maxwell helps facilitate more than $130 billion in annual transactions. That is a company-reported measure of transaction value, not Maxwell’s revenue or the amount PLACE paid. The announcement does not specify the measurement year for that annual figure, and PLACE did not disclose a purchase price or enterprise value.

An optional service is still being integrated

In a September 24 post, Maxwell said it is integrating PLACE’s Connect moving-concierge service as an optional feature for lenders. Maxwell says the service helps consumers arrange utilities and internet and is free to consumers and lenders. The post describes work in progress, not availability across Maxwell’s entire client base.

For lenders, the distinction is useful: PLACE says their existing Maxwell services will continue under the new owner, while Connect is a prospective addition to what they can offer mortgage customers.