HousingWireHousingWire
Nationwide private lender RCN Capital on Tuesday announced the acquisition of BLN Software, which offers a loan origination system and loan management system for the private mortgage lending industry.
The announcement from Connecticut-based RCN said that “the lender is looking to provide even more robust tools for its wholesale clients by investing in a state-of-the-art software platform that they can leverage to grow their businesses.”
BLN, which is also headquartered in Connecticut, is a cloud-based software company. It confirmed the news on its LinkedIn page with a post reading, “This partnership marks a major investment in wholesale client growth initiatives, providing even more powerful tools for lenders and brokers to scale their businesses.”
RCN Capital CEO Jeffrey Tesch said that his company had already started using BLN’s loan origination system before the acquisition.
“We are excited to bring such a cutting-edge and dynamic software provider into the RCN Capital family,” Tesch said. “With the addition of new resources, we look forward to offering BLN Software’s products to other lenders and brokers, empowering them to drive growth and success in their own businesses.”
BLN managing director Matthew Volz called the move a “significant milestone.”
“With RCN Capital’s industry expertise, we are better positioned to expand our software offerings and continue providing the innovative tools that empower lenders and brokers in our space,” Volz said. “Together, we will drive greater success for our clients and transform the future of real estate lending.”
