LoanTrader to Merge With Maryland Firm
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Online mortgage brokers Ultraprise Corp. in Frederick, Md., and LoanTrader Inc. in Irvine said Monday that they plan to merge.
Financial terms were not disclosed, but the companies also said they have closed a $9.5-million round of equity funding for the new company, which will be called Ultraprise Loan Technologies Inc. and based in Frederick. The combined development functions, professional services and hosting operations will be in Irvine.
John Bourne, president and chief executive of Ultraprise, will take the same positions at the new company.
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