Xactus acquires flood certification provider MassiveCert

Xactus, a US-based verification innovator for the mortgage industry, has acquired MassiveCert, a provider of residential national flood data and technology.

The financial terms of the deal were not disclosed.

The company is engaged in flood zone determinations, letters of map amendment (LOMA), elevation certificates, real-property risk, and private flood compliance.

MassiveCert produces flood zone determinations for insurance, mortgage, compliance, lending, market analysis, and real estate by providing various determination types and exhibits customized to its customers.

Josh Price — MassiveCert Co-founder said: “Our team is excited to be joining Xactus. The synergy between our companies was apparent from the onset, and the acquisition allows us to deepen our relationships in the mortgage industry.”

MassiveCert will now operate as Xactus Flood Solutions.

Perry Steiner — Xactus Chairman and CEO said: “We are excited to acquire MassiveCert and introduce additional innovative flood data solutions to our mortgage clients, and also establish our presence in the insurance industry.

“This acquisition is an extension of our strategy to offer a complete technology and data solution set for our mortgage industry clients. We will continue to both acquire and develop industry leading proprietary technologies that allow for workflow efficiency for our clients.”