LION Snapshot
LION (Lenders Interactive Online Network) wants its share of the online mortgage market, but a downturn in the industry has been a thorn in its paw. The firm provides software and online services connecting mortgage brokers with consumers and lenders. Its flagship Precision LPX product is a lending transaction and pricing engine which also allows customers access to the LION Broker (formerly LION Pro) wholesale mortgage database. In 2007, LION began restructuring in light of the troubled housing and credit markets. It sold its Mortgage 101 and TRMS businesses and reduced its workforce by 60%. The company has agreed to be sell its assets to Beanstalk Networks Acquisition.
