Philadelphia-based private equity firm LLR Partners announced Tuesday its investment in Sales Boomerang and Mortgage Coach, two fintechs focused on attracting and retaining mortgage borrowers and making loan originators more efficient. Both firms will maintain their existing brands and teams.

The investment comes at a pivotal time for the mortgage industry, which has seen record refi volume give way to a market dominated by purchase loans. LLR Partners, which led a $26.5 million investment in eOriginal in 2016, said both companies offer solutions that make a difference for lenders facing stiff competition and low margins in a purchase details ⇒

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