PALM BAY, Fla.--(BUSINESS WIRE)--ISGN Corporation™, a leading provider of award-winning technology solutions to the U.S. mortgage industry, today announced it has completed the sale of its business unit, ISGN Solutions, which performs Business Process Outsourcing (BPO) services, to Firstsource Group USA, Inc., wholly owned subsidiary of Firstsource Solutions Limited, a RP-Sanjiv Goenka Group Company and a global provider of customized Business Process Management (BPM) services.
On January 28, Firstsource entered into a definitive agreement to acquire ISGN’s BPO services subsidiary company. As part of the transaction, Firstsource has acquired the outsourced mortgage origination and mortgage servicing, title and settlement services and the valuation business of ISGN. The new entity will continue to use the ISGN Solutions, Inc. brand.
ISGN Corporation continues to develop innovative technology solutions proven to drive operational efficiencies and profitability. The company impacts more than 5.5 million mortgage loans across the nation and is consistently recognized for excellence, including being named to HousingWire’s HW TECH100™ list of the most innovative technology companies in the housing industry for three consecutive years, Mortgage Technology’s Top 50 Service Providers and “Release of the Year”, as well as ranked on American Banker and BAI’s FinTech Forward 100 list and IDC Financial Insights FinTech list.
“The completion of the sale enables ISGN to focus on delivering next-generation technology built on over three decades of expertise to our customers. We are committed to providing world-class products that drive the success for our mortgage eco-system,” said Amit Kothiyal, CEO of ISGN. “Our industry profitability continues to face challenges. This, coupled with a heavily regulated mortgage environment, has created a strong need for technology innovation. ISGN is making this a focal point for our business and aims to continue engineering state-of-the-art technology to transform our industry.”
By constantly engaging with clients and heavily focusing on technology that modernizes the mortgage process, ISGN has several new product development releases slated for 2016 to deliver on the promise of mortgage transformation. These releases will significantly enhance its strong product offering across the mortgage technology suite of solutions including, LoanDynamix™ new loan servicing system built on the widely recognized LSAMS platform, Tempo™ default management system, LoanMomentum™ construction loan servicing system built on the widely recognized TCL platform, Gators ® vendor management and settlement services system, and its CFPB Compliance RiskCheck™ solution.
Firstsource (NSE: FSL, BSE: 532809, Reuters: FISO.BO, Bloomberg: FSOL@IN), a RP-Sanjiv Goenka Group company is a global provider of customized BPM (Business Process Management) services to the Banking & Financial Services, Insurance, Telecommunications, Media and Publishing and Healthcare sectors. The company’s clients include FTSE 100, Fortune 500 and Nifty 50 companies. Firstsource has a “Rightshore” delivery model with operations in India, the Philippines, Sri Lanka, the UK and the US. (www.firstsource.com).
ISGN is a leading provider of award-winning mortgage technology, impacting over 5.5 million of all U.S. mortgage loans. Our domain and technology experts have spent more than 25 years creating innovative technologies and solutions to help financial institutions improve precision, reduce risk, manage volatility and effectively transform their business. With flexible delivery models, ISGN is uniquely positioned as one of the few comprehensive mortgage service providers to both the origination and servicing sectors. The company works with a majority of the top ten national lenders, as well as with regional lenders, nonbanks, credit unions and community banks. For more information, visit www.ISGN.com.