ISGN Corporation, a provider of 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.
“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.
About The Author
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at firstname.lastname@example.org.