An acquisition that closed today creates a one-stop shop for servicers and lenders, while the recent purchase of a mortgage insurance platform has a new mortgage insurer up and running. Two mortgage processing service providers were also acquired.
ISGN Solutions Inc. announced today that it closed on the acquisition of Fiserv Inc.’s loan fulfillment services. The deal was originally announced nearly three months ago and has Fiserv retaining a minority interest in the unit.
“The resulting organization is now one of the top three technology and service providers in the mortgage industry for lenders and servicers seeking a single-source solution provider,” ISGN said in today’s statement.
The sale of Triad Guaranty Inc.’s information technology and operating platform to Essent Guaranty Inc. has completed, a statement this month said. The deal with Triad, which halted new business at subsidiary Triad Guaranty Insurance Corp. in June 2008, was originally announced in October.
Essent investors include Brook Road Partners, Goldman Sachs, J.P. Morgan, PartnerRe, and Renaissance Re.
Radnor, Pa.-based Essent said it is establishing an operations and technology center in Winston-Salem, N.C., and has hired around 40 of Triad’s information technology and operations employees. The company reports that it has received licensing approval in 35 states so far through the National Association of Insurance Commissioners’ expedited licensing pilot program.
The First American Corp. said last month that it completed the buy-in of First Advantage Corp. by acquiring all outstanding First Advantage shares not tendered in the exchange offer by means of a short-form merger under Delaware law.
Beijing-based Chardan 2008 China Acquisition Corp. announced today that it has agreed to a business combination with DAL Group LLC. Once the deal is done, the combined company will operate as DJSP Enterprises Inc. and trade on the NASDAQ under the symbols DJSP, DJSPU, and DJSPW.
Chardan said that it was formed in February 2008 to acquire operating businesses, while DAL is one of the largest providers of processing services to mortgage lenders in Florida and one of the biggest judicial mortgage foreclosure processing services companies in the country, according to the announcement.
A Nov. 18 news release indicated Headstrong recently acquired mortgage processing company Lydian Data Services.
