Fiserv, Inc., a global provider of financial services technology solutions headquartered in Brookfield, Wisconsin, announced Monday that it has signed adefinitive agreement to sell its Loan Fulfillment Solutions (LFS) business to ISGN Solutions Inc., a subsidiary of ISGN Corporation based in Bensalem, Pennsylvania. The transaction is subject to customary closing conditions and is expected to close within 30 days. Financial terms of the transaction were not disclosed and Fiserv said it does not expect this transaction to have a material impact on its financial results.

LFS provides financial institutions outsourced home equity loan fulfillment services, including broker price opinions (BPOs), closing and settlement services, valuation services, flood and title certification, home retention and loan modification solutions, portfolio and vendor management solutions, and related services. ISGN specializes in mortgage lending technology and solutions for residential mortgage products, including fulfillment services, title, and default management. “We believe the LFS business, and the clients it serves, will benefit from the scale and expertise of ISGN,” said Jeffery Yabuki, president and CEO of Fiserv. “We are pleased with the outcome for our clients, associates, and shareholders.” Fiserv noted in a corporate statement that it retains a robust lending solutions portfolio, including primary loan origination and servicing solutions that financial institutions use as their lending platforms; automotive lending solutions; and lending-related data and analytics offerings, such as the CASA Automated Valuation Model and the Fiserv Case-Shiller Indexes. As part of the transaction, Fiserv will receive a minority ownership interest in CFCL Technologies Limited, the parent company of ISGN Corporation. The companies expect to cooperate in the delivery of value-added processing solutions to mutual clients.