Technology

Fair Issac Unloads Mortgage Banking Division; Sale Includes LenStar, FORTRACS 

Fair Isaac Corporation (NYSE:FIC) and ISGN, the parent company of MortgageHub, said Monday that ISGN has acquired key assets and products associated with Fair Isaac’s mortgage banking division, with plans to integrate them with MortgageHub. Included in the deal are nearly every major mortgage banking platform owned by Fair Issac: the Diamond loan origination solution, the BridgeLink e-Services network for the mortgage industry, the LSAMS servicing system, the TCLTM construction lending system, the LenStar default management communications network, the FORTRACS default management system and other technologies. MortgageHub is a provider of Internet-based systems for the mortgage industry’s wholesale, correspondent, retail and servicing channels. Terms of the deal were not disclosed.