Existing Investors Pump $30 Million Into ISGN

Mortgage technology and fulfillment outsourcing vendor ISGN raised $30 million in fresh capital from its existing group of investors.

The investment, from New Enterprise Associates, IndoUS Venture Partners and CFCL Overseas Limited will be used to pay off the Bensalem, Pa.-based company's 2010 acquisition of Fiserv's outsourcing division and to fund product development.

Among its offerings, ISGN has two different LOS platforms, one for small lenders and another for larger clients. Both technologies integrate with ISGN's outsourcing services. The company is in the process of bringing a new platform to market that combines the strengths of both platforms into a single browser-based LOS for both segments of the market, called Catapult.

ISGN's recently released valuation services include an appraiser-assisted automated valuation model, a hybrid product that combines an AVM with a property condition report and other managed valuation services.