MortgageHub Takes on Strategic Investor

Conshohocken, Pa.-based MortgageHub has taken on a major investor -- ISGN Technologies Ltd., a global enterprise software company.ISGN is also part of the K.K. Birla Group, an Indian industrial group. The group runs professionally managed companies, with annual revenues of over $2 billion that have solid equity and capital market strength. The K.K. Birla Group is now investing in the U.S. mortgage market. On the other side of the deal, the move will extend MortgageHub's reach from servicing the top 10 lenders to offering its wholesale, retail, and correspondent lending platforms to a larger market base that will include the nation's top 80 lenders. Further details on the investment were not disclosed. MortgageHub can be found on the Web at http://www.mortgagehub.com.