Milwaukee-based banking technology vendor Fiserv has acquired Integrated Loan Services (ILS), a provider of bundled loan services for the financial industry. Terms of the agreement were not disclosed.
Based in Rocky Hill, Connecticut, ILS provides bundled loan services, including nationwide appraisals, collateral assessments, credit reports, title searches, flood determinations, loan processing, document preparation and closing settlement services. Its projected 2001 revenues are approximately $30 million.
Leslie Muma, Fiserv president and CEO, says: "Integrated Loan Services brings to Fiserv a suite of products that will help enhance our current lending solutions for financial institutions."