Mortgage services and tech providers Avantus, CIS Credit Solutions, and Credit Bureau of Connecticut (CBCT) announced Tuesday plans to merge into one firm.
According to the announcement, the companies will combine their customers, employees, and mortgage credit reporting offerings, as well as share best practices, customer service, and resources to “provide a greater level of scale.”
“The combined company has over 2,000 clients,” said CIS Chairman Perry Steiner. “Our goal is to build the preeminent partner to mortgage originators, not just in terms of size, but more important in terms of products, services, and technology offerings.”
“The combination of CIS with Avantus and CBCT is a natural step in our continued growth,” said Mike Brown, chief executive officer of CIS. “We look forward to building on the exceptional service that Avantus and CBCT provide their clients and will continue to look to expand our service offering to provide additional value for all of our clients.”
With both brands and businesses already established in the mortgage industry, Avantus and CIS will continue operating independently.
“CIS has been a market leader for 35 years, and Avantus and CBCT have a remarkable 75-year history in the credit markets,” Steiner said. “The service record and history of both companies is unmatched in the market, and this transaction underscores our commitment to our customers, employees, technology development, and our future growth.”