HCL Technologies to acquire mortgage business process co for $30 mn

HCL Technologies for enterprisesIT services company HCL Technologies announced its agreement to acquire Urban Fulfillment Services (UFS), a provider of mortgage business process and fulfilment services, for $30 million.

Founded in 2002, UFS has over 350 skilled professionals, 3 centers in the US, providing mortgage business process and fulfilment services to its customers.

The acquisition of Urban Fulfillment Services strengthens HCL Technologies’ capabilities in mortgage BPO services, loan fulfillment and debt servicing space. Charles S Sanders is the CEO of Urban Lending Solutions.

“Combining UFS’ talent and client portfolio with HCL’s expertise and business acumen, offers us the unique opportunity to provide platform–based services on our own platform, driving transformation through robotics process automation,” said Anoop Tiwari, global head – Business Services, HCL Technologies.

HCL Technologies said mortgage servicing is a regulated activity in USA and the transaction would require regulatory approvals for obtaining the licenses.

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