CIS Credit Solutions (“CIS”), a credit and technology solutions provider to mortgage originators is pleased to announce its merger with Avantus, LLC (“Avantus”) and Credit Bureau of Connecticut (“CBCT”). Both businesses are technology and service providers in the mortgage industry, and the combination creates a clear market leader in mortgage credit reporting and related service offerings.
Perry Steiner, Chairman of CIS, stated “CIS is thrilled to announce a combination with Avantus and CBCT. CIS has been a market leader for 35 years, and Avantus and CBCT have a remarkable 75-year history in the credit markets. The service record and history of both companies are unmatched in the market, and this transaction underscores our commitment to our customers, employees, technology development, and future growth. The combined company has over 2,000 clients. 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.”
Both CIS and Avantus will continue to operate in the market independently to reflect the strength of both brands and businesses. The companies will share common operational excellence and resources to provide a greater level of scale, product offering, and customer service for their clients. The transaction will provide continuity for customers and employees and the sharing of best practices between the organizations.
Louis Capobianco, President of Avantus commented, “Avantus and CBCT have been in business collectively for over 75 years, and owned by our family for the last 50 years. Finding the right partner was of primary importance for our company, our clients, and our employees, and we believe that CIS is the ideal partner for us on all fronts. The companies together are now positioned for success for decades to come.”
Mike Brown, CEO of CIS added “The combination of CIS with Avantus and CBCT is a natural step in our continued growth. 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.”
About CIS Credit Solutions
CIS Credit Solutions has been a leader in the mortgage credit industry for 35 years. CIS provides fully integrated solutions for mortgage lenders, including Tri-merge Credit Reports, Fraud Prevention, 4506T/Tax Return Verifications, Verifications of Employment, Income and Deposit/Asset, Undisclosed Debt Monitoring, Flood Certificates, and Tenant and Employment Screening. CIS prides itself on premium service and provides the highest level of customer service in the industry. CIS’s clients range from the largest mortgage lenders in the country to independent mortgage originators; providing the same level of care and attention to both.
About Avantus and Credit Bureau of Connecticut
Avantus and Credit Bureau of Connecticut have been innovators in mortgage-related technology, products, and services for 50 years. The companies specialize in providing customized mortgage credit reports, mortgage-related services, and technology solutions to the nation’s financial community. The intuitive and integrated solutions allow originators, credit unions, banks, and lenders to access a full suite of products and services to simplify operations, accelerate the loan approval process, reduce costs, and assure regulatory compliance.