Perpetual has made its second acquisition in the mortgages sector in the last six months with the purchase of National Lending Solutions's (NLS) mortgage processing assets.
Perpetual acquired the mortgage processing assets of NLS for $3.5 million and will integrate the assets into the Perpetual Mortgage Services business immediately.
NLS is a wholly-owned subsidiary of the publicly listed company, InfoChoice Limited (InfoChoice).
The Australian Stock Exchange advised InfoChoice that the acquisition by Perpetual can proceed without the need for shareholder approval.
NLS is a provider of national mortgage processing services, based in Parramatta, employing about 80 staff.
NLS marks the second mortgage services sector purchase by Perpetual following the Wignalls Lenders Mortgage Services acquisition in February.
"Both the NLS and Wignalls acquisitions enhance our service offering to the market by consolidating the skills and experience of the three businesses," Perpetual's group executive Phil Vernon said.
Vernon said the NLS acquisition continues Perpetual's strategy to provide a comprehensive range of services to the securitisation and lending markets.
