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Stock Market & Financial Investment News

News Breaks
February 14, 2013
10:04 EDTFBCFlagstar Bancorp sells DocVelocity to Capsilon, terms not disclosed
Flagstar Bancorp has agreed to sell the assets and operations of DocVelocity, its document imaging business for mortgage lenders, to Capsilon. Capsilon developed much of the technology that DocVelocity has marketed and sold since 2007, and which Flagstar has used to provide paperless mortgage processing to its wholesale customers. Following the transaction, Flagstar will continue to use the DocVelocity service. Terms of the transaction were not disclosed. The transaction is not expected to have a material financial impact on Flagstar.
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