September
28, 2004
Employment Screening
Industry Leader Adds Mortgage Credit Report Services
for Banks, Mortgage Lenders and Brokers
Sterling Testing Systems,
Inc., the employment screening services company, announced
today thtat it has acquired the primary assets and customers
of Automated Information Services, Inc. (AIS), a reseller
of mortgage credit reports. In addition, the company
has formed a subsidiary, Sterling Credit Screening,
Inc., to market mortgage credit reporting products to
banks, credit unions, mortgage lenders, and mortgage
brokers. Terms of the acquisition were not disclosed.
Sterling Testing Systems,
founded in 1975 by CEO William M. Greenblatt, is headquartered
in New York. AIS has been in operation since its establishment
in 1995 by Eric Balcich, Michael Verdisco, and Jean
Blaine. Both firms are privately held. AIS' customer
service and operations staff will join Sterling Credit
Screening in New York.
"We are excited to
be entering a new market through this acquisition and
providing a new channel of products to our financial
service customers. Sterling Testing Systems will combine
its 29-year history of focused customer service and
product development with AIS' expertise in mortgage
credit products," said William M. Greenblatt, CEO
of Sterling Testing Systems, Inc. "Through this
combination we will be able to provide their current
client base with the highest quality client service,
rapid introduction of new products, and enhancement
of existing products, while offering single-provider
access to our industry-leading employment screening
services."
"This is a great opportunity
for both companies as well as our clients. We look forward
to bringing our expertise and clientele to Sterling
Credit Screening and to becoming part of such a well-known,
growing, and successful organization," said Valich.
"The resources that will be devoted to product
development and operations will enable this business
to scale quickly and provide our customers with a vast
array of mortgage credit reporting and employment screening
products."
About Automated Information
Services:
AIS provides comprehensibe
credit reporting and related services to the mortgage
banking industry. Services include single, double, and
tri-merged mortgage credit reports, rapid re-score and
correction resolutions, and flood determinations. AIS'
website can be viewed at www.automatedinfo.com.
About Sterling Testing
Systems:
Sterling Testing Systems
is one of the nation's leading providers of outsourced
pre-employment screening and background checking services.
The company's large and diverse clientele includes many
of the largest operating companies from the Banking,
Distribution, Energy, Healthcare, Insurance, Legal,
Manufacturing, Retail, Technology and not-for-profit
industries in the United States. Sterling Testing Systems'
broad range of services, product offerings, and searches
includes Criminal History Records, Social Security Traces,
Consumer Credit Reports, Prior Employment Verifications
and References, Education Verification, Department of
Motor Vehicle Records, Professional License Verification,
Sexual Offender Database Records, Drug Tesing, and Online
Employment Applications. Its services are facilitated
through its leading online order and delivery system,
Web Direct, and are used primarily by Corporate Human
Resource, Loss Prevention, Security, and Risk Management
Departments. The company is privately held and headquartered
in New York. Sterling Testing Systems' website can be
viewed at www.sterlingtesting.com or call (800) 899-2272.
About Sterling Credit Screening:
Sterling Credit Screening
is a wholly owned subsidiary of Sterling Testing Systems,
providing mortgage credit reports, flood determinations,
and rapid corrections and rescore products to banks,
credit unions, mortgage lenders, and mortgage brokers.
The company also offers Tenant Screening services to
landlords and property management companies. |