Awards and Honors, Business, Free News Articles

Cloudvirga CEO Michael Schreck honored by HousingWire as Vanguard Award winner

IRVINE, Calif. -- Cloudvirga(TM), a leading provider of digital mortgage software, today announced that CEO Michael Schreck is a recipient of HousingWire's 2018 HW Vanguard Award(TM). Now in its fourth year, the Vanguard Awards spotlight the housing finance industry's most successful and influential executives.

Schreck was recognized as a mortgage innovator with a 20-year track record of leading pioneering fintech companies to successful exits (including acquisitions by IBM, Sallie Mae, VeriSign and GSI Commerce that were collectively valued at over $1 billion).

Since joining Cloudvirga in 2017, Schreck has raised over $50 million in private-equity funding to further the company's mission of transforming and digitizing mortgage origination. His background as a fintech founder, investor and CEO has helped him build an all-star leadership team that includes former executives of Microsoft, Roostify, IBM, Intuit, Altisource, LoanDepot and other industry leaders.

After less than three years in operation, Cloudvirga counts nine of the top 40 non-bank mortgage lenders as customers and recently expanded its product lineup with the launch of Mobile POS and a forthcoming Broker POS in partnership with ARIVE. Prior to Cloudvirga, Schreck was managing director of the Altisource Labs innovation center. Schreck also co-founded General Catalyst Partners, a multi-billion-dollar venture capital firm.

"It's an honor to be recognized among such an esteemed group of industry luminaries," said Schreck. "This award is really not about me - it's a reflection of the entire Cloudvirga team and what we are achieving together. We have assembled a singular group that is truly committed to our mission of driving down the cost of home loans."

"As the Vanguard Awards program continues to grow ... the entry point gets tighter," said HousingWire Editor-in-Chief Jacob Gaffney. "These winners are truly the best in the mortgage finance industry."

A complete listing of honorees appears in the December/January issue of HousingWire magazine and can be found online at https://www.housingwire.com/articles/47526-meet-the-2018-hw-vanguard-award-winners.

About HousingWire:

HousingWire is the most influential source of news and information for the U.S. mortgage and housing markets. Built on a foundation of independent and original journalism, HousingWire reaches over 40,000 newsletter subscribers daily and over 4 million unique visitors each year. Our audience of mortgage, real estate, financial services and fintech professionals rely on us to Move Markets Forward. Visit http://www.housingwire.com/ or http://www.solutions.housingwire.com/ to learn more.

About Cloudvirga(TM):

Cloudvirga's digital mortgage point-of-sale (POS) software, powered by the intelligent Mortgage Platform(R), uniquely combines a world-class borrower experience with a truly automated lender workflow that radically cuts overall loan costs, increases transparency and reduces the time to close a loan. Led by top fintech veterans with a track record of building successful mortgage technologies, Cloudvirga's customer base includes nine of the top 40 non-bank mortgage originators. To date, Cloudvirga has raised over $77 million from some of the country's top lenders and private-equity firms.

For more information, visit https://www.cloudvirga.com/ or follow Cloudvirga on LinkedIn.

Twitter: @Cloudvirga @HousingWire #2018HWVanguards

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This news story was published by the Neotrope® News Network - all rights reserved.

Business, Free News Articles, Software

Record Year for Cloudvirga Closes with Customers of Its Digital Mortgage Platform Producing Over $100B in Loan Volume

IRVINE, Calif. -- Cloudvirga(TM) CEO Michael Schreck is on a mission to help mortgage lenders reinvent the mortgage factory. A developer of intelligent mortgage point-of-sale platforms, Cloudvirga gives consumers and loan officers a digital mortgage experience and helps lenders grow market share by automating the mortgage back office, saving them up to $1,500 a loan.

2017 was a banner year for Cloudvirga. In November, the company announced the addition of five top-30 lender customers to its digital mortgage platform, and it added a sixth top-30 lender in December. Together, these customers produced over $100B in loan volume in 2017.

"We are proud to have earned the support of the industry's leading lenders," said Schreck. "We believe their trust is indicative of Cloudvirga's unique mission to offer customers a response to Rocket Mortgage while also attacking the serious cost problems involved in producing a loan."

Also in 2017, Cloudvirga raised a $20M Series B led by Blackstone Group (NYSE: BX) portfolio company Incenter. To date, the firm has raised over $27M in total funding to scale its enterprise-class technology and invest in vendor partnerships, including a recently announced integration with Docutech, the industry's leading provider of document and compliance technology.

Cloudvirga hired Schreck, a veteran tech entrepreneur and former Altisource (NASDAQ: ASPS) senior executive, as its new CEO in June. The firm's previous CEO, co-founder Bill Dallas, continues to advise Cloudvirga as chairman of its board of directors.

Since then, Schreck has overseen several high-profile additions to Cloudvirga's leadership team, including the appointment of former ShiftPixy (NASDAQ: PIXY) CFO Stephen DeSantis as chief financial officer; former Intuit (NASDAQ: INTU) and First American (NYSE: FAF) executive Jim Portner as chief product officer; and former Dell (NYSE: DVMT) and IBM (NYSE: IBM) executive Sean McEvoy as chief customer officer.

In December, Cloudvirga co-founder and Chief Strategy Officer Kyle Kamrooz received top industry honors as one of HousingWire magazine's 2017 Vanguard Award winners. He was also recognized by National Mortgage Professional magazine as one of the mortgage industry's most influential professionals under 40.

About Cloudvirga(TM):

Cloudvirga's intelligent mortgage point-of-sale (POS) platforms uniquely combine a world-class borrower experience with a truly digital lender platform that radically cuts overall loan costs, increases transparency and reduces the time to close a loan. Founded by top fintech veterans with a track record of building successful mortgage technologies, Cloudvirga's initial customer roster includes nine of the top 40 non-bank mortgage originators. To date, Cloudvirga has raised over $27 million from some of the country's top lenders and venture capital firms.

For more information, visit http://www.cloudvirga.com/ or follow Cloudvirga on LinkedIn.

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This news story was published by the Neotrope® News Network - all rights reserved.