Business, Free News Articles, Software

National Bankers Association Endorses Promontory MortgagePath for Mortgage Fulfillment Services and POS Technology

DANBURY, Conn. -- Leading digital mortgage and fulfillment solutions provider Promontory MortgagePath LLC today announced the National Bankers Association (NBA) has endorsed its mortgage fulfillment services and proprietary point-of-sale technology, Borrower Wallet®.

Founded in 1927, NBA has served as a voice for minority-owned banks. Its members include Black, Hispanic, Asian, Pacific Islander, Native American and women-owned banks across the country, all working to help low- and moderate-income communities that are underserved by traditional banks and financial service providers. NBA's endorsement recognizes Promontory MortgagePath's mortgage fulfillment service and POS technology for their ability to help minority depository institutions (MDIs) build their mortgage businesses.

Utilizing Promontory MortgagePath, NBA's member banks can offer a full suite of mortgage products without the need to invest in significant internal infrastructure while also lowering their origination costs. In addition, Promontory MortgagePath facilitates secondary market investor relationships to support clients' mortgage origination activities.

"Providing our member banks with technology and solutions that will help them increase access to financial services in minority communities is essential to our work," said Nicole Elam, president and CEO, NBA. "We are pleased to have successfully vetted Promontory MortgagePath, which will offer member MDIs shared access to a mortgage fulfillment solution necessary to making homeownership a possibility in communities aspiring to build generational wealth."

Founded by former U.S. Comptroller of Currency Gene Ludwig, Promontory MortgagePath began with a mission of empowering community banks to participate profitably in mortgage lending. Promontory MortgagePath's community development and minority-owned bank initiative is focused on increasing access to homeownership in underserved communities. Via the initiative, Promontory MortgagePath provides competitive pricing models, access to its user-friendly technology, dedicated U.S.-based teams of mortgage experts and robust strategies to help clients drive origination growth, with the overall goal of helping build long-term wealth in communities through increased homeownership.

"Minority depository institutions are critical conduits for financial services in the communities they serve," said Ludwig, founder and CEO of Promontory MortgagePath. "We are proud to have the endorsement of the National Bankers Association, which for nearly 100 years has supported these important institutions. Promontory MortgagePath is committed to working with the NBA to increase access to homeownership, which is central to wealth building in these communities and the American Dream."

The National Bankers Association joins the Community Development Bankers Association (CDBA) and American Bankers Association (ABA), as well as a growing list of state banking associations, in endorsing Promontory MortgagePath's services and technology.

About National Bankers Association

Founded in 1927 as the Negro Bankers Association, today, the association NBA has expanded its membership to also include Hispanic-American, Asian-American, Native American, and women-owned banks. Member banks are located in twenty-two states and the District of Columbia. Recognized as the voice of minority banking in the U.S., the NBA continues its role as chief advocate for these banks in the nation's capital. Through the decades, NBA has helped to shape public policy at the White House, on Capitol Hill, within the regulatory community and throughout the federal bureaucracy. For more information, visit https://www.nationalbankers.org/.

About Promontory MortgagePath LLC | NMLS ID 1532373

Promontory MortgagePath is a fast-growing team of passionate problem solvers on a mission to fundamentally change the way lenders approach their mortgage business. The company combines an intuitive, collaborative digital mortgage platform with modern, comprehensive fulfillment services, giving lenders the progressive technology and scalability required to profitably compete in today's rapidly changing residential mortgage market. Promontory MortgagePath's founder, former U.S. Comptroller of the Currency Gene Ludwig, is widely recognized as a visionary thinker on the critical issues confronting financial services, and his companies are renowned for helping community lenders resolve their most pressing challenges. To learn more, visit https://www.mortgagepath.com.

Related link: https://www.mortgagepath.com/

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Business, Free News Articles, Software

Cloudvirga Selected to Demo Mobile POS at MBA Annual Conference and Expo in Washington, DC

IRVINE, Calif. -- Cloudvirga(TM), a leading provider of digital mortgage software, announced that it has been selected to demo its recently launched Mobile POS at the Mortgage Bankers Association's Annual Conference & Expo 2018, taking place October 14-17 at the Walter E. Washington Convention Center in downtown Washington, D.C.

Cloudvirga Mobile POS is a mobile-first mortgage point-of-sale solution tuned to serve the needs of loan originators and homebuyers in a purchase mortgage environment. The platform was unveiled September 17 from the stage of the Digital Mortgage conference in Las Vegas.

Backed by the same intelligent mortgage engine that powers Cloudvirga's award-winning Enterprise POS, the Mobile POS allows loan originators to collaborate with borrowers and real estate agents seamlessly and from any web-enabled device.

"Cloudvirga Mobile POS delivers the industry's most advanced digital mortgage technology to loan originators, borrower and real estate agents anytime, anywhere," said Kamrooz. "The marriage of effortless collaboration and productivity-enhancing automation is a must-have for lenders in today's competitive purchase market."

The conference's Discovery Stage is spotlighting the industry's hottest products and services. Cloudvirga will present its Mobile POS at 1:15 p.m. on Monday, October 15 with company Co-founder Kyle Kamrooz leading the demo. Cloudvirga also encourages attendees to visit its booth #455 in THE HUB during Sunday's opening reception or during exhibition hours on Monday (10 a.m. - 5:30 p.m.) and Tuesday (9:30 a.m. - 4 p.m.).

The Mortgage Bankers Association (MBA) is the leading national trade association for the mortgage industry. The MBA's Annual Convention & Expo is the country's largest gathering of real estate finance professionals.

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. Founded 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 http://www.cloudvirga.com or follow Cloudvirga on LinkedIn.

Twitter: @Cloudvirga #MBAAnnual18 #mortgagePOS

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Business, e-Commerce, Free News Articles, Software

Digital Mortgage Point-of-Sale Pioneer Cloudvirga Hires Sean McEvoy as Chief Customer Officer

IRVINE, Calif. -- Cloudvirga(TM), developer of intelligent mortgage point-of-sale (POS) platforms, has appointed Sean McEvoy as its chief customer officer. As a member of the senior leadership team, McEvoy will be responsible for the firm's customer leadership, implementation and support functions. He has an extensive background in building world-class customer success organizations at FileNET, IBM, Quest and Dell. He will report to Cloudvirga CEO Michael Schreck.

McEvoy joins on the heels of Cloudvirga's recent addition of five top-30 lender customers to its digital mortgage platform. He brings a global skill set and a track record of success from roles that include vice president of global services and customer support for Dell Technologies (NYSE: DVMT). While there, McEvoy led a team of more than 900 global customer success, support and professional service engineers and contributed to hundreds of millions of dollars in software services and maintenance/renewals business growth.

McEvoy's other career accomplishments include establishing a $200 million renewal sales channel as a business unit executive for IBM (NYSE: IBM); overseeing six acquisitions and launching offshore delivery centers as vice president of support services for Quest Software (acquired by Dell in 2012); and serving as global director of technical consultancy services while vice president of technical operations for FileNET (acquired by IBM in 2006). He holds a master's degree in international business administration and a bachelor's degree in software engineering.

"Delighting our leading lending customers, which include five of the top eight non-bank originators, is core to Cloudvirga's mission in 2018," said Schreck. "We are bulking up our customer success organization to support a growing client base that produced over $100 billion in mortgages in 2017 and employs thousands of loan officers. Sean is a proven leader who can scale enterprise-class organizations to help ensure their success."

"As a software-as-a-service provider, Cloudvirga's long-term success hinges on our ability to help customers meet their desired outcomes," said McEvoy. "I look forward to helping Cloudvirga deliver on this mission."

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 $25 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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*Photo Caption: Cloudvirga Appoints Sean McEvoy as Its Chief Customer Officer.

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Alliances and Partnerships, Business, Free News Articles, Software

Docutech and Cloudvirga Partner to Help Loan Officers Work More Efficiently

IRVINE, Calif. -- Cloudvirga(TM), developer of intelligent mortgage point-of-sale (POS) platforms, today announced a partnership with Docutech that will enable Cloudvirga's lender customers to work more efficiently, reduce the cost of document compliance and make the home loan experience more convenient for borrowers.

Docutech is the leading provider of document and compliance technology for mortgage, home equity and consumer lending. Its flagship ConformX(TM) dynamic document generation engine will integrate seamlessly with Cloudvirga's digital mortgage platform, pulling data directly from the POS and leveraging rules-based intelligence to automate the creation of accurate and compliant loan disclosures for all 50 states. The combination of Cloudvirga's comprehensive loan data and Docutech's built-in compliance checks will give loan officers confidence that loan packages are accurate and compliant from the start.

Cloudvirga will also offer Docutech's Solex(TM) eSign and eDelivery functionality. Solex enables borrowers to compliantly review and sign documents using any web-enabled device. When paper delivery of the loan package is required, ConformX print and mail fulfillment service will ensure documents are delivered in the required timeframes.

"By seamlessly combining Cloudvirga's automated workflow, comprehensive guidelines and calculations for all loan products with Docutech's comprehensive suite of document and compliance solutions, we're empowering loan officers to generate disclosures with ease - and to get it right the first time, every time," said Cloudvirga Co-founder and Chief Strategy Officer Kyle Kamrooz.

"Our integration with Cloudvirga enables us to help more loan originators transition away from paper processes that are manual, time-intensive and inflexible in favor of dynamic, technology-enabled processes that streamline operations, improve processing speed and accuracy, reduce cost and delight customers," said Amy Brandt, president and COO of Docutech.

Eight of the top 40 non-bank lenders have chosen Cloudvirga because it re-engineers the mortgage workflow to give consumers greater control over the loan application process and accelerate the mortgage sales funnel for loan officers. The company's digital mortgage technology delivers underwriter-ready loan applications with unmatched speed and quality, resulting in massively reduced costs to produce.

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 eight of the top 40 non-bank mortgage originators. To date, Cloudvirga has raised over $25 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.

About Docutech

Founded in 1991, Idaho Falls, Idaho and Scottsdale, Ariz.-based Docutech offers a wide range of document technology solutions for mortgage, home equity, and consumer lending from document generation to eDelivery, eSign, eClose, and print fulfillment. The company sets the standard in providing market-proven technology and unrivaled customer service to the financial industry. Docutech's knowledge and solutions empower lending professionals to efficiently produce accurate loan packages in all 50 states to ensure compliance with constantly changing laws and regulations. For more information, visit the company's website at http://www.docutech.com or follow them on social media at LinkedIn or Twitter @Docutech.

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Business, e-Commerce, Free News Articles

Cloudvirga Introduces AccountChek Automated Asset Verification into Its intelligent Mortgage Platform

ATLANTA, Ga. -- FormFree today announced that cloudvirga(SM), developer of the automated, cloud-based intelligent Mortgage Platform(R) (iMP), has selected AccountChek(TM) for automated asset verification. Cloudvirga's custom integration of AccountChek into the iMP collects borrower account information early in the loan application process and offers a seamless asset verification experience unlike any other mortgage point-of-sale (POS) system in the marketplace today.

"Cloudvirga is re-engineering the mortgage workflow with a relentless focus on increasing efficiency and driving down the cost of lending," said Kyle Kamrooz, co-founder of cloudvirga. "Our partnership with AccountChek by FormFree exemplifies how cloudvirga delivers on the promise of true automation."

A next-generation mortgage POS system, the iMP takes consumer empowerment way beyond the typical digital loan application while automating the entire initial disclosures process for loan officers and consumers in all 50 states. The POS gives consumers and loan officers an automated, intuitive and compliant workflow while moving many traditional back-office tasks to the front of the loan process.

FormFree's flagship app, AccountChek allows borrowers to securely link asset and deposit data from virtually any financial institution. Within seconds, lenders receive detailed analysis on the borrower's ability to repay. Trusted by hundreds of lenders and hundreds of thousands of borrowers, AccountChek was the first provider of asset verification to participate in Fannie Mae's Day 1 Certainty(TM) initiative.

"AccountChek is a perfect fit for the intelligent Mortgage Platform, not just because we're the most trusted name in asset verification, but also because we share cloudvirga's vision of a more modern and efficient way of lending," said Brent Chandler, chief executive officer and founder of FormFree. "By not only collecting but applying sophisticated analysis to borrower data, AccountChek completely eliminates the need for back-office verification."

About cloudvirga(SM):

Cloudvirga is the company behind the cloud-based intelligent Mortgage Platform(R) (iMP) designed to streamline the mortgage process. The platform is digitizing the mortgage industry by deploying an automated workflow to reduce overall cost, increase transparency and shorten the time it takes to close a loan for both borrowers and lenders. Founded by Bill Dallas, Kyle Kamroo, and Mark Attaway, seasoned financial veterans with a proven track record of building mortgage-related technologies, cloudvirga is disrupting the antiquated mortgage industry.

For more information, visit http://www.cloudvirga.com/ or follow cloudvirga on LinkedIn at https://www.linkedin.com/company-beta/7577062/.

About FormFree:

Leading lenders trust Athens, Georgia-based FormFree to deliver automated verification solutions that streamline the loan origination process and provide better intelligence on borrowers' ability to repay. FormFree's flagship app, AccountChek(TM), eliminates the hassle of collecting paper statements from borrowers by using direct-access data untouched by human hands to consolidate, analyze and verify assets. Lender tested and GSE approved, AccountChek securely delivers automated asset verification data and on-demand reports to more than 200 leading U.S. lenders and their millions of customers. FormFree was named one of American Banker magazine's "Top 10 Tech Companies to Watch" in 2015.

For more information, visit http://www.formfree.com/.

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