Market Analysis: An Industry Vet Resurfaces

*An Industry Vet Resurfaces*
**By Tony Garritano**

***I’ve been in this industry for over 10 years now, with a focus on mortgage technology for eight of those years. In that time I have had the great pleasure of making lifelong friends. For me, this is all about the people. That’s what makes the mortgage industry so special. One such person that I got to know was Phil Huff. I wouldn’t say that we were friends, but I certainly respected him. One time he invited me to a baseball game and I almost ended up getting arrested, but that’s another story entirely. So, I was delighted to hear this morning that he’s back in the space. Here’s what he’s up to now:

****Platinum Data Solutions, a provider of collateral valuation technologies, has appointed industry veteran Phil Huff as its new chief executive officer. He succeeds the company’s founder, Rocky Donathan, who will maintain an active role in the company. Mr. Huff, who was the co-founder and CEO of secure document technology provider eLynx, was selected to spearhead the company’s strategic growth plan.

****Huff has over 25 years of executive level experience. During his tenure with eLynx, he successfully grew the company and positioned it for acquisition, ultimately securing over $40 million in outside investment. Prior to joining Platinum Data, he was CEO of Brandwatch Technologies, a provider of brand security and product authentication technologies to companies worldwide. During his four-year tenure with Brandwatch, Huff led the company’s successful turnaround, tripled revenues and recruited a new management team. He also served as an Executive-in-Residence at CincyTech USA, a seed-stage investment company focused on technology and life science companies in Southwest Ohio.

****“Increased federal legislation and stricter interagency guidelines are forcing lenders, investors, AMCs and servicers to increase their focus on the accuracy and timeliness of collateral information—which is the exact domain of Platinum Data Solutions,” said Huff. “Our technology platform is highly configurable and can react to our customers’—and the industry’s—needs very quickly, which has proven to be a real differentiator for us. We have the quality-enhancing solutions that can not only prevent buybacks, but also ultimately play a huge role in healing and elevating our industry, and we fully intend to leverage the opportunities that stand before us.”

****Platinum Data Solutions provides a wide range of products and services that enhance the quality of appraisal work by detecting errors, inconsistencies and other “red flag” items that can signal appraisal inaccuracies or fraud. Platinum’s flagship product is called REALview. The company also provides automated quality control and retrospective quality control technologies, pre-qualification and fraud-detection products, automated valuation models (AVMs), and more.

****“Platinum Data has aggressive goals for the next phase of the company, and we need strong leadership to achieve those goals—that’s exactly what we have with Phil,” said Donathan. “I couldn’t be happier to welcome Phil to the company. He brings a proven track record of growing companies and maximizing revenue. I am very much looking forward to taking an active role in working with him as he leads this company to the next level.”

****Welcome back Phil!

Tony Garritano
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.