*Mortgage Cadence/Prime Alliance Acquisition Takes Shape*
**By Tony Garritano**
***PROGRESS in Lending was the first to tell you when Mortgage Cadence LLC, a provider of Enterprise Lending Solutions (ELS), Document and Compliance Services, and Default Servicing Technology for the financial services industry, acquired Prime Alliance. Going further, the joint company has now released prime+ 12.1, which will be installed for all Prime Alliance customers on August 21, 2012. This release offers loan officers and production teams 45 new tools and alerts designed to increase efficiency, enhance communication, and speed loan closings.
****prime+ 12.1 benefits the entire mortgage team. The idea is simple: automate notifications throughout the mortgage process that prompt action and alert team members and borrowers to important changes and events impacting the lending lifecycle. “Staying on top of every detail has always been important during loan origination but is now essential due to ever-increasing regulations, which have created stricter compliance standards. This release provides tools that keep everyone informed, help speed processes, and ease compliance burdens,” said Dan Green, executive vice president of marketing, Mortgage Cadence. prime+ 12.1 will be installed for all customers on August 21st and 23rd. “The release of 12.1 marks a dozen years of consistent enhancement,” he concluded.
****“With the complete prime+ mortgage platform, which facilitates mortgage lending from origination through closing and funding, Mortgage Cadence offers the most complete and advanced suite of products in the lending technology industry,” said CEO of Mortgage Cadence, Mike Detwiler. “Our acquisition of Prime Alliance Solutions and the remarkable systems they have built over more than a decade puts our customers years ahead. The time is now for all credit unions to build and execute sustainable mortgage lending strategies. There simply isn’t time to wait for technology to catch up”, he stated.
****Mortgage Cadence’s next release of prime+ occurs this December with version 12.2. “We are very pleased with 12.1. 12.2 raises the bar throughout the enterprise lending industry,” concluded Detwiler. “Our culture is one of constant, continuing technological advance supporting our customers’ needs in ways unmatched by all competitors.”
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 firstname.lastname@example.org.