Mortgage Cadence, an Accenture company, has reached an agreement to license FirstClose’s proprietary integration hub software platform, which provides loan services throughout the mortgage-origination process. The agreement will enable third-party service providers to integrate their services into Mortgage Cadence’s existing end-to-end loan origination product suite more quickly, providing lenders with additional one-stop loan origination capabilities.
After an extensive evaluation of third-party integration platforms, Mortgage Cadence determined FirstClose’s user-friendly vendor management system to be the most modern and robust on the market, complementing its own product suite. Mortgage Cadence will include FirstClose’s technology in the first phase of its new third-party integration architecture, known as Services Center 2.0, in which vendors will be able to integrate their services into the Mortgage Cadence product suite quickly and easily.
With FirstClose’s existing portfolio of services, Mortgage Cadence will immediately expand the scope of services it provides to include those related to:
>> Property valuation (e.g., appraisal, automated valuation model (AVM), condition reports, recertification, property details);
>> Title (e.g., American Land Title Association (ALTA), legal and vesting, property reports);
>> Income and tax verification; and
>> Mortgage insurance.
“By empowering vendor partners to integrate their solution into our product suite, we’re giving our clients access to a wider variety of services to meet their needs, including new categories like borrower asset verification and document aggregation,” said Trevor Gauthier, Mortgage Cadence’s president and chief operating officer. “The development of Services Center 2.0 is just one step in our continued efforts to fuel lender success by meeting the ever-changing needs of the marketplace.”
Mike Detwiler, Mortgage Cadence’s chief executive officer and a senior managing director at Accenture, said, “The addition of FirstClose’s technology is consistent with our broader strategy of augmenting development capabilities through strategic technology tuck-ins and will enhance our ability to serve our mortgage lending customers with the industry’s leading loan-origination platform.
About The Author
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 email@example.com.