Technology solutions provider Mortgage Cadence will announce in the coming days that it recently secured private-equity backing from Monitor Clipper Partners. The release will say "this investment provides Mortgage Cadence with the capital to expand its market-leading product and service offerings." Make no mistake, though, that Mortgage Cadence is looking to "beat the pants off" the competition, a source tells HousingWire. In a conversation with Mortgage Cadence CEO Mike Detwiler, the official reaction is more level. "[Monitor sees] the ability for our firm to provide solid return on their investment over time while providing quality service to an underserved space. They see our potential to become a financial services powerhouse that dominates the origination space." Detwiler could not reveal the monetary commitment of Monitor, except to say that it comes very hands-off. "They like our technological and intellectual property, our management team and more importantly our ability to combine the two in a way that allow us to get into different types of businesses quickly and effectively," he said. "Basically, they like how management can leverage our intellectual property to expand into new markets." Private Equity firms sometimes cut staff in order to raise margins, but that's something that won't happen at Mortgage Cadence, as the firm plans a round of executive hirings and is already using the investment to complete four acquisitions. “Mortgage Cadence represented a rare opportunity to invest in the leading provider of powerful enterprise technology solutions for financial institutions operating in the mortgage and mortgage services markets,” stated Adam Doctoroff, partner at Monitor Clipper Partners, which had yet to invest in the mortgage finance universe. Write to Jacob Gaffney. The author holds no relevant investments.