LoanLogics on Thursday announced changes to its executive leadership positions, with Dave Parker stepping in as new CEO upon the departure of CEO Bill Neville.
Neville said he is leaving LoanLogics, a data-driven mortgage audit, income calculation and loan quality software provider, in the “capable hands” of Parker.
“Dave Parker understands the business side of mortgage lending and has brought to market new solutions that cut to the core of what the mortgage industry needs,” Neville said in a statement.
Parker said that as the new CEO, his goal is to focus on automation and new technologies that can help lenders and other servicers tackle high costs and the recent downturn in mortgage originations.
Parker joined LoanLogics as the SVP of product management in 2019 and later became the EVP of product. His professional career spans three decades and roles in companies of varying growth stages, with leadership positions at Fiserv, CoreLogic and Wells Fargo Home Mortgage. Parker was named a HousingWire Vanguard Award winner in 2019.
Neville joined the company’s board of directors in 2017 as a mortgage industry veteran and was appointed president and COO in 2018. He was named CEO in 2019.
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Prior to joining LoanLogics, Neville was president of North America for fintech provider Finastra after serving as president of U.S. business at D+H. While at D+H, Neville contributed to the company’s acquisition of Mortgagebot, Avista Solutions and Harland Financial, according to the statement.
Neville also contributed to LoanLogics and Finastra’s partnership, which highlighted the use of LoanLogics’ automated document processing capabilities at the National Mortgage News Digital Mortgage Conference in 2022.
“Bill’s leadership through one of the most dynamic eras in our company’s history has been remarkable,” Parker said of Neville. “Bill has also left LoanLogics in peak operational shape to weather the current industry conditions and thrive beyond them.”
In addition, former EVP of technology and operations Paul Vancheri was named president and COO of the company. Vancheri spearheaded the development of APIs for LoanLogics products, including the cloud-based digital assistant LoanLogics IDEA OnDemand, which automates loan document processing to reduce costs for originators.
The leadership at LoanLogics offers a combination of expertise in mortgage operations and technology, said Parker.
“We know data is useless if lenders and servicers can’t get it right. With our technical capabilities and intellectual property that place data, doc processing and rules automation at our core, we’ll be able to continue lowering costs for our clients across origination and secondary market processes,” Parker said.
LoanLogics was acquired by private investment firm Sun Capital Partners in 2021.
That same year, LoanLogics acquired LoanBeam, a self-employment income calculation company endorsed by Fannie Mae and Freddie Mac. In April 2022, LoanLogics launched LoanBeam Wage to calculate a borrower’s income with paper-based pay stubs and W2s, using machine learning and character recognition technologies.
In August 2019, LoanLogics was selected as the technology provider behind Freddie Mac’s Freddie Automated Servicing Transfer (FAST) for faster MSR transfers to Freddie Mac’s Cash-Released XChange.