Mortgage Cadence announced it received an investment from Monitor Clipper Partners to expand its product and service offerings on Tuesday. The company said it will help to expand its product and service offerings through strategic acquisitions and internal initiatives.
Mortgage Cadence is a provider of enterprise mortgage lending solutions, loss mitigation technology and documents services for the financial services industry. The company also provides technology to reverse mortgage lenders through its Orchestrator product and Finale Document preparation services.
“The driving force behind Monitor Clipper Partners’ decision to invest in Mortgage Cadence is our commitment to providing financial institutions with the last lending platform they will ever need,” stated Michael Detwiler CEO of Mortgage Cadence. “Mortgage Cadence has thrived over the past eleven years due to our outstanding team and a culture that has always been innovative and adaptive to the industry. We have a deep understanding of the market’s needs, facilitating our ability to rapidly deploy solutions that meet the ever-changing demands of our clients.”
“Adding Monitor Clipper Partners to the team helps solidify Mortgage Cadence’s position as the industry’s premier technology provider,” said Detwiler. “Monitor Clipper’s capital and expertise will enable us to continue to distance ourselves from the competition in our current markets and position ourselves for success in future target markets.”
Monitor Clipper Partners is s a Cambridge, MA based independent private equity firm that manages over $2 billion in capital with approximately 1,000 professionals in 29 offices worldwide. According to the company website, Mortgage Cadence is its first investment into the financial services area.
“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. “The management team has a proven track record of realizing impressive growth and profitability while maintaining the vision to continually adapt to market conditions.”
Adding, “Mortgage Cadence is well positioned to execute on numerous significant development opportunities including further penetration of their existing solutions, creating new solutions in related areas and acquiring attractive industry players.”
Terms of the investment were not disclosed.
