Loss mitigation technology, lending solution and document services provider Mortgage Cadence is partnering with an investor to help fund the expansion of its product offerings.
The company tapped Monitor Clipper Partners to provide an undisclosed amount of capital as a strategic partner.
"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," said Mortgage Cadence CEO Michael Detwiler. "Monitor Clipper's capital and expertise will enable us to continue to…position ourselves for success in future target markets."
Mortgage Cadence offers a platform of services to increase loan volume, minimize corporate risk and compliance issues and streamline the documentation process.
"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," said Monitor Clipper partner Adam Doctoroff.
"With its history of product innovation, deep industry expertise and reputation for service excellence, 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."
Write to Diana Golobay.