Mortgage Cadence Teams with Investment Partner to Support Growth, Advance Offerings and Further Solidify Leadership Position
Superior Technology Solutions, Seasoned Staff and Clear Vision Attracts Monitor Clipper Partners to Become a Strategic Partner as Mortgage Cadence Expands Product Offerings While Continuing to Focus on Providing World Class Customer Service Tuesday, August 10, 2010 Denver, CO Mortgage Cadence, LLC, a leading provider of Enterprise Lending Solutions (ELS), Loss Mitigation Technology and Document Services for the financial services industry, announced today that Monitor Clipper Partners has invested in the company. Berkery Noyes advised Mortgage Cadence on this investment. This investment provides Mortgage Cadence with the capital to expand its market-leading product and service offerings. Through both strategic acquisitions and internal initiatives, the Company's growth will enable it to continue to exceed customer expectations and serve a wide range of market participants. Serving the mortgage industry since 1999, Mortgage Cadence is a software solution provider whose founding represented the confluence of long-standing expertise in financial services, software development and web-enablement. The Company originally developed a highly regarded enterprise solution that integrated all functions and data elements required to manage and optimize lending performance. The technology behind the product suite continues to provide automation of processes while delivering validation tools, analytics and document preparation and electronic delivery services. The robust architecture of this platform and the flexibility of the software allowed Mortgage Cadence to expand beyond forward origination technology and realize considerable success in areas such as reverse mortgages, document preparation and delivery, distressed assets and loss mitigation technology. Mortgage Cadence remains ahead of the curve by anticipating the future needs of its clients and adapting and growing with them. This proactive approach to innovation has placed Mortgage Cadence at the forefront of the industry from a technology and thought leadership perspective. "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. Thanks to our understanding of the evolving needs of a market in flux, Mortgage Cadence has grown rapidly over the last few years and is well-positioned to maintain this trajectory. Adding Monitor Clipper Partners to the team helps solidify Mortgage Cadence's position as the industry's premier technology provider. 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." Mortgage Cadence's business model is built on assisting companies with their strategic goals by increasing loan volume, minimizing corporate risk and compliance issues, managing the complex world of documents and streamlining operational processes. Mortgage Cadence operates in a financial market that is increasingly dependent on reliable technology to process information and data while maintaining compliance and a low cost model. The ability to efficiently automate analysis, task completion, oversight and compliance while enforcing internal processes has become a critical need for lending participants as the current market is seeing a surge of stringent regulatory changes, agency and investor guidelines and complex market demands. As a result, participants in today's marketplace need to achieve greater efficiencies and regulatory compliance through technology and process in order to compete and remain viable. Mortgage Cadence is the only focused end-to-end enterprise lending solution in the industry and is uniquely positioned to meet the needs of this marketplace today and in the future. "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. 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."