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IRVINE, Calif., Oct. 09, 2019 (GLOBE NEWSWIRE) -- To improve the digital mortgage experience, Cloudvirga, digital mortgage software provider, and Envoy Mortgage Ltd, an independently owned national mortgage lender serving retail originators, have partnered to provide the Cloudvirga Digital Mortgage Platform to Envoy Mortgage loan officers and borrowers.
Envoy Mortgage, in its continual efforts to improve originator and borrower experiences, was looking for a solution that would modernize its digital application, help reduce costs, increase transparency, and reduce closing times by half or more. Envoy chose Cloudvirga because it met these objectives by providing a world-class experience to both consumers and loan originators with its automated lender workflow.
The new technology partnership reflects a decision by the executive team at Envoy Mortgage to prioritize the implementation of an integrated infrastructure solution to enhance loan originator efficiency, effectiveness, and productivity in an increasingly competitive market.
“We are excited that Envoy Mortgage has chosen to partner with Cloudvirga for a highly-automated loan manufacturing experience to help further increase the efficiency of its loan originators,” said Cloudvirga CEO Dan Sogorka. “We look forward to supporting Envoy Mortgage’s commitment to enabling consumers to find the best possible loan options and close them quickly and effortlessly.”
The Cloudvirga Digital Mortgage Platform cuts the time it takes to traditionally close a mortgage by streamlining the digital mortgage application process for both loan officers and consumers. Today, Cloudvirga’s technology powers nearly $200 billion in loans annually and is used by ten of the country’s top 40 mortgage originators.
“This commitment, along with an internal process redesign, will result in a true transformation, positioning us very well for the future,” said Envoy Mortgage CIO Dan Mulberry. “It ensures our loan originators can provide referral sources and borrowers an awesome experience from start to finish. The platform also guides consumers through an intelligent workflow that automatically populates the loan application and starts verifying borrower data immediately for a uniquely streamlined experience.”
The Cloudvirga Digital Mortgage Platform, uniquely combines a world-class borrower experience with an automated lender workflow that radically cuts overall loan costs, increases transparency and reduces the time to close a loan. Led by top fintech veterans with a track record of building successful mortgage technologies, the Cloudvirga customer base includes ten of the top 40 non-bank mortgage originators. To date, Cloudvirga has raised over $77 million from some of the country’s top lenders and private-equity firms. For more information, visit cloudvirga.com.
About Envoy Mortgage
Founded in 1997, Envoy Mortgage is an independently owned national mortgage lender headquartered in Houston, Texas, and dedicated to serving retail originators exclusively to allow them to serve their customers and grow their businesses. As a Fannie, Freddie and Ginnie approved seller/servicer, Envoy offers a full menu of loan products with locations across the U.S. Licensed in 48 states, Envoy branches deliver outstanding customer service while offering a full menu of loan products with the tools, expertise and technology needed to support all functions of the mortgage process. More information is available at envoymortgage.com. Envoy Mortgage, Ltd. NMLS #6666.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8188a25c-fbac-43c4-9b87-98864cfe161e