From new partnerships and programs to new tech, get the latest industry buzz in this update.
Carrollton, Texas-based legal and financial services technology provider, a360inc [1] has announced that Chicago-based Knox Capital [2], an affiliate of Morgan Stanley Private Credit and ORIX Mezzanine & Private Equity, has made a strategic investment in the company.
With this new capital investment, a360inc plans to accelerate the strategic expansion and improvement of its technology and services in the creditors’ rights market through direct investment and acquisition.
“Today’s default market is primed for modernization and evolution, and this investment allows us to focus on the future,” said Scott Brinkley, CEO of a360inc. “a360inc sees a massive opportunity in creating a market-leading technology and services platform built around all vendor constituents in our ecosystem: from law firms and their vendors to the ultimate end-client: Mortgage servicers and investors.”
The company said that the Knox Capital investment allows a360inc to immediately pursue additional acquisitions that fill gaps in the company’s offerings while facilitating further advances and cross-platform integration of its current technology and outsourced services.
“We’re excited to partner with Scott and the team he’s built to help lead a360inc into the future. The market is well-positioned to continue to adapt and evolve with technology and outsourced services, and we see a360inc as the company to lead that change,” said Mike Bryant, Partner at Knox Capital.
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Mortgage Cadence [3], an Accenture company, has integrated CoreLogic’s Print and Ship secure document delivery solution with the latest version of Mortgage Cadence Enterprise Lending Center (ELC). The integration enables ELC users who contract with CoreLogic to reduce manual processes and document delivery barriers.
“We’re very pleased to bring our ELC clients this CoreLogic functionality, as it helps them mitigate risk and to lower their cost to originate,” said Bryan Ireton, Accenture’s Managing Director for Mortgage Cadence. “Having one-click access to CoreLogic’s Print and Ship solution helps expedite delivery of critical mortgage documents and reduce risks related to manual shipping processes.”
CoreLogic offers one of the industry’s most-automated print-and-ship services, including features such as pullback, in-line quality control, rich real-time reports and a white-glove project management team for lender customer support. With multiple print-and-ship locations to support all time zones, CoreLogic assists with same-day print and ship services, e-delivery capabilities and output return files nationwide.
“CoreLogic is excited to extend functionality for Mortgage Cadence clients by providing access to one of the most automated print and ship services in the industry,“ said Sapan Bafna, a senior leader for advanced delivery engines at CoreLogic. “Our comprehensive reporting and clients-first project management approach helps facilitate enhanced levels of performance and efficiency.”
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Vendorly [4], a vendor oversight platform for financial institutions, is providing NTFN with a third-party risk management (TPRM) solution to maximize the company’s TPRM processes and minimize the risk presented by their large network of third-party vendors.
Through the Vendorly solution, NTFN has been able to successfully streamline their vendor management procurement and vetting process, saving in excess of 50% of their prior vendor management spend.
NTFN is a full-service mortgage banker established in 1992 and headquartered in Lewisville, Texas. NTFN partners with mortgage and technology-fulfillment vendors throughout the U.S. to produce an efficient and credit-worthy loan. NTFN found that in order to continue delivering first-class customer service, their vendor oversight program needed a comprehensive solution to track their 400-plus vendors.
NTFN initially managed vendors with a manual in-house process and turned to Vendorly’s software and services to streamline their vendor management procurement and vetting process. With Vendorly’s onboarding tools and TPRM support team, NTFN gained economies of scale and was able to focus on addressing identified vendor risks as opposed to time consuming and more mundane paper and electronic document collection and review. In addition, NTFN was able to save money on Vendorly license costs as a member of Lenders One, a national alliance of independent mortgage bankers.