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Cloudvirga Introduces Intelligent Mortgage Platform® to Reinvent Arduous, Antiquated Lending Practices
  • USA - English


News provided by

cloudvirga

Mar 24, 2016, 09:00 ET

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IRVINE, Calif (PRWEB) March 24, 2016 -- Cloudvirga today officially debuted its intelligent Mortgage Platform® (iMP), the industry’s first comprehensive digital mortgage platform effectively alleviating the pain points, cost and time associated with the mortgage process. The iMP is a proprietary solution for consumers and lenders, built for today’s rigorous loan compliance requirements in the post-housing-crises market. Cloudvirga has already processed nearly $5 billion in loans, successfully digitizing many of the tasks needed to close a loan and reducing closing time from months to days.

"We must fundamentally transform how loans are done. This is a movement to totally change mortgage lending and we are passionate about solving this problem,” said Kyle Kamrooz, co-founder and COO of cloudvirga.

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Having identified the numerous manual and redundant efforts it takes to close a file, cloudvirga is tackling the mortgage process with a platform that delivers an improved experience for consumers. Lenders are able to increase volume and reduce cost by streamlining and automating 50-60 percent of the front- and back-end processes.

“The true benefit is not just a better online application. Consumers want the mortgage process to be painless, simple, cheaper, transparent at all times; lenders want to reduce overall cost to produce and increase loans per full time employee or FTE,” said Kyle Kamrooz, co-founder and COO of cloudvirga. “We are excited to deploy iMP with several lender partners that share our core belief that we cannot simply ‘shift’ from one software platform to another – that instead, we must fundamentally transform how loans are done. This is a movement to totally change mortgage lending and we are passionate about solving this problem.”

Cloudvirga is founded by Bill Dallas, Kyle Kamrooz, and Mark Attaway, seasoned mortgage & tech veterans with a proven track record of building mortgage-related technologies and driving automation. The newly released platform combines three emerging trends in technology: cloud storage and security; digitization of images to useable data; and an intelligent workflow. The iMP is digitizing the mortgage industry by leveraging data and deploying an automated workflow to reduce overall cost, increase transparency, and shorten the time it takes to close a loan.

“Gaining insight of a major lender provided unparalleled access to the challenges in the industry and we wanted to approach these concerns like never before” said mortgage industry veteran and technology visionary, Bill Dallas, co-founder and CEO of cloudvirga. “Billions of dollars in loans later, our platform has proven to solve workflow challenges, redundancies, manual processes and inefficiencies involved in closing a loan. The platform allows consumers and lenders to interact and live in one system with complete transparency. As the platform evolves, we will soon see significant reductions of 60-80 percent in the cost of each loan, as well as a closing time of a few of days rather than months.”

Cloudvirga is offering private preview appointments to demo the intelligent Mortgage Platform at the MBA Tech Conference taking place in Los Angeles on April 3-6, 2016. For more information or to schedule an appointment, please contact Karen Sorenson at cloudvirga(at)PMBCGroup.com.

About cloudvirga
Cloudvirga is disrupting an industry entrenched in labor-intensive processes, fragmented systems and heavy regulations with the intelligent Mortgage Platform®, a SaaS solution that empowers consumers, drives down costs for lenders and introduces true automation to the mortgage process. For more information, visit http://www.cloudvirga.com.

Media Contacts
Karen Sorenson
PMBC Group
Karen(at)pmbcGroup.com
310-777-7546

Kyle Kamrooz
Cloudvirga
Kyle(at)cloudvirga.com
949-279-7551

Karen Sorenson, cloudvirga, http://www.cloudvirga.com, +1 310-777-7546, [email protected]

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