WASHINGTON, Jan. 8, 2020 /PRNewswire-PRWeb/ -- Promontory MortgagePath LLC has consolidated its family of companies into one entity with a singular focus on driving down the cost and time required to originate mortgages.
The move blends three distinct teams with complementary skills and strengths, uniting Promontory Fulfillment Services LLC (PFS) and PromonTech LLC under their former parent-company banner — Promontory MortgagePath. Since their founding in 2015, the three companies have worked collaboratively to provide technology-driven mortgage fulfillment solutions — with PromonTech developing proprietary point-of-sale mortgage technology, PFS providing comprehensive third-party mortgage fulfillment services, and Promontory MortgagePath concentrating on leadership and strategy. Now, all functions will be unified as Promontory MortgagePath.
"Integrating our powerhouse teams represents a strategic realignment of our mission to provide lenders with best-in-class, tech-enabled mortgage fulfillment services that improve borrower experience, ensure regulatory compliance and lower the cost of origination," said Gene Ludwig, Promontory MortgagePath's chairman, founder and CEO. "Our goal in joining these three entities together under a single brand is to ensure Promontory MortgagePath can innovate even faster and flawlessly execute in a rapidly evolving business landscape, to the benefit of our clients and their customers," he added.
Promontory MortgagePath provides a comprehensive set of mortgage origination and fulfillment solutions, with innovative point-of-sale technology and processes. Lenders working with Promontory MortgagePath determine their product- and loan-pricing strategies and deploy their own loan officers to co-pilot the application process, while entrusting Promontory MortgagePath with the intensive tasks of processing, underwriting and closing loans in the lender's name.
"Community-based lenders see mortgages as a core loan product and recognize that strategic partnerships can deliver scale and technology necessary to compete profitably," said Paul Katz, managing director and head of bank relations at Promontory MortgagePath. "This integration was driven by our relentless focus on helping clients enhance their customers' digital mortgage experience and improve mortgage origination profitability."
About Promontory MortgagePath
Promontory MortgagePath LLC combines extensive lending expertise with trailblazing tech leaders to provide efficient, cost-effective mortgage fulfillment solutions and point-of-sale technology to lenders of all sizes. Founded in 2015, Promontory MortgagePath is a fast-growing team of passionate problem solvers on a mission to fundamentally change the way lenders approach their mortgage businesses. The company's founder, former U.S. Comptroller of the Currency Gene Ludwig, is widely recognized as a far-sighted thinker on the critical issues confronting financial services and his companies are renowned for their ability to help community lenders resolve their most-pressing challenges. To learn more, visit http://www.mortgagepath.com.
SOURCE Promontory Fulfillment Services
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