TheMReport — News and strategies for the evolving mortgage marketplace.
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6 | TH E M R EP O RT MTECH technology company Cogent Road. According to Chronos Solutions, the acquisition will further expand its suite of products and services that support mortgage lenders and mortgage technology talent. The Cogent Road suite consists of LOS, verification, and credit/data platforms. Chronos Solutions CEO Matt Martin said the acquisition brings more than 300 customers to the company's family, in addition to enhancing its broad suite of origination services. "Cogent Road offers an incredible array of superior origination technology," Martin said. "The combination of these products with Chronos' already formidable suite of origination solutions empowers us to deliver end-to-end service to originators of any size." The announcement noted that Cogent Road develops three core products for the mortgage origination market: • Funding Suite is a premier credit and data-purchasing platform designed for mortgage lenders. It not only provides credit information but also does so in a format that allows lenders to analyze ways to improve a borrower's credit in real time, as well as tracks expenditures at the loan level. • Tax Door is a fully automated tax tran - script solution that allows users to order verified income data via Internal Revenue Service tax transcripts without requiring signed 4506Ts. Tax Door has a 100-per - cent success rate, where the industry is used to one in the 15-percent range. • Roohmz is one of the leading loan origination systems in the industry. "Cogent Road prides itself on delivering flexible, robust technology designed to move the origination industry forward," said William DiPaolohe, Cogent Road CEO. "In collaboration with Chronos' wide variety of services and resources, we can deliver at elite levels virtually any service a mortgage lender might require." In January, Chronos made its first acquisition of RealtyBid.com, an online real estate auction marketplace, which has grown 800 percent since the deal occurred. "We expect to achieve similar levels of growth and success with Cogent Road as well," Martin explained. The Cogent Road deal will mark the firm's second acquisition. The announcement noted that financial terms of the transaction were not disclosed. Martin further stated that Chronos intends to grow the Cogent Road acquisition into a mortgage and real estate technology lab, based in San Diego. "We expect to announce multiple new products and services in the coming year with the help of Cogent Road's talented team," he continued. Safeguard Wins Partnership Award THE OHIO COMPANY SCOOPED UP THE ACCOLADE AT THE AMERICAN ASSOCIATION OF CODE ENFORCEMENT CONFERENCE. S afeguard Properties, the largest mortgage field services company in the United States, received the inaugural public-private partnership award from the American Association of Code Enforcement (AACE) at the AACE's conference in Florida late last year. The public-private partnership award recognized Ohio-based Safeguard Properties for its collaboration and contributions, which include many years of providing education and session presentations. Safeguard's contributions to education include a first-of-its-kind training webinar on the mortgage servicing industry. The company also collaborated with AACE to increase awareness about the industry by producing marketing materials and including leadership at state and national conferences. "Safeguard is honored to be presented with this award," said Michael Halpern, Director of Community Initiatives for Safeguard Properties. "We value our partnership and will continue to work with AACE as a commitment to eliminate blight in neighborhoods across the country." In addition to receiving the AACE's first-ever public-private partnership award, Safeguard offered eight scholarships to attend the AACE conference for the fifth year. "Decreasing municipal budgets impact the feasibility of code officials being able to participate," said Sherri Johnston, Ambassador-at-Large. "The scholarship program has opened the doors to continue education and develop the skill sets needed to serve their communities." The eight scholarship recipients were Keelah Allen-Smith, College Park, Maryland; Nathan Buxton, Jefferson County, Colorado; John Christophe, Austin, Texas; Jamilla Dewitt, DeKalb County, Georgia; Barry Humphries, Hueytown, Alabama; Sadie Norton, Vernal City, Utah; Jeff Posival, Irving, Texas; and Amrinder Singh, Reading, Pennsylvania. Two Brands, One Solution { { We cover the territory. Futura Title & Escrow Corp.'s brands offer a single point of contact for all of your title and escrow transactions. Regionally focused, our footprint consists of 69 convenient branch locations serving 58 counties throughout Idaho and Oregon, and parts of Montana, Washington and Wyoming. While we are one of the largest title and escrow groups in the Northwest, you'll find that our local emphasis is reflected in our market expertise. Committed to maintaining compliance with the American Land Title Association's (ALTA) Title Insurance and Settlement Company Best Practices, our brands are distinguished as the trusted settlement service providers in the region. When your transactions cover more than one county, Futura Title & Escrow Corp. is your regional title and escrow solution. orders@futuratitle.com www.alliancetitle.com www.amerititle.com www.futuratitle.com Jenny Martin Senior VP & Corporate Business Development Director 208.955.9681 office 208.891.0481 cell jenny.martin@futuratitle.com