Accenture Acquires BeesPath’s ClosingBridge Platform, Extending Mortgage Cadence’s Loan-Origination Functionality to Conn...
April 12 2017 - 11:59AM
Business Wire
Accenture (NYSE:ACN) has extended the capabilities of its
Mortgage Cadence subsidiary with the acquisition of BeesPath Inc.’s
ClosingBridge platform, which facilitates simple, secure
communications and file exchange for real estate finance
transactions.
The ClosingBridge platform will be provided under the Mortgage
Cadence product suite and will be branded as Collaboration Center.
In its first phase, the platform – which manages the communications
between borrowers, co-borrowers, real estate agents, sellers,
attorneys, lending staff, title agents and settlement agents on
mortgage transactions – will be offered as a standalone product. In
subsequent releases, Collaboration Center will be incorporated into
Mortgage Cadence’s existing product portfolio.
Todd Hougaard, president of BeesPath, will be joining the
Mortgage Cadence team to help speed the integration and rollout of
the solution and to spearhead product advancement going
forward.
“Taking an innovative approach to a long-standing challenge in
mortgage – unsecure communications involving borrower data and
information – BeesPath has created an elegant, all-digital solution
that securely connects all parties involved in the closing
process,” said Michael Detwiler, Mortgage Cadence’s chief executive
officer. “ClosingBridge is another strategic addition to our
forward-looking Mortgage Cadence platform.”
Founded in 2004, BeesPath provides web-based tools designed to
bring all the people, workflow and information related to a loan
transaction into one secure place, facilitating the efficient
closing of loans by enabling easy communication, delivery, sharing
and tracking of all loan details. BeesPath developed and released
the ClosingBridge platform in 2015 to facilitate simple, secure
communications and data exchange for real estate finance
transactions.
“We are proud to welcome Todd and the Collaboration Center
technology to the Mortgage Cadence product suite with
near-immediate client availability,” said Trevor Gauthier, Mortgage
Cadence’s president and chief operating officer. “Thanks to this
exciting acquisition, our lenders will be able to provide their
borrowers with the peace of mind that all collaboration regarding
their transaction is being handled swiftly and securely for better
compliance, efficiency and structured communication between all
parties. In addition to accelerating our digital strategy, this
asset acquisition puts more functionality into our clients’ hands
sooner, enabling them to close loans more quickly while having the
assurance that the loan communications are secure.”
Since the TILA-RESPA Integrated Disclosure (TRID) Rule took
effect in October 2015, the added time needed to ensure the
borrower has its closing disclosures within three business days of
closing has created new pressure for lenders, title agents, and
settlement agents. The acquisition of BeesPath’s ClosingBridge
platform brings an immediate solution to the Mortgage Cadence
product suite to help address the need for these parties to
securely communicate, share documents and transfer data.
“Collaboration Center is highly complementary with Mortgage
Cadence’s successful loan origination technology suite, and
Mortgage Cadence is the company best positioned to get this into
the hands of lenders and title agents, who will benefit
tremendously from this solution,” Hougaard said. “I’m thrilled to
be a part of this talented team and help drive this user-friendly
and secure solution forward.”
About Mortgage Cadence
Mortgage Cadence, an Accenture company, has been working with
lenders since 1999, offering a one-stop shop mortgage technology
solution designed for point-of-sale through post-closing. In a time
when efficiency, speed and the customer experience are paramount to
the success of lenders, Mortgage Cadence offers reliable software
and dedicated people, supporting lenders every step of the way.
Visit www.mortgagecadence.com for more information.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170412005003/en/
Mortgage Cadence, an Accenture CompanySarah Volling, +
1-303-906-4136sarah.a.volling@mortgagecadence.com
Accenture (NYSE:ACN)
Historical Stock Chart
From Aug 2024 to Sep 2024
Accenture (NYSE:ACN)
Historical Stock Chart
From Sep 2023 to Sep 2024