Strategic Relationship Set to Optimize
Wholesale Efficiency and Deliver New Broker Tools
IRVINE,
Calif., Nov. 2, 2023 /PRNewswire/ -- Cloudvirga, a
leading provider of digital mortgage point-of-sale platforms,
announced today that Luminate Home Loans, headquartered in
Minneapolis, Minnesota, has
selected the Cloudvirga Horizon Wholesale platform to optimize
efficiency within its wholesale mortgage division.
By implementing the Horizon Wholesale platform, Luminate will be
able to streamline its third-party origination process. Brokers
will have greater visibility and control within the loan approval
process, and the platform will enable them to order critical
services such as credit, verification services, fee services,
pricing and mortgage insurance as well as submit the loan to
underwriting. They will also be able to quickly create loan
scenarios, generate compliant disclosures for consumers
to eSign and collaborate directly with Luminate through the
application process. Finally, Luminate brokers will have a
real-time view into their individual pipelines to monitor the
status of each of their loans and quickly respond to open requests.
"For the foreseeable future, purchase mortgages are expected to
make up the lion's share of overall originations and, in this
environment, brokers will play a critical role in not
only sourcing customers but also advising them through the
origination process," said Cloudvirga Chief Executive Officer
Maria Moskver. "Forward-looking
lenders like Luminate are investing in the technology and tools to
help them grow their third-party originations by taking time,
friction and cost out of the process."
"Our collaboration with Cloudvirga signifies a shared commitment
to transforming the wholesale lending experience," said
Chris Lavigne, VP of Mortgage
Technology at Luminate Home Loans. "By building upon the current
capabilities of the Horizon Wholesale platform, we're redefining
how to work with brokers and giving them advanced tools to improve
both their loan pull-through and the customer experience they are
delivering."
In addition to working with Cloudvirga, a subsidiary of Stewart
Information Services Corporation, Luminate has a strong
relationship with another member of the Stewart family of
companies: Informative Research. Informative Research is a leading
provider of comprehensive consumer data, including credit reports,
verifications, fraud reports, and other essential
data. The Luminate Home Loans partnership with Cloudvirga builds
upon the trust and collaboration already established between
Luminate and the Stewart family of companies.
About Luminate Home Loans
Luminate Home Loans, Inc. headquartered in Minneapolis, Minnesota, is a nationally
recognized mortgage company with a rich legacy dating back to 1998.
With a commitment to transparency, innovation, and client-focused
services, Luminate has rapidly risen to prominence, earning a place
among the top 50 mortgage lenders in the nation. Co-founded by
Taryn Reuter and Eric Lovins, Luminate's dedication to excellence
remains unwavering.
In 2022, Luminate Bank was established, expanding the
company's offerings to provide a broad spectrum of lending tools
and financial products. Together, Luminate Home Loans and Luminate
Bank have created a platform that harnesses innovation and
technology, revolutionizing the banking landscape for individuals
and families nationwide.
About Cloudvirga
Cloudvirga is a leading provider of digital mortgage
point-of-sale platforms. With a focus on streamlining the loan
origination process, Cloudvirga solutions are designed to enhance
efficiency and accuracy in the mortgage industry. The company's
commitment to continuous improvement and innovation has positioned
it as a trusted partner for mortgage lenders and brokers across the
nation. Cloudvirga is a subsidiary of Stewart Information Services
Corporation (NYSE:STC), a customer-focused, global title insurance
and real estate services company.
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SOURCE Cloudvirga