Envoy Mortgage, an independently owned national mortgage lender serving retail originators, is partnering with Cloudvirga, a provider of digital mortgage software, to improve the originator and borrower experiences.
As per a press release, Envoy Mortgage was looking for a solution that would modernize its digital application, help reduce costs, increase transparency, and reduce closing times by half or more. The lender chose Cloudvirga because it met these objectives by providing a world-class experience to both consumers and loan originators with its automated lender workflow.
The new technology partnership reflects a decision by the executive team at Envoy Mortgage to prioritize the implementation of an integrated infrastructure solution to enhance loan originator efficiency, effectiveness, and productivity in an increasingly competitive market.
Cloudvirga says its Digital Mortgage Platform cuts the time it takes to traditionally close a mortgage by streamlining the digital mortgage application process for both loan officers and consumers.
Today, Cloudvirga’s technology powers nearly $200 billion in loans annually and is used by ten of the country’s top 40 mortgage originators, the company says in a release.