LoanLogics, specializing in loan quality management and performance analytics technologies for the mortgage industry, reports that it has received $10 million in funding from Volition Capital and another $1.2 million in funding from existing investors.
‘The infusion of growth capital will help further our national expansion and enhancements to our enterprise loan quality management system, addressing quality from when the loan is priced all the way through its lifecycle to the loan payoff,’ says Brian K. Fitzpatrick, president and CEO of LoanLogics, in a release. ‘The industry is desperate for automation that reduces the costs and increases the benefits of loan quality management. This investment will help us accelerate our growth and broaden our customer base in this important market.’
Fitzpatrick says the company also plans to add new features and capabilities to its platform.
Roger Hurwitz, managing partner of Volition Capital and now a member of the LoanLogics board of directors, adds, ‘LoanLogics has the right vision and management team to provide the much needed innovation needed to better control costs and manage underwriting risk.’
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