Location: Trevose, PA
Brian K. Fitzpatrick
President and CEO
LoanLogics uses technology to validate, verify and provide transparency into mortgage loan data and documentation to ensure the mortgage crisis of recent years never happens again. “Our technology impacts the quality of loans before they’re sold into the secondary market so that consumers don’t get hurt, lenders don’t get hurt and the loans meet all the regulatory and government requirements, as well as all the investor requirements relative to loan quality and compliance,” says Brian K. Fitzpatrick, president and CEO of LoanLogics.
WORDS OF WISDOM: “We embrace the amount of change and regulation that has affected the mortgage industry and we want to educate lenders that the game has absolutely changed.”
Due to the number of factors involved, the mortgage origination process is very prone to errors. “This challenge became the impetus of LoanLogics and the technology we would create,” says Fitzpatrick. LoanLogics uses technology, rules and predictive analytics to replace the need for having many different people compare processes to assess loan quality. “Instead of having 300 people in a shop to do an activity, you can use significantly less than that … to do all the work,” says Fitzpatrick.