Aklero-NYLX Merger Forms LoanLogics
Combination creates first enterprise loan quality and performance analytics platform.
Fort Washington, PA. (PRWEB) May 06, 2013
Aklero Risk Analytics Inc., a provider of loan quality management software and services via automated data and document validity assurance, and NYLX, a leading provider of mortgage loan pricing, performance analytics and monitoring, have announced that the companies have signed an agreement to merge.
The combined company, LoanLogics, launches as a recognized leader in performance and loan quality analytics. The rapidly growing company has 450 clients and over 20,000 users and offers proven technology, compliance and risk expertise, and strong industry leadership to improve the transparency and reliability of loan assets through life of the loan.
LoanLogics has created the mortgage industry's first Enterprise Loan Quality and Performance Analytics Platform that enables lenders, investors, servicers and counterparties to improve loan quality, validate compliance, improve profitability, and manage risk, during origination, sale and servicing of loan assets.
LoanLogics management team is comprised of senior managers from Aklero and NYLX as well as some new industry recruits. Howard H. Conyack, founder and CEO of NYLX, will serve as chairman and founder of LoanLogics. Brian K. Fitzpatrick, CEO of Aklero, will serve as President and CEO of LoanLogics.
Howard H. Conyack, Chairman of LoanLogics stated, “Both NYLX and Aklero have had a vision to truly address the need for better quality loan data and greater transparency and reliability of loan assets through the life of the loan. Independently we were making progress, but together we will have the talent and technology to achieve this goal more quickly and with greater impact.”
“The merger of Aklero and NYLX enables clients to benefit and gain the advantages of a seamless solution that reduces risk and formally tracks and reports on loan quality and performance metrics at various stages of the life of the loan. LoanLogics' mission is to bring our customers to greater stability and strength through advanced technology and services that support verification, audit and measurement of loan quality,” said Brian K. Fitzpatrick, President and CEO of LoanLogics.
LoanLogics is headquartered in Fort Washington, PA. To learn more, visit http://www.loanlogics.com.
LoanLogics was founded to improve the transparency and accuracy of the mortgage process and improve the quality of loans. LoanLogics serves the needs of residential mortgage lenders, servicers, insurers, and investors that want to improve loan quality, performance and reliability throughout the loan life-cycle. It develops advanced solutions that help clients validate compliance, improve profitability, and manage risk during the manufacture, sale and servicing of loan assets. Achieving these goals was the motivation in the development of the industry's first Enterprise Loan Quality and Performance Analytics Platform.
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