Blue Sage Solutions, LLC, developers of the Blue Sage Digital Lending Platform, a browser-based, end-to-end mortgage lending system, announced that it has closed a financing round from Goldman Sachs Growth Equity, which focuses exclusively on investments in growth-stage and technology-driven companies. The investment is Blue Sage’s first external round of funding since the company was founded by Carmine Cacciavillani, President and CEO.
Blue Sage has been on a rapid growth trajectory, doubling revenues in 2020 from the previous year. The company’s customers include independent mortgage bankers, credit unions, and leading banks. “We created the Digital Lending Platform to provide lenders the most modern and comprehensive solution in the market, allowing them to more efficiently close and fund thousands of loans while reducing compliance risk. We provide the only multi-channel platform in the marketplace with a combined point-of-sale and loan origination system. We developed it from the ground up in the last five years,” Cacciavillani said.
“With Goldman Sachs as an investor, we continue to strengthen our balance sheet while gaining access to Goldman’s incredible resources, industry relationships, and expertise in helping companies like ours to accelerate growth and scale to meet the needs of our customers and prospects,” Cacciavillani said.
Blue Sage will use the capital to continue investing in growth initiatives, including developing additional features that will further strengthen its Digital Lending Platform. “Goldman Sachs also brings a deep understanding of technology and operational expertise to assist in scaling our business,” Cacciavillani said. “Goldman Sachs’ expertise will contribute to executing our vision.”
Antoine Munfa, Managing Director of Goldman Sachs Growth Equity, said, “We are very excited about our investment in Blue Sage Solutions. Blue Sage has a demonstrated track record of innovation and success. We have been extremely impressed by the team’s depth of industry knowledge and the breadth of functionality and scalability of Blue Sage’s Digital Lending Platform.”
Ashwin Gupta, Managing Director of Goldman Sachs Growth Equity, added, “Lenders are increasingly demanding modern software that is easy to use and which increases productivity. Blue Sage does that and more. The company is poised for accelerated growth while already having achieved significant profitability.”
a360inc, a technology and outsourcing services provider in the real estate industry, announced the formation of a strategic partnership with longtime consultant firm Lyons McCloskey to provide a new claims management solution. This partnership joins a360inc's technology with Lyons McCloskey's specialized consulting to create a first-of-its-kind holistic and compliance-focused solution for the mortgage servicing industry.
"The claims processing arena remains one of the more high-risk areas of concern for our mortgage servicing clients. While our CMAX technology platform leads the market in assisting with compliant claims production, we feel processing support and qualitative oversight are important enhancements to our offerings," said a360inc CEO Scott Brinkley. "This new partnership with Lyons McCloskey provides our clients with the enhanced options of audit loss analysis reporting and HUD audit support."
"We are excited to pair our specialized skill set with a360inc's technology and outsourcing services, allowing our clients to better navigate and respond to the rapidly changing servicing environment,” said Lyons McCloskey Managing Partner Bob Lyons, “combining a360inc’s state-of-the-art technology with our unparalleled analytics enables clients to avoid common losses and maximize claim benefits at the lowest possible cost. Furthermore, the additional financial benefits achieved through this offering exponentially exceed the cost of the products and services.”
This holistic solution leverages a360inc technology and outsourcing capabilities for the processing of mortgage insurance claims and pairs it with Lyons McCloskey's loss analysis analytics and audit support solutions, offering the marketplace an innovative compliance and quality-focused claims management solution. Joining the unique capabilities of both organizations improves overall recovery opportunities for mortgage servicers while mitigating risks.
Top of Mind Networks (Top of Mind), a provider of customer relationship management (CRM) and marketing automation software for the mortgage lending industry, announced its integration with digital lending platform Blend.
The integration leverages bi-directional data syncing between Surefire CRM and Blend’s point of sale (POS) platform, enabling the systems to automatically prefill loan applications with borrower contact information and execute automated workflows tailored to where clients are in the loan journey. When combined, the technologies automate Surefire CRM’s workflows and content to loan applicants, resulting in improved loan application completion rates and borrower satisfaction.
“Data indicates that only 63% of mortgage loan applications started are fully completed,” said Top of Mind EVP of Sales Nick Belenky. “A premium lending POS like Blend can increase that number, and when paired with Surefire CRM, elevate it substantially. From the moment a borrower begins a loan application, Surefire CRM helps usher them on their journey to homeownership.”
Surefire CRM syncs its contact information with Blend so prospects receive an intelligently prefilled loan application. The integration helps loan teams keep applications on track with minimal effort through automated borrower outreach tailored to each application stage and notifications that suggest loan team intervention when an application has stalled.
“The benefits of Blend’s digital lending platform, which improves borrower satisfaction and expedites origination times by streamlining the lending experience, are amplified when paired with Top of Mind’s Surefire CRM,” said Blend Enterprise Account Executive Van Vaziri. “Prefilling loan applications with known borrower information has been shown to bolster lenders’ Net Promoter Score (NPS). Combined with in-process automation that facilitates application completion, Blend’s partnership with Top of Mind positions lenders to deliver a white-glove experience.”