Earlier this month, Mortgage Cadence acquired BeesPath Inc.’s ClosingBridge platform, now branded as Collaboration Center.
Currently the platform will be offered as a standalone product, but in the future will be fully incorporate into Mortgage Cadence’s platform. ClosingBridge manages communications between borrowers, co-borrowers, real estate agents, sellers, attorneys, lending staff, title agents, and settlement agents on mortgage transactions.
“Taking an innovative approach to a long-standing challenge in mortgage—unsecure communications involving borrower data and information—BeesPath has created an elegant, all-digital solution that securely connects all parties involved in the closing process,” said Michael Detwiler, Mortgage Cadence’s CEO “ClosingBridge is another strategic addition to our forward-looking Mortgage Cadence platform.”
Tom Hougaard, president of BreesPath, will be joining Mortgage Cadence to oversee the rollout.
“We are proud to welcome Todd and the Collaboration Center technology to the Mortgage Cadence product suite with near-immediate client availability,” said Trevor Gauthier, Mortgage Cadence’s President and COO. “Thanks to this exciting acquisition, our lenders will be able to provide their borrowers with the peace of mind that all collaboration regarding their transaction is being handled swiftly and securely for better compliance, efficiency and structured communication between all parties. In addition to accelerating our digital strategy, this asset acquisition puts more functionality into our clients’ hands sooner, enabling them to close loans more quickly while having the assurance that the loan communications are secure.”
Mortgage Cadence is headquartered in Denver Colorado and is a subsidiary of Accenture. The company says they are excited to offer this new tool to help homeowners help streamline the closing process—especially in regards to the TILA-RESPA Integrated Disclosure rule.