Aklero, NYLX Merge to Form LoanLogics

Aklero Risk Analytics Inc. and NYLX have merged to form ""LoanLogics"":http://www.loanlogics.com/, according to a release from the new company.

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LoanLogics combines Aklero's expertise as a provider of loan quality management software and NYLX's experience as a leading provider of mortgage loan pricing, performance analytics, and monitoring. The merged company has 450 clients and more than 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 the life of the loan.

The LoanLogics management team is made up of senior managers from Aklero and NYLX as well as a few new industry recruits. Howard H. Conyack, founder and CEO of NYLX, serves as chairman and founder, while Aklero CEO Brian K. Fitzpatrick is president and CEO.

""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,"" Conyack said. ""Independently we were making progress, but together we will have the talent and technology to achieve this goal more quickly and with greater impact.""

As its first major announcement, 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 the origination, sale, and servicing of loan assets.

""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,"" Fitzpatrick said. ""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.""

LoanLogics is headquartered in Fort Washington, Pennsylvania.