Cloudvirga Launches New Wholesale Third Party Origination Platform

Rhea-AI Summary

Cloudvirga, a Stewart-owned company, has launched a new Wholesale Third Party Origination (TPO) Platform designed specifically for mortgage professionals and brokers. This platform enhances the origination process by offering a user-friendly interface, 24/7 access, and real-time updates. Maria Moskver, Cloudvirga President, emphasizes that this offering empowers brokers with technology that simplifies their workflow. The platform aims to improve customer experience while addressing the complexities of loan transactions in the digital mortgage market.

Positive

• New TPO platform enhances the mortgage origination process.
• Empowers brokers with real-time updates and a user-friendly interface.
• 24/7 access provides greater flexibility and efficiency for users.
• Developed in collaboration with industry professionals, tailored to market needs.
• Cloudvirga powers nearly $100 billion in loans annually, indicating strong market position.

Negative

• None.

New product offering saves customers time, money and risk by providing a secure and seamless collaboration portal

HOUSTON--(BUSINESS WIRE)-- Cloudvirga, a Stewart-owned company and fintech leader powering digital mortgages, today announced the launch of its new Wholesale Third Party Origination (TPO) Platform. This product offering was built in collaboration with mortgage professionals and brokers, providing them with a solution custom-built for their needs and operations.

“Our new TPO offering is a game-changer for point-of-sale transactions, especially with brokers,” said Maria Moskver, Cloudvirga President. “Before, brokers were very limited in what they could do in the TPO system. We built this platform because brokers should have options, and the technology they deserve to go along with those options, and our new TPO Platform does just that; it empowers the broker with a technology that speeds up the origination process, making choosing a lender that much easier.”

Acquired by Stewart in May 2021, Cloudvirga delivers intelligent POS platforms for both loan officers and consumers that automate operations traditionally performed in the back office to reduce mortgage origination costs, improve user experience, and increase business insight in the trillion-dollar home loan market. This newest TPO platform is the next evolution of a growing market requiring digital solutions for complex loan transactions that are fast and secure.

Key features of the new TPO offering include: 24/7 borrower access to a broker-branded portal with a full suite of functionality for a seamless borrower experience; allowing brokers to make real-time updates and changes; easier preparation, delivery, and e-signing of lender disclosures with automated compliance; and more e-verifications and borrower collaboration on an updated and easy to navigate user interface.

Moskver added, “Since its inception in 2017, Cloudvirga has focused on creating the best experience with the right tools for both borrowers and Loan Officers, and our TPO Platform is a continuation of this commitment. Our team’s sole focus is mortgage origination, and we will continue to develop and deliver the products and tools our clients and the market are asking for.”

For more information on Cloudvirga’s Wholesale TPO offering, go to cloudvirga.com/lenders/wholesale-tpo-solution.

About Stewart

Stewart (NYSE-STC) is a global real estate services company, offering products and services through our direct operations, network of Stewart Trusted Providers™ and family of companies. From residential and commercial title insurance and closing and settlement services to specialized offerings for the mortgage industry, we offer the comprehensive service, deep expertise and solutions our customers need for any real estate transaction. At Stewart, we are dedicated to becoming the premier title services company and we are committed to doing so by partnering with our customers to create mutual success. Learn more at stewart.com.

About Cloudvirga

Founded by mortgage industry experts in 2017, Cloudvirga, a Stewart-owned company, delivers an intelligent point-of-sale (POS) platform for both Loan Officers and consumers that creates a seamless experience while automating operations traditionally performed in the back office to reduce mortgage origination costs and increase pull through rates within the residential home mortgage space. Cloudvirga’s technology powers nearly $100 billion in loans annually and is used by ten of the country’s top 40 mortgage originators. For more information, visit cloudvirga.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221006005829/en/

John Chattaway, Stewart Media Relations

(713) 625-8180; mediarelations@stewart.com

Source: Stewart Information Services Corporation

FAQ

What is Cloudvirga's new product offering?

Cloudvirga has launched a Wholesale Third Party Origination (TPO) Platform for mortgage professionals.

How does Cloudvirga's TPO Platform benefit brokers?

The TPO Platform provides real-time updates, a user-friendly interface, and 24/7 access, improving the origination process.

When was Cloudvirga acquired by Stewart?

Cloudvirga was acquired by Stewart in May 2021.

What financial impact does the TPO Platform have?

The TPO platform aims to improve user experience and reduce mortgage origination costs, potentially enhancing profitability.

What is Stewart's stock symbol?

Stewart's stock symbol is STC.