Attributes 291% Percent Revenue Growth to automated, real-time loan quality management technology attracting large, multi-year enterprise contracts
LoanLogics, a recognized technology leader in loan quality management and performance analytics, today announced it ranked No. 250 on Deloitte's Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America based on their revenue growth during the period from 2012 to 2015. LoanLogics grew 291% percent during this period.
LoanLogics's president and chief executive officer, Brian Fitzpatrick, credits a number of large, multi-year enterprise contracts and the ongoing development of product enhancements to pre-closing, post-closing, pre-fund and due diligence audit capabilities, including the LoanHD® investor module for correspondent loan acquisition, with the company's 291% revenue growth. These capabilities help mortgage lenders lower costs, verify compliance and streamline quality oversight of the loan manufacturing process. He said, "Our product roadmap includes enhancements to our cloud-based platform and services that will help to transform the mortgage industry with an unprecedented level of automation, increasing transparency and eliminating material defects in mortgage loan files."
"Today, when every organization can be a tech company, the most effective businesses not only foster the courage to explore change, but also encourage creativity in using and applying existing assets in new ways, as resourcefully as possible," said Sandra Shirai, principal, Deloitte Consulting LLP and U.S. technology, media and telecommunications industry leader. "This ingenious approach to innovation calls for the encouragement of curiosity and collaboration both within and outside the office walls."
"This year's Fast 500 winners showcase that when organizations are open to diverse perspectives and insights, they are able to create an environment for their employees and customers to see the possibilities and ingenious solutions that might lie ahead," added Jim Atwell, national managing partner of the emerging growth company practice, Deloitte & Touche LLP. "Entrepreneurial environments foster change and innovation within businesses, and we look forward to watching these companies continue to drive change across all sectors."
Overall, 2016 Technology Fast 500™ companies achieved revenue growth ranging from 121 percent to 66,661 percent from 2012 to 2015, with median growth of 290 percent.
About Deloitte's 2016 Technology Fast 500™
Deloitte's Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2012 to 2015.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD, and current-year operating revenues of at least $5 million USD. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
As used in this document, "Deloitte" means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
LoanLogics was founded eleven years ago 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 lifecycle. 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. To learn more, visit www.loanlogics.com.