{"id":43939,"date":"2019-01-24T16:55:00","date_gmt":"2019-01-24T21:55:00","guid":{"rendered":"https:\/\/www.send2press.com\/wire\/?p=43939"},"modified":"2019-01-24T16:55:00","modified_gmt":"2019-01-24T21:55:00","slug":"digital-mortgage-provider-cloudvirga-closes-2018-with-customers-producing-nearly-200b-in-loan-volume-secures-50m-in-capital","status":"publish","type":"post","link":"https:\/\/www.send2press.com\/wire\/digital-mortgage-provider-cloudvirga-closes-2018-with-customers-producing-nearly-200b-in-loan-volume-secures-50m-in-capital\/","title":{"rendered":"Digital mortgage provider Cloudvirga closes 2018 with customers producing nearly $200B in loan volume, secures $50m in capital"},"content":{"rendered":"

IRVINE, Calif.,\u00a0Jan. 24, 2019\u00a0(SEND2PRESS NEWSWIRE) —\u00a0Cloudvirga<\/a>™, a leading provider of digital mortgage software, closed the books on 2018 with a 54 percent year-over-year increase in mortgage loan volume processed through its intelligent Mortgage Platform™. The strong 2018 results topped a long list of achievements.<\/p>\n

\"Cloudvirga\"
\n\u201cOur continued rapid growth amidst a challenging mortgage climate is a testament to how urgently the industry needs a solution like Cloudvirga that truly drives down the cost of origination,\u201d said CEO Michael Schreck. \u201cWe\u2019re proud to have welcomed more of the nation\u2019s top lenders while simultaneously introducing never-before-seen digital mortgage capabilities and a mobile-first platform.\u201d<\/p>\n

Cloudvirga\u2019s POS products, already the most robust in the market, advanced significantly in 2018 with the addition of features designed to improve lender speed, compliance and productivity. In March, Cloudvirga announced major advances to its Enterprise POS and launched a new Mobile POS<\/a>. A month later, the company introduced the industry\u2019s first single-click submission of loan data to both GSEs\u2019<\/a> automated underwriting systems. Cloudvirga will continue to evolve its product suite with support from a $50M Series C<\/a> that brings its total funding raised to $77M.<\/p>\n

Cloudvirga\u2019s customer base produces nearly $200 billion in loans annually and represents eight of the country\u2019s top 20 mortgage originators. Over the course of the year, Cloudvirga announced deployments with\u00a0American Financial Network<\/a>,\u00a0Fairway Independent Mortgage Corporation<\/a>,\u00a0Finance of America Mortgage<\/a> and Thrive Mortgage<\/a>, among others. The Cloudvirga product suite continues to lead the industry and service both bank and non-bank lenders.<\/p>\n

Cloudvirga continues to establish itself as an employer of choice in Orange County, California, with expanded benefits and a planned new corporate office in University of California, Irvine\u2019s Research Park.<\/p>\n

Notable additions to the Cloudvirga team in the last 12 months include:<\/strong><\/p>\n