Mortgage Cadence, the developer of a lending platform aimed at credit unions and independent mortgage banks, is set to be acquired by a new parent company, PartnerOne.
Currently an Accenture company, Denver-based Mortgage Cadence offers a customizable end-to-end loan origination system (LOS) that can be tailored for consumer direct, wholesale, correspondent and distributed retail mortgage lenders.
Riverside, California-based PartnerOne, an enterprise software group whose subsidiaries serve 80 percent of the world’s largest companies, announced an agreement with Accenture on Tuesday to acquire Mortgage Cadence on terms that were not disclosed.
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“We believe in building enduring software companies that prioritize people and customers,” PartnerOne Vice President Suzanne Fortman said in a statement. “Mortgage Cadence exemplifies this ethos, and we’re excited to invest in its future, expand its employees’ skillsets, and accelerate innovation in mortgage technology.”
Mortgage Cadence says a cloud-based version of its fifth-generation Mortgage Cadence Platform, MCP Essentials, can be pre-configured for implementation by credit unions in “weeks, not months.”
Mortgage Cadence’s credit union clients include Verve, Financial Partners, Beginnings (formerly Cornell Federal Credit Union), DFCU (formerly Dearborn Federal) and Purdue Federal Credit Union.
Pedro García
Mortgage Cadence CEO Pedro García said being acquired by PartnerOne will help the company to “evolve our platform, deepen our customer relationships, and continue delivering exceptional solutions across the mortgage lifecycle.”
PartnerOne’s recent acquisitions include Monster Government Solutions (announced in August), XYPRO Technology Corp. (May) and NetWitness (March). In 2023, PartnerOne acquired Stromasys SA, a provider of hardware virtualization that helps companies move critical legacy systems to the cloud.
PartnerOne says its subsidiaries serve more than 1,500 clients, including the top 10 U.S. banks and top five credit card companies and U.S. airlines.
“PartnerOne plays a mission-critical role in not just one, but many aspects of the enterprise BigData cycle,” the company says of its data virtualization, transfer, automation, tracking and management solutions.
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