LoanLogics Announces Changes at the Top
LoanLogics, a recognized leader in loan quality technology for mortgage manufacturing and loan acquisition, today announced several executive leadership changes, including the departure of CEO Bill Neville, who hands over the reins to new CEO Dave Parker.
After an already stellar career in the mortgage industry, Neville joined the LoanLogics board of directors in 2017 before being appointed president and COO in 2018 and CEO in 2019. While at the company’s helm, Neville reshaped the company’s leadership team and piloted the company through its acquisition by an affiliate of Sun Capital Partners in 2021 and its own acquisition later that year of LoanBeam, a provider of income calculation and analysis technology endorsed by government-sponsored entities (GSEs) Fannie Mae and Freddie Mac.
Neville played an instrumental role in LoanLogics being selected as the technology provider behind Freddie Mac's FAST® (Freddie Automated Servicing Transfer), which streamlines servicing file transfers for Freddie Mac’s Cash-Released Xchange®. He also helped form the company’s partnership with Finastra, which recently highlighted its use of LoanLogics’ automated document processing capabilities at the 2022 National Mortgage News Digital Mortgage Conference.
Prior to joining LoanLogics, Neville served as president of North America for Finastra and served as president of U.S. business to Finastra's predecessor company, D+H, where he played an important role in the company's acquisition of Mortgagebot, Avista Solutions and Harland Financial.
“While serving as CEO of LoanLogics has been the opportunity of a lifetime, I know I’m leaving the company in very capable hands, ” Neville said. “Dave Parker understands the business side of mortgage lending and has brought to market new solutions that cut to the core of what the mortgage industry needs. I look forward to watching Dave and his leadership team help lenders and servicers ride out the current market storm through new technology innovation and automation.”
Parker joined LoanLogics in 2019 as senior vice president of product management and most recently served as executive vice president, product. As CEO, he plans to ramp up the company’s efforts on automation and new technologies that will enable lenders and servicers to address rising levels of costs and excel despite the current downturn in mortgage originations.
Parker is a well-recognized leader in mortgage technology with more than 30 years of experience leading startup, growth stage and established companies. A 2019 HousingWire Vanguard Award winner, he has held senior leadership positions at Fiserv, CoreLogic, and Wells Fargo Home Mortgage.
“Bill’s leadership through one of the most dynamic eras in our company’s history has been remarkable, ” Parker said. “From steering the company through tremendous growth that resulted in our acquisition by an affiliate of Sun Capital, and by expanding our capabilities in origination automation through our acquisition of LoanBeam, Bill has set the tone for our leadership team and positioned LoanLogics at the vanguard of mortgage fintech innovation.”
“Bill has also left LoanLogics in peak operational shape to weather the current industry conditions and thrive beyond them,” Parker added. “We are grateful for his enormous contributions and bid him the fondest of farewells.”
In other executive leadership team changes, Paul Vancheri, the company’s former executive vice president of technology and operations, has been named president and COO. Recruited to LoanLogics by Neville in 2019, Vancheri has significant, senior experience in the IT discipline, software engineering and development, and a deep understanding of the value of integrations that underpin client optimization of technology. He has prioritized the development of application programming interfaces (APIs) for LoanLogics products, such as LoanLogics IDEA® OnDemand, a cloud-native digital assistant that helps originators reduce costs by automating the processing of loan documents on an as-needed basis. Vancheri also has far reaching experience in the BPO, offshoring and in general business operations that are required to make a company run effectively.
“Our leadership team represents the perfect blend of expertise in mortgage operations and groundbreaking technology innovation,” Parker said. “We know data is useless if lenders and servicers can't get it right. With our technical capabilities and intellectual property that place data, doc processing and rules automation at our core, we’ll be able to continue lowering costs for our clients across origination and secondary market processes. Our goal is to help lenders and servicers thrive by staying true to our corporate mantra, ‘change your logic—automate first,’ which is more relevant now than ever before.”
About LoanLogics Founded in 2005, LoanLogics is a provider of mortgage audit software, income calculation and analysis technology, and document processing automation. This data-driven digital technology improves the transparency and accuracy of the mortgage process and improves the quality of loans. The company’s capabilities and audit services help residential mortgage lenders, servicers, insurers and investors validate compliance, improve profitability and manage risk during the manufacture, sale and servicing of loan assets. LoanLogics leverages the latest methodologies in cloud computing and machine learning technology to deliver greater value for our clients. To learn more, visit www.loanlogics.com.
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MikeMurray@StrategicVantage.com
