"PartnerOne's acquisition of Mortgage Cadence is designed to provide additional capital and operational resources, particularly to accelerate product development in artificial intelligence and workflow automation."
"Suzanne Fortman stated that welcoming Mortgage Cadence into the PartnerOne family marks a pivotal moment, emphasizing the commitment to empower the talented team and support their innovation."
"The acquisition comes at a time when lenders are reassessing their loan origination strategies due to a prolonged volume downturn and significant consolidation in mortgage technology."
Mortgage Cadence will operate under PartnerOne, which aims to acquire and hold software companies for long-term growth. The acquisition provides Mortgage Cadence with additional capital and resources to enhance product development, particularly in artificial intelligence and workflow automation. PartnerOne emphasizes stability for existing customers during the transition and plans to support Mortgage Cadence's innovation. The acquisition occurs amid a challenging market for lenders, prompting a reevaluation of loan origination strategies and technology investments.
Read at www.housingwire.com
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