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Catalizador Private Equity Fund announces acquisition of MortgageDashboard

NationalMortgageProfessional.com
Feb 17, 2010

Catalizador Private Equity Fund, a team of venture capitalists that includes Jim McMahan, Stewart Hunter and Bryan Harlan of Benchmark Mortgage and other significant Texas-based business partners, has announced the completed acquisition of MortgageDashboard, a leading on-demand loan origination software system enabling paperless mortgage processing for lenders, credit unions and banks. Catalizador took control of MortgageDashboard last fall when the technology firm lost an important line of credit and was on the brink of insolvency. MortgageDashboard was created to be a web based mortgage banking software solution for loan originators by Jorge Sauri almost a decade ago. The LOS was quickly adopted by brokers and net branch operators who were attracted to the affordable, SaaS product. At one point, the company was serving a user base of over 3,000 customers nationwide. When wholesale lending fell out of favor, the company began to shift its focus to mortgage banks, credit unions and community banks, but nearly ran out of time. “We were attracted to MortgageDashboard when a group of private investors with significant mortgage industry backgrounds introduced us to the technology and called it the best completely online, web based loan origination software on the market,” said Jim McMahan, managing partner of Catalizador. “Our fund looks to the future of the housing finance industry and this web based loan software is the way loans will be originated going forward.” Catalizador Private Equity Fund stepped in to recapitalize MortgageDashboard to allow it to continue operations and began the acquisition process. Now that it has been completed, MortgageDashboard has become one of the few mortgage technology firms operating today that has its flagship product in use as a mission critical application at the institution run by its primary investors. Sauri has remained with the company he founded and is now the company’s chief developer and chief information officer, where he continues to provide breakthroughs in innovation and works to simplify the technology required by mortgage brokers and bankers alike. David Childers has been tapped as a primary strategist and the company’s vice president of sales. He is a highly successful business development consultant with over 10 years experience working with mortgage brokers and bankers, assisting them with developing their businesses, creating winning strategies, and executing their visions to become successful organizations. “We’re seeing tremendous adoption in this market for three primary reasons,” Childers said. “First, lenders appreciate the comprehensive audit trails we provide our customers, which allows them to remain in full compliance with all FDIC, GLB and Sarbanes Oxley requirements for data security and borrower privacy. Secondly, we maintain a SAS-70 secured environment monitored and controlled by an independent third party for the industry’s best disaster recovery solution. Finally, our SaaS mortgage banking software puts our customer’s data in a secure online environment that they can access anytime from anywhere. MortgageDashboard is the solution our customers are looking for now.” For more information, visit www.MortgageDashboard.com.
Published
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