Tag Archives: Technologies

Overture Technologies Closes $6 Million Series C Funding Led by Capital Trust Ventures

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Bethesda, MD (PRWEB) December 19, 2008

Overture Technologies, the leading provider of decisioning software solutions that enable transparent, accurate and responsive lending processes, announced it has closed $ 6 million in Series C funding led by Capital Trust Ventures with continuing participation from CNF Investments, New Markets Growth Fund and other existing investors. Financing will be used to support market expansion to meet urgent and increasing demand for the company’s financial decisioning solutions serving the mortgage and education lending industries. In conjunction with the funding, Tim Meyers, Managing Partner at Capital Trust Ventures, has joined Overture’s board of directors.

“Today’s mortgage and student loan industries require consistent application of complex lending and pricing guidelines and thorough evaluation of ever-changing risk and asset valuation data to meet current and future regulatory requirements,” said Bill Kelvie, CEO, Overture Technologies. “This growth funding from experienced investors during a challenging time further validates our approach and will help us accelerate our reach for the markets we serve.”

Overture enables market efficiency and improves risk management in underwriting, pricing, servicing and valuing mortgage loans and assets with its Mozart suite of solutions, industry-leading automated decisioning software for originations and acquisitions, servicing, secondary marketing and the capital markets. In addition to Overture’s advanced FHA lending decisioning capabilities, its groundbreaking solution uses rules-driven decisioning for loan modifications to keep borrowers in their homes.
Overture’s education finance solutions empower colleges and universities, lenders, guarantors and other service providers to help students intelligently navigate the process of funding their education with Conductor, the leading online financial aid portal, the Student Loan Marketplace loan comparison tool and Amadeus, the premier student loan pricing and underwriting solution.
“Overture is providing business rules management systems for lending processes that can restore confidence in the credit markets and prevent the current crises in mortgage and education lending from happening again,” said Tim Meyers, Managing Partner, Capital Trust Ventures. “We’re pleased to invest in a company led by industry veterans and technology thought leaders who are enabling greater accuracy, transparency and efficiency for this significant and essential segment of the financial services sector.”

About Capital Trust Ventures:

Capital Trust Ventures provides growth-stage venture capital financing for information technology companies. We work closely to form a strong partnership with proven entrepreneurial leaders with the vision and spirit to build market-leading companies, help them to achieve scale and exit successfully. Our team of partners has extensive investing and entrepreneurial experience in multiple sectors including application software, emerging technologies, vertical software, new media, internet content, e-commerce and infrastructure software. Capital Trust Ventures is a member of the Capital Trust Group, a leading private equity and advisory firm. For additional information, visit http://www.capitaltrustventures.com.

About Overture Technologies:

Founded in 2000, Overture Technologies is the leading provider of decisioning software solutions that enable transparent, accurate and responsive lending processes for the mortgage and higher education lending industries. Overture’s customers are dedicated to providing superior mortgage underwriting, servicing and securitization services and to increasing students’ access to higher education financing alternatives. Overture’s leadership team applies decades of experience from leading financial services and technology firms including Fannie Mae, Freddie Mac, Goldman Sachs, IBM and KPMG to help our customers achieve their goals. For further information, call (301) 492-2155 or visit http://www.overturecorp.com.

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Simplifile and Rekon Technologies Enter into Strategic Integration Partnership

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Provo, Utah (PRWEB) January 12, 2009

Simplifile, the leader in e-recording, and Rekon Technologies, a leading software vendor in the mortgage loan servicing industry, today announce that they have entered into a strategic partnership to integrate Rekon’s lien release and assignment processing system into the Simplifile e-recording system.

The newly formed partnership will allow users of the Rekon processing system to instantly and securely send documents to the Simplifile e-recording system. The solution will automatically upload recordable documents into the customer’s Simplifile account and create a new e-recording package. This tight integration allows Rekon users to quickly and easily prepare documents and electronically record them with Simplifile’s enabled counties throughout the United States from the convenience of their own office.

“Rekon is known for its advanced method of lien release and assignment document preparation,” said Aurora Marsh, CEO of Rekon Technologies. “By integrating Rekon into the Simplifile e-recording system, the combined solution fuels the current industry trend toward paperless solutions. Our strategic partnership with Simplifile provides our clients with an opportunity to build state-of-the-art networks that will give them the edge in delivering excellent customer service, resulting in increased customer satisfaction.”

“Simplifile is pleased to work with Rekon to bring the benefits of industry leading lien release and assignment processing with the Simplifile e-recording system,” said Erik Blomquist, Simplifile Vice President of Technology. “Rekon is a leader in the mortgage loan servicing industry. With the integration of Rekon into the Simplifile e-recording system, our mutual clients will benefit from the integrated systems to more efficiently prepare and record documents, and virtually eliminate the need for paper documents.”

About Simplifile

Simplifile provides innovative, simple, and secure electronic recording services via the Internet. Simplifile’s customers include title companies, banks, attorneys, lien filers, and county and state government jurisdictions. Simplifile electronic recording services accelerate document recording and simplifies document workflow processes that reduces costly overhead associated with traditional submission and recordation methods while improving client service levels.

Simplifile is focused on building the industry’s de facto electronic recording network. As such, Simplifile provides a streamlined and scalable approach to electronic recording tailored to organizations of all shapes and sizes. For more information on how Simplifile can benefit your organization, visit http://www.simplifile.com or call 801.373.0151.

About Rekon Technologies

Rekon Technologies offers technology solutions to the loan servicing industry, providing tools to track, manage, prepare and record loan documents such as lien releases, assignments, UCC terminations, trailing documents and others.

Rekon Technologies’ flagship product and namesake “Rekon” is a fully sustainable workflow driven document preparation and management system, integrated with imaging and eRecording solutions to process loans from payoff to recording in a truly automated and paperless environment from anywhere in the world. Meanwhile, the DokTrak software is considered to be the most versatile document tracking and data warehousing technology solution, especially in resolving the gap between origination and servicing, including the processes of post closing and file certification for securitization. More information about Rekon Technologies and its products is available by visiting http://www.rekon.com or calling 626-577-4350.

“Simplifile” is a registered service mark of Simplifile, LC.

Rekon is a registered trademark of Rekon Technologies, Inc., a California corporation.

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Overture Technologies Adds J. Barry Morrow to Board of Directors

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Chevy Chase, MD (PRWEB) April 7, 2009

Bethesda, Maryland — Overture Technologies, the leading provider of decisioning software solutions that enable transparent, accurate and responsive lending processes for the mortgage and education finance industries, has announced the election of J. Barry Morrow to its Board of Directors.

“Barry brings tremendous experience in guiding companies through active stages of growth and a deep understanding of the perspectives of both lenders and schools in serving the higher education market,” said Bill Kelvie, CEO of Overture Technologies. “We’re pleased to attract such a well-respected industry leader to our Board.”

Morrow, an education finance industry veteran with 30 years of experience in business development, operations and technology, was president and CEO of Collegiate Funding Services, a leading student loan servicing company, until its acquisition by JP Morgan Chase Bank in 2006. Previously, Morrow was general manager of financial services for the U.S. Department of Education’s Office of Student Financial Assistance. Earlier, Morrow was vice president of regional operations with Sallie Mae, where he spent 17 years in various senior operating executive positions. He holds an M.A. in public administration from George Washington University and a B.A. from Virginia Tech.

“Overture’s solutions help schools to expand the way they engage students on the process of financing their education and enable lenders to serve students in a more transparent and efficient way,” said Barry Morrow, board director at Overture Technologies. “Overture’s enabling, web-based technologies could not come at a more critical time for students facing increasing tuition costs and challenging credit markets. I am excited to serve on the Board of this dynamic and innovative company.”

About Overture Technologies

Founded in 2000, Overture Technologies is the leading provider of decisioning software solutions that enable transparent, accurate and responsive lending processes for the mortgage and education finance industries. Overture’s customers are dedicated to providing superior mortgage underwriting, servicing and securitization services and to increasing students’ access to higher education financing alternatives. Our leadership team applies decades of experience from leading financial services and technology firms including Fannie Mae, Freddie Mac, Goldman Sachs, IBM, KPMG and Sallie Mae to help our customers achieve their goals. For further information, call (301) 492-2140 or visit http://www.overturecorp.com.

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Overture Technologies and the Association of Independent California Colleges and Universities (AICCU) Announce Marketing Partnership for Student Loan Marketplace

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Bethesda, Maryland, and Sacramento, California (PRWEB) April 16, 2009

The Association of Independent California Colleges and Universities (AICCU), representing California’s 75 non-profit accredited colleges and universities with more than 289,000 students, and Overture Technologies, the leading provider of decisioning software solutions that enable transparent, accurate and responsive lending processes, announced today a marketing partnership to create the California Student Loan Marketplace. The California Student Loan Marketplace will be an online education financing resource that connects students and their families with lenders to encourage smart borrowing practices and compare reliable private student loan terms. Prager, Sealy, & Co., LLC, a leading higher education investment banking firm, will serve as the program manager for AICCU.

“It is more important than ever for families to have clear, accurate, and easy-to-understand information about alternatives for financing college costs,” said Jonathan Brown, AICCU president. “The California Student Loan Marketplace will help provide students with affordable higher education at top institutions.”

The California Student Loan Marketplace will allow schools to provide students and their families with access to unbiased information on financing higher education. The Marketplace will offer students, families, counselors, and institutions the following:

*Reliable loan terms from multiple lenders: The Marketplace will provide what students need – the ability to compare and select reliable financing options – not “as low as” advertisements – with a complete listing of reliable loan terms.

*Preservation of borrower credit scores and privacy: The Marketplace will provide a more efficient, safer loan shopping experience for students by pulling a single credit report to match borrower information with multiple lenders’ student loan products and allowing borrowers to choose which lender receives their information.

*Smart borrowing practices: The Marketplace will provide information on how to borrow wisely, including exhausting federal loan options before turning to private loans, and using a co-signer to achieve the best rates and fees.

*Guiding students to make informed decisions: The Marketplace can be configured with school-specific information about policies, deadlines, academic programs, and grade-levels to assure that students receive custom-tailored loan options.

*Enhanced transparency: The Marketplace will be an open network of lenders that allows schools to provide students with meaningful guidance in a safe and trustworthy environment.

“Overture is pleased to work with AICCU, a trusted group that is dedicated to connecting students with lenders for smarter financing of their education at private, non-profit colleges in California,” said Peter Carroll, Overture Technologies’ vice president, product marketing.

About AICCU

Since 1955, the Association of Independent California Colleges and Universities is the voice of California’s private, non-profit, WASC accredited colleges and universities for state and federal issues. AICCU schools enroll over 280,000 students annually. Founded in 1955, AICCU offers research, consolidated purchasing, and professional development opportunities to member schools; it also provides information to counselors, students, and parents about higher education in California.

About Overture Technologies

Founded in 2000, Overture Technologies is the leading provider of decisioning software solutions that enable the transparent, accurate and responsive lending processes required in today’s mortgage and higher education industries. Overture’s customers are dedicated to providing superior mortgage underwriting, servicing and securitization services and to increasing students’ access to higher education financing alternatives. Our leadership team applies decades of industry experience from leading financial services and technology firms to help our customers achieve their goals.

About Prager, Sealy & Co., LLC

Since Prager, Sealy & Co. was founded in 1987 with the assistance of two universities, higher education finance has remained a primary focus and strength. The firm’s mission is to provide clients with unparalleled personal and professional service, approaching each engagement with integrity, innovation, and insight. Prager, Sealy is committed to redefining investment banking by offering broad strategic advice with expert market execution.

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Overture Technologies Develops Online Service to Provide Students with More Secure, Reliable Way to Shop for Private Student Loans

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Bethesda, Maryland (PRWEB) April 16, 2009

Overture Technologies, the leading provider of decisioning software solutions that enable transparent, accurate and responsive lending processes for the mortgage and education finance industries, has announced the development of an online service that will be able to provide a more secure, reliable way for students to shop for private student loans. The Student Loan Marketplace is an innovative education financing tool that can help students and their families learn about and compare loan terms in an open and transparent network of lenders.

Overture plans to launch the service through marketing partners, such as associations of colleges and universities, and with participating lenders. The Student Loan Marketplace is the first multi-lender platform that allows students to review reliable private student loan terms based on their own personal and financial information instead of “as low as” advertisements for rates.

Amid the current rising costs of college and challenging economic environment, U.S. Department of Education data indicates applications for federal student aid in 2009 have increased by more than 20 percent over the same period last year. After exhausting all available scholarships, grants, work-study and low-cost federal loans, many students often must consider private student loans to finance part of the cost of education. This search has proven to be a challenge for many students, particularly those with little or no credit record, as the strain on credit markets has also resulted in a contraction of lending sources.

According to a College Board report on student borrowing trends, private student loan volume accounts for almost 25 percent of total education loan volume. The Student Loan Marketplace has been created to give students a secure, transparent resource where they can be matched with lenders to choose a loan based on the criteria that is most important to their individual situations.

*More Secure, Reliable Comparison Shopping for Students Who Are New to Borrowing

Currently, students new to borrowing are faced with a very confusing and time-consuming process to make apples-to-apples comparisons of private student loan terms from multiple lenders. If a student wishes to compare accurate rates and terms, he or she must enter personal information at each lender’s web site and consent to a credit pull before obtaining information suitable for comparison shopping, and then determine how to interpret calculations of APR and other costs across various loan products. With just one credit pull, The Student Loan Marketplace presents a side-by-side comparison of reliable loan products and terms on one page, and provides helpful explanations of terms.

“We built the Marketplace to put students in control of their private loans, giving them unprecedented insight into the details of the loan options available to them,” said David Kirby, general manager of Overture Technologies’ Education Finance Solutions group. “The Marketplace platform enables reliable comparisons of multiple private student loans in minutes – until now, no resource like this has been available.”

iServiceGlobe and Sky Technologies Announce Partnership to Deliver Mobile Solutions to SAP Clients throughout the Globe

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Sunnyvale, CA (PRWEB) May 11, 2009

iServiceGlobe, an SAP business solutions provider, and Sky Technologies, an industry leader in enterprise mobility, and integration for SAP, announced today their partnership to sell Sky’s mobile solutions.

The two companies have already engaged one of iServiceGlobe’s existing clients; Canada based information security company, Securit. In the process of developing the ideal solution for Securit’s CRM implementation, the iServiceGlobe consulting team found Sky’s existing platform had the capabilities to meet their client’s mobility needs. Sky Technologies software will provide the backbone for communication between Securit SAP CRM Services system and the Motorola Symbol

Emerging Payments Technologies, Inc.: Mr. Steven Kietz Expands Role as Chief Revenue Officer; and Mr. Eric Gelb Assumes Senior Vice President of Business Development

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Secaucus, NJ (Vocus/PRWEB) March 22, 2011

Emerging Payments Technologies Inc., creator of the alternative payment solution CredEx

CompuGain Acquires the Mortgage Division of Overture Technologies, Inc.

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Herndon, VA (PRWEB) August 22, 2011

CompuGain is pleased to announce the acquisition of the Mortgage Division of Overture Technologies, Inc., a leading provider of decisioning software solutions. Overture Technologies applies decades of experience in the mortgage finance industry to provide specialized tools that help customers make informed and sound decisions about what to buy or sell and what to approve or refer. Overtures solution suite is a high-performance loan decision system that can be used for loan-level and pool risk assessment, eligibility, and pricing of new and seasoned assets.

We are extremely excited to announce the acquisition of Overture Technologies Mortgage division. Together, with the addition of the Overture staff and product offerings, CompuGain will now have the ability to deliver fully integrated and best in class services to the Mortgage Finance domain, said Debasish Hota, President & CEO of CompuGain Corporation.

Overtures Mortgage division enables transparent, accurate, and responsive lending processes required for the mortgage and finance industries. With the addition of Overtures Mortgage division, CompuGain will be able to leverage its existing service offerings to enhance and implement a world-class decisioning software solution to existing and new clients.

Overture is proud to be a part of the CompuGain team. Their past performance as a professional services firm, their financial strength and the exceptional intellectual capital that resides within the walls of CompuGain is a huge asset and something that we look forward to being able to leverage to help our clients realize their business objectives. We are extremely fortunate and excited to be a part of the next chapter in CompuGains history, said LeRoy Pingho, CEO of Overture Technologies, Inc.

The newly acquired company will operate as a wholly-owned subsidiary of CompuGain Corporation and will conduct business under the Overture Financial Solutions business name. Together, CompuGain and Overture Financial Solutions will consult and work as an integrated delivery team to help its business partners make better and more informed decisions utilizing an integrated set of CompuGain/Overture solutions.

About Overture Technologies, Inc:

Founded in 2000, Overture Technologies is the leading provider of decisioning software solutions that enable the transparent, accurate and responsive lending processes required for todays mortgage and education finance industries.

Overtures customers are dedicated to providing superior mortgage underwriting, servicing and securitization services and to increasing students access to higher education financing alternatives. The leadership team shares in these goals and applies decades of experience from leading financial services and technology firms including Fannie Mae, Freddie Mac, Goldman Sachs, IBM and KPMG to helping its customers achieve those goals.

Specific to the Mortgage Finance Solutions division, Overture serves the breadth of the mortgage finance value chain with automated decisioning technology for underwriting, pricing, servicing and valuing mortgage loans and mortgage assets.

For more information about Overture Technologies, please visit http://www.overturecorp.com.

About Compugain Corporation:

CompuGain is a global provider of Professional Services and innovative IT Solutions.

Established as a certified Minority-Owned Business Enterprise (MBE), CompuGain has partnered with its clients in a variety of industries to help improve productivity, reduce costs and increase revenue. CompuGain understands the importance of running an agile business – CompuGain offers a total professional service offering that includes contract placement, temp-to-perm, permanent placement, consulting and project based engagements to help its clients operate more efficiently. With an expanded and fully integrated portfolio of professional services and with an ever-increasing global footprint, CompuGain is well-positioned to support the business growth of its clients.

For more information about CompuGain, please visit http://www.compugain.com.

Advisory Services and Representation:

CompuGain was advised by o3 Capital Global Advisory a full service international Investment Bank with offices in New York, Mumbai and Bangalore and represented by Pillsbury, a full service law firm in Fairfax, Virginia.

Overture was represented by Odin, Feldman & Pittleman, PC a full service law firm headquartered in Fairfax, Virginia.

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Lifeloc Technologies Receives Contract for Phoenix 6.0 Bluetooth Breath Alcohol Testers from State of Missouri, Department of Corrections

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Denver, Colorado (PRWEB) August 23, 2011

Lifeloc Technologies, Inc., a Colorado based manufacturer of professional-use breathalyzers today announced that it has been awarded a contract by the State of Missouri Corrections Department for its Phoenix 6.0 Bluetooth Workplace breath alcohol testing systems. The contract is valued as high as $ 75,000. Lifeloc has had an ongoing business relationship with the state for over ten years.

The Missouri Corrections Department uses Lifeloc breathalyzers for both employee and inmate breath alcohol testing programs. The new Phoenix 6.0BT models will be used for employee testing statewide, enabling evidential documentation of alcohol breath testing.

The Phoenix 6.0BT is Lifelocs top of the line evidential breath alcohol testing system (EBT). Features include Lifelocs proprietary EasyMode software which guides alcohol testers step by step through the DOT testing protocol to ensure valid breath alcohol test results. Other advanced features include encrypted wireless printing of test results on tamper evident labels and full user password protection.

About Lifeloc Technologies

Lifeloc Technologies, Inc. is a trusted international provider of precise, reliable and easy to use portable breath alcohol testing instruments (breathalyzers). Lifeloc offers comprehensive online and classroom training, plus a complete line of supplies and drug screening products. Our alcohol testing devices have been manufactured continuously in Colorado since our founding in 1983. Lifeloc evidential and screening devices are approved by the U.S. DOT and other state and international regulatory agencies. More information about Lifeloc is available at http://www.lifeloc.com

The statements in this press release, relating to future plans, future events or products and services, are forward-looking statements which are subject to specific risks and uncertainties. These could involve particular market trends, competition factors and other risks described in documents submitted to the U.S. Securites and Exchange Commission. The actual results, events, products and services may vary significantly from the forecasts. The reader is warned not to rely on these forward-looking statements without reservation, since these are simply reflections of the current situation.

CONTACT:

John Rhoades