Independent private equity firm Monitor Clipper Partners has invested "an undisclosed amount" in Denver-based Mortgage Cadence, a provider of enterprise lending solutions, loss mitigation technology and document services.
Mortgage Cadence plans to use the capital to expand its product and service offerings.
"Monitor Clipper's capital and expertise will allow us to continue to distance ourselves from the competition in our current markets and position ourselves for success in future target markets," said Mortgage Cadence CEO Mike Detwiler.
Serving the mortgage industry since 1999, the technology behind the product suite at Mortgage Cadence continues to offer automation of processes while delivering validation tools, analytics and document preparation and electronic delivery services.
"Mortgage Cadence represented a rare opportunity to invest in powerful enterprise technology solutions for financial institutions operating in the mortgage and mortgage services markets," added Adam Doctoroff, partner at Monitor Clipper Partners, Cambridge, Mass.
