After years of working in the origination space, Bob Fulton saw firsthand the lack of technology available in mortgage lending after the close of a loan. Together with Chief Technology Officer Amit Aggarwal, he launched LauraMac, an enterprise solution to secondary market participants looking to review loans.
Fulton’s ultimate goal is to allow lenders to perform due diligence on a loan in sync with its origination and with less human interaction. Whether it is a loan QC, pre-purchase review, rating agency review or any other type of review LauraMac makes the process configurable, faster and scalable with more accurate data. The system is not designed for one specific asset class or product but is configurable to allow its clients to design a process to fit their needs.
Things to know
Attempting to disrupt: The way due diligence is performed
Launch date: May 2020
Funding: Funded and owned by Calterra Capital
Decision matrices manage escalations
Reduces cost and allows scalability
Utilizes modern APIs to connect with other industry platforms
Through talks with the company, HousingWire determined how unique the company is in the market today, giving it a unique score, and combined it with a launch size score to determine the disruptor score for the company. In other words - how well set up is LauraMac to create a major disruption.