DANBURY, Conn., Oct. 7, 2020 (SEND2PRESS NEWSWIRE) — HousingWire, a national news source for the mortgage and housing industry, has named Promontory MortgagePath LLC founder and CEO Gene Ludwig as a recipient of the 2020 Vanguard Award based on his innovative service to the housing, mortgage, and finance industry.
“The achievements of this year’s Vanguards are hard to overstate,” said Sarah Wheeler, HousingWire editor in chief. “They are leading some of the most iconic and successful mortgage and real estate companies in the world, and adapting and innovating even in the midst of a global pandemic. The Vanguards represent the industry’s best and brightest, and we are excited to celebrate their remarkable accomplishments.”
Promontory MortgagePath is a leading provider of comprehensive digital mortgage origination and tech-driven fulfillment solutions. The HW Vanguard Award, now in its sixth year, recognizes C-level industry professionals and business unit leaders for their leadership in and contributions to their respective fields within housing and mortgage finance.
Ludwig founded Promontory MortgagePath with a mission to enable community lenders to participate profitably in mortgage lending by providing them the technology and scalability required to compete. The most recent example is the launch of Transform, a new service delivery model bundling licensed loan coordinators, point-of-sale (POS) technology, and fulfillment services to offer a complete mortgage operations platform from application to close.
Ludwig’s leadership and direction have also resulted in significant company growth and client success, which include:
- Earning key endorsements from the American Bankers Association and state banking associations in Georgia, Kentucky, New York, North Carolina, Ohio and Texas
- Adding more than 30 employees across all departments since the beginning of the COVID-19 pandemic
- Establishing a second fulfillment center in Denver to support the company’s growing client base
- Successfully onboarding new clients during the COVID-19 pandemic
- Scaling mortgage operations for existing clients to manage double-digit increases in volume during the current mortgage/refi boom
- Increasing Promontory MortgagePath client pull-through rate by 30%
- Reducing investor delivery cycle times for Promontory MortgagePath’s clients by 60%
Ludwig’s success at Promontory MortgagePath is the latest in a career-long effort of building and evolving products designed to help community banks be competitive and profitable. A former federal regulator and banker, he served as U.S. Comptroller of the Currency under President Bill Clinton before becoming vice chairman and senior control officer of Bankers Trust/Deutsche Bank.
Ludwig then channeled his banking regulation, risk management, and fiscal policy expertise into establishing two of the nation’s most well-respected financial services firms – risk and compliance consultancy Promontory Financial Group (PFG) and fintech provider Promontory Interfinancial Network (PIN). In addition to Promontory MortgagePath, Ludwig also founded Canapi Ventures, a venture capital firm investing in early- to growth-stage fintech companies. Most recently, Ludwig published a book, “The Vanishing American Dream,” which examines the plight of lower- and middle-income Americans.
“Mortgage lending and community banking both play a critical role in the U.S. financial system and in lives of everyday Americans. We support community banks’ mortgage lending efforts by supplying the technology and services needed to profitably scale operations and compete in today’s market,” Ludwig said. “Promontory MortgagePath levels the playing field for community financial institutions across the nation. I am grateful to the staff at HousingWire for recognizing those efforts with this year’s HW Vanguard Award. I share this honor with the entire Promontory MortgagePath staff who have worked so hard to get us here.”
About Promontory MortgagePath LLC | NMLS ID 1532373
Promontory MortgagePath is a fast-growing team of passionate problem solvers on a mission to fundamentally change the way lenders approach their mortgage business. The company combines an intuitive, collaborative digital mortgage platform with modern, comprehensive fulfillment services, giving lenders the progressive technology and scalability required to profitably compete in today’s rapidly-changing residential mortgage market. Promontory MortgagePath’s founder, former U.S. Comptroller of the Currency Gene Ludwig, is widely recognized as a visionary thinker on the critical issues confronting financial services, and his companies are renowned for their ability to help community lenders resolve their most pressing challenges. To learn more, https://www.mortgagepath.com.
News Source: Promontory MortgagePath
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