Founded in 1999, California-based Commerce Velocity engineers web-based applications for the mortgage banking industry that completely automate the decisioning and underwriting process that a loan officer, broker or underwriter would normally follow. The solution enables lenders to analyze current, past and potential future decisioning and underwriting rules, and to use this information as a form of business intelligence to continuously improve lending operations.
Commerce Velocity�s core competency is in complex nonconforming credit decisioning, pricing/product decisioning, and automated underwriting for the non-prime wholesale and retail and lending channels. The company�s solution increases productivity, profitability and risk management through the automation of the lending process from intelligent lead distribution and management, pricing and pre-qualification, application processing, credit management, automated underwriting to fulfillment.
Commerce Velocity is privately held with 130 employees in multiple offices.
