Frisco, Texas-based Chronos Solutions, formerly known as Matt Martin Real Estate Management, a real estate finance services provider, has acquired Cogent Road, a San Diego-based mortgage technology company.
As a result, Chronos can now further expand its suite of products and services in mortgage technology.
According to Chronos Solutions CEO, Matt Martin, the acquisition adds over 300 customers to the Chronos family and further supplements its broad existing suite of origination services.
“Cogent Road offers an incredible array of superior origination technology,” he said. “The combination of these products with Chronos’ already-formidable suite of origination solutions empowers us to deliver end-to-end service to originators of any size.”
From here, Chronos intends to grow the Cogent Road acquisition into a mortgage and real estate technology lab, based in San Diego. “We expect to announce multiple new products and services in the coming year with the help of Cogent Road’s talented team,” Martin said.
Cogent Road develops three products for the mortgage origination market. The first, Funding Suite is a credit and data purchasing platform designed for mortgage lenders. Tax Door is an automated tax transcript solution that allows users to order verified income data via Internal Revenue Service tax transcripts without requiring signed 4506Ts. The third, Roohmz, is a loan origination system.
This transaction marks the second acquisition for Chronos Solutions this year. In January, the firm acquired Realtybid.com.
Back in November, Chronos Solutions and RealtyBid, introduced a new service to help sellers in the disposition of HUD, VA and non-performing loan sales.
Financial terms of the transaction were not disclosed.
