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.