FinovateFall 2012 / Mortgage Harmony
Presenter Profile:
How they describe themselves: Mortgage Harmony Corp. is a financial services company founded in December 2008. The Company designs, develops, and distributes innovative residential mortgage products in a SaaS environment. The company’s cornerstone product, the HarmonyLoan™, is a consumer initiated interest rate-resetting mortgage with a recurring compensation structure to the loan officer (MARS — Mortgage Annuity Revenue Stream). The target market is the one trillion dollar single-family residential mortgage origination market.
How they describe their product/innovation: HarmonyLoan™ Central is a client-branded web-interface for borrowers to access their HarmonyLoan™. The product eliminates the need for the traditional refinance. With a single “click of the button,” a borrower can reset their mortgage rate with no fees, appraisal, credit check, underwriting, and no new amortization schedule. The financial institution eliminates back office processing costs and increases loan retention, all at a premium yield. The servicer reduces portfolio churn, and the loan originator creates a recurring revenue stream via our patented compensation method (No. 7292995). In other words, everyone wins.
Contacts:
Sales: Kevin Ziolkowski, SVP Business Development, (925) 292-4799
Investment Oppty/Press: Keith Kelly, CEO, kkelly@mortgageharmony.com, (703) 926-8626
Partnerships: Ray Crosier, President, rcrosier@mortgageharmony.com, (703) 825-7330
Website: www.mortgageharmony.com
Twitter: @harmonyloan
HQ Location: McLean, VA
Company Founded: December 2008
Product Being Demoed: HarmonyLoan
Product Launched: December 2010
Metrics: Over $1.1M raised, 7 employees, 12 customers
- Key Executives
Keith Kelly (CEO), Raymond T. Crosier (President), Robert Catalanotto (COO), Marlisa Senchak (EVP Product Management & Strategic Outreach)
Key Stats
- Key Board Members
Keith Kelly (CEO, Mortgage Harmony Corp), Robert Catalanotto (COO, Mortgage Harmony Corp), Richard Spires (CIO, US Federal Government)
- Key Advisory Board Members
David Kittle (CMB/Senior Director, IMARC), Mark Hendricks (Principal, Taradin Services), Richard Spires (CIO, US Federal Government), Shane Chalke (Former President, Mortgage Harmony Corp)
- Key Investors
Robert Glamb, Richard Spires (CIO, US Federal Government), Shane Chalke, (Former President, Mortgage Harmony Corp/Original Founder of Finetre), Warren Capital Group
- Key Partnerships
Cenlar (FSB, loan administration and reporting), Nortridge (software company), Pillsbury (legal counsel), New York Loan Exchange (NYLX)
- Key Customers
We market the HarmonyLoan™ and our related services to large, mid-size and small banks and credit unions, mortgage companies, and government entities. The HarmonyLoan™ is available through the licensed institutions to consumers in all fifty states.