Press ReleaseCordiaGrad Joins Overture's Growing Student Loan Marketplace
Overture is dedicated to improving transparency in the selling, origination and servicing of consumer loans. Our technology enables the continuous evaluation and underwriting of credit risk for lenders and the creation of personalized, pertinent content to improve consumer financial literacy throughout the origination process. This enables better outcomes for consumers, lenders and investors.
Overture Technologies has deep roots in and around some of the most innovative ideas in the financial services industry. Founded in 2000, the company has applied extraordinary thinking from an evolving team. Our team includes some of the most distinguished and experienced executives responsible for developing the nation’s most advanced automated underwriting and pricing systems.
The founders of the company, while leading the Fannie Mae mortgage industry transformation, offered highly accurate online loan approvals through the development of Desktop Underwriter (DU). This technology enabled lenders to reduce the cost of originating a loan by 60 to 70 percent, and provided greater consistency and objectivity in loan decisioning.
Overture Technologies was launched to take automated underwriting systems to the next level - and to new industries. Seeing the opportunity to bring efficiency and clarity to educational financial aid, Overture launched Conductor, a SaaS-based financial aid award communications platform, Needs Analyzer, an aid calculation system, and Student Loan Marketplace, an online portal offering students the ability to compare, apply and be approved for loans. And, in 2010, in response to the US Department of Education and Consumer Financial Protection Bureau's prototype, Overture produced a net price calculator, a SaaS module that enables schools to publish their costs, financial aid and financing options for students. Today, over 300 schools and lenders utilize our higher education technology solutions.
For the mortgage industry, the firm created Evaluate, a fourth-generation automated underwriting, product selection and pricing engine designed for both non-conforming and conforming loans. In 2005, Overture leveraged its considerable experience in normalizing industry data by introducing a data mapping and conversion tool, Translate, that enabled merging and analysis of data from disparate sources. And, in 2009, Overture extended the benefits of automated underwriting to defaulted loan resolution by automating the US Treasury department's mortgage loan modification programs, as well as other private modification initiatives, with Workout. In 2014, Overture created Monitor, a vendor and property oversight solution that analyzes property inspection results to alert loan servicers to conditions at vacant properties that need immediate attention.
Today, Overture is utilizing the latest data extraction technologies and new electronic data delivery sources to extend the benefits of automated underwriting and analytics even further in residential mortgage finance and other consumer and small business lending products.
LeRoy Pingho is the Chair and CEO of Overture Technologies - a quickly growing mortgage and higher education software solutions firm based in Bethesda, Maryland. Additionally, Mr. Pingho is the Founder and CEO of Great Elm Solutions ('GES'), a management consulting firm based in the Washington DC area. Mr. Pingho has held senior executive positions in entrepreneurial as well as Fortune 100 financial services and telecommunications companies. He has envisioned, built, managed and controlled major organizations and large-scale multi-year capital and operating budgets. Mr. Pingho has specific expertise in executive management, planning and analysis, and applications development/implementation. In addition he has been responsible for turn-around opportunities, M&A activity, recapitalizations, budget development and control, marketing and branding, and resource management.
Prior to GES, Mr. Pingho founded PAC, Inc., - a Management and IT Consultancy. Serving as Founder and CEO from its inception in mid-2002, Mr. Pingho organically grew the company from two initial resources to a company of over 1,500 associates with top line revenue of over $150M by 3Q2007. PAC primarily served the Financial Services industry and was instrumental in implementing and delivering on multiple critical projects for their Fortune 50 clients. A public firm bought PAC in November 2007.
Previously, LeRoy held Senior Vice President and Vice President roles at industry-leading Charles Schwab and Fannie Mae, where he was pivotal in strategic business and technology, large application development, new process and product development, resource management, customer support and executive management. As an executive, LeRoy led enterprise-wide organizations that were responsible for trading and treasury systems, analytic and debt servicing groups, back-office operations and investment accounting resources, and industry-leading capital markets analysts. LeRoy was also instrumental in setting up and leading custom college trainee programs, and concurrently served on several industry-wide advisory boards.
Previously, LeRoy's 13 years of service at MCI Telecommunications included a career that spanned cellular operations and billing, accounts receivable, credit and collections, new product development, finance and concluded as the executive responsible for MCI's first enterprise-wide Client Services organization.
LeRoy serves on several Boards and Advisory committees, and is very active in both the corporate and non-profit arenas. LeRoy co-chaired Fannie Mae's highly successful Help the Homeless campaigns, and has served/serves on the Boards of The Washington Hospital Center, FundWell, Bicycle Financial, MetroStar Systems, Peer Health Exchange, Imagination Stage, the National Center for Children & Families, Kratos Global Strategies, The Bullis School, Visible Men, Samhita, CUP International, Make-A-Wish Foundation, and the Washington Area Women's Foundation. LeRoy is also the Founder and President of Upward Bound Foundation.
Mr. Pingho and his wife Anne live in Potomac, Maryland, along with their three children - Jordan, Haley, Maya, and a 3-year-old chocolate lab. The family is active in all aspects of their local community.
Joe Del Guercio, joined CNF Investments as Managing Director in 2004. Prior to CNF, he was a director with LPL Financial Services, a Boston and San Diego based independent broker dealer, with responsibility for strategic planning, new product development, and acquisitions. Mr. Del Guercio started his career as an investment banker with Goldman Sachs and Robertson Stephens, where he focused on mergers and acuisitions, private and public equity financings, and restructurings.
In addition to Overture Technologies, Mr. Del Guercio serves on the boards of Ogmento Inc., Terrago Technologies, Cytomedix, Inc. (OTCQX: CMXI), Verax Biomedical, Orchestro and Innovative Biosensors. He also is an advisory board member on a number of CNF’s fund investments.
Mr. Del Guercio serves on the Investment and Grants Committees for the US Soccer Foundation and is actively involved with Capital for Children and Cycle for Survival.
More about CNF Investments:
Established in 1997, CNF is an affiliate of Clark Enterprises, Inc. and actively invests in venture capital and private equity. CNF, led by Mr. Robert Flanagan, manages over $280 million in capital with current investments in technology, healthcare, oil and gas, social media, and education. CNF will consider direct as well as fund investments.
CNF is an active investor that looks to partner with experienced and passionate entrepreneurs and co-investors to build great companies. CNF focuses on growth stage companies, but will consider investments in early and late stage businesses as well.
CNF conducts thorough and efficient diligence processes but focuses most of its analysis on the potential investment's management team and other key players. CNF believes that success is based on the right combination of people, experience, hard work, focus, and execution. http://www.clarkenterprisesinc.com/portfolio/private_equity
John P. Oswald is the President and CEO of the Capital Trust Group, an international merchant/investment bank with offices in London, New York, Washington, D.C., Dubai and Beirut. He is responsible for the U.S. Operations of the Group and its worldwide investment banking operations. His responsibilities have included managing a number of private equity funds, both in the U.S. and European Markets, which have focused on mezzanine and equity investments ranging from approximately $10M to $100M in middle market, private and public companies with revenues from $20M to over $1B.
Mr. Oswald serves as a limited partner in Venture Philanthropy Partners, is a member of the International Board of Directors of Best Buddies, is a member of the Mid-Atlantic Board of Directors of the American Heart Association, and a Director of the INOVA Hospital Foundation.
Mr. Oswald graduated from the New York University School of Law with an LLM (in taxation), Brooklyn Law School (JD) and Brooklyn College (BS). He is admitted to the New York and Connecticut Bars and is a Certified Public Accountant.
More about Capital Trust Group:
The Capital Trust Group, initiates, arranges, advises and invests in private equity, mezzanine debt and real estate in the United States, Europe, the Middle East and North Africa. The Group’s primary objective is to source investments that will produce superior rid-adjusted returns for the Group and its clients. http://www.capitaltrustltd.com/
Bala Venkatesan provides technical vision and leads the product technology function creating cutting-edge solutions for mortgage lending, student leading and fin-tech space for Overture. Throughout his career he has successfully lead and delivered solutions for Fortune 500 companies, government entities, large universities and lending institutions. He is an expert in solution architecture, business process management, rules-based expert systems, analytics and operational efficiency. His expertise spans the creation of business rules systems that are capable of performing credit-based decisions, management of cash pools and optimization of decisions for Secondary Markets, Mortgage Origination, Student Loan Origination and financial planning. He is passionate about creating next generation automation platform that can greatly simplify loan reviews using OCR, natural language processing, machine learning and process efficiency.
Bala holds a B.S in Computer Science from University of Madras and a Masters in Technology Management from University of Maryland. He has successfully completed the Wharton's EDP for Leaders. He is certified in Data Analytics from Georgetown University and TOGAF 9 from The Open Group. Prior to joining Overture, he developed B2B and B2C solutions for companies selling hi-tech insurance and online auctions. He started his career with an assignment at Sun Microsystems, leading an offshore staff in the development of reference implementations.