By KIMBERLEY HAAS
The CEO of an advanced analytics company says the latest version of their platform includes a new reporting tool that can help lenders and servicers navigate the current market.
Augie Del Rio is the co-founder of Gallus Insights, headquartered in Chicago. They have satellite offices in Dallas and Buenos Aires, Argentina.
Del Rio and Bernardo Loitegui started the company in 2021.
Leaders at the company recently released information about the upgraded version of their cloud-based platform. It includes a Home Mortgage Disclosure Act reporting tool and comes on the heels of $1 million in pre-seed funding.
Users can pull insights on the total market, specific geographies, products, and peer lenders. Data about borrowers, loans, and employees can be presented on the local, state, or national level.
Del Rio recently sat down with The Mortgage Note for an interview.
Del Rio said data is the key to the future of the mortgage industry.
“If you think about data right now, we’re in a similar stage as we were with the internet in the early nineties when it was sort of new and people were starting to use it. There were a lot of questions about its power and the actual productivity of it,” Del Rio said.
Del Rio said it is challenging for companies to access, store, manage, combine, and execute on information they gather, but in the current environment every loan matters.
“I view the ability to turn, to lean into, certain data as oxygen,” Del Rio said.
Del Rio spoke about the pre-seed funding. He said a large majority of their investor base is comprised of former mortgage executives and lending firms.
“We all recognized the need for a platform that can be mortgage specific, and that’s what led us to the idea of capitalizing on this opportunity,” Del Rio said.
Brady Yeager said after his company used the platform they were compelled to invest.
“I was a Gallus customer who saw firsthand how Gallus’ platform can deliver insights in seconds at a level of detail that was previously unattainable,” Yeager said in a statement.
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