Stewart Information Services Corp. (NYSE: STC) has bought Cloudvirga, a cloud-based mortgage software company in Irvine. Financial terms were not disclosed.
Cloudvirga was co-founded by Orange County entrepreneur Kyle Kamrooz.
“We are excited about the opportunity to join Stewart at this important time in our industry,” said Kamrooz, the Cloudvirga chief executive. “Having the backing of an industry leader like Stewart will allow us to increase value to our customers as we streamline and accelerate the origination process.”
Cloudvirga said in January its technology powers nearly $100 billion in loans annually and is used by 10 of the country's top 40 mortgage originators.
