PRESIDENT, REALEC* TECHNOLOGIES DIVISION OF BLACK KNIGHT FINANCIAL SERVICES
Dan Sogorka attended Villanova University on a full academic scholarship and earned a degree in civil and environmental engineering. So the pipes and chutes of the Rube Goldberg-like mortgage industry are probably less daunting to him than they would be to many others.
He began his career by designing and implementing water and soil treatment systems, but says he "ultimately realized I enjoyed the business aspects of the workplace more than the actual detail of sizing motors and conduits." Lucky for the mortgage industry, he made the switch to keeping loan transactions flowing rather than the other stuff.
Today, Black Knight's RealEC group works with 35 of the top 50 mortgage originators and connects them to the more than 15,000 service providers they work with to originate loans.
What was it like when he first came over to the mortgage industry side of things in 2002? "It was actually a pretty exciting time back then. I had come from a process engineering background, and RealEC was really focused on connecting these disparate third parties electronically via the Internet--so it all kind of fit together and made sense as a logical thing to do."
Sogorka adds that even in 2002, "The industry seemed very paper-centric--while we have made a lot of progress, this is something we are still working to change today."
Sogorka joined up to do business development with RealEC in 2002. The business focuses on providing an open electronic network that connects the many entities that are party to the origination of a mortgage.
How would he sum up what his team has accomplished? "I believe we have set the standard for electronic network management in this industry, and that we will set it again with our Insight suite of products that will enable our customers to originate better loans more efficiently and with significantly less risk."
Some of the specific products and tools launched while he's been at the helm include: Quality Insight, a comprehensive...